0001564590-22-013017 | 10-K | XBRL Viewer | Ponce Financial Group INC

Loans Receivable and Allowance for Loan Losses

Note 5. Loans Receivable and Allowance for Loan Losses

Loans at December 31, 2021 and 2020 are summarized as follows:

	December 31,			December 31,
	2021			2020
	(in thousands)
Mortgage loans:
1-4 family residential
Investor-Owned	$	317,304		$	319,596
Owner-Occupied		96,947			98,795
Multifamily residential		348,300			307,411
Nonresidential properties		239,691			218,929
Construction and land		134,651			105,858
Total mortgage loans		1,136,893			1,050,589
Nonmortgage loans:
Business loans ⁽¹⁾		150,512			94,947
Consumer loans ⁽²⁾		34,693			26,517
Total nonmortgage loans		185,205			121,464
Total loans, gross		1,322,098			1,172,053
Net deferred loan origination costs		(668	)		1,457
Allowance for loan losses		(16,352	)		(14,870	)
Loans receivable, net	$	1,305,078		$	1,158,640

(1)

As of December 31, 2021 and 2020, business loans include $136.8 million and $85.3 million, respectively, of SBA PPP loans.

(2)

As of December 31, 2021 and 2020, consumer loans include $33.9 million and $25.5 million, respectively, pursuant to the Bank’s arrangement with Grain.

The Company's lending activities are conducted principally in New York City. The Company primarily grants loans secured by real estate to individuals and businesses pursuant to an established credit policy applicable to each type of lending activity in which it engages. Although collateral provides assurance as a secondary source of repayment, the Company ordinarily requires the primary source of repayment to be based on the borrowers' ability to generate continuing cash flows. The Company also evaluates the collateral and creditworthiness of each customer. The credit policy provides that depending on the borrowers’ creditworthiness and type of collateral, credit may be extended up to predetermined percentages of the market value of the collateral or on an unsecured basis. Real estate is the primary form of collateral. Other important forms of collateral are time deposits and marketable securities.

For disclosures related to the allowance for loan losses and credit quality, the Company does not have any disaggregated classes of loans below the segment level.

Credit-Quality Indicators: Internally assigned risk ratings are used as credit-quality indicators, which are reviewed by management on a quarterly basis.

The objectives of the Company’s risk-rating system are to provide the Board of Directors and senior management with an objective assessment of the overall quality of the loan portfolio, to promptly and accurately identify loans with well-defined credit weaknesses so that timely action can be taken to minimize credit loss, to identify relevant trends affecting the collectability of the loan portfolio, to isolate potential problem areas and to provide essential information for determining the adequacy of the allowance for loan losses.

Below are the definitions of the Company's internally assigned risk ratings:

Strong Pass – Loans to new or existing borrowers collateralized at least 90 percent by an unimpaired deposit account at the Company.

Good Pass – Loans to a new or existing borrower in a well-established enterprise in excellent financial condition with strong liquidity and a history of consistently high level of earnings, cash flow and debt service capacity.

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

Satisfactory Pass – Loans to a new or existing borrower of average strength with acceptable financial condition, satisfactory record of earnings and sufficient historical and projected cash flow to service the debt.

Performance Pass – Loans that evidence strong payment history but document less than average strength, financial condition, record of earnings, or projected cash flows with which to service debt.

Special Mention – Loans in this category are currently protected but show one or more potential weaknesses and risks which may inadequately protect collectability or borrower’s ability to meet repayment terms at some future date if the weakness or weaknesses are not monitored or remediated.

Substandard – Loans that are inadequately protected by the repayment capacity of the borrower or the current sound net worth of the collateral pledged, if any. Loans in this category have well defined weaknesses and risks that jeopardize their repayment. They are characterized by the distinct possibility that some loss may be sustained if the deficiencies are not remedied.

Doubtful – Loans that have all the weaknesses of loans classified as “Substandard” with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values, highly questionable and improbable.

Loans within the top four categories above are considered pass rated, as commonly defined. Risk ratings are assigned as necessary to differentiate risk within the portfolio. Risk ratings are reviewed on an ongoing basis and revised to reflect changes in the borrowers’ financial condition and outlook, debt service coverage capability, repayment performance, collateral value and coverage as well as other considerations.

The following tables present credit risk ratings by loan segment as of December 31, 2021 and 2020:

	December 31, 2021
	Mortgage Loans								Nonmortgage Loans
	1-4						Construction						Total
	Family		Multifamily		Nonresidential		and Land		Business		Consumer		Loans
	(in thousands)
Risk Rating:
Pass	$	402,276	$	339,047	$	237,371	$	127,084	$	150,512	$	34,693	$	1,290,983
Special mention		1,820		5,328		—		6,650		—		—		13,798
Substandard		10,155		3,925		2,320		917		—		—		17,317
Total	$	414,251	$	348,300	$	239,691	$	134,651	$	150,512	$	34,693	$	1,322,098

	December 31, 2020
	Mortgage Loans								Nonmortgage Loans
	1-4						Construction						Total
	Family		Multifamily		Nonresidential		and Land		Business		Consumer		Loans
	(in thousands)
Risk Rating:
Pass	$	406,993	$	301,015	$	213,882	$	88,645	$	94,947	$	26,517	$	1,131,999
Special mention		2,333		—		—		17,213		—		—		19,546
Substandard		9,065		6,396		5,047		—		—		—		20,508
Total	$	418,391	$	307,411	$	218,929	$	105,858	$	94,947	$	26,517	$	1,172,053

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

An aging analysis of loans, as of December 31, 2021 and 2020, is as follows:

	December 31, 2021
			30-59		60-89		Over						Over
			Days		Days		90 Days				Nonaccrual		90 Days
	Current		Past Due		Past Due		Past Due		Total		Loans		Accruing
	(in thousands)
Mortgages:
1-4 Family
Investor-Owned	$	312,918	$	321	$	2,969	$	1,096	$	317,304	$	3,583	$	—
Owner-Occupied		91,568		2,961		471		1,947		96,947		3,480		—
Multifamily residential		346,409		1,704		187		—		348,300		1,200		—
Nonresidential properties		237,589		934		1,168		—		239,691		2,262		—
Construction and land		134,651		—		—		—		134,651		917		—
Nonmortgage Loans:
Business		145,919		4,036		544		13		150,512		—		—
Consumer		30,359		2,570		1,759		5		34,693		—		—
Total	$	1,299,413	$	12,526	$	7,098	$	3,061	$	1,322,098	$	11,442	$	—

	December 31, 2020
			30-59		60-89		Over						Over
			Days		Days		90 Days				Nonaccrual		90 Days
	Current		Past Due		Past Due		Past Due		Total		Loans		Accruing
	(in thousands)
Mortgages:
1-4 Family
Investor-Owned	$	313,960	$	2,222	$	1,507	$	1,907	$	319,596	$	3,058	$	—
Owner-Occupied		95,775		1,572		348		1,100		98,795		3,250		—
Multifamily residential		305,325		1,140		—		946		307,411		946		—
Nonresidential properties		215,657		—		—		3,272		218,929		4,429		—
Construction and land		105,858		—		—		—		105,858		—		—
Nonmortgage Loans:
Business		94,847		100		—		—		94,947		—		—
Consumer		25,529		497		316		175		26,517		—		—
Total	$	1,156,951	$	5,531	$	2,171	$	7,400	$	1,172,053	$	11,683	$	—

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

The following schedules detail the composition of the allowance for loan losses and the related recorded investment in loans as of December 31, 2021, 2020, and 2019, respectively.

	For the Year Ended December 31, 2021

	Mortgage Loans														Nonmortgage Loans						Total
	1-4 Family Investor Owned			1-4 Family Owner Occupied			Multifamily			Nonresidential			Construction and Land		Business			Consumer			For the Period
	(in thousands)
Allowances for loan losses:
Balance, beginning of period	$	3,850		$	1,260		$	5,214		$	2,194		$	1,820	$	254		$	278		$	14,870
Provision charged to expense		(318	)		(127	)		508			(29	)		204		(32	)		2,511			2,717
Losses charged-off		—			—			(38	)		—			—		—			(1,342	)		(1,380	)
Recoveries		8			45			—			—			—		84			8			145
Balance, end of period	$	3,540		$	1,178		$	5,684		$	2,165		$	2,024	$	306		$	1,455		$	16,352
Ending balance: individually evaluated for impairment	$	91		$	114		$	—		$	38		$	—	$	—		$	—		$	243
Ending balance: collectively evaluated for impairment		3,449			1,064			5,684			2,127			2,024		306			1,455			16,109
Total	$	3,540		$	1,178		$	5,684		$	2,165		$	2,024	$	306		$	1,455		$	16,352
Loans:
Ending balance: individually evaluated for impairment	$	6,672		$	5,854		$	1,200		$	2,995		$	917	$	13		$	—		$	17,651
Ending balance: collectively evaluated for impairment		310,632			91,093			347,100			236,696			133,734		150,499			34,693			1,304,447
Total	$	317,304		$	96,947		$	348,300		$	239,691		$	134,651	$	150,512		$	34,693		$	1,322,098

	For the Year Ended December 31, 2020

	Mortgage Loans										Nonmortgage Loans						Total
	1-4 Family Investor Owned		1-4 Family Owner Occupied		Multifamily		Nonresidential		Construction and Land		Business			Consumer			For the Period
	(in thousands)
Allowances for loan losses:
Balance, beginning of period	$	3,503	$	1,067	$	3,865	$	1,849	$	1,782	$	254		$	9		$	12,329
Provision charged to expense		347		193		1,349		341		38		(95	)		270			2,443
Losses charged-off		—		—		—		—		—		—			(6	)		(6	)
Recoveries		—		—		—		4		—		95			5			104
Balance, end of period	$	3,850	$	1,260	$	5,214	$	2,194	$	1,820	$	254		$	278		$	14,870
Ending balance: individually evaluated for impairment	$	118	$	134	$	—	$	40	$	—	$	—		$	—		$	292
Ending balance: collectively evaluated for impairment		3,732		1,126		5,214		2,154		1,820		254			278			14,578
Total	$	3,850	$	1,260	$	5,214	$	2,194	$	1,820	$	254		$	278		$	14,870
Loans:
Ending balance: individually evaluated for impairment	$	7,468	$	5,754	$	946	$	5,184	$	—	$	—		$	—		$	19,352
Ending balance: collectively evaluated for impairment		312,128		93,041		306,465		213,745		105,858		94,947			26,517			1,152,701
Total	$	319,596	$	98,795	$	307,411	$	218,929	$	105,858	$	94,947		$	26,517		$	1,172,053

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

	For the Year Ended December 31, 2019
	Mortgage Loans													Nonmortgage Loans					Total
	1-4 Family Investor Owned			1-4 Family Owner Occupied			Multifamily		Nonresidential			Construction and Land		Business			Consumer		For the Period
	(in thousands)
Allowances for loan losses:
Balance, beginning of year	$	3,799		$	1,208		$	3,829	$	1,925		$	1,631	$	260		$	7	$	12,659
Provision charged to expense		(311	)		(141	)		36		(85	)		151		608			—		258
Losses charged-off		(8	)		—			—		—			—		(724	)		—		(732	)
Recoveries		23			—			—		9			—		110			2		144
Balance, end of year	$	3,503		$	1,067		$	3,865	$	1,849		$	1,782	$	254		$	9	$	12,329
Ending balance: individually evaluated for impairment	$	265		$	149		$	—	$	31		$	—	$	14		$	—	$	459
Ending balance: collectively evaluated for impairment		3,238			918			3,865		1,818			1,782		240			9		11,870
Total	$	3,503		$	1,067		$	3,865	$	1,849		$	1,782	$	254		$	9	$	12,329
Loans:
Ending balance: individually evaluated for impairment	$	6,973		$	5,572		$	—	$	5,548		$	1,125	$	14		$	—	$	19,232
Ending balance: collectively evaluated for impairment		298,299			86,371			250,239		201,677			98,184		10,863			1,231		946,864
Total	$	305,272		$	91,943		$	250,239	$	207,225		$	99,309	$	10,877		$	1,231	$	966,096

Loans are considered impaired when current information and events indicate all amounts due may not be collectable according to the contractual terms of the related loan agreements. Impaired loans, including troubled debt restructurings, are identified by applying normal loan review procedures in accordance with the allowance for loan losses methodology. Management periodically assesses loans to determine whether impairment exists. Any loan that is, or will potentially be, no longer performing in accordance with the terms of the original loan contract is evaluated to determine impairment.

The following information relates to impaired loans as of and for the years ended December 31, 2021, 2020, and 2019:

	Unpaid Contractual		Recorded Investment		Recorded Investment		Total				Average		Interest Income
	Principal		With No		With		Recorded		Related		Recorded		Recognized
December 31, 2021	Balance		Allowance		Allowance		Investment		Allowance		Investment		on Cash Basis
	(in thousands)
Mortgages:
1-4 Family	$	13,333	$	10,535	$	1,991	$	12,526	$	205	$	12,145	$	189
Multifamily residential		1,200		1,200		—		1,200		—		1,139		63
Nonresidential properties		3,494		2,637		358		2,995		38		3,941		38
Construction and land		917		917		—		917		—		307		17
Nonmortgage Loans:
Business		13		13		—		13		—		13		—
Consumer		—		—		—		—		—		24		—
Total	$	18,957	$	15,302	$	2,349	$	17,651	$	243	$	17,569	$	307

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

	Unpaid Contractual		Recorded Investment		Recorded Investment		Total				Average		Interest Income
	Principal		With No		With		Recorded		Related		Recorded		Recognized
December 31, 2020	Balance		Allowance		Allowance		Investment		Allowance		Investment		on Cash Basis
	(in thousands)
Mortgages:
1-4 Family	$	14,118	$	10,613	$	2,609	$	13,222	$	252	$	12,306	$	321
Multifamily residential		946		946		—		946		—		231		34
Nonresidential properties		5,632		4,813		371		5,184		40		5,339		33
Construction and land		—		—		—		—		—		405		—
Nonmortgage Loans:
Business		—		—		—		—		—		8		—
Consumer		—		—		—		—		—		—		—
Total	$	20,696	$	16,372	$	2,980	$	19,352	$	292	$	18,289	$	388

	Unpaid Contractual		Recorded Investment		Recorded Investment		Total				Average		Interest Income
	Principal		With No		With		Recorded		Related		Recorded		Recognized
December 31, 2019	Balance		Allowance		Allowance		Investment		Allowance		Investment		on Cash Basis
	(in thousands)
Mortgages:
1-4 Family	$	13,566	$	8,390	$	4,155	$	12,545	$	414	$	12,995	$	361
Multifamily residential		—		—		—		—		—		6		—
Nonresidential properties		5,640		5,173		375		5,548		31		3,988		121
Construction and land		1,465		1,125		—		1,125		—		1,219		6
Nonmortgage Loans:
Business		16		—		14		14		14		195		—
Consumer		—		—		—		—		—		1		—
Total	$	20,687	$	14,688	$	4,544	$	19,232	$	459	$	18,404	$	488

The loan portfolio also includes certain loans that have been modified to troubled debt restructurings. Under applicable standards, loans are modified to troubled debt restructurings when a creditor, for economic or legal reasons related to a debtor’s financial condition, grants a concession to the debtor that it would not otherwise consider, unless it results in a delay in payment that is insignificant. These concessions could include a reduction of interest rate on the loan, payment and maturity extensions, forbearance, or other actions intended to maximize collections. When a loan is modified to a troubled debt restructuring, management evaluates for any possible impairment using either the discounted cash flows method, where the value of the modified loan is based on the present value of expected cash flows, discounted at the contractual interest rate of the original loan agreement, or by using the fair value of the collateral less selling costs if repayment under the modified terms becomes doubtful. If management determines that the value of the modified loan in a troubled debt restructuring is less than the recorded investment in the loan, impairment is recognized through a specific allowance estimate or charge-off to the allowance for loan losses.

During the year ended December 31, 2021 and 2020, there were no loans restructured as a troubled debt restructuring.

At December 31, 2021, there were 30 troubled debt restructured loans totaling $8.7 million of which $6.2 million are on accrual status. At December 31, 2020, there were 32 troubled debt restructured loans totaling $9.7 million of which $6.6 million are on accrual status. There were no commitments to lend additional funds to borrowers whose loans have been modified in a troubled debt restructuring. The financial impact from the concessions made represents specific impairment reserves on these loans, which aggregated to $243,000 and $292,000 at December 31, 2021 and 2020, respectively.

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

Loan modifications and payment deferrals as a result of the COVID-19 pandemic that met the criteria established under Section 4013 of the CARES Act or under applicable interagency guidance of the federal banking regulators were excluded from evaluation of TDR classification and reported as current during the payment deferral period. The Company’s policy was to accrue interest during the deferral period. Loans that did not meet the CARES Act or regulatory guidance criteria were evaluated for TDR and non-accrual treatment under the Company’s existing policies and procedures. The permitted use of this relief expired on January 1, 2022 and the Bank has made appropriate adjustments, which are not material.

Mortgage Loans Held for Sale at Fair Value

At December 31, 2021 and 2020, 27 loans and 70 loans related to Mortgage World in the amount of $15.5 million and $34.4 million, respectively, were held for sale and accounted for under the fair value option accounting guidance for financial assets and financial liabilities. At December 31, 2020, there was one loan in the amount of $1.0 million held for sale related to the Bank. Refer to Note 13 Fair Value for additional information.

Premises and Equipment

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Premises and Equipment

Note 6. Premises and Equipment

A summary of premises and equipment at December 31, 2021 and 2020 is as follows:

	December 31,
	2021			2020
	(in thousands)
Land	$	932		$	3,897
Buildings and improvements		4,327			17,119
Leasehold improvements		16,462			26,104
Furniture, fixtures and equipment		9,661			9,184
		31,382			56,304
Less accumulated depreciation and amortization		(11,765	)		(24,259	)
Total premises and equipment, net	$	19,617		$	32,045

Depreciation and amortization expense amounted to $2.5 million for each of the years ended December 31, 2021 and 2020, and $2.2 million for the year ended December 31, 2019, respectively, and are included in occupancy expense in the accompanying consolidated statements of operations. Buildings and improvements decreased by $12.8 million to $4.3 million at December 31, 2021 mainly due to the sale of real property offset by increases to investments made to the branch network and other product delivery services as part of the branch renovation initiative. Leasehold improvements decreased $9.6 million to $16.5 million mainly due to the sale of real property and $2.3 million offset in branch renovation initiative. Land decreased $3.0 million to $932,000 at December 31, 2021 as a result of the sale of real property. Furniture, fixtures and equipment increased $477,000 to $9.7 million at December 31, 2021, mainly as a result of renovations of premises and purchases of laptops and software to facilitate remote working during the COVID-19 pandemic.

Deposits

12 Months Ended

Dec. 31, 2021

Banking And Thrifts [Abstract]

Deposits

Note 7. Deposits

Deposits at December 31, 2021 and 2020 are summarized as follows:

	December 31,
	2021		2020
	(in thousands)
Demand ⁽¹⁾	$	274,956	$	189,855
Interest-bearing deposits:
NOW/IOLA accounts		35,280		39,296
Money market accounts		186,893		136,258
Reciprocal deposits		143,221		131,363
Savings accounts		134,887		125,820
Total NOW, money market, reciprocal and savings		500,281		432,737
Certificates of deposit of $250K or more		78,454		78,435
Brokered certificates of deposit ⁽²⁾		79,320		52,678
Listing service deposits ⁽²⁾		66,411		39,476
Certificates of deposit less than $250K		205,294		236,398
Total certificates of deposit		429,479		406,987
Total interest-bearing deposits		929,760		839,724
Total deposits	$	1,204,716	$	1,029,579

(1)

As of December 31, 2021 and 2020, included in demand deposits are deposits related to net PPP funding.

(2)

As of December 31, 2021 and 2020, there were $29.0 million and $27.0 million, respectively, in individual listing service deposits amounting to $250,000 or more. All brokered certificates of deposit individually amounted to less than $250,000.

At December 31, 2021, scheduled maturities of certificates of deposit were as follows:

December 31,	(in thousands)
2022	$	255,075
2023		48,842
2024		28,899
2025		39,342
2026		53,321
Thereafter		4,000
	$	429,479

Overdrawn deposit accounts that have been reclassified to loans amounted to $179,000 and $102,000 as of December 31, 2021 and 2020, respectively.

Borrowings

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Borrowings

Note 8. Borrowings

FHLBNY Advances: As a member of FHLBNY, the Bank has the ability to borrow from the FHLBNY based on a certain percentage of the value of the Bank's qualified collateral, as defined in FHLBNY Statement of Credit Policy, at the time of the borrowing. In accordance with an agreement with FHLBNY, the qualified collateral must be free and clear of liens, pledges and encumbrances.

The Bank had $106.3 million and $109.3 million of outstanding term advances from FHLBNY at December 31, 2021 and 2020, respectively. The Bank repaid $11.0 million in advances from FHLBNY during the year ended December 31, 2021. Additionally, the Bank has an unsecured line of credit in the amount of $25.0 million with a correspondent bank at both December 31, 2021 and 2020, none of which was outstanding as of such dates. The Bank also had a guarantee from the FHLBNY through letters of credit of up to $21.5 million and $61.5 million at December 31, 2021 and 2020, respectively.

Note 8. Borrowings (Continued)

Borrowed funds at December 31, 2021 and 2020 consist of the following and are summarized by maturity and call date below:

	December 31,							December 31,
	2021							2020
	Scheduled Maturity		Redeemable at Call Date		Weighted Average Rate			Scheduled Maturity		Redeemable at Call Date		Weighted Average Rate
	(Dollars in thousands)
FHLBNY overnight advances	$	—	$	—		—	%	$	8,000	$	8,000		0.34	%

FHLBNY term advances ending :
2021		—		—		—	%		3,000		3,000		1.84
2022		77,880		77,880		1.73			77,880		77,880		1.73
2023		28,375		28,375		2.82			28,375		28,375		2.82
	$	106,255	$	106,255		2.02	%	$	117,255	$	117,255		1.90	%

Interest expense on FHLBNY term advances totaled $2.2 million, $2.5 million and $1.7 million for the years ended December 31, 2021, 2020 and 2019, respectively. There were no interest expense on FHLBNY overnight advances for the year ended December 31, 2021. Interest expense on FHLBNY overnight advances totaled $173,000, and $130,000 for the years ended December 31, 2020 and 2019, respectively.

As of December 31, 2021 and 2020, the Bank had eligible collateral of approximately $362.3 million and $336.8 million, respectively, in mortgage loans available to secure advances from the FHLBNY.

Warehouse Lines of Credit: Mortgage World maintains two warehouse lines of credit with financial institutions for the purpose of funding the originations and sale of residential mortgages. The lines of credit are repaid with proceeds from the sale of the mortgage loans. The lines are secured by the assets collaterizing underlying mortgages. The agreements with the warehouse lenders provide for certain restrictive covenants such as minimum net worth and liquidity ratios for Mortgage World. All warehouse facilities are guaranteed by Mortgage World. As of December 31, 2021, Mortgage World was in full compliance with all financial covenants.

Warehouse Line of Credit #1

The interest rate is based on the 30-day LIBOR rate plus 3.25%. The effective rate at December 31, 2021 and 2020 was 3.35% and 3.39%, respectively. The line of credit is an evergreen agreement that terminates upon request by either the financial institution or the borrower.

Warehouse Line of Credit #2

The interest rate is based on the 30-day LIBOR rate plus 3.00% for loans funded by wires. The effective rate at December 31, 2021 and 2020 was 3.10% and 3.14%, respectively. The warehouse line of credit is due to expire on June 30, 2022.

	December 31, 2021
	Credit Line		Unused Line
	Maximum		of Credit		Balance
	(in thousands)
Warehouse Line of Credit #1	$	15,000	$	8,636	$	6,364
Warehouse Line of Credit #2		15,000		6,274		8,726
Total long-term debt	$	30,000	$	14,910	$	15,090

Note 8. Borrowings (Continued)

	December 31, 2020
	Credit Line		Unused Line
	Maximum		of Credit		Balance
	(in thousands)
Warehouse Line of Credit #1	$	29,900	$	2,171	$	27,729
Warehouse Line of Credit #2		5,000		2,768		2,232
Total long-term debt	$	34,900	$	4,939	$	29,961

Mortgage Loan Funding Payable: Mortgage loan funding payable consists of liabilities to borrowers in connection with Mortgage World origination of residential loans originated and intended for sale in the secondary market, that remain unfunded because there is typically a three day period from when the loans close to when they are funded by the warehouse line of credit. This liability is presented at cost and fully offsets the principal balance of the related loans included in mortgage loans held for sale, at fair value on the consolidated statement of financial condition. At December 31, 2021, there were no mortgage loan funding payable. At December 31, 2020 the balance of mortgage loan funding payable was $1.5 million.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Note 9. Income Taxes

The provision (benefit) for income taxes for the years ended December 31, 2021, 2020, and 2019 consists of the following:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Federal:
Current	$	6,107		$	2,065		$	878
Deferred		646			(839	)		(1,436	)
		6,753			1,226			(558	)
State and local:
Current		842			281			296
Deferred		1,733			(353	)		(3,002	)
		2,575			(72	)		(2,706	)
Changes in valuation allowance		(1,119	)		228			2,340
Provision (benefit) for income taxes	$	8,209		$	1,382		$	(924	)

Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate of 21% for 2021, 2020 and 2019 to income before income taxes as a result of the following:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Income tax, at federal rate	$	7,195		$	1,099		$	(1,270	)
State and local tax, net of federal taxes		2,034			(57	)		(2,128	)
Valuation allowance, net of the federal benefit		(1,119	)		228			2,340
Other		99			112			134
Provision (benefit) for income taxes	$	8,209		$	1,382		$	(924	)

Management maintains a valuation allowance against its net New York State and New York City deferred tax as it is unlikely these deferred tax assets will impact the Company's tax liability in future years. In 2021 Management recorded a valuation allowance against portion of the charitable contribution carryforward that will expire in 2022 as it is unlikely this deferred tax asset will be utilized. The valuation allowance decreased by $1.1 million for the year ended December 31, 2021 and increased by $228,000 and $2.3 million for the years ended December 31, 2020 and 2019, respectively.

Note 9. Income Taxes (Continued)

Management has determined that it is not required to establish a valuation allowance against any other deferred tax assets in accordance with GAAP since it is more likely than not that the deferred tax assets will be fully utilized in future periods. In assessing the need for a valuation allowance, management considers the scheduled reversal of the deferred tax liabilities, the level of historical taxable income, and the projected future taxable income over the periods that the temporary differences comprising the deferred tax assets will be deductible.

A financial institution may not carry back net operating losses (“NOL”) to earlier tax years. The NOL can be carried forward indefinitely. The use of NOL to offset income is limited to 80%. The CARES Act allows NOLs generated in 2018, 2019 and 2020 to be carried back to each of the five preceding tax years. The Bank, did not generate NOLs in 2018, 2019 or 2020 so no carryback is available. At December 31, 2020, the Bank had no federal NOL carryforwards.

The state and city of New York allow for a three-year carryback period and carryforward period of twenty years on net operating losses generated on or after tax year 2015. For tax years prior to 2015, no carryback period is allowed. Ponce De Leon Federal Bank, the predecessor of Ponce Bank, has pre-2015 carryforwards of $1.3 million for New York State purposes and $528,000 for New York City purposes. Furthermore, there are post-2015 carryforwards available of $9.1 million for New York State purposes and $14.3 million for New York City purposes. Finally, for New Jersey purposes, losses may only be carried forward 20 years, with no allowable carryback period. At December 31, 2020, the Bank had no New Jersey net operating loss carryforwards.

At December 31, 2021 and 2020, the Company had no unrecognized tax benefits recorded. The Company does not expect the total amount of unrecognized tax benefits to significantly increase in the next twelve months.

The Company is subject to U.S. federal income tax, New York State income tax, Connecticut income tax, New Jersey income tax, Florida income tax, Pennsylvania income tax and New York City income tax. The Company is no longer subject to examination by taxing authorities for years before 2018.

On March 27, 2020, the CARES Act was signed to help individuals and businesses that have been negatively impacted by the COVID-19 pandemic. Among other provisions, the CARES Act allows net operating losses, which were modified with the Tax Cuts and Jobs Act of 2017, to be carried back five years. It also modifies the useful lives of qualified leasehold improvements, relaxing the excess loss limitations on pass-through and increasing the interest expense limitation. The Company does not expect the CARES Act to have a material tax impact on the Company's consolidated financial statements.

Note 9. Income Taxes (Continued)

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2021 and 2020 are presented below:

	At December 31,
	2021		2020
	(in thousands)
Deferred tax assets:
Allowance for losses on loans	$	5,254	$	4,846
Deferred loan fees		214		—
Interest on nonaccrual loans		102		792
Unrealized loss on available-for-sale securities		399		—
Amortization of intangible assets		50		70
Deferred rent payable		152		120
Depreciation of premises and equipment		—		79
Net operating losses		3,280		3,990
Charitable contribution carryforward		366		1,366
Compensation and benefits		456		326
Other		264		78
Total gross deferred tax assets		10,537		11,667
Deferred tax liabilities:
Depreciation of premises and equipment		1,301		—
Deferred loan fees		—		475
Unrealized loss on available-for-sale securities		—		25
Other		63		39
Total gross deferred tax liabilities		1,364		539
Valuation allowance		5,353		6,472
Net deferred tax assets	$	3,820	$	4,656

The deferred tax expense (benefit) has been allocated between operations and equity as follows:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Equity	$	(424	)	$	32		$	2,186
Operations		1,260			(964	)		(2,099	)
	$	836		$	(932	)	$	87

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Compensation And Retirement Disclosure [Abstract]

Compensation and Benefit Plans

12 Months Ended

Dec. 31, 2021

Compensation and Benefit Plans

Note 10. Compensation and Benefit Plans

401(k) Plan:

Prior to January 1, 2021, the Company provides a qualified defined contribution retirement plan under Section 401(k) of the Internal Revenue Code. The 401(k) Plan qualifies under the Internal Revenue Service safe harbor provisions, as defined. Employees are eligible to participate in the 401(k) Plan at the beginning of each quarter (January 1, April 1, July 1 or October 1). The 401(k) Plan provides for elective employee/participant deferrals of income. Discretionary matching, profit-sharing, and safe harbor contributions, not to exceed 4% of employee compensation and profit-sharing contributions may be provided. The Company is currently making a safe harbor contributions of 3%. The 401(k) expenses recorded in the consolidated statements of operations amounted to $375,000, $580,000 and $331,000 for the years ended December 31, 2021, 2020 and 2019, respectively.

Effective January 1, 2021, the Company amended and restated its ESOP into a KSOP, Employee Stock Ownership Plan with 401(k) provision, to include substantially the same 401(k) provisions contained in the previously separate 401(k) plan. The Company made a safe harbor contribution of 3% into the 401(k) Plan. There were no changes to the provisions of the previously separately formed ESOP as discussed below.

KSOP, Employee Stock Ownership Plan with 401(k) Provisions:

In connection with the reorganization, the Company established an ESOP for the exclusive benefit of eligible employees. The ESOP borrowed $7.2 million from the Company, sufficient to purchase 723,751 shares (approximately 3.92% of the common stock sold in the stock offering). The loan is secured by the shares purchased and will be repaid by the ESOP with funds from contributions made by the Company and dividends received by the ESOP. Contributions will be applied to repay interest on the loan first, and then the remainder will be applied to principal. The loan is expected to be repaid over a period of 15 years. Shares purchased with the loan proceeds are held by the trustee in a suspense account for allocation among participants as the loan is repaid. Contributions to the ESOP and shares released from the suspense account are allocated among participants in proportion to their compensation, relative to total compensation of all active participants, subject to applicable regulations.

Contributions to the ESOP are to be sufficient to pay principal and interest currently due under the loan agreement. As shares are committed to be released from collateral, compensation expense equal to the average market price of the shares for the respective period are recognized, and the unallocated shares are taken into consideration when computing earnings per share. Refer to Note 11 Earnings Per Common Share for additional information.

A summary of the ESOP shares as of December 31, 2021 and 2020 are as follows:

	December 31, 2021		December 31, 2020
	(Dollars in thousands)
Shares committed-to-be-released ⁽¹⁾		96,500		48,250
Shares allocated to participants		170,145		129,270
Unallocated shares⁽¹⁾		434,251		530,751
Total		700,896		708,271
Fair value of unallocated shares	$	6,297	$	5,578

(1) During the year, the Company increased the shares committed-to-be-released by an additional 48,250 shares resulting in a total of 96,500 shares to be released as of December 31, 2021 compared to 48,250 shares as of December 31, 2020.

The Company recognized ESOP related compensation expense, including ESOP equalization expense, of $1.4 million, $538,000 and $766,000 for the years ended December 31, 2021, 2020 and 2019, respectively. Included in the $1.4 million was $700,000 related to the additional 48,250 shares committed-to-be-released as of December 31, 2021.

Note 10. Compensation and Benefit Plans (Continued)

Supplemental Executive Retirement Plan:

The Company maintains a non-qualified supplemental executive retirement plan (“SERP”) for the benefit of two key executive officers. The SERP expenses recognized were $261,000 for the year ended December 31, 2021 for the two key executive officers. For the years ended December 31, 2020 and 2019, the Company recognized SERP expenses in the amount of $59,000 and $62,000, respectively for the benefit of one key executive officer.

2018 Incentive Plan

The Company’s stockholders approved the PDL Community Bancorp 2018 Long-Term Incentive Plan (the “2018 Incentive Plan”) at the Special Meeting of Stockholders on October 30, 2018. The maximum number of shares of common stock which can be issued under the 2018 Incentive Plan is 1,248,469. Of the 1,248,469 shares, the maximum number of shares that may be awarded under the 2018 Incentive Plan pursuant to the exercise of stock options or stock appreciation rights (“SARs”) is 891,764 shares (all of which may be granted as incentive stock options), and the number of shares of common stock that may be issued as restricted stock awards or restricted stock units is 356,705 shares. However, the 2018 Incentive Plan contains a flex feature that provides that awards of restricted stock and restricted stock units in excess of the 356,705 share limitation may be granted but each share of stock covered by such excess award shall reduce the 891,764 share limitation for awards of stock options and SARs by 3.0 shares of common stock. The Company converted 462,522 awards of stock options into 154,174 restricted stock units in 2018 and 45,000 awards of stock options into 15,000 restricted stock units in 2020.

Under the 2018 Incentive Plan, the Company made grants equal to 674,645 shares on December 4, 2018 which include 119,176 incentive options to executive officers, 44,590 non-qualified options to outside directors, 322,254 restricted stock units to executive officers, 40,000 restricted stock units to non-executive officers and 148,625 restricted stock units to outside directors. During the year ended December 31, 2020, the Company awarded 40,000 incentive options and 15,000 restricted stock units to non-executive officers under the 2018 Incentive Plan. Awards to directors generally vest 20% annually beginning with the first anniversary of the date of grant. Awards to a director with fewer than five years of service at the time of grant vest over a longer period and will not become fully vested until the director has completed ten years of service. Awards to the executive officer who is not a director vest 20% annually beginning on December 4, 2020. As of December 31, 2021 and 2020, the maximum number of stock options and SARs remaining to be awarded under the Incentive Plan was 189,476 for both periods. As of December 31, 2021 and 2020 the maximum number of shares of common stock that may be issued as restricted stock awards or restricted stock units remaining to be awarded under the Incentive Plan was none for both years. If the 2018 Incentive Plan’s flex feature described above were fully utilized, the maximum number of shares of common stock that may be awarded as restricted stock awards or restricted stock units would be 63,159 as of December 31, 2021 and 2020, but would eliminate the availability of stock options and SARs available for award.

The product of the number of units granted and the grant date market price of the Company’s common stock determine the fair value of restricted stock units under the Company’s 2018 Incentive Plan. Management recognizes compensation expense for the fair value of restricted stock units on a straight-line basis over the requisite service period for the entire award.

Note 10. Compensation and Benefit Plans (Continued)

A summary of the Company’s restricted stock units activity and related information for the years ended December 31, 2021 and 2020 are as follows:

	December 31, 2021
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Non-vested, beginning of year		335,919		$	12.66
Granted		—			—
Vested		(98,232	)		12.69
Forfeited		—			—
Non-vested at December 31		237,687		$	12.65

	December 31, 2020
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Non-vested, beginning of year		420,744		$	12.78
Granted		15,000			10.05
Vested		(96,825	)		12.77
Forfeited		(3,000	)		12.77
Non-vested at December 31		335,919		$	12.66

Compensation expense related to restricted stock units for the years ended December 31, 2021, 2020 and 2019 was $1.3 million, $1.3 million and $1.2 million, respectively. As of December 31, 2021, the total remaining unrecognized compensation cost related to restricted stock units was $2.9 million, which is expected to be recognized over the next 24 quarters.

Note 10. Compensation and Benefit Plans (Continued)

A summary of the Company’s stock options activity and related information for the years ended December 31, 2021 and 2020 are as follows:

	December 31, 2021
	Options		Weighted- Average Exercise Price Per Share
Outstanding, beginning of year		203,766	$	12.02
Granted		—		—
Exercised		—		—
Forfeited		—		—
Outstanding at December 31 (1)		203,766	$	12.02
Exercisable at December 31 (1)		94,904	$	12.45

	December 31, 2020
	Options		Weighted- Average Exercise Price Per Share
Outstanding, beginning of year		163,766	$	12.78
Granted		40,000		8.93
Exercised		—		—
Forfeited		—		—
Outstanding, December 31 (1)		203,766	$	12.02
Exercisable, December 31 (1)		55,938	$	12.77

(1)

The aggregate intrinsic value, which represents the difference between the price of the Company’s common stock at respective periods and the stated exercise price of the underlying options, was $505,000 for outstanding options and $195,000 for exercisable options at December 31, 2021 and $0 for outstanding options and $0 for exercisable options at December 31, 2020.

Note 10. Compensation and Benefit Plans (Continued)

The weighted-average exercise price for outstanding options as of December 31, 2021 was $12.02 per share and the weighted-average remaining contractual life is 6.8 years. The weighted-average period over which it is expected to be recognized is 3.7 years. There were 94,904 shares exercisable as of December 31, 2021. Total compensation costs related to stock options recognized was $132,000, $127,000 and $101,000 for the years ended December 31, 2021, 2020 and 2019, respectively. As of December 31, 2021, the total remaining unrecognized compensation cost related to unvested stock options was $353,000, which is expected to be recognized over the next 24 quarters.

The fair value of each option grant is estimated on the date of grant using Black-Scholes option pricing model with the following weighted average assumptions:

	For the Years Ended December 31,
	2021			2020
Dividend yield		0.00	%		0.00	%
Expected life	6.5 years			6.5 years
Expected volatility		38.51	%		38.51	%
Risk-free interest rate		0.48	%		0.48	%
Weighted average grant date fair value	$	3.77		$	3.77

The expected volatility is based on the Company’s historical volatility. The expected life is an estimate based on management’s review of the various factors and calculated using the simplified method for plain vanilla options. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts.

Treasury Stock:

The Company adopted a share repurchase program effective March 25, 2019 which expired on September 24, 2019. Under the repurchase program, the Company was authorized to repurchase up to 923,151 shares of the Company’s stock, or approximately 5% of the Company’s then current issued and outstanding shares. On November 13, 2019, the Company adopted a second share repurchase program. Under this second program, the Company was authorized to repurchase up to 878,835 shares of the Company’s stock, or approximately 5% of the Company’s then current issued and outstanding shares. The Company’s second share repurchase program was terminated on March 27, 2020 in response to the uncertainty related to the unfolding COVID-19 pandemic. On June 1, 2020, the Company adopted a third share repurchase program. Under this third program, the Company was authorized to repurchase up to 864,987 shares of the Company’s stock, or approximately 5% of the Company’s then current issued and outstanding shares. The Company’s third share repurchase program expired on November 30, 2020. On December 14, 2020, the Company adopted a fourth share repurchase program. Under this fourth program, the Company is authorized to repurchase up to 852,302 shares of the Company’s stock, or approximately 5% of the Company’s then current issued and outstanding shares. The fourth repurchase program was terminated on May 4, 2021.

As of December 31, 2021, the Company had repurchased a total of 1,670,619 shares under the repurchase programs at a weighted average price of $13.22 per share, of which 1,037,041 shares are reported as treasury stock. Of the 1,670,619 shares repurchased, a total of 285,192 shares have been used for grants given to directors, executive officers and non-executive officers under the Company’s 2018 Long-Term Incentive Plan pursuant to restricted stock units which vested on December 4, 2021, 2020 and 2019. Of the 285,192 shares, 353 shares were retained to satisfy a recipient’s taxes and other withholding obligations and these shares remain as part of treasury stock. In addition, during the year ended December 31, 2021, 348,739 shares were sold to Banc of America Strategic Investments Corporation in a privately negotiated transaction.

Earnings Per Common Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Common Share

Note 11. Earnings Per Common Share

The following table presents a reconciliation of the number of common shares used in the calculation of basic and diluted earnings per common share:

	For the Years Ended December 31,
	2021		2020		2019
	(Dollars in thousands except share data)
Net Income (loss)	$	25,415	$	3,853	$	(5,125	)
Common shares outstanding for basic EPS:
Weighted average common shares outstanding		17,256,837		17,233,901		18,039,640
Less: Weighted average unallocated Employee Stock Ownership Plan (ESOP) shares		512,276		560,708		607,322
Basic weighted average common shares outstanding		16,744,561		16,673,193		17,432,318
Basic earnings (loss) per common share	$	1.52	$	0.23	$	(0.29	)
Dilutive potential common shares:
Add: Dilutive effect of share-based compensation		46,882		9,391		—
Diluted weighted average common shares outstanding		16,791,443		16,682,584		17,432,318
Diluted earnings (loss) per common share	$	1.51	$	0.23	$	(0.29	)

Commitments, Contingencies and Credit Risk

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments, Contingencies and Credit Risk

Note 12. Commitments, Contingencies and Credit Risk

Financial Instruments With Off-Balance-Sheet Risk: In the normal course of business, financial instruments with off-balance-sheet risk may be used to meet the financing needs of customers. These financial instruments include commitments to extend credit and letters of credit. These instruments involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized on the consolidated statements of financial condition. The contractual amounts of these instruments reflect the extent of involvement in particular classes of financial instruments.

The contractual amounts of commitments to extend credit represent the amounts of potential accounting loss should the contract be fully drawn upon, the customer default, and the value of any existing collateral become worthless. The same credit policies are used in making commitments and contractual obligations as for on-balance-sheet instruments. Financial instruments whose contractual amounts represent credit risk at December 31, 2021 and 2020 are as follows:

	December 31,
	2021		2020
	(in thousands)
Commitments to grant mortgage loans	$	127,159	$	101,722
Commitments to sell loans at lock-in rates		13,321		11,276
Unfunded commitments under lines of credit		80,033		38,261
	$	220,513	$	151,259

Commitments to Grant Mortgage Loans: Commitments to grant mortgage loans are agreements to lend to a customer as long as all terms and conditions are met as established in the contract. Commitments generally have fixed expiration dates or other termination clauses, and may require payment of a fee by the borrower. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management's credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property and equipment, residential real estate and income-producing commercial properties. Material losses are not anticipated as a result of these transactions.

Note 12. Commitments, Contingencies and Credit Risk (Continued)

Commitments to Sell Loans at Lock-in Rates: In order to assure itself of a marketplace to sell its loans, Mortgage World has agreements with investors who will commit to purchase loans at locked-in rates. Mortgage World has off-balance sheet market risk to the extent that Mortgage World does not obtain matching commitments from these investors to purchase the loans. This will expose Mortgage World to the lower of cost or market valuation environment.

Repurchases, Indemnifications and Premium Recaptures: Loans sold by Mortgage World under investor programs are subject to repurchase or indemnification if they fail to meet the origination criteria of those programs. In addition, loans sold to investors are also subject to repurchase or indemnifications if the loan is two or three months delinquent during a set period which usually varies from six months to a year after the loan is sold. There are no open repurchase or indemnification requests for loans sold as a correspondent lender or where the Company acted as a broker in the transaction as of December 31, 2021.

Unfunded Commitments Under Lines of Credit: Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extension of credit to existing customers. These lines of credit are both uncollateralized and usually contain a specified maturity date and, ultimately, may not be drawn upon to the total extent to which the Company is committed.

Letters of Credit: Letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Letters of credit are largely cash secured.

Concentration by Geographic Location: Loans, commitments to extend credit and letters of credit have been granted to customers who are located primarily in New York City metropolitan area. Generally, such loans most often are secured by one-to-four family residential. The loans are expected to be repaid from the borrowers' cash flows.

Loan Concentrations: As of December 31, 2021, approximately 6.0% of Mortgage World total originated loan volume was insured and approximately 65.1% of total originated loan volume was sold to three investors. Mortgage World is permitted to close loans in five states and has closed approximately 99.1% of its loan volume in two states, New York and New Jersey.

Lease Commitments: At December 31, 2021, there were noncancelable operating leases for office space that expire on various dates through 2038. Certain of these leases contain an escalation clause providing for increased rental based primarily on increases in real estate taxes.

On February 11, 2021, the Company completed the sale of real property located at 3821 Bergenline Avenue, Union City, New Jersey for a sale price of $2.4 million. Concurrent with the sale, the Bank and the purchaser entered into a fifteen-year lease agreement whereby the Bank will lease back this real property at an initial annual base rent of approximately $145,000 subject to annual rent increases of 1.5%. Under the lease agreement, the Bank has four (4) consecutive options to extend the term of the lease by five (5) years for each such option. The sale lease-back resulted in a gain of approximately $623,000, net of expenses, which is included in other non-interest income in the accompanying Consolidated Statements of Operations.

On June 4, 2021, the Company completed the sale of real property located at 5560 Broadway, Bronx, New York for a sale price of $5.7 million. Concurrent with the sale, the Bank and the purchaser entered into a fifteen-year lease agreement whereby the Bank will lease back this real property at an initial annual base rent of approximately $281,000 subject to annual rent increases of 1.75%. The sale lease-back resulted in a gain of approximately $4.2 million, net of expenses, which is included in other non-interest income in the accompanying Consolidated Statements of Operations.

On November 10, 2021, the Company completed the sale of real property located at 2244 Westchester Avenue, Bronx, New York for a sale price of $16.1 million. Concurrent with the sale, the Bank and the purchaser entered into a seventeen-year lease agreement whereby the Bank will lease back this real property at an initial annual base rent of approximately $926,000, subject to annual rent increases of 1.75%. The sale lease-back resulted in a gain of approximately $8.7 million, net of expenses, which is included in other non-interest income in the accompanying Consolidated Statements of Operations.

On November 12, 2021, the Company completed the sale of real property located at 169-174 Smith Street, Brooklyn, New York for a sale price of $4.0 million. Concurrent with the sale, the Bank and the purchaser entered into a fifteen-year lease agreement whereby the Bank will lease back this real property at an initial annual base rent of approximately $200,000 subject to annual rent increases of 1.50%. The sale lease-back resulted in a gain of approximately $3.7 million, net of expenses, which is included in other non-interest income in the accompanying Consolidated Statements of Operations.

Note 12. Commitments, Contingencies and Credit Risk (Continued)

On December 16, 2021, the Company completed the sale of real property located at 37-60 82^nd Street, Jackson Heights, New York for a sale price of $11.8 million. Concurrent with the sale, the Bank and the purchaser entered into a seventeen-year lease agreement whereby the Bank will lease back this real property at an initial annual base rent of approximately $530,000 subject to annual rent increases of 2.0%. The sale lease-back resulted in a gain of approximately $3.1 million, net of expenses, which is included in other non-interest income in the accompanying Consolidated Statements of Operations.

Rental expenses under operating leases, included in occupancy expense, totaled $2.3 million, $1.5 million, and $1.5 million for the years ended December 31, 2021, 2020, and 2019, respectively.

The projected minimum rental payments under the terms of the leases at December 31, 2021 are as follows:

December 31,
	(in thousands)
2022	$	3,591
2023		3,600
2024		3,643
2025		3,600
2026		3,422
Thereafter		32,112
	$	49,968

Legal Matters: The Company is involved in various legal proceedings which have arisen in the normal course of business. Management believes that resolution of these matters will not have a material effect on the Company’s financial condition or results of operations.

Fair Value

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value

Note 13. Fair Value

The following fair value hierarchy is used based on the lowest level of input significant to the fair value measurement. There are three levels of inputs that may be used to measure fair values:

Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The Company used the following methods and significant assumptions to estimate fair value:

Cash and Cash Equivalents, Placements with Banks, Accrued Interest Receivable, Advance Payments by Borrowers for Taxes and Insurance, and Accrued Interest Payable: The carrying amount is a reasonable estimate of fair value. These assets and liabilities were not recorded at fair value on a recurring basis.

Available-for-Sale Securities: These financial instruments are recorded at fair value in the consolidated financial statements on a recurring basis. Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using pricing models (e.g., matrix pricing) or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. Examples of such instruments include government agency bonds and mortgage-backed securities. Level 3 securities are securities for which significant unobservable inputs are utilized. There were no changes in valuation techniques used to measure similar assets during the period.

FHLBNY Stock: The carrying value of FHLBNY stock approximates fair value since the Bank can redeem such stock with FHLBNY at cost. As a member of the FHLBNY, the Company is required to purchase this stock, which we carry at cost and classified as restricted equity securities.

Loans Receivable: For variable rate loans, which reprice frequently and have no significant change in credit risk, carrying values are a reasonable estimate of fair values, adjusted for credit losses inherent in the portfolios. The fair value of fixed rate loans is estimated by discounting the future cash flows using estimated market rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, adjusted for credit losses inherent in the portfolios. Impaired loans are valued using a present value discounted cash flow method, or the fair value of the collateral. Loans are not recorded at fair value on a recurring basis.

Mortgage Loans Held for Sale: Mortgage loans held for sale, at fair value, consists primarily of mortgage loans originated for sale by Mortgage World and accounted for under the fair value option. These assets are valued using stated investor pricing for substantially equivalent loans as Level 2. In determining fair value, such measurements are derived based on observable market data, investor commitments, or broker quotations, including whole-loan transaction pricing and similar market transactions adjusted for portfolio composition, servicing value and market conditions. Loans held for sale by the Bank are carried at the lower of cost or fair value as determined by investor bid prices.

Under the fair value option, management has elected, on an instrument-by-instrument basis, fair value accounting for substantially all forms of mortgage loans originated for sale on a recurring basis. The fair value carrying amount of mortgages held for sale under the fair value option was $15.8 million and the aggregate unpaid principal balance amounted to $15.5 million.

Interest Rate Lock Commitments: Mortgage World enters into rate lock commitments to extend credit to borrowers for generally up to a 60 day period for origination and/or purchase of loans. To the extent that a loan is ultimately granted and the borrower ultimately accepts the terms of the loan, these loan commitments expose Mortgage World to variability in its fair value due to changes in interest rates.

Note 13. Fair Value (Continued)

The FASB determined that loan commitments related to the origination or acquisition of mortgage loans that will be held for sale must be accounted for as derivative instruments. Such commitments, along with any related fees received from potential borrowers, are recorded at fair value in derivative assets or liabilities, with changes in fair value recorded in net gain or loss on sale of mortgage loans. Fair value is based on active market pricing for substantially similar underlying mortgage loans commonly referred to as best execution pricing or investment commitment pricing, if the loan is committed to an investor through a best efforts contract. In valuing interest rate lock commitments, there are several unobservable inputs such as the fair value of the mortgage servicing rights, estimated remaining cost to originate the loans, and the pull through rate of the open pipeline. Accordingly, such derivative is classified as Level 3.

The approximate notional amounts of Mortgage World’s derivative instruments was $13.3 million and $11.3 million at December 31, 2021 and 2020, respectively. The fair value of derivatives related to interest rate lock commitments not subject to a forward loan sale commitment, amounted to $172,000 and $166,000 as of December 31, 2021 and 2020, respectively, and is included in other assets on the consolidated statements of financial position.

The table below presents the changes in derivatives from interest rate lock commitments that are measured at fair value on a recurring basis:

	(in thousands)
Balance as of December 31, 2020	$	166
Change in fair value of derivative instrument reported in earnings		6
Balance as of December 31, 2021	$	172

Other Real Estate Owned: Other real estate owned represents real estate acquired through foreclosure, and is recorded at fair value less estimated disposal costs on a nonrecurring basis. Fair value is based upon independent market prices, appraised values of the collateral or management's estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the asset is classified as Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the asset is classified as Level 3.

Deposits: The fair values of demand deposits, savings, NOW, reciprocal deposits and money market accounts equal their carrying amounts, which represent the amounts payable on demand at the reporting date. Fair values for fixed-term, fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates on certificates of deposit to a schedule of aggregated expected monthly maturities on such deposits. Deposits are not recorded at fair value on a recurring basis.

FHLBNY Advances: The fair value of the advances is estimated using a discounted cash flow calculation that applies current market-based FHLBNY interest rates for advances of similar maturity to a schedule of maturities of such advances. These borrowings are not recorded at fair value on a recurring basis.

Warehouse Lines of Credit, Mortgage Loan Fundings Payable: The carrying amounts of warehouse lines of credit and mortgage loan fundings payable approximate fair value and due to their short-term nature are classified as Level 2.

Off-Balance-Sheet Instruments: Fair values for off-balance-sheet instruments (lending commitments and letters of credit) are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties' credit standing. Off-balance-sheet instruments are not recorded at fair value on a recurring basis.

Note 13. Fair Value (Continued)

The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of December 31, 2021 and 2020, and indicate the level within the fair value hierarchy utilized to determine the fair value:

			December 31, 2021
Description	Total		Level 1		Level 2		Level 3
	(in thousands)
Available-for-Sale Securities:
U.S. Government Bonds	$	2,934	$	—	$	2,934	$	—
Corporate bonds		21,184		—		21,184		—
Mortgage-Backed Securities:
Collateralized Mortgage Obligations		18,348		—		18,348		—
FNMA Certificates		70,699		—		70,699		—
GNMA Certificates		181		—		181		—
Mortgage loans held for sale, at fair value		15,836		—		15,836		—
Derivatives from interest rate lock commitments		172		—		—		172
	$	129,354	$	—	$	129,182	$	172

			December 31, 2020
Description	Total		Level 1		Level 2		Level 3
	(in thousands)
Available-for-Sale Securities:
Corporate bonds	$	10,463	$	—	$	10,463	$	—
Mortgage-Backed Securities:
FHLMC Certificates		3,196		—		3,196		—
FNMA Certificates		3,567		—		3,567		—
GNMA Certificates		272		—		272		—
Mortgage Loans Held for Sale, at fair value		35,406		—		35,406		—
Derivatives from interest rate lock commitments		166		—		—		166
	$	53,070	$	—	$	52,904	$	166

Management’s assessment and classification of a financial instrument within a level can change over time based upon maturity or liquidity of the investment and would be reflected at the beginning of the quarter in which the change occurred.

The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of December 31, 2021 and 2020 and indicate the fair value hierarchy utilized to determine the fair value:

	December 31, 2021
	Total		Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	17,651	$	—	$	—	$	17,651

	December 31, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	19,352	$	—	$	—	$	19,352

Losses on assets carried at fair value on a nonrecurring basis were de minimis for the years ended December 31, 2021 and 2020, respectively.

Note 13. Fair Value (Continued)

As of December 31, 2021 and 2020, the book balances and estimated fair values of the Company's financial instruments were as follows:

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
December 31, 2021
Financial assets:
Cash and cash equivalents	$	153,894	$	153,894	$	—	$	—	$	153,894
Available-for-sale securities, at fair value		113,346		—		108,417		4,929		113,346
Held-to-maturity securities, at amortized cost		934		—		914		—		914
Placements with banks		2,490		—		2,490		—		2,490
Mortgage loans held for sale, at fair value		15,836		—		15,836		—		15,836
Loans receivable, net		1,305,078		—		—		1,306,253		1,306,253
Accrued interest receivable		12,362		—		12,362		—		12,362
FHLBNY stock		6,001		6,001		—		—		6,001
Financial liabilities:
Deposits:
Demand deposits		274,956		274,956		—		—		274,956
Interest-bearing deposits		500,281		500,281		—		—		500,281
Certificates of deposit		429,479		—		431,339		—		431,339
Advance payments by borrowers for taxes and insurance		7,657		—		7,657		—		7,657
Advances from FHLBNY		106,255		—		106,680		—		106,680
Warehouse lines of credit		15,090		—		15,090		—		15,090
Mortgage loan fundings payable		—		—		—		—		—
Accrued interest payable		228		—		228		—		228

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
December 31, 2020
Financial assets:
Cash and cash equivalents	$	72,078	$	72,078	$	—	$	—	$	72,078
Available-for-sale securities		17,498		—		17,498		—		17,498
Held-to-maturity securities, at amortized cost		1,743		—		1,722		—		1,722
Placements with banks		2,739		—		2,739		—		2,739
Mortgage loans held for sale, at fair value		35,406		—		35,406		—		35,406
Loans receivable, net		1,158,640		—		—		1,182,971		1,182,971
Accrued interest receivable		11,396		—		11,396		—		11,396
FHLBNY stock		6,426		6,426		—		—		6,426
Financial liabilities:
Deposits:
Demand deposits		189,855		189,855		—		—		189,855
Interest-bearing deposits		432,737		432,737		—		—		432,737
Certificates of deposit		406,987		—		411,742		—		411,742
Advance payments by borrowers for taxes and insurance		7,019		—		7,019		—		7,019
Advances from FHLBNY		117,255		—		119,248		—		119,248
Warehouse lines of credit		29,961		—		29,961		—		29,961
Mortgage loan funding payable		1,483		—		1,483		—		1,483
Accrued interest payable		60		—		60		—		60

Off-Balance-Sheet Instruments: There were no loan commitments on which the committed interest rate is less than the current market rate at December 31, 2021 and 2020.

Note 13. Fair Value (Continued)

The fair value information about financial instruments are disclosed, whether or not recognized in the consolidated statements of financial condition, for which it is practicable to estimate that value. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The estimated fair value amounts for 2021 and 2020 have been measured as of their respective period-ends and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than amounts reported at each period.

The information presented should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only required for a limited portion of the Company's assets and liabilities. Due to the wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company's disclosures and those of other banks may not be meaningful.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Disclosure Of Regulatory Capital Requirements [Abstract]

Regulatory Capital Requirements

12 Months Ended

Dec. 31, 2021

Regulatory Capital Requirements

Note 14. Regulatory Capital Requirements

The Company, the Bank and Mortgage World are subject to various regulatory capital requirements administered by the Federal Reserve Board, the OCC, the U.S. Department of Housing and Urban Development, and the NYS Department of Financial Services, respectively. 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 operations and financial statements. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company's assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation require the maintenance of minimum amounts and ratios (set forth in the table below) of total risk-based and Tier 1 capital to risk-weighted assets (as defined), common equity Tier 1 capital (as defined), and Tier 1 capital to adjusted total assets (as defined). As of December 31, 2021 and 2020, all applicable capital adequacy requirements have been met.

The below minimum capital requirements exclude the capital conservation buffer required to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. The capital conservation buffer was phased in to 2.5% by 2019. The applicable capital buffer was 9.23% and 7.95 % at December 31, 2021 and 2020, respectively.

The most recent notification from the OCC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company and the Bank must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. There were no conditions or events since then that management believes have changed the Bank's category.

Note 14. Regulatory Capital Requirements (Continued)

The Company's and the Bank’s actual capital amounts and ratios as of December 31, 2021 and 2020 as compared to regulatory requirements are as follows:

											To Be Well
											Capitalized Under
						For Capital					Prompt Corrective
	Actual					Adequacy Purposes					Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
	(Dollars in thousands)
December 31, 2021
PDL Community Bancorp
Total Capital to Risk-Weighted Assets	$	204,216		18.96	%	$	86,169		8.00	%	$	107,711		10.00	%
Tier 1 Capital to Risk-Weighted Assets		190,714		17.71	%		64,627		6.00	%		86,169		8.00	%
Common Equity Tier 1 Capital Ratio		190,714		17.71	%		48,470		4.50	%		70,012		6.50	%
Tier 1 Capital to Total Assets		190,714		12.58	%		60,629		4.00	%		75,786		5.00	%
Ponce Bank
Total Capital to Risk-Weighted Assets	$	184,689		17.23	%	$	85,735		8.00	%	$	107,168		10.00	%
Tier 1 Capital to Risk-Weighted Assets		171,253		15.98	%		64,301		6.00	%		85,735		8.00	%
Common Equity Tier 1 Capital Ratio		171,253		15.98	%		48,226		4.50	%		69,659		6.50	%
Tier 1 Capital to Total Assets		171,253		10.91	%		62,784		4.00	%		78,481		5.00	%

											To Be Well
											Capitalized Under
						For Capital					Prompt Corrective
	Actual					Adequacy Purposes					Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
	(Dollars in thousands)
December 31, 2020
PDL Community Bancorp
Total Capital to Risk-Weighted Assets	$	171,578		17.68	%	$	77,644		8.00	%	$	97,055		10.00	%
Tier 1 Capital to Risk-Weighted Assets		159,410		16.42	%		58,233		6.00	%		77,644		8.00	%
Common Equity Tier 1 Capital Ratio		159,410		16.42	%		43,675		4.50	%		63,086		6.50	%
Tier 1 Capital to Total Assets		159,410		13.34	%		47,814		4.00	%		59,768		5.00	%
Ponce Bank
Total Capital to Risk-Weighted Assets	$	153,951		15.95	%	$	77,213		8.00	%	$	96,516		10.00	%
Tier 1 Capital to Risk-Weighted Assets		141,850		14.70	%		57,909		6.00	%		77,213		8.00	%
Common Equity Tier 1 Capital Ratio		141,850		14.70	%		43,432		4.50	%		62,735		6.50	%
Tier 1 Capital to Total Assets		141,850		11.19	%		50,715		4.00	%		63,394		5.00	%

Mortgage World is subject to various net worth requirements in connection with regulatory authorities and lending agreements that Mortgage World has entered with purchase facility lenders. Failure to maintain minimum capital requirements could result in Mortgage World’s inability to originate and service loans, and, therefore, could have a direct material effect on the Company’s consolidated financial statements.

Mortgage World’s minimum net worth requirements as of December 31, 2021 are reflected below:

	Mininum
	Requirement
	(in thousands)
HUD	$	1,000
New York Department of Financial Services		250
Other State Banking Departments		250

As of December 31, 2021 and 2020, Mortgage World is in compliance with all minimum capital requirements.

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Note 15. Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows:

	December 31, 2021
	(in thousands)
	December 31, 2020		Change			December 31, 2021


Unrealized gain (losses) on securities available-for-sale, net	$	135	$	(1,591	)	$	(1,456	)
Total	$	135	$	(1,591	)	$	(1,456	)

	December 31, 2020
	(in thousands)
	December 31, 2019		Change		December 31, 2020
Unrealized gains on available-for-sale securities, net	$	20	$	115	$	135
Total	$	20	$	115	$	135

Transactions with Related Parties

12 Months Ended

Dec. 31, 2021

Transactions with Related Parties

Note 16. Transactions with Related Parties

Directors and officers of the Company have been customers of and have had transactions with the Bank, and it is expected that such persons will continue to have such transactions in the future. Aggregate loan transactions with related parties for the years ended December 31, 2021, 2020, and 2019 were as follows:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Beginning balance	$	424		$	1,260		$	1,278
Originations		10			197			60
Payments		(82	)		(1,033	)		(78	)
Ending balance	$	352		$	424		$	1,260

The Company held deposits in the amount of $6.2 million, 6.8 million and $8.3 million from officers and directors at December 31, 2021, 2020 and 2019, respectively.

Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Parent Company Only Financial Statements

Note 17. Parent Company Only Financial Statements

The following are the condensed financial statements of the Parent as of and for the years ended December 31, 2021 and 2020.

	December 31,
ASSETS	2021		2020
	(in thousands)
Cash and cash equivalents	$	124,867	$	3,770
Investment in Ponce Bank		169,797		141,985
Investment in Mortgage World		5,406		5,297
Investment in Grain		1,000		500
Loan receivable - ESOP		4,455		5,469
Other assets		6,612		2,790
Total assets	$	312,137	$	159,811

LIABILITIES AND STOCKHOLDERS' EQUITY
Funds due to Ponce Financial	$	122,000	$	—
Other liabilities and accrued expenses		881		267
Stockholders' equity		189,256		159,544
Total liabilities and stockholders' equity	$	312,137	$	159,811

	For the Years Ended December 31,
	2021			2020
	(in thousands)
Interest on ESOP loan	$	142		$	153
Interest on other deposits		16			86
Net interest income		158			239
Share-based compensation expense		1,405			1,403
Management fee expense		514			514
Office occupancy and equipment		58			55
Professional fees		1,240			1,625
Other noninterest expenses		72			67
Total noninterest expense		3,289			3,664
Loss before income taxes		(3,131	)		(3,425	)
Benefit for income taxes		(381	)		(659	)
Equity in undistributed earnings of Ponce Bank and Mortgage World		28,165			6,619
Net income	$	25,415		$	3,853

Note 17. Parent Company Only Financial Statements (Continued)

	For the Years Ended December 31,
	2021			2020
	(in thousands)
Cash Flows from Operating Activities:
Net income	$	25,415		$	3,853
Adjustments to reconcile net income to net cash used in operating activities:
Equity in undistributed earnings of subsidiaries		(28,165	)		(6,619	)
Deferred income tax		(1,381	)		(659	)
Share-based compensation expense		1,405			1,403
Decrease (increase) in other assets		(2,193	)		913
Net increase (decrease) in other liabilities		366			(840	)
Net cash used in operating activities		(4,553	)		(1,949	)
Cash Flows from Investing Activities:
Investment in Mortgage World		—			(3,464	)
Investment in Grain		(500	)		(500	)
Loan to Foundation		—			606
Repayment of ESOP Loan		1,014			425
Net cash provided by (used in) investing activities		514			(2,933	)
Cash Flows from Financing Activities:
Funds due to Ponce Financial		122,000			—
Repurchase of treasury shares		(1,607	)		—
Proceeds from the sale of treasury stock		4,743			(4,711	)
Net cash provided by (used in) financing activities		125,136			(4,711	)
Net increase (decrease) in cash and cash equivalents		121,097			(9,593	)
Cash and cash equivalents at beginning of year		3,770			13,363
Cash and cash equivalents at end of year	$	124,867		$	3,770

Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (unaudited)

Note 18. Quarterly Financial Information (unaudited)

	2021								2020
	Fourth		Third		Second		First		Fourth		Third		Second			First
	(Dollars in thousands except share data)
Net interest income	$	16,782	$	15,440	$	13,732	$	12,892	$	11,674	$	10,851	$	9,521		$	9,924
Provision for loan losses		873		572		586		686		406		620		271			1,146
Net interest income after provision for loan losses		15,909		14,868		13,146		12,206		11,268		10,231		9,250			8,778
Noninterest income		19,169		3,234		8,341		3,893		4,799		7,252		574			622
Noninterest expense		15,854		14,732		13,641		12,915		13,955		12,327		10,435			10,822
Income (loss) before income taxes		19,224		3,370		7,846		3,184		2,112		5,156		(611	)		(1,422	)
Provision (benefit) for income taxes		4,245		1,318		1,914		732		484		1,147		(40	)		(209	)
Net income (loss)	$	14,979	$	2,052	$	5,932	$	2,452	$	1,628	$	4,009	$	(571	)	$	(1,213	)

Basic earnings (loss) per share	$	0.90	$	0.12	$	0.35	$	0.15	$	0.10	$	0.24	$	(0.03	)	$	(0.07	)
Diluted earnings (loss) per share	$	0.89	$	0.12	$	0.35	$	0.15	$	0.10	$	0.24	$	(0.03	)	$	(0.07	)
Basic weighted average common shares		16,864,929		16,823,731		16,737,037		16,548,196		16,558,576		16,612,205		16,723,449			16,800,538
Diluted weighted average common shares		16,924,785		16,914,833		16,773,606		16,548,196		16,558,576		16,612,205		16,723,449			16,800,538

Segment Reporting

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

Note 19. Segment Reporting

The Company had two reportable segments: Ponce Bank and Mortgage World. Income from Ponce Bank consists primarily of interest earned on loans and investment securities and service charges on deposit accounts. Income from Mortgage World consisted primarily of taking of applications from the general public for residential mortgage loans, underwriting them to investors’ standards, closing and funding them and holding them until they are sold to investors.

The accounting policies of the reportable segments are the same as those described in the summary of accounting policies. Segment profit and loss is measured by net income on a legal entity basis. Significant intercompany transactions are eliminated in consolidation.

The following tables set forth condensed consolidated statements of operations and total assets for the operating segments for the years ended December 31, 2021 and 2020, respectively:

	For the Year Ended December 31, 2021
	Ponce Bank		Mortgage World		PDL Community Bancorp			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	66,647	$	451	$	158		$	(158	)	$	67,098
Interest expense		8,015		395		—			(158	)		8,252
Net interest income		58,632		56		158			—			58,846
Provision for loan losses		2,717		—		—			—			2,717
Net interest income after provision for loan losses		55,915		56		158			—			56,129
Total non-interest income		26,385		9,327		—			(1,075	)		34,637
Total non-interest expense		45,704		9,224		3,289			(1,075	)		57,142
Income (loss) before income taxes		36,596		159		(3,131	)		—			33,624
Provision (benefit) for income taxes		8,540		50		(381	)		—			8,209
Equity in undistributed earnings of Ponce Bank and Mortgage World		—		—		28,165			(28,165	)		—
Net income (loss)	$	28,056	$	109	$	25,415		$	(28,165	)	$	25,415

Total assets	$	1,630,031	$	20,096	$	312,137		$	(308,754	)	$	1,653,510

	For the Year Ended December 31, 2020
	Ponce Bank		Mortgage World		PDL Community Bancorp			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	53,064	$	275	$	239		$	(239	)	$	53,339
Interest expense		11,357		251		—			(239	)		11,369
Net interest income		41,707		24		239			—			41,970
Provision for loan losses		2,443		—		—			—			2,443
Net interest income after provision for loan losses		39,264		24		239			—			39,527
Non-interest income		7,554		6,207		—			(514	)		13,247
Non-interest expense		40,510		3,877		3,664			(512	)		47,539
Income (loss) before income taxes		6,308		2,354		(3,425	)		(2	)		5,235
Provision (benefit) for income taxes		1,520		521		(659	)		—			1,382
Equity in undistributed earnings of Ponce Bank and Mortgage World		—		—		6,619			(6,619	)		—
Net income (loss)	$	4,788	$	1,833	$	3,853		$	(6,621	)	$	3,853

Total assets	$	1,315,287	$	38,397	$	159,811		$	(158,264	)	$	1,355,231

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Organization Consolidation And Presentation Of Financial Statements [Abstract]

Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

Note 20. Subsequent Events

Plan of Conversion and Reorganization

On January 27, 2022, Ponce Financial Group, Inc. and PDL Community Bancorp announced that the conversion and reorganization of Ponce Bank Mutual Holding Company from the mutual to stock form of organization and related stock offering was consummated at the close of business. As a result of the closing of the conversion and reorganization and stock offering, Ponce Financial Group, Inc. is now the holding company for Ponce Bank. Ponce Bank’s former mutual holding companies, PDL Community Bancorp and Ponce Bank Mutual Holding Company, have ceased to exist.

PDL Community Bancorp’s stock ceased trading at the close of the market on January 27, 2022. Ponce Financial Group, Inc.’s common stock began trading on the Nasdaq Global Market under the same trading symbol “PDLB” on January 28, 2022.

As a result of the conversion and reorganization, each issued and outstanding share of PDL Community Bancorp common stock was converted into the right to receive 1.3952 shares of Ponce Financial Group, Inc. common stock. Cash was paid in lieu of any fractional shares based on the sale price in the offering of $10.00 per share. Ponce Financial Group Inc.’s total issued and outstanding shares on January 28, 2022 was 24,711,834 shares. All shares of treasury stock of PDL Community Bancorp were eliminated on January 27, 2022.

At both December 31, 2021 and January 27, 2022, cash and cash equivalents included $122.0 million received in connection with the conversion and reorganization and as of December 31, 2021 was reflected as a separate liability on the Company’s Consolidated Statements of Financial Condition. As of January 27, 2022, these funds were reclassified as proceeds from the sale of the Company’s common stock.

Mortgage World Ceased Operations

On January 26, 2022, Mortgage World transferred its assets and liabilities to Ponce Bank and ceased operating as an independent mortgage banking entity. Mortgage World’s business is now conducted as a division of Ponce Bank.

Nature of Business and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Basis of Financial Statement Presentation

Basis of Presentation and Consolidation:

Nature of Operations

Nature of Operations:

Risks and Uncertainties

Risks and Uncertainties:

Note 1. Nature of Business and Summary of Significant Accounting Policies (Continued)

Use of Estimates

Significant Group Concentrations of Credit Risk

Cash and Cash Equivalents

Securities

Note 1. Nature of Business and Summary of Significant Accounting Policies (Continued)

Federal Home Loan Bank of New York Stock

Loans Receivable

Allowance for Loan Losses

Note 1. Nature of Business and Summary of Significant Accounting Policies (Continued)

Residential and Multifamily Mortgage Loans

Nonresidential Mortgage Loans

Construction and Land Loans

Business Loans

Consumer Loans

Mortgage Loans Held for Sale

Derivative Financial Instrument

Revenue from Contracts with Customers

COVID-19 Pandemic and the CARES Act

Note 1. Nature of Business and Summary of Significant Accounting Policies (Continued)

Transfers of Financial Assets

Premises and Equipment

Premises and Equipment: Premises and equipment are stated at cost, less accumulated depreciation.

Depreciation is computed and charged to operations using the straight-line method over the estimated useful lives of the respective assets as follows:

		Years
Building		39
Building improvements		15 - 39
Furniture, fixtures, and equipment		3 - 10

Impairment of Long-Lived Assets

Note 1. Nature of Business and Summary of Significant Accounting Policies (Continued)

Other Real Estate Owned

Income Taxes

Interest and penalties associated with unrecognized tax benefits, if any, would be classified as additional provision for income taxes in the consolidated statements of operations.

Related Party Transactions

Employee Benefit Plans

KSOP, the Employee Stock Ownership Plan with 401(k) Provisions

Stock Options

Restricted Stock Units

Comprehensive Income

Loss Contingencies

Fair Value of Financial Instruments

Segment Reporting

Loan Commitments and Related Financial Instruments

Earnings (Loss) per Share (EPS)

Treasury Stock

Reclassification of Prior Year Presentation

Recent Accounting Pronouncements

Recent Accounting Pronouncements:

Nature of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Estimated Useful Lives of Assets

Depreciation is computed and charged to operations using the straight-line method over the estimated useful lives of the respective assets as follows:

		Years
Building		39
Building improvements		15 - 39
Furniture, fixtures, and equipment		3 - 10

Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Summary of Estimated Fair Values of the Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed of Mortgage World:

	Fair Value (in thousands)
Fair value of acquisition consideration	$	1,755
Assets:
Cash and cash equivalents		750
Mortgage loans held for sale, at fair value		10,549
Premises and equipment, net		302
Other assets		772
Total assets	$	12,373

Liabilities:
Warehouse lines of credit	$	9,135
Mortgage loans fundings payable		1,237
Other liabilities		246
Total Liabilities	$	10,618
Net assets	$	1,755

Securities (Tables)

12 Months Ended

Dec. 31, 2021

Investments Debt And Equity Securities [Abstract]

Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities

The amortized cost, gross unrealized gains and losses, and fair value of securities at December 31, 2021 and 2020 are summarized as follows:

	December 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
	(in thousands)
Available-for-Sale Securities:
U.S. Government Bonds	$	2,981	$	—	$	(47	)	$	2,934
Corporate Bonds		21,243		144		(203	)		21,184
Mortgage-Backed Securities:
Collateralized Mortgage Obligations ⁽¹⁾		18,845		—		(497	)		18,348
FNMA Certificates		71,930		—		(1,231	)		70,699
GNMA Certificates		175		6		—			181
Total available-for-sale securities	$	115,174	$	150	$	(1,978	)	$	113,346

Held-to-Maturity Securities:
FHLMC Certificates	$	934	$	—	$	(20	)	$	914
Total held-to-maturity securities	$	934	$	—	$	(20	)	$	914

(1)

Comprised of FHLMC, FNMA and GNMA issued securities.

	December 31, 2020
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
	(in thousands)
Available-for-Sale Securities:
Corporate Bonds	$	10,381	$	95	$	(13	)	$	10,463
Mortgage-Backed Securities:
FHLMC Certificates		3,201		—		(5	)		3,196
FNMA Certificates		3,506		61		—			3,567
GNMA Certificates		263		9		—			272
Total available-for-sale securities	$	17,351	$	165	$	(18	)	$	17,498

Held-to-Maturity Securities:
FHLMC Certificates	$	1,743	$	—	$	(21	)	$	1,722
Total held-to-maturity securities	$	1,743	$	—	$	(21	)	$	1,722

Company's Securities Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position

Note 4. Securities (Continued)

	December 31, 2021
	Securities With Gross Unrealized Losses
	Less Than 12 Months					12 Months or More					Total		Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
	(in thousands)
Available-for-Sale Securities:
US Government Bonds	$	2,934	$	(47	)	$	—	$	—		$	2,934	$	(47	)
Corporate Bonds		15,297		(203	)		—		—			15,297		(203	)
Mortgage-Backed
Collateralized Mortgage Obligations ⁽¹⁾		16,034		(419	)		2,314		(78	)		18,348		(497	)
FNMA Certificates		70,699		(1,231	)		—		—			70,699		(1,231	)
Total available-for-sale securities	$	104,964	$	(1,900	)	$	2,314	$	(78	)	$	107,278	$	(1,978	)
Held-to-Maturity Securities:
FHLMC Certificates	$	914	$	(20	)	$	—	$	—		$	914	$	(20	)
Total held-to-maturity securities	$	914	$	(20	)	$	—	$	—		$	914	$	(20	)

(1)

Comprised of FHLMC, FNMA and GNMA issued securities.

	December 31, 2020
	Securities With Gross Unrealized Losses
	Less Than 12 Months					12 Months or More				Total		Total
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
	Value		Loss			Value		Loss		Value		Loss
	(in thousands)
Available-for-Sale Securities:
Corporate Bonds	$	1,717	$	(13	)	$	—	$	—	$	1,717	$	(13	)
Mortgage-Backed
FNMA Certificates		3,196		(5	)		—		—		3,196		(5	)
Total available-for-sale securities	$	4,913	$	(18	)	$	—	$	—	$	4,913	$	(18	)
Held-to-Maturity Securities:
FHLMC Certificates	$	1,722	$	(21	)	$	—	$	—	$	1,722	$	(21	)
Total held-to-maturity securities	$	1,722	$	(21	)	$	—	$	—	$	1,722	$	(21	)

Summary of Maturities of Securities

	December 31, 2021
	Amortized		Fair
	Cost		Value
	(in thousands)
Available-for-Sale Securities:
U.S. Government Bonds:
Amounts maturing:
Three months or less	$	—	$	—
More than three months through one year		—		—
More than one year through five years		2,981		2,934
More than five years through ten years		—		—
		2,981		2,934
Corporate Bonds:
Amounts maturing:
Three months or less	$	—	$	—
More than three months through one year		—		—
More than one year through five years		4,445		4,381
More than five years through ten years		16,798		16,803
		21,243		21,184
Mortgage-Backed Securities		90,950		89,228
Total available-for-sale securities	$	115,174	$	113,346

Held-to-Maturity Securities:
Mortgage-Backed Securities	$	934	$	914
Total held-to-maturity securities	$	934	$	914

	December 31, 2020
	Amortized		Fair
	Cost		Value
	(in thousands)
Available-for-Sale Securities:
Corporate Bonds:
Amounts maturing:
Three months or less	$	—	$	—
More than three months through one year		—		—
More one year through five years		2,651		2,728
More than five years through ten years		7,730		7,735
		10,381		10,463
Mortgage-Backed Securities		6,970		7,035
Total available-for-sale securities	$	17,351	$	17,498

Held-to-Maturity Securities:
Mortgage-Backed Securities	$	1,743	$	1,722
Total held-to-maturity securities	$	1,743	$	1,722

Loans Receivable and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Credit Risk Ratings by Loan Segment

Summary of Loans

Loans at December 31, 2021 and 2020 are summarized as follows:

	December 31,			December 31,
	2021			2020
	(in thousands)
Mortgage loans:
1-4 family residential
Investor-Owned	$	317,304		$	319,596
Owner-Occupied		96,947			98,795
Multifamily residential		348,300			307,411
Nonresidential properties		239,691			218,929
Construction and land		134,651			105,858
Total mortgage loans		1,136,893			1,050,589
Nonmortgage loans:
Business loans ⁽¹⁾		150,512			94,947
Consumer loans ⁽²⁾		34,693			26,517
Total nonmortgage loans		185,205			121,464
Total loans, gross		1,322,098			1,172,053
Net deferred loan origination costs		(668	)		1,457
Allowance for loan losses		(16,352	)		(14,870	)
Loans receivable, net	$	1,305,078		$	1,158,640

(1)

As of December 31, 2021 and 2020, business loans include $136.8 million and $85.3 million, respectively, of SBA PPP loans.

(2)

As of December 31, 2021 and 2020, consumer loans include $33.9 million and $25.5 million, respectively, pursuant to the Bank’s arrangement with Grain.

The following tables present credit risk ratings by loan segment as of December 31, 2021 and 2020:

	December 31, 2021
	Mortgage Loans								Nonmortgage Loans
	1-4						Construction						Total
	Family		Multifamily		Nonresidential		and Land		Business		Consumer		Loans
	(in thousands)
Risk Rating:
Pass	$	402,276	$	339,047	$	237,371	$	127,084	$	150,512	$	34,693	$	1,290,983
Special mention		1,820		5,328		—		6,650		—		—		13,798
Substandard		10,155		3,925		2,320		917		—		—		17,317
Total	$	414,251	$	348,300	$	239,691	$	134,651	$	150,512	$	34,693	$	1,322,098

	December 31, 2020
	Mortgage Loans								Nonmortgage Loans
	1-4						Construction						Total
	Family		Multifamily		Nonresidential		and Land		Business		Consumer		Loans
	(in thousands)
Risk Rating:
Pass	$	406,993	$	301,015	$	213,882	$	88,645	$	94,947	$	26,517	$	1,131,999
Special mention		2,333		—		—		17,213		—		—		19,546
Substandard		9,065		6,396		5,047		—		—		—		20,508
Total	$	418,391	$	307,411	$	218,929	$	105,858	$	94,947	$	26,517	$	1,172,053

Schedule of Aging Analysis of Loans

An aging analysis of loans, as of December 31, 2021 and 2020, is as follows:

	December 31, 2021
			30-59		60-89		Over						Over
			Days		Days		90 Days				Nonaccrual		90 Days
	Current		Past Due		Past Due		Past Due		Total		Loans		Accruing
	(in thousands)
Mortgages:
1-4 Family
Investor-Owned	$	312,918	$	321	$	2,969	$	1,096	$	317,304	$	3,583	$	—
Owner-Occupied		91,568		2,961		471		1,947		96,947		3,480		—
Multifamily residential		346,409		1,704		187		—		348,300		1,200		—
Nonresidential properties		237,589		934		1,168		—		239,691		2,262		—
Construction and land		134,651		—		—		—		134,651		917		—
Nonmortgage Loans:
Business		145,919		4,036		544		13		150,512		—		—
Consumer		30,359		2,570		1,759		5		34,693		—		—
Total	$	1,299,413	$	12,526	$	7,098	$	3,061	$	1,322,098	$	11,442	$	—

	December 31, 2020
			30-59		60-89		Over						Over
			Days		Days		90 Days				Nonaccrual		90 Days
	Current		Past Due		Past Due		Past Due		Total		Loans		Accruing
	(in thousands)
Mortgages:
1-4 Family
Investor-Owned	$	313,960	$	2,222	$	1,507	$	1,907	$	319,596	$	3,058	$	—
Owner-Occupied		95,775		1,572		348		1,100		98,795		3,250		—
Multifamily residential		305,325		1,140		—		946		307,411		946		—
Nonresidential properties		215,657		—		—		3,272		218,929		4,429		—
Construction and land		105,858		—		—		—		105,858		—		—
Nonmortgage Loans:
Business		94,847		100		—		—		94,947		—		—
Consumer		25,529		497		316		175		26,517		—		—
Total	$	1,156,951	$	5,531	$	2,171	$	7,400	$	1,172,053	$	11,683	$	—

Schedule of Composition of Allowance for Loan Losses and Related Recorded Investment

The following schedules detail the composition of the allowance for loan losses and the related recorded investment in loans as of December 31, 2021, 2020, and 2019, respectively.

	For the Year Ended December 31, 2021

	Mortgage Loans														Nonmortgage Loans						Total
	1-4 Family Investor Owned			1-4 Family Owner Occupied			Multifamily			Nonresidential			Construction and Land		Business			Consumer			For the Period
	(in thousands)
Allowances for loan losses:
Balance, beginning of period	$	3,850		$	1,260		$	5,214		$	2,194		$	1,820	$	254		$	278		$	14,870
Provision charged to expense		(318	)		(127	)		508			(29	)		204		(32	)		2,511			2,717
Losses charged-off		—			—			(38	)		—			—		—			(1,342	)		(1,380	)
Recoveries		8			45			—			—			—		84			8			145
Balance, end of period	$	3,540		$	1,178		$	5,684		$	2,165		$	2,024	$	306		$	1,455		$	16,352
Ending balance: individually evaluated for impairment	$	91		$	114		$	—		$	38		$	—	$	—		$	—		$	243
Ending balance: collectively evaluated for impairment		3,449			1,064			5,684			2,127			2,024		306			1,455			16,109
Total	$	3,540		$	1,178		$	5,684		$	2,165		$	2,024	$	306		$	1,455		$	16,352
Loans:
Ending balance: individually evaluated for impairment	$	6,672		$	5,854		$	1,200		$	2,995		$	917	$	13		$	—		$	17,651
Ending balance: collectively evaluated for impairment		310,632			91,093			347,100			236,696			133,734		150,499			34,693			1,304,447
Total	$	317,304		$	96,947		$	348,300		$	239,691		$	134,651	$	150,512		$	34,693		$	1,322,098

	For the Year Ended December 31, 2020

	Mortgage Loans										Nonmortgage Loans						Total
	1-4 Family Investor Owned		1-4 Family Owner Occupied		Multifamily		Nonresidential		Construction and Land		Business			Consumer			For the Period
	(in thousands)
Allowances for loan losses:
Balance, beginning of period	$	3,503	$	1,067	$	3,865	$	1,849	$	1,782	$	254		$	9		$	12,329
Provision charged to expense		347		193		1,349		341		38		(95	)		270			2,443
Losses charged-off		—		—		—		—		—		—			(6	)		(6	)
Recoveries		—		—		—		4		—		95			5			104
Balance, end of period	$	3,850	$	1,260	$	5,214	$	2,194	$	1,820	$	254		$	278		$	14,870
Ending balance: individually evaluated for impairment	$	118	$	134	$	—	$	40	$	—	$	—		$	—		$	292
Ending balance: collectively evaluated for impairment		3,732		1,126		5,214		2,154		1,820		254			278			14,578
Total	$	3,850	$	1,260	$	5,214	$	2,194	$	1,820	$	254		$	278		$	14,870
Loans:
Ending balance: individually evaluated for impairment	$	7,468	$	5,754	$	946	$	5,184	$	—	$	—		$	—		$	19,352
Ending balance: collectively evaluated for impairment		312,128		93,041		306,465		213,745		105,858		94,947			26,517			1,152,701
Total	$	319,596	$	98,795	$	307,411	$	218,929	$	105,858	$	94,947		$	26,517		$	1,172,053

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

	For the Year Ended December 31, 2019
	Mortgage Loans													Nonmortgage Loans					Total
	1-4 Family Investor Owned			1-4 Family Owner Occupied			Multifamily		Nonresidential			Construction and Land		Business			Consumer		For the Period
	(in thousands)
Allowances for loan losses:
Balance, beginning of year	$	3,799		$	1,208		$	3,829	$	1,925		$	1,631	$	260		$	7	$	12,659
Provision charged to expense		(311	)		(141	)		36		(85	)		151		608			—		258
Losses charged-off		(8	)		—			—		—			—		(724	)		—		(732	)
Recoveries		23			—			—		9			—		110			2		144
Balance, end of year	$	3,503		$	1,067		$	3,865	$	1,849		$	1,782	$	254		$	9	$	12,329
Ending balance: individually evaluated for impairment	$	265		$	149		$	—	$	31		$	—	$	14		$	—	$	459
Ending balance: collectively evaluated for impairment		3,238			918			3,865		1,818			1,782		240			9		11,870
Total	$	3,503		$	1,067		$	3,865	$	1,849		$	1,782	$	254		$	9	$	12,329
Loans:
Ending balance: individually evaluated for impairment	$	6,973		$	5,572		$	—	$	5,548		$	1,125	$	14		$	—	$	19,232
Ending balance: collectively evaluated for impairment		298,299			86,371			250,239		201,677			98,184		10,863			1,231		946,864
Total	$	305,272		$	91,943		$	250,239	$	207,225		$	99,309	$	10,877		$	1,231	$	966,096

Schedule of Information Relates to Impaired Loans

The following information relates to impaired loans as of and for the years ended December 31, 2021, 2020, and 2019:

	Unpaid Contractual		Recorded Investment		Recorded Investment		Total				Average		Interest Income
	Principal		With No		With		Recorded		Related		Recorded		Recognized
December 31, 2021	Balance		Allowance		Allowance		Investment		Allowance		Investment		on Cash Basis
	(in thousands)
Mortgages:
1-4 Family	$	13,333	$	10,535	$	1,991	$	12,526	$	205	$	12,145	$	189
Multifamily residential		1,200		1,200		—		1,200		—		1,139		63
Nonresidential properties		3,494		2,637		358		2,995		38		3,941		38
Construction and land		917		917		—		917		—		307		17
Nonmortgage Loans:
Business		13		13		—		13		—		13		—
Consumer		—		—		—		—		—		24		—
Total	$	18,957	$	15,302	$	2,349	$	17,651	$	243	$	17,569	$	307

Note 5. Loans Receivable and Allowance for Loan Losses (Continued)

	Unpaid Contractual		Recorded Investment		Recorded Investment		Total				Average		Interest Income
	Principal		With No		With		Recorded		Related		Recorded		Recognized
December 31, 2020	Balance		Allowance		Allowance		Investment		Allowance		Investment		on Cash Basis
	(in thousands)
Mortgages:
1-4 Family	$	14,118	$	10,613	$	2,609	$	13,222	$	252	$	12,306	$	321
Multifamily residential		946		946		—		946		—		231		34
Nonresidential properties		5,632		4,813		371		5,184		40		5,339		33
Construction and land		—		—		—		—		—		405		—
Nonmortgage Loans:
Business		—		—		—		—		—		8		—
Consumer		—		—		—		—		—		—		—
Total	$	20,696	$	16,372	$	2,980	$	19,352	$	292	$	18,289	$	388

	Unpaid Contractual		Recorded Investment		Recorded Investment		Total				Average		Interest Income
	Principal		With No		With		Recorded		Related		Recorded		Recognized
December 31, 2019	Balance		Allowance		Allowance		Investment		Allowance		Investment		on Cash Basis
	(in thousands)
Mortgages:
1-4 Family	$	13,566	$	8,390	$	4,155	$	12,545	$	414	$	12,995	$	361
Multifamily residential		—		—		—		—		—		6		—
Nonresidential properties		5,640		5,173		375		5,548		31		3,988		121
Construction and land		1,465		1,125		—		1,125		—		1,219		6
Nonmortgage Loans:
Business		16		—		14		14		14		195		—
Consumer		—		—		—		—		—		1		—
Total	$	20,687	$	14,688	$	4,544	$	19,232	$	459	$	18,404	$	488

Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Summary of Premises and Equipment

A summary of premises and equipment at December 31, 2021 and 2020 is as follows:

	December 31,
	2021			2020
	(in thousands)
Land	$	932		$	3,897
Buildings and improvements		4,327			17,119
Leasehold improvements		16,462			26,104
Furniture, fixtures and equipment		9,661			9,184
		31,382			56,304
Less accumulated depreciation and amortization		(11,765	)		(24,259	)
Total premises and equipment, net	$	19,617		$	32,045

Deposits (Tables)

12 Months Ended

Dec. 31, 2021

Banking And Thrifts [Abstract]

Summarized Deposits

Deposits at December 31, 2021 and 2020 are summarized as follows:

	December 31,
	2021		2020
	(in thousands)
Demand ⁽¹⁾	$	274,956	$	189,855
Interest-bearing deposits:
NOW/IOLA accounts		35,280		39,296
Money market accounts		186,893		136,258
Reciprocal deposits		143,221		131,363
Savings accounts		134,887		125,820
Total NOW, money market, reciprocal and savings		500,281		432,737
Certificates of deposit of $250K or more		78,454		78,435
Brokered certificates of deposit ⁽²⁾		79,320		52,678
Listing service deposits ⁽²⁾		66,411		39,476
Certificates of deposit less than $250K		205,294		236,398
Total certificates of deposit		429,479		406,987
Total interest-bearing deposits		929,760		839,724
Total deposits	$	1,204,716	$	1,029,579

(1)

As of December 31, 2021 and 2020, included in demand deposits are deposits related to net PPP funding.

(2)

Scheduled Maturities of Certificates of Deposit

At December 31, 2021, scheduled maturities of certificates of deposit were as follows:

December 31,	(in thousands)
2022	$	255,075
2023		48,842
2024		28,899
2025		39,342
2026		53,321
Thereafter		4,000
	$	429,479

Tabular disclosure of type of deposit liability.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(ii)

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (1)

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (1)

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (d)

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iv)

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (5)

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iii)

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (4)

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (c)

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (2)

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (3)

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)

Schedule of Borrowed Funds FHLBNY Advances Maturity and Call Date

Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Note 8. Borrowings (Continued)

Borrowed funds at December 31, 2021 and 2020 consist of the following and are summarized by maturity and call date below:

	December 31,							December 31,
	2021							2020
	Scheduled Maturity		Redeemable at Call Date		Weighted Average Rate			Scheduled Maturity		Redeemable at Call Date		Weighted Average Rate
	(Dollars in thousands)
FHLBNY overnight advances	$	—	$	—		—	%	$	8,000	$	8,000		0.34	%

FHLBNY term advances ending :
2021		—		—		—	%		3,000		3,000		1.84
2022		77,880		77,880		1.73			77,880		77,880		1.73
2023		28,375		28,375		2.82			28,375		28,375		2.82
	$	106,255	$	106,255		2.02	%	$	117,255	$	117,255		1.90	%

Schedule of Warehouse Lines of Credit

	December 31, 2021
	Credit Line		Unused Line
	Maximum		of Credit		Balance
	(in thousands)
Warehouse Line of Credit #1	$	15,000	$	8,636	$	6,364
Warehouse Line of Credit #2		15,000		6,274		8,726
Total long-term debt	$	30,000	$	14,910	$	15,090

Note 8. Borrowings (Continued)

	December 31, 2020
	Credit Line		Unused Line
	Maximum		of Credit		Balance
	(in thousands)
Warehouse Line of Credit #1	$	29,900	$	2,171	$	27,729
Warehouse Line of Credit #2		5,000		2,768		2,232
Total long-term debt	$	34,900	$	4,939	$	29,961

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes for the years ended December 31, 2021, 2020, and 2019 consists of the following:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Federal:
Current	$	6,107		$	2,065		$	878
Deferred		646			(839	)		(1,436	)
		6,753			1,226			(558	)
State and local:
Current		842			281			296
Deferred		1,733			(353	)		(3,002	)
		2,575			(72	)		(2,706	)
Changes in valuation allowance		(1,119	)		228			2,340
Provision (benefit) for income taxes	$	8,209		$	1,382		$	(924	)

Schedule of Reconciliation of Differences Between Federal Income Tax Rate and Total Income Tax Expense

Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate of 21% for 2021, 2020 and 2019 to income before income taxes as a result of the following:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Income tax, at federal rate	$	7,195		$	1,099		$	(1,270	)
State and local tax, net of federal taxes		2,034			(57	)		(2,128	)
Valuation allowance, net of the federal benefit		(1,119	)		228			2,340
Other		99			112			134
Provision (benefit) for income taxes	$	8,209		$	1,382		$	(924	)

Schedule of Significant Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2021 and 2020 are presented below:

	At December 31,
	2021		2020
	(in thousands)
Deferred tax assets:
Allowance for losses on loans	$	5,254	$	4,846
Deferred loan fees		214		—
Interest on nonaccrual loans		102		792
Unrealized loss on available-for-sale securities		399		—
Amortization of intangible assets		50		70
Deferred rent payable		152		120
Depreciation of premises and equipment		—		79
Net operating losses		3,280		3,990
Charitable contribution carryforward		366		1,366
Compensation and benefits		456		326
Other		264		78
Total gross deferred tax assets		10,537		11,667
Deferred tax liabilities:
Depreciation of premises and equipment		1,301		—
Deferred loan fees		—		475
Unrealized loss on available-for-sale securities		—		25
Other		63		39
Total gross deferred tax liabilities		1,364		539
Valuation allowance		5,353		6,472
Net deferred tax assets	$	3,820	$	4,656

Schedule of Deferred Tax Expense (Benefit) Allocated Between Operations and Equity

The deferred tax expense (benefit) has been allocated between operations and equity as follows:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Equity	$	(424	)	$	32		$	2,186
Operations		1,260			(964	)		(2,099	)
	$	836		$	(932	)	$	87

Compensation and Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Summary of ESOP Shares

A summary of the ESOP shares as of December 31, 2021 and 2020 are as follows:

	December 31, 2021		December 31, 2020
	(Dollars in thousands)
Shares committed-to-be-released ⁽¹⁾		96,500		48,250
Shares allocated to participants		170,145		129,270
Unallocated shares⁽¹⁾		434,251		530,751
Total		700,896		708,271
Fair value of unallocated shares	$	6,297	$	5,578

Schedule of Restricted Stock Units Activity and Related Information

A summary of the Company’s restricted stock units activity and related information for the years ended December 31, 2021 and 2020 are as follows:

	December 31, 2021
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Non-vested, beginning of year		335,919		$	12.66
Granted		—			—
Vested		(98,232	)		12.69
Forfeited		—			—
Non-vested at December 31		237,687		$	12.65

	December 31, 2020
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Non-vested, beginning of year		420,744		$	12.78
Granted		15,000			10.05
Vested		(96,825	)		12.77
Forfeited		(3,000	)		12.77
Non-vested at December 31		335,919		$	12.66

Schedule of Stock Option Activity and Related Information

A summary of the Company’s stock options activity and related information for the years ended December 31, 2021 and 2020 are as follows:

	December 31, 2021
	Options		Weighted- Average Exercise Price Per Share
Outstanding, beginning of year		203,766	$	12.02
Granted		—		—
Exercised		—		—
Forfeited		—		—
Outstanding at December 31 (1)		203,766	$	12.02
Exercisable at December 31 (1)		94,904	$	12.45

	December 31, 2020
	Options		Weighted- Average Exercise Price Per Share
Outstanding, beginning of year		163,766	$	12.78
Granted		40,000		8.93
Exercised		—		—
Forfeited		—		—
Outstanding, December 31 (1)		203,766	$	12.02
Exercisable, December 31 (1)		55,938	$	12.77

(1)

Schedule of Fair Value of Option Grant Using Black-Scholes Option Pricing Model With Weighted Average Assumptions

The fair value of each option grant is estimated on the date of grant using Black-Scholes option pricing model with the following weighted average assumptions:

	For the Years Ended December 31,
	2021			2020
Dividend yield		0.00	%		0.00	%
Expected life	6.5 years			6.5 years
Expected volatility		38.51	%		38.51	%
Risk-free interest rate		0.48	%		0.48	%
Weighted average grant date fair value	$	3.77		$	3.77

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share

The following table presents a reconciliation of the number of common shares used in the calculation of basic and diluted earnings per common share:

	For the Years Ended December 31,
	2021		2020		2019
	(Dollars in thousands except share data)
Net Income (loss)	$	25,415	$	3,853	$	(5,125	)
Common shares outstanding for basic EPS:
Weighted average common shares outstanding		17,256,837		17,233,901		18,039,640
Less: Weighted average unallocated Employee Stock Ownership Plan (ESOP) shares		512,276		560,708		607,322
Basic weighted average common shares outstanding		16,744,561		16,673,193		17,432,318
Basic earnings (loss) per common share	$	1.52	$	0.23	$	(0.29	)
Dilutive potential common shares:
Add: Dilutive effect of share-based compensation		46,882		9,391		—
Diluted weighted average common shares outstanding		16,791,443		16,682,584		17,432,318
Diluted earnings (loss) per common share	$	1.51	$	0.23	$	(0.29	)

Commitments, Contingencies and Credit Risk (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Financial Instruments Whose Contractual Amounts Represent Credit Risk

Financial instruments whose contractual amounts represent credit risk at December 31, 2021 and 2020 are as follows:

	December 31,
	2021		2020
	(in thousands)
Commitments to grant mortgage loans	$	127,159	$	101,722
Commitments to sell loans at lock-in rates		13,321		11,276
Unfunded commitments under lines of credit		80,033		38,261
	$	220,513	$	151,259

Projected Minimum Rental Payments under Terms of Leases

The projected minimum rental payments under the terms of the leases at December 31, 2021 are as follows:

December 31,
	(in thousands)
2022	$	3,591
2023		3,600
2024		3,643
2025		3,600
2026		3,422
Thereafter		32,112
	$	49,968

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

Summary of Changes in Derivatives From Interest Rate Lock Commitments are Measured at Fair Value

Fair Value (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

The table below presents the changes in derivatives from interest rate lock commitments that are measured at fair value on a recurring basis:

	(in thousands)
Balance as of December 31, 2020	$	166
Change in fair value of derivative instrument reported in earnings		6
Balance as of December 31, 2021	$	172

Assets Measured at Fair Value on Recurring Basis

Note 13. Fair Value (Continued)

			December 31, 2021
Description	Total		Level 1		Level 2		Level 3
	(in thousands)
Available-for-Sale Securities:
U.S. Government Bonds	$	2,934	$	—	$	2,934	$	—
Corporate bonds		21,184		—		21,184		—
Mortgage-Backed Securities:
Collateralized Mortgage Obligations		18,348		—		18,348		—
FNMA Certificates		70,699		—		70,699		—
GNMA Certificates		181		—		181		—
Mortgage loans held for sale, at fair value		15,836		—		15,836		—
Derivatives from interest rate lock commitments		172		—		—		172
	$	129,354	$	—	$	129,182	$	172

			December 31, 2020
Description	Total		Level 1		Level 2		Level 3
	(in thousands)
Available-for-Sale Securities:
Corporate bonds	$	10,463	$	—	$	10,463	$	—
Mortgage-Backed Securities:
FHLMC Certificates		3,196		—		3,196		—
FNMA Certificates		3,567		—		3,567		—
GNMA Certificates		272		—		272		—
Mortgage Loans Held for Sale, at fair value		35,406		—		35,406		—
Derivatives from interest rate lock commitments		166		—		—		166
	$	53,070	$	—	$	52,904	$	166

Assets Measured at Fair Value on Nonrecurring Basis

	December 31, 2021
	Total		Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	17,651	$	—	$	—	$	17,651

	December 31, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	19,352	$	—	$	—	$	19,352

Estimated Fair Values of Financial Instruments

As of December 31, 2021 and 2020, the book balances and estimated fair values of the Company's financial instruments were as follows:

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
December 31, 2021
Financial assets:
Cash and cash equivalents	$	153,894	$	153,894	$	—	$	—	$	153,894
Available-for-sale securities, at fair value		113,346		—		108,417		4,929		113,346
Held-to-maturity securities, at amortized cost		934		—		914		—		914
Placements with banks		2,490		—		2,490		—		2,490
Mortgage loans held for sale, at fair value		15,836		—		15,836		—		15,836
Loans receivable, net		1,305,078		—		—		1,306,253		1,306,253
Accrued interest receivable		12,362		—		12,362		—		12,362
FHLBNY stock		6,001		6,001		—		—		6,001
Financial liabilities:
Deposits:
Demand deposits		274,956		274,956		—		—		274,956
Interest-bearing deposits		500,281		500,281		—		—		500,281
Certificates of deposit		429,479		—		431,339		—		431,339
Advance payments by borrowers for taxes and insurance		7,657		—		7,657		—		7,657
Advances from FHLBNY		106,255		—		106,680		—		106,680
Warehouse lines of credit		15,090		—		15,090		—		15,090
Mortgage loan fundings payable		—		—		—		—		—
Accrued interest payable		228		—		228		—		228

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
December 31, 2020
Financial assets:
Cash and cash equivalents	$	72,078	$	72,078	$	—	$	—	$	72,078
Available-for-sale securities		17,498		—		17,498		—		17,498
Held-to-maturity securities, at amortized cost		1,743		—		1,722		—		1,722
Placements with banks		2,739		—		2,739		—		2,739
Mortgage loans held for sale, at fair value		35,406		—		35,406		—		35,406
Loans receivable, net		1,158,640		—		—		1,182,971		1,182,971
Accrued interest receivable		11,396		—		11,396		—		11,396
FHLBNY stock		6,426		6,426		—		—		6,426
Financial liabilities:
Deposits:
Demand deposits		189,855		189,855		—		—		189,855
Interest-bearing deposits		432,737		432,737		—		—		432,737
Certificates of deposit		406,987		—		411,742		—		411,742
Advance payments by borrowers for taxes and insurance		7,019		—		7,019		—		7,019
Advances from FHLBNY		117,255		—		119,248		—		119,248
Warehouse lines of credit		29,961		—		29,961		—		29,961
Mortgage loan funding payable		1,483		—		1,483		—		1,483
Accrued interest payable		60		—		60		—		60

Regulatory Capital Requirements (Tables)

12 Months Ended

Dec. 31, 2021

Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]

Summary of Bank's Actual Capital Amounts and Ratios As Compared to Regulatory Requirements

Note 14. Regulatory Capital Requirements (Continued)

The Company's and the Bank’s actual capital amounts and ratios as of December 31, 2021 and 2020 as compared to regulatory requirements are as follows:

											To Be Well
											Capitalized Under
						For Capital					Prompt Corrective
	Actual					Adequacy Purposes					Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
	(Dollars in thousands)
December 31, 2021
PDL Community Bancorp
Total Capital to Risk-Weighted Assets	$	204,216		18.96	%	$	86,169		8.00	%	$	107,711		10.00	%
Tier 1 Capital to Risk-Weighted Assets		190,714		17.71	%		64,627		6.00	%		86,169		8.00	%
Common Equity Tier 1 Capital Ratio		190,714		17.71	%		48,470		4.50	%		70,012		6.50	%
Tier 1 Capital to Total Assets		190,714		12.58	%		60,629		4.00	%		75,786		5.00	%
Ponce Bank
Total Capital to Risk-Weighted Assets	$	184,689		17.23	%	$	85,735		8.00	%	$	107,168		10.00	%
Tier 1 Capital to Risk-Weighted Assets		171,253		15.98	%		64,301		6.00	%		85,735		8.00	%
Common Equity Tier 1 Capital Ratio		171,253		15.98	%		48,226		4.50	%		69,659		6.50	%
Tier 1 Capital to Total Assets		171,253		10.91	%		62,784		4.00	%		78,481		5.00	%

											To Be Well
											Capitalized Under
						For Capital					Prompt Corrective
	Actual					Adequacy Purposes					Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
	(Dollars in thousands)
December 31, 2020
PDL Community Bancorp
Total Capital to Risk-Weighted Assets	$	171,578		17.68	%	$	77,644		8.00	%	$	97,055		10.00	%
Tier 1 Capital to Risk-Weighted Assets		159,410		16.42	%		58,233		6.00	%		77,644		8.00	%
Common Equity Tier 1 Capital Ratio		159,410		16.42	%		43,675		4.50	%		63,086		6.50	%
Tier 1 Capital to Total Assets		159,410		13.34	%		47,814		4.00	%		59,768		5.00	%
Ponce Bank
Total Capital to Risk-Weighted Assets	$	153,951		15.95	%	$	77,213		8.00	%	$	96,516		10.00	%
Tier 1 Capital to Risk-Weighted Assets		141,850		14.70	%		57,909		6.00	%		77,213		8.00	%
Common Equity Tier 1 Capital Ratio		141,850		14.70	%		43,432		4.50	%		62,735		6.50	%
Tier 1 Capital to Total Assets		141,850		11.19	%		50,715		4.00	%		63,394		5.00	%

Mortgage World Bankers Inc

Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]

Summary of Bank's Actual Capital Amounts and Ratios As Compared to Regulatory Requirements

Mortgage World’s minimum net worth requirements as of December 31, 2021 are reflected below:

	Mininum
	Requirement
	(in thousands)
HUD	$	1,000
New York Department of Financial Services		250
Other State Banking Departments		250

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows:

	December 31, 2021
	(in thousands)
	December 31, 2020		Change			December 31, 2021


Unrealized gain (losses) on securities available-for-sale, net	$	135	$	(1,591	)	$	(1,456	)
Total	$	135	$	(1,591	)	$	(1,456	)

	December 31, 2020
	(in thousands)
	December 31, 2019		Change		December 31, 2020
Unrealized gains on available-for-sale securities, net	$	20	$	115	$	135
Total	$	20	$	115	$	135

Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Aggregate Loan Transactions with Related Parties

Aggregate loan transactions with related parties for the years ended December 31, 2021, 2020, and 2019 were as follows:

	For the Years Ended December 31,
	2021			2020			2019
	(in thousands)
Beginning balance	$	424		$	1,260		$	1,278
Originations		10			197			60
Payments		(82	)		(1,033	)		(78	)
Ending balance	$	352		$	424		$	1,260

Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Consolidated Statements of Financial Condition

The following are the condensed financial statements of the Parent as of and for the years ended December 31, 2021 and 2020.

	December 31,
ASSETS	2021		2020
	(in thousands)
Cash and cash equivalents	$	124,867	$	3,770
Investment in Ponce Bank		169,797		141,985
Investment in Mortgage World		5,406		5,297
Investment in Grain		1,000		500
Loan receivable - ESOP		4,455		5,469
Other assets		6,612		2,790
Total assets	$	312,137	$	159,811

LIABILITIES AND STOCKHOLDERS' EQUITY
Funds due to Ponce Financial	$	122,000	$	—
Other liabilities and accrued expenses		881		267
Stockholders' equity		189,256		159,544
Total liabilities and stockholders' equity	$	312,137	$	159,811

Schedule of Condensed Consolidated Statements of Income (Loss)

	For the Years Ended December 31,
	2021			2020
	(in thousands)
Interest on ESOP loan	$	142		$	153
Interest on other deposits		16			86
Net interest income		158			239
Share-based compensation expense		1,405			1,403
Management fee expense		514			514
Office occupancy and equipment		58			55
Professional fees		1,240			1,625
Other noninterest expenses		72			67
Total noninterest expense		3,289			3,664
Loss before income taxes		(3,131	)		(3,425	)
Benefit for income taxes		(381	)		(659	)
Equity in undistributed earnings of Ponce Bank and Mortgage World		28,165			6,619
Net income	$	25,415		$	3,853

Schedule of Condensed Consolidated Statements of Cash Flows

	For the Years Ended December 31,
	2021			2020
	(in thousands)
Cash Flows from Operating Activities:
Net income	$	25,415		$	3,853
Adjustments to reconcile net income to net cash used in operating activities:
Equity in undistributed earnings of subsidiaries		(28,165	)		(6,619	)
Deferred income tax		(1,381	)		(659	)
Share-based compensation expense		1,405			1,403
Decrease (increase) in other assets		(2,193	)		913
Net increase (decrease) in other liabilities		366			(840	)
Net cash used in operating activities		(4,553	)		(1,949	)
Cash Flows from Investing Activities:
Investment in Mortgage World		—			(3,464	)
Investment in Grain		(500	)		(500	)
Loan to Foundation		—			606
Repayment of ESOP Loan		1,014			425
Net cash provided by (used in) investing activities		514			(2,933	)
Cash Flows from Financing Activities:
Funds due to Ponce Financial		122,000			—
Repurchase of treasury shares		(1,607	)		—
Proceeds from the sale of treasury stock		4,743			(4,711	)
Net cash provided by (used in) financing activities		125,136			(4,711	)
Net increase (decrease) in cash and cash equivalents		121,097			(9,593	)
Cash and cash equivalents at beginning of year		3,770			13,363
Cash and cash equivalents at end of year	$	124,867		$	3,770

Quarterly Financial Information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

	2021								2020
	Fourth		Third		Second		First		Fourth		Third		Second			First
	(Dollars in thousands except share data)
Net interest income	$	16,782	$	15,440	$	13,732	$	12,892	$	11,674	$	10,851	$	9,521		$	9,924
Provision for loan losses		873		572		586		686		406		620		271			1,146
Net interest income after provision for loan losses		15,909		14,868		13,146		12,206		11,268		10,231		9,250			8,778
Noninterest income		19,169		3,234		8,341		3,893		4,799		7,252		574			622
Noninterest expense		15,854		14,732		13,641		12,915		13,955		12,327		10,435			10,822
Income (loss) before income taxes		19,224		3,370		7,846		3,184		2,112		5,156		(611	)		(1,422	)
Provision (benefit) for income taxes		4,245		1,318		1,914		732		484		1,147		(40	)		(209	)
Net income (loss)	$	14,979	$	2,052	$	5,932	$	2,452	$	1,628	$	4,009	$	(571	)	$	(1,213	)

Basic earnings (loss) per share	$	0.90	$	0.12	$	0.35	$	0.15	$	0.10	$	0.24	$	(0.03	)	$	(0.07	)
Diluted earnings (loss) per share	$	0.89	$	0.12	$	0.35	$	0.15	$	0.10	$	0.24	$	(0.03	)	$	(0.07	)
Basic weighted average common shares		16,864,929		16,823,731		16,737,037		16,548,196		16,558,576		16,612,205		16,723,449			16,800,538
Diluted weighted average common shares		16,924,785		16,914,833		16,773,606		16,548,196		16,558,576		16,612,205		16,723,449			16,800,538

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Operations and Total Assets of Operating Segments

The following tables set forth condensed consolidated statements of operations and total assets for the operating segments for the years ended December 31, 2021 and 2020, respectively:

	For the Year Ended December 31, 2021
	Ponce Bank		Mortgage World		PDL Community Bancorp			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	66,647	$	451	$	158		$	(158	)	$	67,098
Interest expense		8,015		395		—			(158	)		8,252
Net interest income		58,632		56		158			—			58,846
Provision for loan losses		2,717		—		—			—			2,717
Net interest income after provision for loan losses		55,915		56		158			—			56,129
Total non-interest income		26,385		9,327		—			(1,075	)		34,637
Total non-interest expense		45,704		9,224		3,289			(1,075	)		57,142
Income (loss) before income taxes		36,596		159		(3,131	)		—			33,624
Provision (benefit) for income taxes		8,540		50		(381	)		—			8,209
Equity in undistributed earnings of Ponce Bank and Mortgage World		—		—		28,165			(28,165	)		—
Net income (loss)	$	28,056	$	109	$	25,415		$	(28,165	)	$	25,415

Total assets	$	1,630,031	$	20,096	$	312,137		$	(308,754	)	$	1,653,510

	For the Year Ended December 31, 2020
	Ponce Bank		Mortgage World		PDL Community Bancorp			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	53,064	$	275	$	239		$	(239	)	$	53,339
Interest expense		11,357		251		—			(239	)		11,369
Net interest income		41,707		24		239			—			41,970
Provision for loan losses		2,443		—		—			—			2,443
Net interest income after provision for loan losses		39,264		24		239			—			39,527
Non-interest income		7,554		6,207		—			(514	)		13,247
Non-interest expense		40,510		3,877		3,664			(512	)		47,539
Income (loss) before income taxes		6,308		2,354		(3,425	)		(2	)		5,235
Provision (benefit) for income taxes		1,520		521		(659	)		—			1,382
Equity in undistributed earnings of Ponce Bank and Mortgage World		—		—		6,619			(6,619	)		—
Net income (loss)	$	4,788	$	1,833	$	3,853		$	(6,621	)	$	3,853

Total assets	$	1,315,287	$	38,397	$	159,811		$	(158,264	)	$	1,355,231

Nature of Business and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		3 Months Ended								12 Months Ended
	Jul. 10, 2020 BranchOffice MortgageOffice	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2021 USD ($) Segment BranchLease	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2022 USD ($)
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Percentage of employee discretionary matching, profit sharing and safe harbor contributions, maximum										4.00%
Number of branch banking offices \| BranchOffice	13
Number of branch mortgage loan offices \| MortgageOffice	5
Provision for loan losses (Note 5) \| $		$ 873	$ 572	$ 586	$ 686	$ 406	$ 620	$ 271	$ 1,146	$ 2,717	$ 2,443	$ 258
Minimum collection percentage of securities required to be considered as a maturity										85.00%
Period of historical loss experience to estimate allowance for loan losses										36 months
Percentage of largest amount of tax benefits likely to realize										50.00%
Number of business segment \| Segment										2
Number of leased branches \| BranchLease										13
Scenario Forecast
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Right of use asset \| $													$ 35,300
Operating lease liability \| $													$ 35,500
Construction Loans
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Provision for loan losses (Note 5) \| $										$ 204	38	151
Commercial Real Estate Portfolio Segment
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Period on which interest rate is adjusted										5 years
Commercial Portfolio Segment
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Provision for loan losses (Note 5) \| $										$ (32)	$ (95)	$ 608
Minimum
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Percentage of loan to value ratio										65.00%
Minimum \| Construction Loans
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Loan term										6 months
Minimum \| Commercial Real Estate Portfolio Segment
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Loan amortization period										15 years
Balloon payments period of loan										10 years
Minimum \| Commercial Portfolio Segment
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Loan term										5 years
Maximum
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Percentage of loan to value ratio										90.00%
Maximum \| Construction Loans
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Loan term										2 years
Maximum \| Commercial Real Estate Portfolio Segment
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Percentage of loan to value ratio										75.00%
Loan amortization period										30 years
Balloon payments period of loan										15 years
Maximum \| Commercial Portfolio Segment
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Loan term										7 years
COVID-19
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Provision for loan losses (Note 5) \| $										$ 2,700
Mortgage World Bankers Inc
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Business Acquisition, Effective Date of Acquisition	Jul. 10, 2020									Jul. 10, 2020
Business Acquisition, Name of Acquired Entity	Mortgage World									Mortgage World
Bronx
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices \| BranchOffice	4
Manhattan
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices \| BranchOffice	2
Queens
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices \| BranchOffice	3
Number of branch mortgage loan offices \| MortgageOffice	2
Brooklyn
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices \| BranchOffice	3
Number of branch mortgage loan offices \| MortgageOffice	1
Union City
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices \| BranchOffice	1
New York and Englewood Cliffs
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch mortgage loan offices \| MortgageOffice	1
Bergenfield
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch mortgage loan offices \| MortgageOffice	1

Nature of Business and Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	12 Months Ended
	Dec. 31, 2021
Building
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	39 years
Minimum \| Building Improvements
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	15 years
Minimum \| Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	3 years
Maximum \| Building Improvements
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	39 years
Maximum \| Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	10 years

Business Acquisition - Additional Information (Details) - Mortgage World Bankers Inc - USD ($)		12 Months Ended
	Jul. 10, 2020	Dec. 31, 2021
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Jul. 10, 2020	Jul. 10, 2020
Business Acquisition, Name of Acquired Entity	Mortgage World	Mortgage World
Business Combination, Consideration Transferred		$ 1,755,000
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		$ 0

Business Acquisition - Summary of Estimated Fair Values of the Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Mortgage loans held for sale, at fair value	$ 15,800
Premises and equipment, net (Note 6)	19,617	$ 32,045
Other assets	20,132	12,604
Total assets	1,653,510	1,355,231
Liabilities:
Other liabilities	8,308	10,330
Total liabilities	1,464,254	$ 1,195,687
Mortgage World Bankers Inc
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	1,755
ASSETS
Cash and cash equivalents	750
Mortgage loans held for sale, at fair value	10,549
Premises and equipment, net (Note 6)	302
Other assets	772
Total assets	12,373
Liabilities:
Warehouse lines of credit	9,135
Mortgage loans fundings payable	1,237
Other liabilities	246
Total liabilities	10,618
Net assets	$ 1,755

Restrictions on Cash and Due From Banks - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Cash And Cash Equivalents [Abstract]
Total Restricted cash	$ 70,000	$ 150,000

Securities - Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Available-for-Sale Securities:
Amortized Cost	$ 115,174	$ 17,351
Gross Unrealized Gains	150	165
Gross Unrealized Losses	(1,978)	(18)
Fair Value	113,346	17,498
Held-to-Maturity Securities:
Amortized Cost	934	1,743
Gross Unrealized Losses	(20)	(21)
Fair Value	914	1,722
U.S. Government Bonds
Available-for-Sale Securities:
Amortized Cost	2,981	10,381
Gross Unrealized Losses	(47)
Fair Value	2,934	10,463
Corporate Bonds
Available-for-Sale Securities:
Amortized Cost	21,243	10,381
Gross Unrealized Gains	144	95
Gross Unrealized Losses	(203)	(13)
Fair Value	21,184	10,463
Collateralized Mortgage Obligations
Available-for-Sale Securities:
Amortized Cost	18,845
Gross Unrealized Losses	(497)
Fair Value	18,348
FNMA Certificates
Available-for-Sale Securities:
Amortized Cost	71,930	3,506
Gross Unrealized Gains		61
Gross Unrealized Losses	(1,231)
Fair Value	70,699	3,567
GNMA Certificates
Available-for-Sale Securities:
Amortized Cost	175	263
Gross Unrealized Gains	6	9
Fair Value	181	272
FHLMC Certificates
Available-for-Sale Securities:
Amortized Cost		3,201
Gross Unrealized Losses		(5)
Fair Value		3,196
Held-to-Maturity Securities:
Amortized Cost	934	1,743
Gross Unrealized Losses	(20)	(21)
Fair Value	$ 914	$ 1,722

Securities - Additional Information (Details)	12 Months Ended
Securities - Additional Information (Details)	Dec. 31, 2021 USD ($) Security	Dec. 31, 2020 USD ($) Security
Schedule Of Available For Sale Securities [Line Items]
Held to maturity \| Security	1
Available For Sale Securities \| Security	29	8
Available For Sale Securities Amount	$ 3,600,000
Sale of Held - to maturity Securities	0
Sale of available-for-sale securities	0
Available-for-sale securities matured	2,700,000	$ 17,800,000
Purchases of available-for-sale securities	109,900,000	13,600,000
Purchases of Held-to-maturity securities	$ 1,700,000	$ 1,743,000
Number of held-to-maturity security \| Security	1	1
Number of investment securities not other than temporary \| Security	23	3
Securities pledged	$ 0	$ 0
Available For Sale Of Security [Member]
Schedule Of Available For Sale Securities [Line Items]
Available For Sale Securities \| Security	2

Securities - Company's Securities Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	$ 104,964	$ 4,913
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Loss	(1,900)	(18)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	2,314
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Loss	(78)
Securities With Gross Unrealized Losses, Total Fair Value	107,278	4,913
Securities With Gross Unrealized Losses, Total Unrealized Loss	(1,978)	(18)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	914	1,722
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Loss	(20)	(21)
Securities With Gross Unrealized Losses, Total Fair Value	914	1,722
Securities With Gross Unrealized Losses, Total Unrealized Loss	(20)	(21)
U.S. Government Bonds
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	2,934
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Loss	(47)
Securities With Gross Unrealized Losses, Total Fair Value	2,934
Securities With Gross Unrealized Losses, Total Unrealized Loss	(47)
Corporate Bonds
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	15,297	1,717
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Loss	(203)	(13)
Securities With Gross Unrealized Losses, Total Fair Value	15,297	1,717
Securities With Gross Unrealized Losses, Total Unrealized Loss	(203)	(13)
FNMA Certificates
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	70,699	3,196
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Loss	(1,231)	(5)
Securities With Gross Unrealized Losses, Total Fair Value	70,699	3,196
Securities With Gross Unrealized Losses, Total Unrealized Loss	(1,231)	(5)
Collateralized Mortgage Obligations
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	16,034
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Loss	(419)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	2,314
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Loss	(78)
Securities With Gross Unrealized Losses, Total Fair Value	18,348
Securities With Gross Unrealized Losses, Total Unrealized Loss	(497)
FHLMC Certificates
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	914	1,722
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Loss	(20)	(21)
Securities With Gross Unrealized Losses, Total Fair Value	914	1,722
Securities With Gross Unrealized Losses, Total Unrealized Loss	$ (20)	$ (21)

Securities - Summary of Maturities of Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost	$ 115,174	$ 17,351
Held-to-Maturity Securities:
Held-to-Maturity Securities, Amortized Cost	934	1,743
Available-for-sale securities, at fair value (Note 4)	113,346	17,498
Held-to-maturity securities, at amortized cost ,fair value	914	1,722
U.S. Government Bonds
Available-for-Sale Securities:
Available-for-Sale Securities After one year through five years, Amortized Cost	2,981	2,651
Available-for-Sale Securities After five years through ten years, Amortized Cost		7,730
Available-for-Sale Securities, Amortized Cost	2,981	10,381
Held-to-Maturity Securities:
Available-for-Sale Securities After one year through five years, Amortized Cost	2,934	2,728
Available-for-Sale Securities After five years through ten years, Amortized Cost		7,735
Available-for-sale securities, at fair value (Note 4)	2,934	10,463
Corporate Bonds
Available-for-Sale Securities:
Available-for-Sale Securities After one year through five years, Amortized Cost	4,445
Available-for-Sale Securities After five years through ten years, Amortized Cost	16,798
Available-for-Sale Securities, Amortized Cost	21,243	10,381
Held-to-Maturity Securities:
Available-for-Sale Securities After one year through five years, Amortized Cost	4,381
Available-for-Sale Securities After five years through ten years, Amortized Cost	16,803
Available-for-sale securities, at fair value (Note 4)	21,184	10,463
Mortgage-Backed Securities
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost	90,950	6,970
Held-to-Maturity Securities:
Held-to-Maturity Securities, Amortized Cost	934
Available-for-sale securities, at fair value (Note 4)	89,228	7,035
Held-to-maturity securities, at amortized cost ,fair value	914
FHLMC Certificates
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost		3,201
Held-to-Maturity Securities:
Held-to-Maturity Securities, Amortized Cost		1,743
Available-for-sale securities, at fair value (Note 4)		3,196
Held-to-maturity securities, at amortized cost ,fair value	$ 914	$ 1,722

Summary of Loans (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Financing Receivable Recorded Investment Past Due [Line Items]

Net deferred loan origination costs

$ 1,322,098

$ 1,172,053

(668)

1,457

Allowance for loan losses

(16,352)

(14,870)

Loans receivable, net

1,305,078

1,158,640

Multifamily Residential

Financing Receivable Recorded Investment Past Due [Line Items]

Nonresidential Properties

348,300

307,411

Financing Receivable Recorded Investment Past Due [Line Items]

Financing Receivable Recorded Investment Past Due [Line Items]

239,691

218,929

Construction and Land

Commercial Portfolio Segment

134,651

105,858

Financing Receivable Recorded Investment Past Due [Line Items]

Financing Receivable Recorded Investment Past Due [Line Items]

150,512

94,947

Consumer Loans

Financing Receivable Recorded Investment Past Due [Line Items]

34,693

26,517

Mortgage Loans

Mortgage Loans | 1-4 Family Residential Investor Owned

1,136,893

1,050,589

Financing Receivable Recorded Investment Past Due [Line Items]

Mortgage Loans | 1-4 Family Residential Owner-Occupied

317,304

319,596

Financing Receivable Recorded Investment Past Due [Line Items]

Mortgage Loans | Multifamily Residential

96,947

98,795

Financing Receivable Recorded Investment Past Due [Line Items]

Mortgage Loans | Nonresidential Properties

348,300

307,411

Financing Receivable Recorded Investment Past Due [Line Items]

Mortgage Loans | Construction and Land

239,691

218,929

Financing Receivable Recorded Investment Past Due [Line Items]

Financing Receivable Recorded Investment Past Due [Line Items]

134,651

105,858

Nonmortgage Loans

Nonmortgage Loans | Commercial Portfolio Segment

185,205

121,464

Financing Receivable Recorded Investment Past Due [Line Items]

Nonmortgage Loans | Consumer Loans

^[1]

150,512

94,947

Financing Receivable Recorded Investment Past Due [Line Items]

Total NOW, money market, reciprocal and savings

^[2]

$ 34,693

$ 26,517

[1]	As of December 31, 2021 and 2020, business loans include $136.8 million and $85.3 million, respectively, of SBA PPP loans.
[2]	As of December 31, 2021 and 2020, consumer loans include $33.9 million and $25.5 million, respectively, pursuant to the Bank’s arrangement with Grain.

Summary of Loans (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 1,322,098	$ 1,172,053
Business
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	150,512	94,947
Business \| PPP Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	136,800	85,300
Consumer Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	34,693	26,517
Consumer Loans \| PPP Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 33,900	$ 25,500

Loans Receivable and Allowance for Loan Losses - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) Loan	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($)
Accounts Notes And Loans Receivable [Line Items]
Restructured loans \| Loan	0	0
Number of troubled debt restructured loans \| Loan	30	32
Troubled debt restructured loans	$ 8,700,000	$ 9,700,000
Troubled debt restructured loan, accrual status	6,200,000	6,600,000
Impairment reserves	$ 243,000	$ 292,000	$ 459,000
Number of loan held for sale \| Loan		1
Loans held for sale		$ 1,000,000.0
Mortgage World Bankers Inc
Accounts Notes And Loans Receivable [Line Items]
Number of loan held for sale \| Loan	27	70
Loans held for sale	$ 15,500,000	$ 34,400,000
Troubled Debt Restructured Loans
Accounts Notes And Loans Receivable [Line Items]
Impairment reserves	$ 243,000	$ 292,000
Minimum
Accounts Notes And Loans Receivable [Line Items]
Strong Pass Loans to new or existing borrowers collateralized percentage	90.00%

Aging Analysis of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 1,322,098	$ 1,172,053
Nonaccrual Loans	11,442	11,683
1-4 Family Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	96,947	98,795
Nonaccrual Loans	3,480	3,250
Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	348,300	307,411
Nonaccrual Loans	1,200	946
Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	239,691	218,929
Nonaccrual Loans	2,262	4,429
1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	317,304	319,596
Nonaccrual Loans	3,583	3,058
Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	134,651	105,858
Nonaccrual Loans	917
Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,299,413	1,156,951
Current \| 1-4 Family Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	91,568	95,775
Current \| Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	346,409	305,325
Current \| Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	237,589	215,657
Current \| 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	312,918	313,960
Current \| Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	134,651	105,858
Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	12,526	5,531
Financial Asset, 30 to 59 Days Past Due \| 1-4 Family Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,961	1,572
Financial Asset, 30 to 59 Days Past Due \| Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,704	1,140
Financial Asset, 30 to 59 Days Past Due \| Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	934
Financial Asset, 30 to 59 Days Past Due \| 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	321	2,222
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	7,098	2,171
Financing Receivables, 60 to 89 Days Past Due \| 1-4 Family Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	471	348
Financing Receivables, 60 to 89 Days Past Due \| Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	187
Financing Receivables, 60 to 89 Days Past Due \| Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,168
Financing Receivables, 60 to 89 Days Past Due \| 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,969	1,507
Financing Receivables, 90 Days or More Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	3,061	7,400
Financing Receivables, 90 Days or More Past Due \| 1-4 Family Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,947	1,100
Financing Receivables, 90 Days or More Past Due \| Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		946
Financing Receivables, 90 Days or More Past Due \| Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		3,272
Financing Receivables, 90 Days or More Past Due \| 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,096	1,907
Business
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	150,512	94,947
Business \| Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	145,919	94,847
Business \| Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	4,036	100
Business \| Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	544
Business \| Financing Receivables, 90 Days or More Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	13
Consumer
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	34,693	26,517
Consumer \| Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	30,359	25,529
Consumer \| Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,570	497
Consumer \| Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,759	316
Consumer \| Financing Receivables, 90 Days or More Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 5	$ 175

Composition of Allowance for Loan Losses and Related Recorded Investment in Loans (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				$ 14,870				$ 12,329	$ 14,870	$ 12,329	$ 12,659
Provision charged to expense	$ 873	$ 572	$ 586	686	$ 406	$ 620	$ 271	1,146	2,717	2,443	258
Losses charged-off									(1,380)	(6)	(732)
Recoveries									145	104	144
Balance, end of period	16,352				14,870				16,352	14,870	12,329
Ending balance: individually evaluated for impairment	243				292				243	292	459
Ending balance: collectively evaluated for impairment	16,109				14,578				16,109	14,578	11,870
Ending balance: individually evaluated for impairment	17,651				19,352				17,651	19,352	19,232
Ending balance: collectively evaluated for impairment	1,304,447				1,152,701				1,304,447	1,152,701	946,864
Total	1,322,098				1,172,053				1,322,098	1,172,053	966,096
1-4 Family Owner-Occupied
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				1,260				1,067	1,260	1,067	1,208
Provision charged to expense									(127)	193	(141)
Recoveries									45
Balance, end of period	1,178				1,260				1,178	1,260	1,067
Ending balance: individually evaluated for impairment	114				134				114	134	149
Ending balance: collectively evaluated for impairment	1,064				1,126				1,064	1,126	918
Ending balance: individually evaluated for impairment	5,854				5,754				5,854	5,754	5,572
Ending balance: collectively evaluated for impairment	91,093				93,041				91,093	93,041	86,371
Total	96,947				98,795				96,947	98,795	91,943
Multifamily
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				5,214				3,865	5,214	3,865	3,829
Provision charged to expense									508	1,349	36
Losses charged-off									(38)
Balance, end of period	5,684				5,214				5,684	5,214	3,865
Ending balance: collectively evaluated for impairment	5,684				5,214				5,684	5,214	3,865
Ending balance: individually evaluated for impairment	1,200				946				1,200	946
Ending balance: collectively evaluated for impairment	347,100				306,465				347,100	306,465	250,239
Total	348,300				307,411				348,300	307,411	250,239
Nonresidential
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				2,194				1,849	2,194	1,849	1,925
Provision charged to expense									(29)	341	(85)
Recoveries										4	9
Balance, end of period	2,165				2,194				2,165	2,194	1,849
Ending balance: individually evaluated for impairment	38				40				38	40	31
Ending balance: collectively evaluated for impairment	2,127				2,154				2,127	2,154	1,818
Ending balance: individually evaluated for impairment	2,995				5,184				2,995	5,184	5,548
Ending balance: collectively evaluated for impairment	236,696				213,745				236,696	213,745	201,677
Total	239,691				218,929				239,691	218,929	207,225
1-4 Family Residential Investor Owned
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				3,850				3,503	3,850	3,503	3,799
Provision charged to expense									(318)	347	(311)
Losses charged-off											(8)
Recoveries									8		23
Balance, end of period	3,540				3,850				3,540	3,850	3,503
Ending balance: individually evaluated for impairment	91				118				91	118	265
Ending balance: collectively evaluated for impairment	3,449				3,732				3,449	3,732	3,238
Ending balance: individually evaluated for impairment	6,672				7,468				6,672	7,468	6,973
Ending balance: collectively evaluated for impairment	310,632				312,128				310,632	312,128	298,299
Total	317,304				319,596				317,304	319,596	305,272
Construction and Land
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				1,820				1,782	1,820	1,782	1,631
Provision charged to expense									204	38	151
Balance, end of period	2,024				1,820				2,024	1,820	1,782
Ending balance: collectively evaluated for impairment	2,024				1,820				2,024	1,820	1,782
Ending balance: individually evaluated for impairment	917								917		1,125
Ending balance: collectively evaluated for impairment	133,734				105,858				133,734	105,858	98,184
Total	134,651				105,858				134,651	105,858	99,309
Business
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				254				254	254	254	260
Provision charged to expense									(32)	(95)	608
Losses charged-off											(724)
Recoveries									84	95	110
Balance, end of period	306				254				306	254	254
Ending balance: individually evaluated for impairment											14
Ending balance: collectively evaluated for impairment	306				254				306	254	240
Ending balance: individually evaluated for impairment	13								13		14
Ending balance: collectively evaluated for impairment	150,499				94,947				150,499	94,947	10,863
Total	150,512				94,947				150,512	94,947	10,877
Consumer
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period				$ 278				$ 9	278	9	7
Provision charged to expense									2,511	270
Losses charged-off									(1,342)	(6)
Recoveries									8	5	2
Balance, end of period	1,455				278				1,455	278	9
Ending balance: collectively evaluated for impairment	1,455				278				1,455	278	9
Ending balance: collectively evaluated for impairment	34,693				26,517				34,693	26,517	1,231
Total	$ 34,693				$ 26,517				$ 34,693	$ 26,517	$ 1,231

Information Relates to Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	$ 18,957	$ 20,696	$ 20,687
Recorded Investment With No Allowance	15,302	16,372	14,688
Recorded Investment With Allowance	2,349	2,980	4,544
Total Recorded Investment	17,651	19,352	19,232
Related Allowance	243	292	459
Average Recorded Investment	17,569	18,289	18,404
Interest Income Recognized on Cash Basis	307	388	488
1-4 Family
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	13,333	14,118	13,566
Recorded Investment With No Allowance	10,535	10,613	8,390
Recorded Investment With Allowance	1,991	2,609	4,155
Total Recorded Investment	12,526	13,222	12,545
Related Allowance	205	252	414
Average Recorded Investment	12,145	12,306	12,995
Interest Income Recognized on Cash Basis	189	321	361
Multifamily Residential
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	1,200	946
Recorded Investment With No Allowance	1,200	946
Total Recorded Investment	1,200	946
Average Recorded Investment	1,139	231	6
Interest Income Recognized on Cash Basis	63	34
Nonresidential Properties
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	3,494	5,632	5,640
Recorded Investment With No Allowance	2,637	4,813	5,173
Recorded Investment With Allowance	358	371	375
Total Recorded Investment	2,995	5,184	5,548
Related Allowance	38	40	31
Average Recorded Investment	3,941	5,339	3,988
Interest Income Recognized on Cash Basis	38	33	121
Construction and Land
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	917		1,465
Recorded Investment With No Allowance	917		1,125
Total Recorded Investment	917		1,125
Average Recorded Investment	307	405	1,219
Interest Income Recognized on Cash Basis	17		6
Business
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	13		16
Recorded Investment With No Allowance	13
Recorded Investment With Allowance			14
Total Recorded Investment	13		14
Related Allowance			14
Average Recorded Investment	13	$ 8	195
Consumer
Financing Receivable Impaired [Line Items]
Average Recorded Investment	$ 24		$ 1

Summary of Premises and Equipment (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 31,382,000	$ 56,304,000
Less accumulated depreciation and amortization	(11,765,000)	(24,259,000)
Total premises and equipment, net	19,617,000	32,045,000
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	932,000	3,897,000
Building Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	4,327,000	17,119,000
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	16,462,000	26,104,000
Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 9,661,000	$ 9,184,000

Premises and Equipment - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Depreciation and amortization	$ 2,473,000	$ 2,519,000	$ 2,222,000
Property, plant and equipment, gross	31,382,000	56,304,000
Leasehold Improvements
Property Plant And Equipment [Line Items]
Increase (decrease) in property, plant and equipment	(9,600,000)
Property, plant and equipment, gross	16,462,000	26,104,000
Building Improvements
Property Plant And Equipment [Line Items]
Increase (decrease) in property, plant and equipment	(12,800,000)
Property, plant and equipment, gross	4,327,000	17,119,000
Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Increase (decrease) in property, plant and equipment	477,000
Property, plant and equipment, gross	9,661,000	9,184,000
Land
Property Plant And Equipment [Line Items]
Increase (decrease) in property, plant and equipment	(3,000,000.0)
Property, plant and equipment, gross	932,000	$ 3,897,000
Offset Improvement
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 2,300,000

Deposits - Summarized Deposits (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Banking And Thrifts [Abstract]

Demand

^[1]

$ 274,956

$ 189,855

NOW/IOLA accounts

35,280

39,296

Money market accounts

186,893

136,258

Reciprocal deposits

143,221

131,363

Savings accounts

134,887

125,820

500,281

432,737

Certificates of deposit of $250K or more

78,454

78,435

Brokered certificates of deposit

^[2]

79,320

52,678

Listing service deposits

^[2]

66,411

39,476

Certificates of deposit less than $250K

205,294

236,398

Total certificates of deposit

429,479

406,987

Total interest-bearing deposits

929,760

839,724

Total deposits

$ 1,204,716

$ 1,029,579

[1]	As of December 31, 2021 and 2020, included in demand deposits are deposits related to net PPP funding.
[2]	As of December 31, 2021 and 2020, there were $29.0 million and $27.0 million, respectively, in individual listing service deposits amounting to $250,000 or more. All brokered certificates of deposit individually amounted to less than $250,000.

Deposits - Summarized Deposits (Parenthetical) (Details) - USD ($)

Dec. 31, 2021

Dec. 31, 2020

Time Deposits [Line Items]

Individual brokered certification of deposit

$ 29,000,000.0

$ 27,000,000.0

Listing service deposits

^[1]

66,411,000

39,476,000

Brokered certificates of deposit

^[1]

79,320,000

$ 52,678,000

Minimum

Time Deposits [Line Items]

Listing service deposits

250,000

Maximum

Time Deposits [Line Items]

Brokered certificates of deposit

$ 250,000

[1]	As of December 31, 2021 and 2020, there were $29.0 million and $27.0 million, respectively, in individual listing service deposits amounting to $250,000 or more. All brokered certificates of deposit individually amounted to less than $250,000.

Deposits - Scheduled Maturities of Certificates of Deposit (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Banking And Thrifts [Abstract]
2022	$ 255,075
2023	48,842
2024	28,899
2025	39,342
2026	53,321
Thereafter	4,000
Total certificates of deposit	$ 429,479	$ 406,987

Deposits - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Banking And Thrifts [Abstract]
Overdrawn deposit reclassified to loans amounted	$ 179,000	$ 102,000

Borrowings - Additional Information (Details) - USD ($)	12 Months Ended
Borrowings - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Line Of Credit Facility [Line Items]
Advance from the Federal Home Loan Bank	$ 106,300,000	$ 109,300,000
Unsecured fed fund line amount outstanding	25,000,000.0	25,000,000.0
Unsecured fed fund line amount outstanding	14,910,000	4,939,000
Repayments of advances from FHLBNY	22,500,000	179,879,000	$ 664,498,000
Interest expense on FHLBNY advances	2,200,000	2,500,000	1,700,000
Interest Expense on overnight advances		173,000,000	130,000,000
Collateral mortgage loans available to secure advances from the FHLB	$ 362,300	336,800
Warehouse line of credit expiration date	Jun. 30, 2022
Mortgage loans funding payable	$ 0	1,500
Warehouse Line of Credit #1
Line Of Credit Facility [Line Items]
Unsecured fed fund line amount outstanding	$ 8,636,000	$ 2,171,000
Debt Instrument, Interest Rate, Basis for Effective Rate	The interest rate is based on the 30-day LIBOR rate plus 3.25%.
Line of credit facility, effective interest rate	3.35%	3.39%
Warehouse Line of Credit #2
Line Of Credit Facility [Line Items]
Unsecured fed fund line amount outstanding	$ 6,274,000	$ 2,768,000
Debt Instrument, Interest Rate, Basis for Effective Rate	The interest rate is based on the 30-day LIBOR rate plus 3.00%
Line of credit facility, effective interest rate	3.10%	3.14%
Variable Rate Above LIBOR \| Warehouse Line of Credit #1
Line Of Credit Facility [Line Items]
Interest rate, LIBOR/Variable rate	3.25%
Variable Rate Above LIBOR \| Warehouse Line of Credit #2
Line Of Credit Facility [Line Items]
Interest rate, LIBOR/Variable rate	3.00%
Maximum
Line Of Credit Facility [Line Items]
Guarantee from the FHLBNY through a standby letter of credit	$ 21,500,000	$ 61,500,000
FHLBNY
Line Of Credit Facility [Line Items]
Unsecured fed fund line amount outstanding		$ 0	$ 0
Repayments of advances from FHLBNY	$ 11,000,000.0

Borrowings - Schedule of Borrowed Funds FHLBNY Advances Maturity and Call Date (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Line Of Credit Facility [Line Items]
2021		$ 3,000
2022	$ 77,880	77,880
2023	28,375	28,375
Total	106,255	117,255
2021		3,000
2022	77,880	77,880
2023	28,375	28,375
Total	$ 106,255	$ 117,255
2021		1.84%
2022	1.73%	1.73%
2023	2.82%	2.82%
Total	2.02%	1.90%
FHLBNY
Line Of Credit Facility [Line Items]
Overnight line of credit advance		$ 8,000
Overnight line of credit advance		$ 8,000
Overnight advances		0.34%

Borrowings - Schedule of Warehouse Lines of Credit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Credit Line Maximum	$ 30,000	$ 34,900
Unused Line of Credit	14,910	4,939
Balance	15,090	29,961
Warehouse Line of Credit #1
Debt Instrument [Line Items]
Credit Line Maximum	15,000	29,900
Unused Line of Credit	8,636	2,171
Balance	6,364	27,729
Warehouse Line of Credit #2
Debt Instrument [Line Items]
Credit Line Maximum	15,000	5,000
Unused Line of Credit	6,274	2,768
Balance	$ 8,726	$ 2,232

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Federal:
Current									$ 6,107	$ 2,065	$ 878
Deferred									646	(839)	(1,436)
Federal income tax provision (benefit)									6,753	1,226	(558)
State and local:
Current									842	281	296
Deferred									1,733	(353)	(3,002)
State and local income tax provision (benefit)									2,575	(72)	(2,706)
Changes in valuation allowance									(1,119)	228	2,340
Provision (benefit) for income taxes	$ 4,245	$ 1,318	$ 1,914	$ 732	$ 484	$ 1,147	$ (40)	$ (209)	$ 8,209	$ 1,382	$ (924)

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Federal income tax rate	21.00%	21.00%	21.00%
Decreased and increased in valuation allowance	$ 1,119,000	$ (228,000)	$ (2,340,000)
Net operating loss to offset income limited		80.00%
Net operating loss generated		$ 0	0	$ 0
Operating Loss Carry back		0	0	$ 0
New Jersey Division of Taxation
Income Taxes [Line Items]
Net operating loss carryforwards	0
pre-2015 carryforwards [Member] \| New york State [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	528,000
pre-2015 carryforwards [Member] \| New York State
Income Taxes [Line Items]
Net operating loss carryforwards	1,300,000
post-2015 carryforwards [Member] \| New york State [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	14,300,000
post-2015 carryforwards [Member] \| New York State
Income Taxes [Line Items]
Net operating loss carryforwards	9,100,000
CARES ACT [Member]
Income Taxes [Line Items]
Net operating loss carryforwards		0
NEW YORK
Income Taxes [Line Items]
Decreased and increased in valuation allowance	1,100,000	228,000	$ 2,300,000
Unrecognized tax benefits	$ 0	$ 0

Income Taxes - Reconciliation of Differences Between Federal Income Tax Rate and Total Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation [Abstract]
Income tax, at federal rate									$ 7,195	$ 1,099	$ (1,270)
State and local tax, net of federal taxes									2,034	(57)	(2,128)
Valuation allowance, net of the federal benefit									(1,119)	228	2,340
Other									99	112	134
Provision (benefit) for income taxes	$ 4,245	$ 1,318	$ 1,914	$ 732	$ 484	$ 1,147	$ (40)	$ (209)	$ 8,209	$ 1,382	$ (924)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Income Taxes - Significant Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Allowance for losses on loans	$ 5,254	$ 4,846
Deferred loan fees	214
Interest on nonaccrual loans	102	792
Unrealized loss on available-for-sale securities	399
Amortization of intangible assets	50	70
Deferred rent payable	152	120
Depreciation of premises and equipment		79
Net operating losses	3,280	3,990
Charitable contribution carryforward	366	1,366
Compensation and benefits	456	326
Other	264	78
Total gross deferred tax assets	10,537	11,667
Deferred tax liabilities:
Depreciation of premises and equipment	1,301
Deferred loan fees		475
Unrealized loss on available-for-sale securities		25
Other	63	39
Total gross deferred tax liabilities	1,364	539
Valuation allowance	5,353	6,472
Net deferred tax assets	$ 3,820	$ 4,656

Income Taxes - Schedule of Deferred Tax Expense (Benefit) Allocated Between Operations and Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Income Tax Expense Benefit Continuing Operations [Abstract]
Equity	$ (424)	$ 32	$ 2,186
Operations	1,260	(964)	(2,099)
Deferred tax expense (benefit) from operations and equity	$ 836	$ (932)	$ 87

Compensation and Benefit Plans - Additional Information (Detail)					12 Months Ended
	Jan. 01, 2021	Dec. 14, 2020 shares	Jun. 01, 2020 shares	Nov. 13, 2019 shares	Dec. 31, 2021 USD ($) Executive $ / shares shares	Dec. 31, 2020 USD ($) Executive $ / shares shares	Dec. 31, 2019 USD ($) Executive $ / shares shares	Mar. 25, 2019 shares
Compensation And Benefit Plans Disclosure [Line Items]
Expenses recognized \| $					$ 375,000	$ 580,000	$ 331,000
Maximum employer matching contribution percentage					4.00%
Employer matching contribution percentage	3.00%				3.00%
ESOP related compensation expense including equalization expense \| $					$ 1,400,000	$ 538,000	$ 766,000
Increased additional shares committed-to-be-released					48,250
Number of option grants						40,000
Total remaining unrecognized compensation cost \| $					$ 2,900,000
Weighted average period expected to be recognized					72 months
Weighted-average exercise price for options \| $ / shares					$ 12.02	$ 12.02	$ 12.78
Weighted average remaining contractual life					6 years 9 months 18 days
Weighted average period expected to be recognized					3 years 8 months 12 days
Number of shares exercisable					94,904	55,938
Stock repurchase program, number of shares repurchase					1,670,619
Stock repurchase program, weighted average price per share \| $ / shares					$ 13.22
Stock repurchase program, number of shares repurchase					1,037,041
Shares withheld for tax withholding obligation					353
Banc of America Strategic Investments Corporation
Compensation And Benefit Plans Disclosure [Line Items]
Treasury Stock Shares Sold					348,739
Common Stock
Compensation And Benefit Plans Disclosure [Line Items]
Stock repurchase program, expire date		May 04, 2021	Nov. 30, 2020	Mar. 27, 2020			Sep. 24, 2019
Stock repurchase program, percentage of shares repurchase		5.00%	5.00%	5.00%				5.00%
Stock repurchase program, number of shares repurchase						421,990	1,102,029
Treasury stock, Shares					201,786
Common Stock \| Maximum
Compensation And Benefit Plans Disclosure [Line Items]
Stock repurchase program, number of shares repurchase		852,302	864,987	878,835				923,151
Executive Officers
Compensation And Benefit Plans Disclosure [Line Items]
Vesting percentage					20.00%
Non-Executive Officers
Compensation And Benefit Plans Disclosure [Line Items]
Vesting percentage					20.00%
Non-Executive Officers Not Director
Compensation And Benefit Plans Disclosure [Line Items]
Vesting percentage					20.00%
Restricted Stock Units
Compensation And Benefit Plans Disclosure [Line Items]
Number of stock grants						15,000
Compensation expense \| $					$ 1,300,000	$ 1,300,000	$ 1,200,000
Total remaining unrecognized compensation cost \| $					$ 353,000
Weighted average period expected to be recognized					72 months
Stock Options
Compensation And Benefit Plans Disclosure [Line Items]
Compensation expense \| $					$ 132,000	$ 127,000	101,000
Weighted average period expected to be recognized					6 years 6 months	6 years 6 months
2018 Long-Term Incentive Plan
Compensation And Benefit Plans Disclosure [Line Items]
Equity incentive plans, maximum number of shares issuable					1,248,469
Common stock reserved for future issuance					1,248,469
Conversion of issuable stock options to issuable restricted stock ratio					3.0
Number of issuable stock options converted into restricted stock units					462,522
Number of restricted stock units converted from issuable stock options					154,174
Number of grants					674,645
Conversion of issuable stock options to issuable restricted stock					63,159	63,159
2018 Long-Term Incentive Plan \| Directors
Compensation And Benefit Plans Disclosure [Line Items]
Vesting percentage					20.00%
Vesting period					10 years
2018 Long-Term Incentive Plan \| Executive Officers
Compensation And Benefit Plans Disclosure [Line Items]
Vesting percentage					20.00%
2018 Long-Term Incentive Plan \| Stock Options or Stock Appreciation Rights
Compensation And Benefit Plans Disclosure [Line Items]
Common stock reserved for future issuance					891,764
Shares available for future awards					189,476	189,476
2018 Long-Term Incentive Plan \| Restricted Stock Units
Compensation And Benefit Plans Disclosure [Line Items]
Common stock reserved for future issuance					356,705
Shares available for future awards					0	0
2018 Long-Term Incentive Plan \| Restricted Stock Units \| Directors
Compensation And Benefit Plans Disclosure [Line Items]
Treasury stock, Shares					285,192
2018 Long-Term Incentive Plan \| Restricted Stock Units \| Executive Officers
Compensation And Benefit Plans Disclosure [Line Items]
Number of stock grants					322,254
2018 Long-Term Incentive Plan \| Restricted Stock Units \| Outside Directors
Compensation And Benefit Plans Disclosure [Line Items]
Number of stock grants					148,625
2018 Long-Term Incentive Plan \| Restricted Stock Units \| Non-Executive Officers
Compensation And Benefit Plans Disclosure [Line Items]
Number of stock grants					40,000
2018 Long-Term Incentive Plan \| Restricted Stock Units \| Non-Executive Officers \| December 31, 2020
Compensation And Benefit Plans Disclosure [Line Items]
Number of stock grants					15,000
2018 Long-Term Incentive Plan \| Incentive Options \| Executive Officers
Compensation And Benefit Plans Disclosure [Line Items]
Number of option grants					119,176
2018 Long-Term Incentive Plan \| Incentive Options \| Non-Executive Officers \| December 31, 2020
Compensation And Benefit Plans Disclosure [Line Items]
Number of stock grants					40,000
2018 Long-Term Incentive Plan \| Non-qualified Options \| Outside Directors
Compensation And Benefit Plans Disclosure [Line Items]
Number of option grants					44,590
2020 Long-Term Incentive Plan
Compensation And Benefit Plans Disclosure [Line Items]
Number of issuable stock options converted into restricted stock units					45,000
Number of restricted stock units converted from issuable stock options					15,000
Supplemental Executive Retirement Plan
Compensation And Benefit Plans Disclosure [Line Items]
Expense recognized \| $					$ 261,000	$ 59,000	$ 62,000
Number of key executive under retirement plan \| Executive					2	1	1
Employee Stock Ownership Plan
Compensation And Benefit Plans Disclosure [Line Items]
ESOP borrowed amount \| $					$ 7,200,000
Number of ESOP shares purchased					723,751
ESOP shares purchased expressed as percentage of common stock issued in stock offering					3.92%
Expected period of loan repaid					15 years
Additional Committed-to-be-released Shares
Compensation And Benefit Plans Disclosure [Line Items]
ESOP related compensation expense including equalization expense \| $					$ 700,000

Compensation and Benefit Plans - Summary of ESOP Shares (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares committed-to-be-released	96,500	48,250
Shares allocated to participants	170,145	129,270
Unallocated shares	434,251	530,751
Total	700,896	708,271
Fair value of unallocated shares	$ 6,297	$ 5,578

Compensation and Benefit Plans - Summary of ESOP Shares (Parenthetical) (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Increased additional shares committed-to-be-released	48,250
Shares committed-to-be-released	96,500	48,250

Compensation and Benefit Plans - Schedule of Restricted Stock Units Activity and Related Information (Detail) - Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Non-vested, beginning of year	335,919	420,744
Number of Shares, Granted		15,000
Number of Shares, Vested	(98,232)	(96,825)
Number of Shares, Forfeited		(3,000)
Number of Shares, Non-vested, ending of year	237,687	335,919
Weighted-Average Grant Date Fair Value Per Share, Non-vested, beginning of year	$ 12.66	$ 12.78
Weighted-Average Grant Date Fair Value Per Share, Granted		10.05
Weighted-Average Grant Date Fair Value Per Share, Vested	12.69	12.77
Weighted-Average Grant Date Fair Value Per Share, Forfeited		12.77
Weighted-Average Grant Date Fair Value Per Share, Non-vested, ending of year	$ 12.65	$ 12.66

Compensation and Benefit Plans - Schedule of Stock Option Activity and Related Information (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options, Outstanding, beginning of year	203,766	163,766
Options, Granted		40,000
Options, Outstanding, end of year	203,766	203,766
Options, Exercisable, end of year	94,904	55,938
Weighted-Average Exercise Price Per Share, Outstanding, beginning of year	$ 12.02	$ 12.78
Weighted-Average Exercise Price Per Share, Granted		8.93
Weighted-Average Exercise Price Per Share, Outstanding, end of year	12.02	12.02
Weighted-Average Exercise Price Per Share, Exercisable, end of year	$ 12.45	$ 12.77

Compensation and Benefit Plans - Schedule of Stock Option Activity and Related Information (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Average Intrinsic Value, Outstanding, end of year	$ 505,000	$ 0
Average Intrinsic Value, Exercisable, end of year	$ 195,000	$ 0

Compensation and Benefit Plans - Schedule of Fair Value of Option Grant Using Black-Scholes Option Pricing Model With Weighted Average Assumptions (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life	3 years 8 months 12 days
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected life	6 years 6 months	6 years 6 months
Expected volatility	38.51%	38.51%
Risk-free interest rate	0.48%	0.48%
Weighted average grant date fair value	$ 3.77	$ 3.77

Earnings Per Common Shares - Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ 14,979	$ 2,052	$ 5,932	$ 2,452	$ 1,628	$ 4,009	$ (571)	$ (1,213)	$ 25,415	$ 3,853	$ (5,125)
Common shares outstanding for basic EPS:
Weighted average common shares outstanding									17,256,837	17,233,901	18,039,640
Less: Weighted average unallocated Employee Stock Ownership Plan (ESOP) shares									512,276	560,708	607,322
Basic weighted average common shares outstanding	16,864,929	16,823,731	16,737,037	16,548,196	16,558,576	16,612,205	16,723,449	16,800,538	16,744,561	16,673,193	17,432,318
Basic earnings (loss) per common share	$ 0.90	$ 0.12	$ 0.35	$ 0.15	$ 0.10	$ 0.24	$ (0.03)	$ (0.07)	$ 1.52	$ 0.23	$ (0.29)
Dilutive potential common shares:
Add: Dilutive effect of share-based compensation									46,882	9,391
Diluted weighted average common shares outstanding	16,924,785	16,914,833	16,773,606	16,548,196	16,558,576	16,612,205	16,723,449	16,800,538	16,791,443	16,682,584	17,432,318
Diluted earnings (loss) per common share	$ 0.89	$ 0.12	$ 0.35	$ 0.15	$ 0.10	$ 0.24	$ (0.03)	$ (0.07)	$ 1.51	$ 0.23	$ (0.29)

Commitments, Contingencies and Credit Risk - Financial Instruments Whose Contractual Amounts Represent Credit Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	$ 220,513	$ 151,259
Commitments to Grant Mortgage Loans
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	127,159	101,722
Commitments to Sell Loans at Lock-In Rates
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	13,321	11,276
Unfunded Commitments Under Lines of Credit
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	$ 80,033	$ 38,261

Commitments, Contingencies and Credit Risk - Additional Information (Details) $ in Thousands						12 Months Ended
	Dec. 16, 2021 USD ($)	Nov. 12, 2021 USD ($)	Nov. 10, 2021 USD ($)	Jun. 04, 2021 USD ($)	Feb. 11, 2021 USD ($)	Dec. 31, 2021 USD ($) Investor State	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Repurchase or indemnification requests for loans sold						$ 0
Lease expiration year						2038
Rental expenses under operating leases						$ 2,300	$ 1,500	$ 1,500
Ponce Bank Mutual Holding Company
Loss Contingencies [Line Items]
Sale price for real property	$ 11,800	$ 4,000	$ 16,100	$ 5,700	$ 2,400
Lease agreement term	17 years	15 years	17 years	15 years	15 years
Lease base annual rent	$ 530,000	$ 200,000	$ 926,000	$ 281,000	$ 145,000
Lease base rent annually increasing rate	2.00%	1.50%	1.75%	1.75%	1.50%
Gain on sale and leaseback transaction	$ 3,100	$ 3,700	$ 8,700	$ 4,200	$ 623,000
Sale leaseback transaction, lease terms					Under the lease agreement, the Bank has four (4) consecutive options to extend the term of the lease by five (5) years for each such option.
Mortgage World Bankers Inc
Loss Contingencies [Line Items]
Total loan volume insured						6.00%
Total loan volume sold						65.10%
Number of investors loan volume sold \| Investor						3
Number of states in which loan closed \| State						5
Total closed loan volume						99.10%
Number of states in which loan closed \| State						2

Commitments, Contingencies and Credit Risk - Projected Minimum Rental Payments under Terms of Leases (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Operating Leases Future Minimum Payments Due [Abstract]
2022	$ 3,591
2023	3,600
2024	3,643
2025	3,600
2026	3,422
Thereafter	32,112
Projected minimum rental payments	$ 49,968

Fair Value - Additional Information (Details) - USD ($)	12 Months Ended
Fair Value - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Mortgage loans held for sale, at fair value	$ 15,800,000
Aggregate unpaid principal balance	$ 15,500,000
Significant purchase commitment description	Mortgage World enters into rate lock commitments to extend credit to borrowers for generally up to a 60 day period for origination and/or purchase of loans. To the extent that a loan is ultimately granted and the borrower ultimately accepts the terms of the loan, these loan commitments expose Mortgage World to variability in its fair value due to changes in interest rates.
Derivative, notional amount	$ 13,300,000	$ 11,300,000
Derivatives from interest rate lock commitments	172,000	166,000
Loan commitments interest rate on the current market rate.	$ 0	$ 0

Fair Value - Summary of Changes in Derivatives From Interest Rate Lock Commitments are Measured at Fair Value (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Abstract]
Beginning Balance	$ 166
Change in fair value of derivative instrument reported in earnings	6
Ending Balance	$ 172

Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Details) - Impaired Loans - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value on nonrecurring basis	$ 17,651	$ 19,352
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value on nonrecurring basis	$ 17,651	$ 19,352

Fair Value - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Available-for-sale securities, at fair value (Note 4)	$ 113,346	$ 17,498
Held-to-maturity securities, at amortized cost	934	1,743
Mortgage loans held for sale, at fair value	15,800
Warehouse lines of credit (Note 8)	15,090	29,961
Mortgage loan fundings payable (Note 8)		1,483
Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	153,894	72,078
Available-for-sale securities, at fair value (Note 4)	113,346	17,498
Held-to-maturity securities, at amortized cost	934	1,743
Placements with banks	2,490	2,739
Mortgage loans held for sale, at fair value	15,836	35,406
Loans receivable, net	1,305,078	1,158,640
Accrued interest receivable	12,362	11,396
FHLBNY stock	6,001	6,426
Demand deposits	274,956	189,855
Interest-bearing deposits	500,281	432,737
Certificates of deposit	429,479	406,987
Advance payments by borrowers for taxes and insurance	7,657	7,019
Advances from FHLBNY	106,255	117,255
Warehouse lines of credit (Note 8)	15,090	29,961
Mortgage loan fundings payable (Note 8)		1,483
Accrued interest payable	228	60
Fair Value Measurements
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	153,894	72,078
Available-for-sale securities, at fair value (Note 4)	113,346	17,498
Held-to-maturity securities, at amortized cost	914	1,722
Placements with banks	2,490	2,739
Mortgage loans held for sale, at fair value	15,836	35,406
Loans receivable, net	1,306,253	1,182,971
Accrued interest receivable	12,362	11,396
FHLBNY stock	6,001	6,426
Demand deposits	274,956	189,855
Interest-bearing deposits	500,281	432,737
Certificates of deposit	431,339	411,742
Advance payments by borrowers for taxes and insurance	7,657	7,019
Advances from FHLBNY	106,680	119,248
Warehouse lines of credit (Note 8)	15,090	29,961
Mortgage loan fundings payable (Note 8)		1,483
Accrued interest payable	228	60
Fair Value Measurements \| Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	153,894	72,078
FHLBNY stock	6,001	6,426
Demand deposits	274,956	189,855
Interest-bearing deposits	500,281	432,737
Fair Value Measurements \| Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Available-for-sale securities, at fair value (Note 4)	108,417	17,498
Held-to-maturity securities, at amortized cost	914	1,722
Placements with banks	2,490	2,739
Mortgage loans held for sale, at fair value	15,836	35,406
Accrued interest receivable	12,362	11,396
Certificates of deposit	431,339	411,742
Advance payments by borrowers for taxes and insurance	7,657	7,019
Advances from FHLBNY	106,680	119,248
Warehouse lines of credit (Note 8)	15,090	29,961
Mortgage loan fundings payable (Note 8)		1,483
Accrued interest payable	228	60
Fair Value Measurements \| Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Available-for-sale securities, at fair value (Note 4)	4,929
Loans receivable, net	$ 1,306,253	$ 1,182,971

Regulatory Capital Requirements - Additional Information (Details)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Regulatory Capital Requirements [Abstract]
Percentage of capital buffer	9.23%	7.95%	2.50%

Regulatory Capital Requirements - Summary of Actual Capital Amounts and Ratios As Compared to Regulatory Requirements (Details)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 184,689	$ 153,951
Tier 1 Capital to Risk-Weighted Assets, Actual Amount	171,253	141,850
Common Equity Tier 1 Capital Ratio, Actual Amount	171,253	141,850
Tier 1 Capital to Total Assets, Actual Amount	$ 171,253	$ 141,850
Total Capital to Risk-Weighted Assets, Actual Ratio	0.1723	0.1595
Tier 1 Capital to Risk-Weighted Assets, Actual Ratio	0.1598	0.1470
Common Equity Tier 1 Capital Ratio, Actual Ratio	0.1598	0.1470
Tier 1 Capital to Total Assets, Actual Ratio	0.1091	0.1119
Total Capital to Risk-Weighted Assets, For Capital Adequacy Amount	$ 85,735	$ 77,213
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Amount	64,301	57,909
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Amount	48,226	43,432
Tier 1 Capital to Total Assets, For Capital Adequacy Amount	$ 62,784	$ 50,715
Total Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.0800	0.0800
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.0600	0.0600
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio	0.0450	0.0450
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio	0.0400	0.0400
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 107,168	$ 96,516
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	85,735	77,213
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	69,659	62,735
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 78,481	$ 63,394
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.1000	0.1000
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.0800	0.0800
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.0650	0.0650
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.0500	0.0500

Regulatory Capital Requirements - Summary of Minimum Capital Requirements (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 184,689	$ 153,951
Mortgage World Bankers Inc \| HUD
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	1,000,000
Mortgage World Bankers Inc \| New York Department of Financial Services
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	250,000
Mortgage World Bankers Inc \| Other State Banking Departments
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 250,000

Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income (loss), net of tax	$ (1,591)	$ 115
Unrealized gains (losses) on available-for-sale securities, net
Accumulated Other Comprehensive Income Loss [Line Items]
Accumulated other comprehensive income (loss) beginning balance	135	20
Other comprehensive income (loss), net of tax	(1,591)	115
Accumulated other comprehensive income (loss) ending balance	(1,456)	135
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Accumulated other comprehensive income (loss) beginning balance	135	20
Accumulated other comprehensive income (loss) ending balance	$ (1,456)	$ 135

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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