0001437749-21-004119 | 10-K | XBRL Viewer

Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	*For the years ended December 31,*
	*2020*		*2019*
Current expense	$	2,460	$	1,863
Deferred expense		1,137		2,362
Total income tax expense	$	3,597	$	4,225

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*For the years ended December 31,*
	*2020*			*2019*
Expense computed at the statutory federal tax rate	$	2,680		$	3,339
State and local taxes, net of federal income tax effect		720			892
Other, net		(3	)		(6	)
Valuation allowance for deferred tax assets		200			—
	$	3,597		$	4,225
Effective income tax rate		28.18	%		26.57	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	*December 31,*
	*2020*			*2019*
Gross deferred tax assets
Allowance for loan losses	$	2,075		$	2,043
Alternative minimum tax and net operating loss carryforwards		3,999			4,452
Lease liability		1,358			1,565
Tax deductible goodwill and core deposit intangible		63			314
Other		505			741
		8,000			9,115
Gross deferred tax liabilities
Net deferred loan origination costs		(873	)		(1,013	)
Purchase accounting adjustments		(1,570	)		(1,623	)
Right of use asset		(1,358	)		(1,565	)
Other		(1,180	)		(958	)
Unrealized gain on securities		(78	)		(83	)
		(5,059	)		(5,242	)
Valuation allowance		(200	)		—
	$	2,741		$	3,873

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	*December 31,*
	*2020*			*2019*
Beginning of year	$	244		$	198
Additions based on tax positions related to the current year		61			62
Additions for tax positions of prior years		2			—
Reductions due to the statute of limitations and reductions for tax positions of prior years		(30	)		(16	)
End of year	$	277		$	244

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from other financial institutions	$ 14,115	$ 9,785
Interest-bearing deposits in other financial institutions	489,381	180,540
Cash and cash equivalents	503,496	190,325
Securities, at fair value	23,829	60,193
Loans receivable, net of allowance for loan losses: December 31, 2020, $7,751 and December 31, 2019, $7,632	1,002,578	1,168,008
Other real estate owned, net	157	186
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost	7,490	7,490
Premises and equipment, net	24,675	24,346
Accrued interest receivable	3,941	4,563
Bank-owned life insurance	19,015	18,945
Deferred taxes	2,741	3,873
Other assets	8,920	10,086
Total assets	1,596,842	1,488,015
Liabilities
Noninterest-bearing	326,188	210,762
Interest-bearing	1,067,356	1,073,995
Total deposits	1,393,544	1,284,757
Borrowings	4,000	61
Advance payments by borrowers for taxes and insurance	8,670	10,222
Accrued interest payable and other liabilities	17,698	18,603
Total liabilities	1,423,912	1,313,643
Commitments and contingent liabilities
Stockholders’ equity
Preferred Stock, $0.01 par value, 25,000,000 shares authorized, none issued or outstanding	0	0
Common Stock, $0.01 par value, 100,000,000 shares authorized; 14,769,765 shares issued at December 31, 2020 and 15,278,464 shares issued at December 31, 2019	148	153
Additional paid-in capital	107,815	112,420
Retained earnings	64,754	61,573
Accumulated other comprehensive income	213	226
Total stockholders’ equity	172,930	174,372
Total liabilities and stockholders’ equity	$ 1,596,842	$ 1,488,015

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net income	$ 9,163	$ 11,672
Unrealized holding loss on securities arising during the period	(18)	(62)
Tax effect	5	17
Comprehensive loss, net of tax	(13)	(45)
Comprehensive income	$ 9,150	$ 11,627

- Definition

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

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Note 4 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans receivable	$ 1,009,958	$ 1,174,728
Net deferred loan origination costs	(371)	(912)
Allowance for loan losses	(7,751)	(7,632)	$ (8,470)
Loans, net	1,002,578	1,168,008
Commercial Portfolio Segment [Member]
Loans receivable	405,057	418,343
Allowance for loan losses	(1,536)	(2,065)	(2,272)
Consumer Portfolio Segment [Member]
Loans receivable	1,812	2,211
Allowance for loan losses	(54)	(40)	(28)
One-to-Four Family Residential Real Estate [Member] \| Real Estate Portfolio [Member]
Loans receivable	41,691	55,750
Allowance for loan losses	(518)	(675)	(699)
Multi-family Mortgage [Member] \| Real Estate Portfolio [Member]
Loans receivable	452,241	563,750
Allowance for loan losses	(4,062)	(3,676)	(3,991)
Nonresidential Real Estate [Member] \| Real Estate Portfolio [Member]
Loans receivable	108,658	134,674
Allowance for loan losses	(1,569)	(1,176)	(1,476)
Construction and Land Loans [Member]
Loans receivable	499	0
Allowance for loan losses	$ (12)	$ 0	$ (4)

Note 8 - Deposits - Scheduled Maturities of Certificates of Deposits (Details) $ in Thousands	Dec. 31, 2020 USD ($)
2021	$ 188,040
2022	54,384
2023	8,160
2024	2,238
2025	178
Time Deposits, Total	$ 253,000

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Cash flows from operating activities

Net income

$ 9,163

$ 11,672

Adjustments to reconcile to net income to net cash from operating activities

Provision for loan losses

3,825

Depreciation

1,673

1,613

Amortization of premiums and discounts on securities

Amortization of intangibles

Amortization of servicing assets

Net change in net deferred loan origination costs

541

157

Gain on sale of other real estate owned

(22)

(111)

Gain on sale of equity securities

(295)

Loss on disposal of other assets

Other real estate owned valuation adjustments

Earnings on bank-owned life insurance

^[1]

(70)

(136)

Net change in:

Deferred income tax

1,137

2,362

Accrued interest receivable

622

389

Other assets

1,300

3,864

Accrued interest payable and other liabilities

(1,005)

(2,202)

Net cash from operating activities

13,517

21,374

Cash flows from investing activities

Proceeds from maturities

77,762

107,921

Proceeds from principal repayments

2,691

3,076

Proceeds from sale of equity securities

3,722

Purchases of securities

(44,113)

(83,081)

Net decrease in loans receivable

164,666

151,501

Redemption of FHLB and FRB stock

540

Purchase of FHLB and FRB stock

(4)

Proceeds from sale of other real estate owned

120

1,299

Other real estate owned capitalized expenditures

(47)

Purchase of premises and equipment, net

(2,007)

(798)

Net cash from investing activities

199,072

184,176

Cash flows from financing activities

Deposits

108,787

(67,727)

Borrowings

3,939

(20,988)

Advance payments by borrowers for taxes and insurance

(1,552)

(309)

Repurchase and retirement of common stock

(4,610)

(18,139)

Cash dividends paid on common stock

(5,982)

(6,266)

Net cash from (used in) financing activities

100,582

(113,429)

Net change in cash and cash equivalents

313,171

92,121

Beginning cash and cash equivalents

190,325

98,204

Ending cash and cash equivalents

503,496

190,325

Supplemental disclosures of cash flow information:

Interest paid

7,035

13,446

Income taxes paid

191

349

Income taxes refunded

Loans transferred to other real estate owned

186

Recording of right of use asset in exchange for lease obligations in other assets and other liabilities

$ 111

$ 6,694

[1]	Not within the scope of ASC 606

Note 7 - Leases (Details Textual) - USD ($)	12 Months Ended
Note 7 - Leases (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Operating Lease, Right-of-Use Asset, Amortization Expense	$ 882,000	$ 848,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	8 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	3.13%

Note 10 - Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Current expense									$ 2,460	$ 1,863
Deferred expense									1,137	2,362
Total income tax expense	$ 1,189	$ 713	$ 845	$ 850	$ 1,234	$ 1,417	$ 293	$ 1,281	$ 3,597	$ 4,225

- Definition

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

+ References + Details

Note 3 - Securities - Sales of Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Proceeds	$ 0	$ 3,722
Gross gains	0	295
Gross losses	$ 0	$ 0

Note 7 - Leases

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

NOTE 7 - LEASES

The following table represents the classification of the Company's right of use and lease liabilities:

	Statement of Financial Condition Location	*December 31, 2020*			*December 31, 2019*
Operating Lease Right of Use Asset:
Gross carrying amount		$	6,694		$	—
New lease obligation			111			6,694
Accumulated amortization			(1,730	)		(848	)
Net recorded value	Other assets	$	5,075		$	5,846

Operating Lease Liabilities:
Right of use lease obligations	Other liabilities	$	5,075		$	5,846

Amortization expense was $882,000 and $848,000 for the years ended December 31, 2020 and 2019, respectively. At December 31, 2020, the weighted-average remaining lease term for the operating leases was 8.2 years and the weighted-average discount rate used in the measurement of operating lease liabilities was 3.13%. The Company utilized the FHLB fixed rate advance rate for the term most closely aligning with the remaining lease term at inception.

	For the year ended December 31, 2020			For the year ended December 31, 2019
Lease cost:
Operating lease cost	$	882		$	848
Short-term lease cost		152			112
Sublease income		(74	)		(51	)
Total lease cost	$	960		$	909

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	948		$	901

Future minimum payments under non-cancellable operating leases with terms longer than 12 months, are as follows at December 31, 2020. Future minimum payments on shorter term leases are excluded as the amounts are insignificant.

Twelve months ended December 31,
2021	$	962
2022		1,002
2023		956
2024		501
2025		507
Thereafter		2,217
Total future minimum operating lease payments		6,145
Amounts representing interest		(1,070	)
Present value of net future minimum operating lease payments	$	5,075

Note 6 - Premises and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Depreciation, Total	$ 1,673	$ 1,613

Note 13 - Loan Commitments and Other Off-balance-sheet Activities (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Commitments To Extend Credit, Duration Of Extension (Day)	60 days
Commitments to Extend Credit [Member]
Notional Or Contractual Credit, Extension Commitments, Fixed Interest Rate Loan	$ 23.1
Commitments to Extend Credit [Member] \| Minimum [Member]
Notional Or Contractual Credit Extension Commitments, Fixed Interest Rate	2.65%
Notional Or Contractual Credit Extension Commitments, Loan Maturity (Year)	1 year
Commitments to Extend Credit [Member] \| Maximum [Member]
Notional Or Contractual Credit Extension Commitments, Fixed Interest Rate	9.83%
Notional Or Contractual Credit Extension Commitments, Loan Maturity (Year)	30 years

Note 14 - Fair Value - Quantitative Information for Financial Instruments on Non-recurring Basis (Details) - Real Estate Portfolio [Member] - Nonresidential Real Estate [Member] - Fair Value, Nonrecurring [Member] $ in Thousands	Dec. 31, 2020 USD ($)
Impaired loans, fair value	$ 268
Fair Value, Inputs, Level 3 [Member]
Impaired loans, fair value	$ 268
Fair Value, Inputs, Level 3 [Member] \| Valuation, Market Approach [Member] \| Measurement Input, Discount Rate [Member]
Imapired loans, measurement input	0.220

Note 10 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Beginning of year	$ 244	$ 198
Additions based on tax positions related to the current year	61	62
Additions for tax positions of prior years	2	0
Reductions due to the statute of limitations and reductions for tax positions of prior years	(30)	(16)
End of year	$ 277	$ 244

Note 4 - Loans Receivable - Allowance for Loan Losses and Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for loan losses, individually evaluated for impairment	$ 28	$ 0
Allowance for loan losses, collectively evaluated for impairment	7,723	7,632
Allowance for loan losses	7,751	7,632	$ 8,470
Loan balances, individually evaluated for impairment	2,534	2,743
Loan balances, collectively evaluated for impairment	1,007,424	1,171,985
Loans receivable	1,009,958	1,174,728
Net deferred loan origination costs	371	912
Allowance for loan losses	(7,751)	(7,632)	(8,470)
Loans receivable, net of allowance for loan losses: December 31, 2020, $7,751 and December 31, 2019, $7,632	1,002,578	1,168,008
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment	0	0
Allowance for loan losses, collectively evaluated for impairment	518	675
Allowance for loan losses	518	675	699
Loan balances, individually evaluated for impairment	1,718	1,835
Loan balances, collectively evaluated for impairment	39,973	53,915
Loans receivable	41,691	55,750
Allowance for loan losses	(518)	(675)	(699)
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member]
Allowance for loan losses, individually evaluated for impairment	0	0
Allowance for loan losses, collectively evaluated for impairment	4,062	3,676
Allowance for loan losses	4,062	3,676	3,991
Loan balances, individually evaluated for impairment	520	620
Loan balances, collectively evaluated for impairment	451,721	563,130
Loans receivable	452,241	563,750
Allowance for loan losses	(4,062)	(3,676)	(3,991)
Real Estate Portfolio [Member] \| Nonresidential Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment	28	0
Allowance for loan losses, collectively evaluated for impairment	1,541	1,176
Allowance for loan losses	1,569	1,176	1,476
Loan balances, individually evaluated for impairment	296	288
Loan balances, collectively evaluated for impairment	108,362	134,386
Loans receivable	108,658	134,674
Allowance for loan losses	(1,569)	(1,176)	(1,476)
Construction and Land Loans [Member]
Allowance for loan losses, individually evaluated for impairment	0
Allowance for loan losses, collectively evaluated for impairment	12
Allowance for loan losses	12
Loan balances, individually evaluated for impairment	0
Loan balances, collectively evaluated for impairment	499
Loans receivable	499
Allowance for loan losses	(12)
Commercial Portfolio Segment [Member]
Allowance for loan losses, individually evaluated for impairment	0	0
Allowance for loan losses, collectively evaluated for impairment	1,536	2,065
Allowance for loan losses	1,536	2,065	2,272
Loan balances, individually evaluated for impairment	0	0
Loan balances, collectively evaluated for impairment	405,057	418,343
Loans receivable	405,057	418,343
Allowance for loan losses	(1,536)	(2,065)	(2,272)
Consumer Portfolio Segment [Member]
Allowance for loan losses, individually evaluated for impairment	0	0
Allowance for loan losses, collectively evaluated for impairment	54	40
Allowance for loan losses	54	40	28
Loan balances, individually evaluated for impairment	0	0
Loan balances, collectively evaluated for impairment	1,812	2,211
Loans receivable	1,812	2,211
Allowance for loan losses	$ (54)	$ (40)	$ (28)

Note 7 - Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating lease cost	$ 882	$ 848
Short-term lease cost	152	112
Sublease income	(74)	(51)
Total lease cost	960	909
Operating cash flows from operating leases	$ 948	$ 901

Note 16 - Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 16 – COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of BankFinancial Corporation as of December 31, 2020 and 2019 and for the two years then ended are as follows:

Condensed Statements of Financial Condition

	*December 31,*
	*2020*		*2019*
Assets
Cash in subsidiary	$	10,996	$	6,864
Investment in subsidiary		161,678		164,847
Deferred tax asset		393		558
Other assets		658		2,115
	$	173,725	$	174,384
Liabilities and Stockholders' Equity
Accrued expenses and other liabilities	$	795	$	12
Total stockholders’ equity		172,930		174,372
	$	173,725	$	174,384

Condensed Statements of Operations

	*For the years ended December 31,*
	*2020*			*2019*
Dividends from subsidiary	$	13,713		$	21,200
Other expense		1,625			1,600
Income before income tax and undistributed subsidiary excess distributions		12,088			19,600
Income tax benefit		(231	)		(433	)
Income before equity in undistributed subsidiary excess distributions		12,319			20,033
Equity in undistributed subsidiary excess distributions		(3,156	)		(8,361	)
Net income	$	9,163		$	11,672

Condensed Statements of Cash Flows

	*For the years ended December 31,*
	*2020*			*2019*
Cash flows from operating activities
Net income	$	9,163		$	11,672
Adjustments:
Equity in undistributed subsidiary excess distributions		3,156			8,361
Change in other assets		1,622			2,643
Change in accrued expenses and other liabilities		783			(2,634	)
Net cash from operating activities		14,724			20,042
Cash flows from financing activities
Repurchase and retirement of common stock		(4,610	)		(18,139	)
Cash dividends paid on common stock		(5,982	)		(6,266	)
Net cash used in financing activities		(10,592	)		(24,405	)
Net change in cash in subsidiary		4,132			(4,363	)
Beginning cash in subsidiary		6,864			11,227
Ending cash in subsidiary	$	10,996		$	6,864

Note 2 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Net income available to common stockholders	$ 2,445	$ 1,948	$ 2,352	$ 2,418	$ 3,390	$ 3,924	$ 807	$ 3,551	$ 9,163	$ 11,672
Basic and diluted weighted average common shares outstanding (in shares)									14,951,656	15,594,883
Basic and diluted earnings per common share (in dollars per share)	$ 0.17	$ 0.13	$ 0.16	$ 0.16	$ 0.22	$ 0.26	$ 0.05	$ 0.22	$ 0.61	$ 0.75

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Note 6 - Premises and Equipment - Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 58,043	$ 56,283
Accumulated depreciation	(33,368)	(31,937)
Property, Plant and Equipment, Net, Ending Balance	24,675	24,346
Land and Land Improvements [Member]
Property and equipment, gross	11,989	11,918
Building and Building Improvements [Member]
Property and equipment, gross	31,145	30,585
Furniture and Fixtures [Member]
Property and equipment, gross	10,111	9,454
Computer Equipment [Member]
Property and equipment, gross	$ 4,798	$ 4,326

Note 15 - Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE 15 — REVENUE FROM CONTRACTS WITH CUSTOMERS

All of the Company's revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the Company's sources of noninterest income. Items outside of the scope of the ASC 606 are noted as such.

	*For the years ended December 31,*
	*2020*			*2019*
Deposit service charges and fees	$	3,196		$	3,844
Loan servicing fees ⁽¹⁾		552			451
Mortgage brokerage and banking fees ⁽¹⁾		98			149
Gain on sale of equity securities ⁽¹⁾		—			295
Loss on disposal of other assets		(5	)		(44	)
Trust and insurance commissions and annuities income		961			844
Earnings on bank-owned life insurance ⁽¹⁾		70			136
Other ⁽¹⁾		494			497
Total noninterest income	$	5,366		$	6,172

(1)	Not within the scope of ASC 606

A description of the Company's revenue streams accounted for under ASC 606 follows:

Deposit service charges and fees: The Company earns fees from its deposit customers based on specific types of transactions, account maintenance and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer's request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer's account balance.

Interchange income: The Company earns interchange fees from debit cardholder transactions conducted through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Interchange income is included in deposit service charges and fees. Interchange income for the years ended December 31, 2020 and 2019 was $1.4 million and $1.5 million, respectively.

Trust and insurance commissions and annuities income: The Company earns trust, insurance commissions and annuities income from its contracts with trust customers to manage assets for investment, and/or to transact on their accounts. These fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management (AUM) at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed, i.e., the trade date. Other related services provided include fees the Company earns, which are based on a fixed fee schedule, are recognized when the services are rendered.

Gains/losses on sales of OREO and other assets: The Company records a gain or loss from the sale of OREO and other assets when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. OREO sales for the years ended December 31, 2020 and 2019 were not financed by the Company.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 606
-SubTopic 10
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-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Note 3 - Securities - Securities with Unrealized Losses (Details) - Collateralized Mortgage Backed Securities [Member] Pure in Thousands, $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Count, less than 12 months	0	3
Collateralized mortgage obligations - residential, fair value	$ 0	$ 1,566
Unrealized loss, less than 12 months	$ 0	$ (10)
Count, 12 months or more	3	1
Fair value, 12 months or more	$ 1,588	$ 937
Unrealized loss, 12 months or more	$ (1)	$ (3)
Count, total	3	4
Fair value, total	$ 1,588	$ 2,503
Unrealized loss, total	$ (1)	$ (13)

Note 4 - Loans Receivable - Loans Individually Evaluated for Impairment By Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Loan balance, with no allowance recorded	$ 2,589	$ 3,068
Recorded investment, with no allowance recorded	2,238	2,743
Partial charge-off, with no allowance recorded	363	339
Average investment in impaired loans, with no allowance recorded	2,376	3,434
Interest income recognized, with no related allowance recorded	73	90
Loan balance, with allowance recorded	2,869
With an allowance recorded, recorded investment	2,534
Partial charge-off, with an allowance recorded	363
Allowance for loan losses	28
Average investment in impaired loans, with an allowance recorded	2,665
Interest income recognized, with a related allowance recorded	73
Nonresidential Real Estate Loans [Member]
Loan balance, with allowance recorded	280
With an allowance recorded, recorded investment	296
Partial charge-off, with an allowance recorded	0
Allowance for loan losses	28
Average investment in impaired loans, with an allowance recorded	289
Interest income recognized, with a related allowance recorded	0
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate [Member]
Loan balance, with no allowance recorded	2,069	2,168
Recorded investment, with no allowance recorded	1,718	1,835
Partial charge-off, with no allowance recorded	363	339
Average investment in impaired loans, with no allowance recorded	1,782	2,208
Interest income recognized, with no related allowance recorded	42	51
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| ILLINOIS
Loan balance, with no allowance recorded	520
Recorded investment, with no allowance recorded	520
Partial charge-off, with no allowance recorded	0
Average investment in impaired loans, with no allowance recorded	594
Interest income recognized, with no related allowance recorded	$ 31
Real Estate Portfolio [Member] \| Nonresidential Real Estate [Member]
Loan balance, with no allowance recorded		280
Recorded investment, with no allowance recorded		288
Partial charge-off, with no allowance recorded		0
Average investment in impaired loans, with no allowance recorded		589
Interest income recognized, with no related allowance recorded		2
Commercial Portfolio Segment [Member] \| Other [Member]
Loan balance, with no allowance recorded		620
Recorded investment, with no allowance recorded		620
Partial charge-off, with no allowance recorded		0
Average investment in impaired loans, with no allowance recorded		637
Interest income recognized, with no related allowance recorded		$ 37

Note 16 - Company Only Condensed Financial Information - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Other expense	$ 9,774	$ 9,787	$ 9,249	$ 9,628	$ 9,562	$ 9,509	$ 9,472	$ 10,098	$ 38,438	$ 38,641
Income before income tax and undistributed subsidiary excess distributions	3,634	2,661	3,197	3,268	4,624	5,341	1,100	4,832	12,760	15,897
Income tax expense	$ 1,189	$ 713	$ 845	$ 850	$ 1,234	$ 1,417	$ 293	$ 1,281	3,597	4,225
Parent Company [Member]
Dividends from subsidiary									13,713	21,200
Other expense									1,625	1,600
Income before income tax and undistributed subsidiary excess distributions									12,088	19,600
Income tax expense									(231)	(433)
Income before equity in undistributed subsidiary excess distributions									12,319	20,033
Equity in undistributed subsidiary excess distributions									(3,156)	(8,361)
Net income									$ 9,163	$ 11,672

- Definition

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

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 4 - Loans Receivable - Recorded Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Loan balance	$ 1,226	$ 925
Recorded investment	1,221	800
Loans past due over 90 days, still accruing	0	47
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate [Member]
Loan balance	946	598
Recorded investment	925	512
Loans past due over 90 days, still accruing	0	0
Real Estate Portfolio [Member] \| Nonresidential Real Estate [Member]
Loan balance	280	280
Recorded investment	296	288
Loans past due over 90 days, still accruing	$ 0	0
Commercial Portfolio Segment [Member]
Loan balance		47
Recorded investment		0
Loans past due over 90 days, still accruing		$ 47

Note 3 - Securities - Fair Value of Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized cost	$ 23,538	$ 59,884
Gross unrealized gains	292	322
Gross unrealized losses	(1)	(13)
Fair value	23,829	60,193
Certificates of Deposit [Member]
Amortized cost	15,117	48,666
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	15,117	48,666
US States and Political Subdivisions Debt Securities [Member]
Amortized cost	402	505
Gross unrealized gains	7	8
Gross unrealized losses	0	0
Fair value	409	513
Residential Mortgage Backed Securities [Member]
Amortized cost	5,826	7,727
Gross unrealized gains	282	310
Gross unrealized losses	0	0
Fair value	6,108	8,037
Collateralized Mortgage Backed Securities [Member]
Amortized cost	2,193	2,986
Gross unrealized gains	3	4
Gross unrealized losses	(1)	(13)
Fair value	$ 2,195	$ 2,977

Note 5 - Other Real Estate Owned - Roll Forward of OREO (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Beginning balance	$ 186	$ 1,226
New foreclosed properties	33	186
Capitalized improvements	47	0
Valuation adjustments	0	(38)
Sales	(109)	(1,188)
Ending balance	$ 157	$ 186

Note 8 - Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Noninterest-bearing demand deposits	$ 326,188	$ 210,762
Interest-bearing NOW accounts	336,994	273,168
Money market accounts	297,801	245,610
Savings deposits	179,561	153,183
Certificates of deposit	253,000	402,034
Total deposits	$ 1,393,544	$ 1,284,757

Note 10 - Income Taxes

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE 10 – INCOME TAXES

The income tax expense is as follows:

	*For the years ended December 31,*
	*2020*		*2019*
Current expense	$	2,460	$	1,863
Deferred expense		1,137		2,362
Total income tax expense	$	3,597	$	4,225

A reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate of 21% for 2020 and 2019, to the income tax expense in the consolidated statements of operations follows:

	*For the years ended December 31,*
	*2020*			*2019*
Expense computed at the statutory federal tax rate	$	2,680		$	3,339
State and local taxes, net of federal income tax effect		720			892
Other, net		(3	)		(6	)
Valuation allowance for deferred tax assets		200			—
	$	3,597		$	4,225
Effective income tax rate		28.18	%		26.57	%

Retained earnings at December 31, 2020 and 2019 include $14.9 million for which no deferred federal income tax liability has been recorded. This amount represents an allocation of income to bad debt deductions for tax purposes alone.

The net deferred tax asset is as follows:

	*December 31,*
	*2020*			*2019*
Gross deferred tax assets
Allowance for loan losses	$	2,075		$	2,043
Alternative minimum tax and net operating loss carryforwards		3,999			4,452
Lease liability		1,358			1,565
Tax deductible goodwill and core deposit intangible		63			314
Other		505			741
		8,000			9,115
Gross deferred tax liabilities
Net deferred loan origination costs		(873	)		(1,013	)
Purchase accounting adjustments		(1,570	)		(1,623	)
Right of use asset		(1,358	)		(1,565	)
Other		(1,180	)		(958	)
Unrealized gain on securities		(78	)		(83	)
		(5,059	)		(5,242	)
Valuation allowance		(200	)		—
	$	2,741		$	3,873

As of December 31, 2020 and 2019, the Company’s net deferred tax asset (“DTA”) was $2.7 million and $3.9 million, respectively.

A DTA valuation allowance is required under ASC 740 when the realization of a DTA is assessed and the assessment indicates that it is “more likely than not” (i.e., more than 50% likely) that all or a portion of the DTA will not be realized. All available evidence, both positive and negative must be considered to determine whether, based on the weight of that evidence, a valuation allowance against the net DTA is required. Objectively verifiable evidence is assigned greater weight than evidence that is not objectively verifiable. The valuation allowance is analyzed quarterly for changes affecting the DTA.

The Company’s ability to realize the DTA is dependent upon the generation of future taxable income during the periods in which the tax attributes underlying the DTA become deductible. The amount of the DTA that will ultimately be realized will be impacted by the Company’s future taxable income, any changes to the many variables that could impact future taxable income and the then applicable corporate tax rate. As of December 31, 2020 and 2019, valuation allowances of $200,000 and zero were attributed to the Illinois net loss deduction carryforwards.

At December 31, 2020, the Company had a federal net operating loss carryforward of $7.2 million relating to its acquisition of Downers Grove National Bank, which is subject to utilization limitations under Section 382 of the Internal Revenue Code, and will begin to expire in 2030, and $225,000 of alternative minimum tax credit carryforward that does not expire and is subject to utilization limitations under Section 382 of the Internal Revenue Code. At December 31, 2020, the Company had a state net operating loss carryforward for the State of Illinois of $44.7 million, which will begin to expire in 2023 and fully expires in 2025.

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	*December 31,*
	*2020*			*2019*
Beginning of year	$	244		$	198
Additions based on tax positions related to the current year		61			62
Additions for tax positions of prior years		2			—
Reductions due to the statute of limitations and reductions for tax positions of prior years		(30	)		(16	)
End of year	$	277		$	244

The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. At December 31, 2020 and 2019, the Company has immaterial amounts accrued for potential interest and penalties.

The Company and its subsidiary are subject to U.S. federal income tax as well as income tax of the various states where the Company does business. The Company is no longer subject to examination by the federal taxing authorities for years before 2017 and the Illinois taxing authorities for years before 2017.

- Definition

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.

+ References + Details

Note 11 - Regulatory Matters - Bank's Community Leverage Ratio (Details)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Community Bank Leverage Ratio, actual amount	$ 160,236
Community Bank Leverage Ratio, actual ratio	10.10%
Community Bank Leverage Ratio, required for capital adequacy purposes amount	$ 126,964
Community Bank Leverage Ratio, required for capital adequacy purposes ratio	8.00%
Total capital (to risk-weighted assets), actual amount		$ 170,203
Total capital (to risk-weighted assets), Actual ratio		0.1638
Total capital (to risk-weighted assets), required for capital adequacy purpose amount		$ 83,130
Total capital (to risk-weighted assets), required for capital adequacy purpose ratio		0.0800
Total capital (to risk-weighted assets), to be well capitalized		$ 103,913
Total capital (to risk-weighted assets, to be well capitalized ratio		0.1000
Tier 1 (core) capital (to risk-weighted assets), actual amount		$ 162,455
Tier 1 (core) capital (to risk-weighted assets), Actual ratio		0.1563
Tier 1 (core) capital (to risk-weighted assets), required for capital adequacy purpose amount		$ 62,348
Tier 1 (core) capital (to risk-weighted assets), required for capital adequacy purpose ratio		0.0600
Tier 1 (core) capital (to risk-weighted assets), to be well capitalized		$ 83,130
Tier 1 (core) capital (to risk-weighted assets), to be well capitalized ratio		0.0800
Common Tier 1 (CET1), actual amount		$ 162,455
Common Tier 1 (CET1, Actual ratio		0.1563
Common Tier 1 (CET1), required for capital adequacy purpose amount		$ 46,761
Common Tier 1 (CET1), required for capital adequacy purpose ratio		0.0450
Common Tier 1 (CET1), to be well capitalized		$ 67,543
Common Tier 1 (CET1), to be well capitalized ratio		6.50%
Tier 1 (core) capital (to adjusted average total assets), Actual ratio		0.1089
Tier 1 (core) capital (to adjusted average total assets), required for capital adequacy purpose amount		$ 59,666
Tier 1 (core) capital (to adjusted average total assets), required for capital adequacy purpose ratio		0.0400
Tier 1 (core) capital (to adjusted average total assets), to be well capitalized		$ 74,583
Tier 1 (core) capital (to adjusted average total assets), to be well capitalized ratio		0.0500

Note 3 - Securities - Amortized Cost and Fair Value of Securities By Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Due in one year or less, amortized cost	$ 15,271
Due in one year or less, fair value	15,278
Due after one year through five years, amortized cost	248
Due after one year through five years, fair value	248
Amortized cost, single maturity date	15,519
Fair value, single maturity date	15,526
Amortized cost	23,538	$ 59,884
Fair value	23,829	60,193
Residential Mortgage Backed Securities [Member]
Amortized cost, without single maturity date	5,826
Fair value, without single maturity date	6,108
Amortized cost	5,826	7,727
Fair value	6,108	8,037
Collateralized Mortgage Backed Securities [Member]
Amortized cost, without single maturity date	2,193
Fair value, without single maturity date	2,195
Amortized cost	2,193	2,986
Fair value	$ 2,195	$ 2,977

Note 14 - Fair Value (Details Textual) Pure in Thousands	3 Months Ended								12 Months Ended
Note 14 - Fair Value (Details Textual) Pure in Thousands	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Impaired Loans, Fair Value Disclosure	$ 296,000								$ 296,000
Impaired Loans, Valuation Allowance	28,000								28,000
Number of Loans Measured for Impairment Using Fair Value of Collateral					0					0
Provision for Loan and Lease Losses, Total	(271,000)	$ (187,000)	$ 42,000	$ 471,000	$ 89,000	$ (134,000)	$ 3,957,000	$ (87,000)	55,000	$ 3,825,000
Other Real Estate with Valuation Adjustments	$ 0				$ 0				0	0
Impaired Loans [Member]
Provision for Loan and Lease Losses, Total									$ 28,000	$ 0

Note 16 - Company Only Condensed Financial Information - Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax asset	$ 2,741	$ 3,873
Other assets	8,920	10,086
Assets, Total	1,596,842	1,488,015
Total stockholders’ equity	172,930	174,372	$ 187,150
Liabilities and Equity, Total	1,596,842	1,488,015
Parent Company [Member]
Cash in subsidiary	10,996	6,864	$ 11,227
Investment in subsidiary	161,678	164,847
Deferred tax asset	393	558
Other assets	658	2,115
Assets, Total	173,725	174,384
Accrued expenses and other liabilities	795	12
Total stockholders’ equity	172,930	174,372
Liabilities and Equity, Total	$ 173,725	$ 174,384

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Note 5 - Other Real Estate Owned

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Real Estate Owned [Text Block]

NOTE 5 - OTHER REAL ESTATE OWNED

Real estate that is acquired through foreclosure or a deed in lieu of foreclosure is classified as OREO until it is sold. When real estate is acquired through foreclosure or by deed in lieu of foreclosure, it is recorded at its fair value, less the estimated costs of disposal. If the fair value of the property is less than the loan balance, the difference is charged against the allowance for loan losses.

The following represents the roll forward of OREO and the composition of OREO properties.

	*At and For the Years Ended December 31,*
	*2020*			*2019*
Beginning balance	$	186		$	1,226
New foreclosed properties		33			186
Capitalized improvements		47			—
Valuation adjustments		—			(38	)
Sales		(109	)		(1,188	)
Ending balance	$	157		$	186

	*December 31, 2020*						*December 31, 2019*
	*Balance*		*Valuation Allowance*		*Net OREO Balance*		*Balance*		*Valuation Allowance*		*Net OREO Balance*
One–to–four family residential	$	157	$	—	$	157	$	186	$	—	$	186

Activity in the valuation allowance is as follows:

	*At and For the Years Ended December 31,*
	*2020*		*2019*
Beginning of year	$	—	$	23
Additions charged to expense		—		38
Reductions from sales of other real estate owned		—		(61	)
End of year	$	—	$	—

At December 31, 2020 and 2019, the balance of OREO includes no foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At December 31, 2020 and 2019, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $187,000 and $237,000, respectively.

Note 14 - Fair Value - Financial Assets At Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Securities	$ 23,829	$ 60,193
Certificates of Deposit [Member]
Securities	15,117	48,666
US States and Political Subdivisions Debt Securities [Member]
Securities	409	513
Residential Mortgage Backed Securities [Member]
Securities	6,108	8,037
Collateralized Mortgage Backed Securities [Member]
Securities	2,195	2,977
Fair Value, Inputs, Level 1 [Member]
Securities	0	0
Fair Value, Inputs, Level 1 [Member] \| Certificates of Deposit [Member]
Securities	0	0
Fair Value, Inputs, Level 1 [Member] \| US States and Political Subdivisions Debt Securities [Member]
Securities	0	0
Fair Value, Inputs, Level 1 [Member] \| Residential Mortgage Backed Securities [Member]
Securities	0	0
Fair Value, Inputs, Level 1 [Member] \| Collateralized Mortgage Backed Securities [Member]
Securities	0	0
Fair Value, Inputs, Level 2 [Member]
Securities	23,829	60,193
Fair Value, Inputs, Level 2 [Member] \| Certificates of Deposit [Member]
Securities	15,117	48,666
Fair Value, Inputs, Level 2 [Member] \| US States and Political Subdivisions Debt Securities [Member]
Securities	409	513
Fair Value, Inputs, Level 2 [Member] \| Residential Mortgage Backed Securities [Member]
Securities	6,108	8,037
Fair Value, Inputs, Level 2 [Member] \| Collateralized Mortgage Backed Securities [Member]
Securities	2,195	2,977
Fair Value, Inputs, Level 3 [Member]
Securities	0	0
Fair Value, Inputs, Level 3 [Member] \| Certificates of Deposit [Member]
Securities	0	0
Fair Value, Inputs, Level 3 [Member] \| US States and Political Subdivisions Debt Securities [Member]
Securities	0	0
Fair Value, Inputs, Level 3 [Member] \| Residential Mortgage Backed Securities [Member]
Securities	0	0
Fair Value, Inputs, Level 3 [Member] \| Collateralized Mortgage Backed Securities [Member]
Securities	$ 0	$ 0

Note 10 - Income Taxes - Schedule of Deferred Tax Assets, Net (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Allowance for loan losses	$ 2,075,000	$ 2,043,000
Alternative minimum tax and net operating loss carryforwards	3,999,000	4,452,000
Lease liability	1,358,000	1,565,000
Tax deductible goodwill and core deposit intangible	63,000	314,000
Other	505,000	741,000
Deferred Tax Assets, Gross, Total	8,000,000	9,115,000
Net deferred loan origination costs	(873,000)	(1,013,000)
Purchase accounting adjustments	(1,570,000)	(1,623,000)
Right of use asset	(1,358,000)	(1,565,000)
Other	(1,180,000)	(958,000)
Unrealized gain on securities	(78,000)	(83,000)
Deferred Tax Liabilities, Gross, Total	(5,059,000)	(5,242,000)
Valuation allowance	(200,000)	0
Deferred Tax Assets, Net, Total	$ 2,741,000	$ 3,873,000

Note 13 - Loan Commitments and Other Off-balance-sheet Activities

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Loan Commitments And Other Off-Balance Sheet Activities [Text Block]

NOTE 13 – LOAN COMMITMENTS AND OTHER OFF-BALANCE-SHEET ACTIVITIES

The Company is party to various financial instruments with off-balance-sheet risk. The Company uses these financial instruments in the normal course of business to meet the financing needs of customers and to effectively manage exposure to interest rate risk. These financial instruments include commitments to extend credit, standby letters of credit, unused lines of credit, and commitments to sell loans. When viewed in terms of the maximum exposure, those instruments may involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. Credit risk is the possibility that a counterparty to a financial instrument will be unable to perform its contractual obligations. Interest rate risk is the possibility that, due to changes in economic conditions, the Company’s net interest income will be adversely affected.

The following is a summary of the contractual or notional amount of each significant class of off-balance-sheet financial instruments outstanding. The Company’s exposure to credit loss in the event of nonperformance by the counterparty for commitments to extend credit, standby letters of credit, and unused lines of credit is represented by the contractual notional amount of these instruments.

	*December 31,*
	*2020*		*2019*
Financial instruments wherein contractual amounts represent credit risk
Commitments to extend credit	$	31,131	$	19,737
Standby letters of credit		6,668		6,119
Unused lines of credit		200,240		149,771

Commitments to extend credit are generally made for periods of 60 days or less. The fixed-rate loans commitment totaled $23.1 million with interest rates ranging from 2.65% to 9.83% and maturities ranging from 1 to 30 years.

Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customers.

Note 14 - Fair Value - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Securities	$ 23,829,000	$ 60,193,000
Certificates of deposit	253,000,000	402,034,000
Securities available-for-sale	23,829,000	60,193,000
Fair Value, Inputs, Level 1 [Member]
Securities	0	0
Securities available-for-sale	0	0
Fair Value, Inputs, Level 2 [Member]
Securities	23,829,000	60,193,000
Securities available-for-sale	23,829,000	60,193,000
Fair Value, Inputs, Level 3 [Member]
Securities	0	0
Securities available-for-sale	0	0
Reported Value Measurement [Member]
Cash and cash equivalents	503,496,000	190,325,000
Securities	23,829,000	60,193
Loans receivable, net of allowance for loan losses	1,002,578,000	1,168,008,000
FHLB and FRB stock	7,490,000	7,490,000
Accrued interest receivable	3,941,000	4,563,000
Certificates of deposit	253,000,000	402,034,000
Borrowings	4,000,000	61,000
Securities available-for-sale	23,829,000	60,193
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	503,496,000	190,325,000
Securities	23,829,000	60,193
Loans receivable, net of allowance for loan losses	1,004,854,000	1,177,459,000
Accrued interest receivable	3,941,000	4,563,000
Certificates of deposit	253,906,000	402,914,000
Borrowings	3,998,000	61,000
Securities available-for-sale	23,829,000	60,193
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	14,115,000	9,785,000
Securities	0	0
Loans receivable, net of allowance for loan losses	0	0
FHLB and FRB stock	0	0
Accrued interest receivable	0	0
Certificates of deposit	0	0
Borrowings	0	0
Securities available-for-sale	0	0
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	489,381,000	180,540,000
Securities	23,829,000	60,193
Loans receivable, net of allowance for loan losses	0	0
FHLB and FRB stock	0	0
Accrued interest receivable	52,000	252,000
Certificates of deposit	253,906,000	402,914,000
Borrowings	3,998,000	61,000
Securities available-for-sale	23,829,000	60,193
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Securities	0	0
Loans receivable, net of allowance for loan losses	1,004,854,000	1,177,459,000
FHLB and FRB stock	0	0
Accrued interest receivable	3,889,000	4,311,000
Certificates of deposit	0	0
Borrowings	0	0
Securities available-for-sale	$ 0	$ 0

Note 6 - Premises and Equipment

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 – PREMISES AND EQUIPMENT

Year-end premises and equipment are as follows:

	*December 31,*
	*2020*			*2019*
Land and land improvements	$	11,989		$	11,918
Buildings and improvements		31,145			30,585
Furniture and equipment		10,111			9,454
Computer equipment		4,798			4,326
		58,043			56,283
Accumulated depreciation		(33,368	)		(31,937	)
	$	24,675		$	24,346

Depreciation of premises and equipment was $1.7 million and $1.6 million for the years ended December 31, 2020 and 2019, respectively.

Note 9 - Borrowings - Securities Sold Under Agreements to Repurchase (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Repurchase agreements and repurchase-to-maturity transactions	$ 61
Gross amount of recognized liabilities for repurchase agreements in Statement of Financial Condition	61
Debt Instrument, Redemption, Period One [Member]
Repurchase agreements and repurchase-to-maturity transactions	61
Debt Instrument, Redemption, Period Two [Member]
Repurchase agreements and repurchase-to-maturity transactions	0
Debt Instrument, Redemption, Period Three [Member]
Repurchase agreements and repurchase-to-maturity transactions	0
Debt Instrument, Redemption, Period Four [Member]
Repurchase agreements and repurchase-to-maturity transactions	$ 0

Note 4 - Loans Receivable - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Beginning balance				$ 7,632				$ 8,470	$ 7,632	$ 8,470
Provision for loan losses	$ (271)	$ (187)	$ 42	471	$ 89	$ (134)	$ 3,957	(87)	55	3,825
Loans charged off									(71)	(4,779)
Recoveries									135	116
Real Estate Portfolio [Member]
Loans charged off									0
Commercial Portfolio Segment [Member]
Beginning balance				2,065				2,272	2,065	2,272
Provision for loan losses									(533)	4,226
Loans charged off									(62)	(4,443)
Recoveries									4	10
Consumer Portfolio Segment [Member]
Beginning balance				40				28	40	28
Provision for loan losses									76	43
Loans charged off										(31)
Recoveries									0	0
One-to-Four Family Residential Real Estate [Member] \| Real Estate Portfolio [Member]
Beginning balance				675				699	675	699
Provision for loan losses									(185)	123
Loans charged off									(9)	(222)
Recoveries									37	75
Multi-family Mortgage [Member] \| Real Estate Portfolio [Member]
Beginning balance				3,676				3,991	3,676	3,991
Provision for loan losses									292	(346)
Loans charged off									0	0
Recoveries									94	31
Nonresidential Real Estate [Member] \| Real Estate Portfolio [Member]
Beginning balance				1,176				1,476	1,176	1,476
Provision for loan losses									393	(217)
Loans charged off										(83)
Recoveries									0	0
Construction and Land Loans [Member]
Beginning balance				$ 0				$ 4	0	4
Provision for loan losses									12	(4)
Loans charged off									0	0
Recoveries									$ 0	$ 0

Note 15 - Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Disaggregation of Revenue [Table Text Block]

	*For the years ended December 31,*
	*2020*			*2019*
Deposit service charges and fees	$	3,196		$	3,844
Loan servicing fees ⁽¹⁾		552			451
Mortgage brokerage and banking fees ⁽¹⁾		98			149
Gain on sale of equity securities ⁽¹⁾		—			295
Loss on disposal of other assets		(5	)		(44	)
Trust and insurance commissions and annuities income		961			844
Earnings on bank-owned life insurance ⁽¹⁾		70			136
Other ⁽¹⁾		494			497
Total noninterest income	$	5,366		$	6,172

Note 9 - Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Federal Home Loan Bank, Advances [Table Text Block]

	*December 31,*
	*2020*					*2019*
	*Contractual Rate*			*Amount*		*Contractual Rate*			*Amount*
Fixed-rate advance from FHLB, due within 1 year		—	%	$	4,000		—	%	$	—

Schedule of Repurchase Agreements [Table Text Block]

	*Overnight and Continuous*		*Up to 30 days*		*30 - 90 days*		*Greater Than 90 days*		*Total*
December 31, 2019
Repurchase agreements and repurchase-to-maturity transactions	$	61	$	—	$	—	$	—	$	61
Gross amount of recognized liabilities for repurchase agreements in Statement of Financial Condition									$	61

Note 12 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation And Postretirement Benefits, Minimum Age Of Employee (Year)	21 years
Share Based Compensation And Postretirement Benefits, Period of Service Required For Eligibility (Year)	1 year
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	50.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	6.00%
Defined Contribution Plan, Cost	$ 331,000	$ 323,000

Note 17 - Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Quarterly Financial Information [Table Text Block]

	*For the year ended December 31, 2020*
	*First Quarter*		*Second Quarter*		*Third Quarter*			*Fourth Quarter*
Interest income	$	14,653	$	13,194	$	12,485		$	12,543
Interest expense		2,684		1,869		1,488			947
Net interest income		11,969		11,325		10,997			11,596
Provision for (recovery of) loan losses		471		42		(187	)		(271	)
Net interest income after provision for (recovery of) loan losses		11,498		11,283		11,184			11,867
Noninterest income		1,398		1,163		1,264			1,541
Noninterest expense		9,628		9,249		9,787			9,774
Income before income taxes		3,268		3,197		2,661			3,634
Income tax expense		850		845		713			1,189
Net income	$	2,418	$	2,352	$	1,948		$	2,445
Basic and diluted earnings per common share	$	0.16	$	0.16	$	0.13		$	0.17

	For the year ended December 31, 2019
	First Quarter			Second Quarter		Third Quarter			Fourth Quarter
Interest income	$	16,526		$	16,522	$	16,628		$	15,732
Interest expense		3,307			3,419		3,386			3,105
Net interest income		13,219			13,103		13,242			12,627
Provision for (recovery of) loan losses		(87	)		3,957		(134	)		89
Net interest income		13,306			9,146		13,376			12,538
Noninterest income		1,624			1,426		1,474			1,648
Noninterest expense		10,098			9,472		9,509			9,562
Income before income taxes		4,832			1,100		5,341			4,624
Income tax expense		1,281			293		1,417			1,234
Net income	$	3,551		$	807	$	3,924		$	3,390
Basic and diluted earnings per common share	$	0.22		$	0.05	$	0.26		$	0.22

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2020	Feb. 23, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001303942
Entity Registrant Name	BankFinancial CORP
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	0-51331
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	75-3199276
Entity Address, Address Line One	60 North Frontage Road
Entity Address, City or Town	Burr Ridge
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60527
City Area Code	800
Local Phone Number	894-6900
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BFIN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 116,500,000
Entity Common Stock, Shares Outstanding		14,732,765

Note 6 - Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Property, Plant and Equipment [Table Text Block]

	*December 31,*
	*2020*			*2019*
Land and land improvements	$	11,989		$	11,918
Buildings and improvements		31,145			30,585
Furniture and equipment		10,111			9,454
Computer equipment		4,798			4,326
		58,043			56,283
Accumulated depreciation		(33,368	)		(31,937	)
	$	24,675		$	24,346

Note 12 - Employee Benefit Plan

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

NOTE 12 – EMPLOYEE BENEFIT PLAN

Profit Sharing Plan/401(k) Plan. The Company has a defined contribution plan (“profit sharing plan”) covering all of its eligible employees. Employees are eligible to participate in the profit sharing plan after attainment of age 21 and completion of one year of service. The Company provides a match of $0.50 on each $1.00 of contribution up to 6% of eligible compensation beginning April 1, 2007. The Company may also contribute an additional amount annually at the discretion of the Board of Directors. Contributions totaling $331,000 and $323,000 were made for the years ended December 31, 2020 and 2019, respectively.

Note 10 - Income Taxes (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Bad Debt Reserve for Tax Purposes of Qualified Lender	$ 14,900,000
Deferred Tax Assets, Net, Total	2,741,000	$ 3,873,000
Tax Credit Carryforwards, Alternative Minimum Tax, Not Subject to Expiration	225,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	44,700,000
State and Local Jurisdiction [Member] \| Illinois Department of Revenue [Member]
Tax Credit Carryforward, Valuation Allowance	200,000	$ 0
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	$ 7,200,000

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Allowance for loan losses	$ 7,751	$ 7,632
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred Stock, shares issued (in shares)	0	0
Preferred Stock, shares outstanding (in shares)	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	100,000,000	100,000,000
Common Stock, shares issued (in shares)	14,769,765	15,278,464

Consolidated Statements of Changes In Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Repurchase and retirement of common stock (in shares)	508,699	1,203,050
Cash dividends declared on common stock (in dollars per share)	$ 0.40	$ 0.40

Note 14 - Fair Value (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	*Fair Value Measurements Using*
	*Quoted Prices in Active Markets for Identical Assets (Level 1)*		*Significant Observable Inputs (Level 2)*		*Significant Unobservable Inputs (Level 3)*		*Fair Value*
December 31, 2020
Securities:
Certificates of deposit	$	—	$	15,117	$	—	$	15,117
Municipal securities		—		409		—		409
Mortgage-backed securities – residential		—		6,108		—		6,108
Collateralized mortgage obligations – residential		—		2,195		—		2,195
	$	—	$	23,829	$	—	$	23,829

December 31, 2019
Securities:
Certificates of deposit	$	—	$	48,666	$	—	$	48,666
Municipal securities		—		513		—		513
Mortgage-backed securities - residential		—		8,037		—		8,037
Collateralized mortgage obligations – residential		—		2,977		—		2,977
	$	—	$	60,193	$	—	$	60,193

Fair Value Measurements, Nonrecurring [Table Text Block]

	*Fair Value Measurement Using*
	*Quoted Prices in Active Markets for Identical Assets (Level 1)*		*Significant Observable Inputs (Level 2)*		*Significant Unobservable Inputs (Level 3)*		*Fair Value*
December 31, 2020
Impaired loans - nonresidential real estate	$	—	$	—	$	268	$	268

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

	*Fair Value*		*Valuation Technique*	*Unobservable Input*	*Range (Weighted Average)*
December 31, 2020
Impaired loans - nonresidential real estate	$	268	Sales comparison	Discount applied to valuation		22.0	%

Fair Value, by Balance Sheet Grouping [Table Text Block]

			*Fair Value Measurements at December 31, 2020 Using:*
	*Carrying Amount*		*Level 1*		*Level 2*		*Level 3*		*Total*
Financial assets
Cash and cash equivalents	$	503,496	$	14,115	$	489,381	$	—	$	503,496
Securities		23,829		—		23,829		—		23,829
Loans receivable, net of allowance for loan losses		1,002,578		—		—		1,004,854		1,004,854
FHLB and FRB stock		7,490		—		—		—		N/A
Accrued interest receivable		3,941		—		52		3,889		3,941
Financial liabilities
Certificates of deposit		253,000		—		253,906		—		253,906
Borrowings		4,000		—		3,998		—		3,998

			Fair Value Measurements at December 31, 2019 Using:
	Carrying Amount		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	190,325	$	9,785	$	180,540	$	—	$	190,325
Securities available-for-sale		60,193		—		60,193		—		60,193
Loans receivable, net of allowance for loan losses		1,168,008		—		—		1,177,459		1,177,459
FHLB and FRB stock		7,490		—		—		—		N/A
Accrued interest receivable		4,563		—		252		4,311		4,563
Financial liabilities
Certificates of deposit		402,034		—		402,914		—		402,914
Borrowings		61		—		61		—		61

Note 17 - Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Quarterly Financial Information [Text Block]

NOTE 17 – SELECTED QUARTERLY FINANCIAL DATA (unaudited)

	*For the year ended December 31, 2020*
	*First Quarter*		*Second Quarter*		*Third Quarter*			*Fourth Quarter*
Interest income	$	14,653	$	13,194	$	12,485		$	12,543
Interest expense		2,684		1,869		1,488			947
Net interest income		11,969		11,325		10,997			11,596
Provision for (recovery of) loan losses		471		42		(187	)		(271	)
Net interest income after provision for (recovery of) loan losses		11,498		11,283		11,184			11,867
Noninterest income		1,398		1,163		1,264			1,541
Noninterest expense		9,628		9,249		9,787			9,774
Income before income taxes		3,268		3,197		2,661			3,634
Income tax expense		850		845		713			1,189
Net income	$	2,418	$	2,352	$	1,948		$	2,445
Basic and diluted earnings per common share	$	0.16	$	0.16	$	0.13		$	0.17

The Company’s net income for the fourth quarter of 2020 included $605,000 of income related to loan prepayments, $255,000 of commercial credit facilities fees, and $162,000 of fee income from the Paycheck Protection Program and a modest increase in trust income. These increases were partially offset by a reduction of deposit services income related to retail account activity. The Company’s noninterest expense for the fourth quarter of 2020 was consistent with the prior quarter despite increases in occupancy expenses related to COVID-19 health security and risk mitigation, real estate taxes on branch facilities, personnel expenses related to equipment finance incentive plans and recruiting expenses related to the addition of originations and underwriting personnel for the Bank's Commercial Finance Division and Treasury Services Department.

	For the year ended December 31, 2019
	First Quarter			Second Quarter		Third Quarter			Fourth Quarter
Interest income	$	16,526		$	16,522	$	16,628		$	15,732
Interest expense		3,307			3,419		3,386			3,105
Net interest income		13,219			13,103		13,242			12,627
Provision for (recovery of) loan losses		(87	)		3,957		(134	)		89
Net interest income		13,306			9,146		13,376			12,538
Noninterest income		1,624			1,426		1,474			1,648
Noninterest expense		10,098			9,472		9,509			9,562
Income before income taxes		4,832			1,100		5,341			4,624
Income tax expense		1,281			293		1,417			1,234
Net income	$	3,551		$	807	$	3,924		$	3,390
Basic and diluted earnings per common share	$	0.22		$	0.05	$	0.26		$	0.22

The Company recorded net income of $3.4 million, or $0.22 per common share, for the fourth quarter of 2019. The Company’s net interest income before provision for loan losses was $12.6 million due to the decline in the loan portfolio and lower market yields. The Company’s fourth quarter 2019 noninterest expense includes a $24,000 net recovery of non-performing loans expenses due to collections of previous recognized expenses.

Note 8 - Deposits (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Deposit Liabilities, Type [Table Text Block]

	*December 31,*
	*2020*		*2019*
Noninterest-bearing demand deposits	$	326,188	$	210,762
Interest-bearing NOW accounts		336,994		273,168
Money market accounts		297,801		245,610
Savings deposits		179,561		153,183
Certificates of deposit		253,000		402,034
	$	1,393,544	$	1,284,757

Time Deposit Maturities [Table Text Block]

2021	$	188,040
2022		54,384
2023		8,160
2024		2,238
2025		178
	$	253,000

Note 9 - Borrowings

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE 9 — BORROWINGS

At year-end, advances from the FHLB were as follows:

	*December 31,*
	*2020*					*2019*
	*Contractual Rate*			*Amount*		*Contractual Rate*			*Amount*
Fixed-rate advance from FHLB, due within 1 year		—	%	$	4,000		—	%	$	—

The Company maintains a collateral pledge agreement covering secured advances whereby the Company has agreed to keep on hand, free of all other pledges, liens, and encumbrances, specifically identified whole first mortgages on improved residential property not more than 90-days delinquent to secure advances from the FHLB. All of the Bank’s FHLB common stock is pledged as additional collateral for these advances. At December 31, 2020, $25.4 million and $328.1 million of first mortgage and multi-family mortgage loans, respectively, collateralized potential advances. At December 31, 2020, we had the ability to borrow an additional $315.6 million under our credit facilities with the FHLB. The Company also had available pre-approved overnight federal funds borrowing. At December 31, 2020 and 2019, there was no outstanding balance on these lines.

Securities sold under agreements to repurchase, which are included with borrowings on the consolidated balance sheet, are shown below.

	*Overnight and Continuous*		*Up to 30 days*		*30 - 90 days*		*Greater Than 90 days*		*Total*
December 31, 2019
Repurchase agreements and repurchase-to-maturity transactions	$	61	$	—	$	—	$	—	$	61
Gross amount of recognized liabilities for repurchase agreements in Statement of Financial Condition									$	61

There were no repurchase agreements and repurchase-to-maturity transactions at December 31, 2020.

Securities sold under agreements to repurchase were secured by a mortgage-backed security with a carrying amount of $2.0 million at December 31, 2019. As the security's value fluctuates due to market conditions, the Company has no control over the market value. The Company is obligated to promptly transfer additional securities if the market value of the securities falls below the repurchase price, per the agreement.

On April 1, 2020, the Company established a $5.0 million unsecured line of credit with a correspondent bank. Interest is payable at a rate of Prime rate minus 0.75%. The line of credit will mature on April 1, 2021. The line of credit had no outstanding balance at December 31, 2020.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation: BankFinancial Corporation, a Maryland corporation headquartered in Burr Ridge, Illinois, is the owner of all of the issued and outstanding capital stock of BankFinancial, National Association (the “Bank”). BankFinancial Corporation is a registered Bank Holding Company and its wholly-owned bank subsidiary is operating as BankFinancial, National Association.

Consolidation, Policy [Policy Text Block]

Use of Estimates, Policy [Policy Text Block]

Use of Estimates: The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Although these estimates and assumptions are based on the best available information, actual information, actual results could differ from those estimates.

Covid-19 [Policy Text Block]

COVID-19: On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a global pandemic. The declaration of a global pandemic indicates that almost all public commerce and related business activities must be, to varying degrees, curtailed with the goal of decreasing the rate of new infections. The outbreak of COVID-19 has adversely impacted, and could further adversely impact, a broad range of industries in which the Company’s customers operate and impair their ability to fulfill their financial obligations to the Company. On March 3, 2020, the Federal Open Market Committee reduced the target federal funds rate by 50 basis points to 1.00% to 1.25%. This rate was further reduced to a target range of 0% to 0.25% on March 16, 2020. These reductions in interest rates and other effects of the COVID-19 outbreak may adversely affect the Company’s financial condition and results of operations. As a result of the spread of the COVID-19 coronavirus, economic uncertainties have arisen which are likely to negatively impact net interest income and noninterest income. Other financial impacts could occur though such potential impact is unknown at this time.

Subsequent Events, Policy [Policy Text Block]

Subsequent events: The Company has evaluated subsequent events for potential recognition and/or disclosures through the date the Consolidated Financial Statements included in this Annual Report on Form 10-K were issued.

Interest-bearing Deposits in Other Financial Institutions [Policy Text Block]

Interest-bearing Deposits in Other Financial Institutions: Interest-bearing deposits in other financial institutions maturing in less than 90 days are carried at cost.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash Flows: Cash and cash equivalents include cash, deposits with other financial institutions maturing in less than 90 days, and daily federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, borrowings, and advance payments by borrowers for taxes and insurance.

Marketable Securities, Policy [Policy Text Block]

Securities: Debt securities are classified as available-for-sale when they might be sold before maturity. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold. Declines in the fair value of securities below their cost that are other-than-temporary are reflected as realized losses. In determining if losses are other-than-temporary, management considers: (1) the length of time and extent that fair value has been less than cost or adjusted cost, as applicable, (2) the financial condition and near term prospects of the issuer, and (3) whether the Company has the intent to sell the debt security or it is more likely than not that the Company will be required to sell the debt security before the anticipated recovery.

Securities also include investments in certificates of deposit with maturities of greater than 90 days. These certificates of deposit are placed with insured institutions for varying maturities and amounts that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”).

Equity Securities without Readily Determinable Fair Value [Policy Text Block]

Equity Securities: Equity securities are accounted for in accordance with ASC 321-10 Investments - Equity Securities. Our equity securities may be classified into two categories and accounted for as follows:

•

Equity securities with a readily determinable fair value are reported at fair value, with unrealized gains and losses included in earnings. Any dividends received are recorded in interest income.


	•	Equity securities without a readily determinable fair value are reported at their cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer and their impact on fair value. Any dividends received are recorded in interest income.

The fair value of equity investments with readily determinable fair values is primarily obtained from third-party pricing services. For equity investments without readily determinable fair values, when an orderly transaction for the identical or similar investment of the same issuer is identified, we use the valuation techniques permitted under ASC 820 Fair Value to evaluate the observed transaction(s) and adjust the fair value of the equity investment.

ASC 321-10 also provides guidance related to accounting for impairment of equity securities without readily determinable fair values. The qualitative assessment to determine whether impairment exists requires the use of our judgment in certain circumstances. If, after completing the qualitative assessment we conclude an equity investment without a readily determinable fair value is impaired, a loss for the difference between the equity investment’s carrying value and its fair value may be recognized as a reduction to noninterest income in the Consolidated Statements of Operations.

Federal Home Loan Bank Stock, Policy [Policy Text Block]

Federal Home Loan Bank (“FHLB”) Stock: The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.

Federal Reserve Bank Stock, Policy [Policy Text Block]

Federal Reserve Bank (“FRB”) Stock: The Bank is a member of its regional Federal Reserve Bank. FRB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.

Loans and Loan Income [Policy Text Block]

Loans and Loan Income: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of the allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan costs. Interest income on loans is recognized in income over the term of the loan based on the amount of principal outstanding.

Premiums and discounts associated with loans purchased are amortized over the contractual term of the loan using the level–yield method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

Interest income is reported on the interest method. Interest income is generally discontinued at the earlier of when a loan is 90 days past due or when we do not expect to receive full payment of interest or principal. Past due status is based on the contractual terms of the loan.

All interest accrued but not received for loans that have been placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash–basis or cost–recovery method until qualifying for return to accrual status. Once a loan is placed on nonaccrual status, the borrower must generally demonstrate at least six months of payment performance before the loan is eligible to return to accrual status. Generally, the Company utilizes the “90 days delinquent, still accruing” category of loan classification when: (1) the loan is repaid in full shortly after the period end date; (2) the loan is well secured and there are no asserted or pending legal barriers to its collection; or (3) the borrower has remitted all scheduled payments and is otherwise in substantial compliance with the terms of the loan, but the processing of payments actually received or the renewal of a loan has not occurred for administrative reasons.

Loans and Leases Receivable, Nonperforming Loan and Lease, Policy [Policy Text Block]

Impaired Loans: Impaired loans principally consist of nonaccrual loans and troubled debt restructurings (“TDRs”). A loan is considered impaired when, based on current information and events, management believes that it is probable that we will be unable to collect all amounts due (both principal and interest) according to the original contractual terms of the loan agreement. Once a loan is determined to be impaired, the amount of impairment is measured based on the loan's observable fair value, the fair value of the underlying collateral less selling costs if the loan is collateral-dependent, or the present value of expected future cash flows discounted at the loan's effective interest rate. If the measurement of the impaired loan is less than the recorded investment in the loan, the bank's allowance for the impaired collateral dependent loan under ASC 310-10-35 is based on fair value (less costs to sell), but the charge-off (the confirmed “loss”) is based on the appraised value. The remaining recorded investment in the loan after the charge-off will have a loan loss allowance for the amount by which the estimated fair value of the collateral (less costs to sell) is less than its appraised value.

Impaired loans with specific reserves are reviewed quarterly for any changes that would affect the specific reserve. Any impaired loan for which a determination has been made that the economic value is permanently reduced is charged-off against the allowance for loan losses to reflect its current economic value in the period in which the determination has been made.

At the time a collateral-dependent loan is initially determined to be impaired, we review the existing collateral appraisal. If the most recent appraisal is greater than a year old, a new appraisal is obtained on the underlying collateral. Appraisals are updated with a new independent appraisal at least annually and are formally reviewed by our internal appraisal department upon receipt of a new appraisal. All impaired loans and their related reserves are reviewed and updated each quarter.

Troubled Debt Restructuring [Policy Text Block]

Troubled Debt Restructurings: A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that leads to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses.

In determining whether a debtor is experiencing financial difficulties, the Company considers if the debtor is in payment default or would be in payment default in the foreseeable future without the modification, the debtor declared or is in the process of declaring bankruptcy, there is substantial doubt that the debtor will continue as a going concern, the debtor has securities that have been or are in the process of being delisted, the debtor's entity-specific projected cash flows will not be sufficient to service any of its debt, or the debtor cannot obtain funds from sources other than the existing creditors at a market rate for debt with similar risk characteristics.

In determining whether the Company has granted a concession, the Company assesses, if it does not expect to collect all amounts due, whether the current value of the collateral will satisfy the amounts owed, whether additional collateral or guarantees from the debtor will serve as adequate compensation for other terms of the restructuring, and whether the debtor otherwise has access to funds at a market rate for debt with similar risk characteristics.

Periodically, the Company will restructure a note into two separate notes (A/B structure), charging off the entire B portion of the note. The A note is structured with appropriate loan-to-value and cash flow coverage ratios that provide for a high likelihood of repayment. The A note is classified as a nonperforming note until the borrower has displayed a historical payment performance for a reasonable time prior to and subsequent to the restructuring. A period of sustained repayment for at least six months generally is required to return the note to accrual status provided that management has determined that the performance is reasonably expected to continue. The A note will be classified as a restructured note (either performing or nonperforming) through the calendar year of the restructuring that the historical payment performance has been established.

Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]

Allowance for Loan Losses: The Company establishes provisions for loan losses, which are charged to the Company’s results of operations to maintain the allowance for loan losses to absorb probable incurred credit losses in the loan portfolio. In determining the level of the allowance for loan losses, the Company considers past and current loss experience, trends in classified loans, evaluations of real estate collateral, current economic conditions, volume and type of lending, adverse situations that may affect a borrower’s ability to repay a loan and the levels of nonperforming and other classified loans. The amount of the allowance is based on estimates and the ultimate losses may vary from the estimates as more information becomes available or events change.

The Company provides for loan losses based on the allowance method. Accordingly, all loan losses are charged to the related allowance and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors that, in our judgment, deserve current recognition in estimating probable incurred credit losses. The Company reviews the loan portfolio on an ongoing basis and makes provisions for loan losses on a quarterly basis to maintain the allowance for loan losses in accordance with US GAAP. The allowance for loan losses consists of two components:

•	specific allowances established for any impaired residential non-owner occupied mortgage, multi-family mortgage, nonresidential real estate, construction and land, commercial, and commercial lease loans for which the recorded investment in the loan exceeds the measured value of the loan; and

•	general allowances for loan losses for each loan class based on historical loan loss experience; and adjustments to historical loss experience (general allowances), maintained to cover uncertainties that affect our estimate of probable incurred credit losses for each loan class.

The adjustments to historical loss experience are based on our evaluation of several factors, including levels of, and trends in, past due and classified loans; levels of, and trends in, charge–offs and recoveries; trends in volume and terms of loans, including any credit concentrations in the loan portfolio; experience and ability of lending management and other relevant staff; and national and local economic trends and conditions.

The Company evaluates the allowance for loan losses based upon the combined total of the specific and general components. Generally, when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable incurred credit losses than would be the case without the increase. Conversely, when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology generally results in a lower dollar amount of estimated probable losses than would be the case without the decrease.

The loss ratio used in computing the required general loan loss reserve allowance for a given class of loan consists of (i) the actual loss ratio (measured on a weighted, rolling twelve-quarter basis), (ii) the change in credit quality within the specific loan class during the period, (iii) the actual inherent risk factor assigned to the specific loan class and (iv) the actual concentration of risk factor assigned to the specific loan class (collectively, the “Specific Loan Class Risk Factors”). The Specific Loan Class Risk Factors are weighted equally in the calculation. In addition, two additional quantitative factors, the National Economic risk factor and the Local Economic risk factor, are also components of the computation but are given different weightings in their computation due to their relative applicability to the specific loan class in the context of the effect of national and local economic conditions on their risk profile and performance.

Mortgage Banking Activity [Policy Text Block]

Mortgage Servicing Rights: Mortgage servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value and gains on sales of loans are recorded in the statement of operations. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with amortization and impairment of servicing assets on the statement of operations. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.

Servicing fee income that is reported on the statement of operations as loan servicing fees is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not material.

First mortgage loans serviced for others are not included in the accompanying consolidated statements of financial condition. The unpaid principal balances of these loans were $48.4 million and $63.4 million at December 31, 2020 and 2019, respectively. Custodial escrow balances maintained in connection with the foregoing loan servicing activities were $1.9 million and $2.2 million at December 31, 2020 and 2019, respectively. Capitalized mortgage servicing rights are included in other assets in the accompanying consolidated statements of financial condition. Servicing rights were $257,000 and $335,000 at December 31, 2020 and 2019, respectively, with no valuation allowance at December 31, 2020 and 2019.

Financing Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block]

Other Real Estate Owned ("OREO"): Foreclosed assets are initially recorded at fair value less cost to sell when acquired, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when the legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at a lower of cost or fair value less estimated cost to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating expenses, gains and losses on disposition, and changes in the valuation allowance are reported in noninterest expense as operations of other real estate owned.

Property, Plant and Equipment, Policy [Policy Text Block]

Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on the straight-line method over the estimated useful lives of the assets. Useful lives are estimated to be 25 to 40 years for buildings and improvements that extend the life of the original building, ten to 20 years for routine building improvements, five to 15 years for furniture and equipment, two to five years for computer hardware and software and no greater than four years on automobiles. The cost of maintenance and repairs is charged to expense as incurred and significant repairs are capitalized.

Lessee, Leases [Policy Text Block]

Lease Accounting: The Company adopted FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”), including the adoption of the practical expedients, effective January 1, 2019. Leases (Topic 842) establishes a right of use model that requires a lessee to record a right of use (“ROU”) asset and a lease liability for all leases with terms longer than 12 months. The Company enters into operating leases in the normal course of business primarily for several of its branch and corporate locations. At adoption, January 1, 2019, the Company recorded assets and liabilities of $6.7 million as a result of recording additional lease contracts where the Company is lessee. The Company did not restate comparative periods.

Currently the Company is obligated under four non-cancellable operating lease agreements for three branch properties and its corporate office. The leases have varying terms, the longest of which will end in 2032. The Company's lease agreements include options to renew at the Company's discretion. The extensions are not reasonably certain to be exercised; therefore, they were not considered in the calculation of the ROU asset and lease liability. The Company has also elected not to recognize leases with original lease terms of 12 months or less (short-term leases) in the Company's Statement of Financial Condition. The ROU assets are included in other assets and the lease obligations are included in other liabilities in the accompanying consolidated statements of financial condition.

Goodwill and Intangible Assets, Policy [Policy Text Block]

Other Intangible Assets: Intangible assets acquired in a purchase business combination with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets (“CDI”), are recognized at the time of acquisition based on valuations prepared by independent third parties or other estimates of fair value. In preparing such valuations, variables such as deposit servicing costs, attrition rates, and market discount rates are considered. CDI assets are amortized to expense over their useful lives. CDI were $7,000 and $41,000 at December 31, 2020 and 2019, respectively, and are included in other assets in the accompanying consolidated statements of financial condition.

Life Insurance Corporate Or Bank Owned [Policy Text Block]

Bank-Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. The Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.

Impairment or Disposal of Long-Lived Assets, Including Goodwill and Intangible Assets, Policy [Policy Text Block]

Long-Term Assets: Premises and equipment, right of use assets, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value.

Loan Commitments, Policy [Policy Text Block]

Loan Commitments and Related Financial Instruments: Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.

Income Tax, Policy [Policy Text Block]

Income Taxes: Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Under US GAAP, a deferred tax asset valuation allowance is required to be recognized if it is “more likely than not” that the deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future taxable income, applicable tax planning strategies, and assessments of current and future economic and business conditions. The Company considers both positive and negative evidence regarding the ultimate realizability of our deferred tax assets. Examples of positive evidence may include the existence, if any, of taxes paid in available carry-back years and the likelihood that taxable income will be generated in future periods. Examples of negative evidence may include a cumulative loss in the current year and prior two years and negative general business and economic trends. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date.

This analysis is updated quarterly and adjusted as necessary. At December 31, 2020, the Company had a net deferred tax asset of $2.7 million, net of a $200,000 valuation allowance against the Illinois net operating loss deduction carryforward. The net deferred tax asset was $3.9 million at December 31, 2019.

A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, presuming that a tax examination will occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely to be realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded.

Pension and Other Postretirement Plans, Policy [Policy Text Block]

Retirement Plans: Employee 401(k) and profit sharing plan expense is the amount of matching contributions and any annual discretionary contribution made at the discretion of the Company’s Board of Directors.

Earnings Per Share, Policy [Policy Text Block]

Earnings per Common Share: Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is net income divided by the weighted average number of common shares outstanding during the period plus the dilutive effect of potential common shares.

Commitments and Contingencies, Policy [Policy Text Block]

Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the financial statements as of December 31, 2020.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]

Restrictions on Cash: The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank, based on a percentage of deposits. As of December 31, 2020 and 2019, the Bank has met the requirements.

The nature of the Company’s business requires that it maintain amounts with banks and federal funds sold which, at times, may exceed federally insured limits. Management monitors these correspondent relationships and the Company has not experienced any losses in such accounts.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Values of Financial Instruments: Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income: Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities, net of tax, which is also recognized as separate components of stockholders’ equity.

Transfers and Servicing of Financial Assets, Policy [Policy Text Block]

Transfers of Financial Assets: Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Segment Reporting, Policy [Policy Text Block]

Operating Segments: While management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

Reclassification, Comparability Adjustment [Policy Text Block]

Reclassifications: Certain reclassifications have been made in the prior year’s financial statements to conform to the current year’s presentation. Reclassifications had no effect on prior year net income or stockholders’ equity.

New Accounting Pronouncements, Policy [Policy Text Block]

Newly Issued Not Yet Effective Accounting Standards

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). These amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For SEC filers who are smaller reporting companies, ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022.

Note 8 - Deposits

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

NOTE 8 - DEPOSITS

Composition of deposits is as follows:

	*December 31,*
	*2020*		*2019*
Noninterest-bearing demand deposits	$	326,188	$	210,762
Interest-bearing NOW accounts		336,994		273,168
Money market accounts		297,801		245,610
Savings deposits		179,561		153,183
Certificates of deposit		253,000		402,034
	$	1,393,544	$	1,284,757

Time deposits that meet or exceed the FDIC Insurance limit of $250,000 were $30.7 million and $89.3 million at December 31, 2020 and 2019, respectively. Certificates of deposits include wholesale certificates totaling $9.9 million and $65.1 million at December 31, 2020 and 2019, respectively. Of those certificates, $18.9 million are brokered at December 31, 2019 and none at December 31, 2020.

Scheduled maturities of certificates of deposit for the next five years as of December 31, 2020 are as follows:

2021	$	188,040
2022		54,384
2023		8,160
2024		2,238
2025		178
	$	253,000

Note 14 - Fair Value

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Fair Value Disclosures [Text Block]

NOTE 14 – FAIR VALUE

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. 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 the fair value of each type of financial instrument:

Securities: The fair values of debt securities are generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2).

Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available for similar loans and collateral underlying such loans. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted in accordance with the allowance policy.

Other Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach with data from comparable properties. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly.

The following table sets forth the Company’s financial assets that were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	*Fair Value Measurements Using*
	*Quoted Prices in Active Markets for Identical Assets (Level 1)*		*Significant Observable Inputs (Level 2)*		*Significant Unobservable Inputs (Level 3)*		*Fair Value*
December 31, 2020
Securities:
Certificates of deposit	$	—	$	15,117	$	—	$	15,117
Municipal securities		—		409		—		409
Mortgage-backed securities – residential		—		6,108		—		6,108
Collateralized mortgage obligations – residential		—		2,195		—		2,195
	$	—	$	23,829	$	—	$	23,829

December 31, 2019
Securities:
Certificates of deposit	$	—	$	48,666	$	—	$	48,666
Municipal securities		—		513		—		513
Mortgage-backed securities - residential		—		8,037		—		8,037
Collateralized mortgage obligations – residential		—		2,977		—		2,977
	$	—	$	60,193	$	—	$	60,193

The following table sets forth the Company’s assets that were measured at fair value on a non-recurring basis:

	*Fair Value Measurement Using*
	*Quoted Prices in Active Markets for Identical Assets (Level 1)*		*Significant Observable Inputs (Level 2)*		*Significant Unobservable Inputs (Level 3)*		*Fair Value*
December 31, 2020
Impaired loans - nonresidential real estate	$	—	$	—	$	268	$	268

Impaired loans, which are measured for impairment using the fair value of the collateral for collateral–dependent loans, had a carrying amount of $296,000 with a valuation allowance of $28,000 at December 31, 2020. At December 31, 2019 there were no impaired loans that were measured for impairment using the fair value of the collateral for collateral-dependent loans and which had specific valuation allowances. There is an increase in the provision for loan losses of $28,000 for the year ended December 31, 2020, compared to no specific provision for loan losses for the year ended December 31, 2019.

At December 31, 2020 and 2019 there were no OREO properties with valuation allowances.

The following table presents quantitative information, based on certain empirical data with respect to Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2020:

	*Fair Value*		*Valuation Technique*	*Unobservable Input*	*Range (Weighted Average)*
December 31, 2020
Impaired loans - nonresidential real estate	$	268	Sales comparison	Discount applied to valuation		22.0	%

The carrying amount and estimated fair value of financial instruments are as follows:

			*Fair Value Measurements at December 31, 2020 Using:*
	*Carrying Amount*		*Level 1*		*Level 2*		*Level 3*		*Total*
Financial assets
Cash and cash equivalents	$	503,496	$	14,115	$	489,381	$	—	$	503,496
Securities		23,829		—		23,829		—		23,829
Loans receivable, net of allowance for loan losses		1,002,578		—		—		1,004,854		1,004,854
FHLB and FRB stock		7,490		—		—		—		N/A
Accrued interest receivable		3,941		—		52		3,889		3,941
Financial liabilities
Certificates of deposit		253,000		—		253,906		—		253,906
Borrowings		4,000		—		3,998		—		3,998

			Fair Value Measurements at December 31, 2019 Using:
	Carrying Amount		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	190,325	$	9,785	$	180,540	$	—	$	190,325
Securities available-for-sale		60,193		—		60,193		—		60,193
Loans receivable, net of allowance for loan losses		1,168,008		—		—		1,177,459		1,177,459
FHLB and FRB stock		7,490		—		—		—		N/A
Accrued interest receivable		4,563		—		252		4,311		4,563
Financial liabilities
Certificates of deposit		402,034		—		402,914		—		402,914
Borrowings		61		—		61		—		61

Loans: The exit price observations are obtained from an independent third-party using its proprietary valuation model and methodology and may not reflect actual or prospective market valuations. The valuation is based on the probability of default, loss given default, recovery delay, prepayment, and discount rate assumptions.

While the above estimates are based on management’s judgment of the most appropriate factors, as of the balance sheet date, there is no assurance that the estimated fair values would have been realized if the assets were disposed of or the liabilities settled at that date, since market values may differ depending on the various circumstances. The estimated fair values would also not apply to subsequent dates.

In addition, other assets and liabilities that are not financial instruments, such as premises and equipment, are not included in the above disclosures.

- Definition

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.

+ References + Details

Consolidated Statements of Operations - USD ($)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Interest and dividend income

Loans, including fees

$ 50,467,000

$ 60,568,000

Securities

854,000

2,082,000

Other

1,554,000

2,758,000

Total interest income

52,875,000

65,408,000

Interest expense

Deposits

6,988,000

13,128,000

Borrowings

89,000

Total interest expense

6,988,000

13,217,000

Net interest income

45,887,000

52,191,000

Provision for loan losses

55,000

3,825,000

Net interest income after provision for loan losses

45,832,000

48,366,000

Noninterest income

Deposit service charges and fees

3,196,000

3,844,000

Loan servicing fees

^[1]

552,000

451,000

Mortgage brokerage and banking fees

^[1]

98,000

149,000

Gain on sale of equity securities

^[1]

295,000

Loss on disposal of other assets

(5,000)

(44,000)

Trust and insurance commissions and annuities income

961,000

844,000

Earnings on bank-owned life insurance

^[1]

70,000

136,000

Other

^[1]

494,000

497,000

Total noninterest income

5,366,000

6,172,000

Noninterest expense

Compensation and benefits

21,323,000

21,266,000

Office occupancy and equipment

7,361,000

7,075,000

Advertising and public relations

564,000

657,000

Information technology

3,194,000

3,272,000

Professional fees

1,356,000

1,307,000

Supplies, telephone, and postage

1,232,000

1,328,000

Amortization of intangibles

34,000

61,000

Nonperforming asset management

146,000

105,000

Operations of other real estate owned

17,000

52,000

FDIC insurance premiums

348,000

127,000

Other

2,863,000

3,391,000

Total noninterest expense

38,438,000

38,641,000

Income before income taxes

12,760,000

15,897,000

Income tax expense

3,597,000

4,225,000

Net income

$ 9,163,000

$ 11,672,000

Basic and diluted earnings per common share (in dollars per share)

$ 0.61

$ 0.75

Basic and diluted weighted average common shares outstanding (in shares)

14,951,656

15,594,883

[1]	Not within the scope of ASC 606

Note 4 - Loans Receivable - PPP activity (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Number of loans	30
Loans receivable, net of allowance for loan losses: December 31, 2020, $7,751 and December 31, 2019, $7,632	$ 1,002,578	$ 1,168,008
Paycheck Protection Program Loan Origination [Member]
Number of loans	315
Originated	$ 11,160
Paycheck Protection Program CARES Act [Member]
Number of loans	290
Loans receivable, net of allowance for loan losses: December 31, 2020, $7,751 and December 31, 2019, $7,632	$ 10,180

Note 9 - Borrowings - Advances from the FHLB (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fixed-rate advance from FHLB, due within 1 year, contractual rate	0.00%	0.00%
Fixed-rate advance from FHLB, due within 1 year, amount	$ 4,000	$ 0

Note 7 - Leases - Future Minimum Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021	$ 962
2022	1,002
2023	956
2024	501
2025	507
Thereafter	2,217
Total future minimum operating lease payments	6,145
Amounts representing interest	(1,070)
Other Liabilities [Member]
Present value of net future minimum operating lease payments	$ 5,075	$ 5,846

Note 11 - Regulatory Matters

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Regulatory Capital Requirements under Banking Regulations [Text Block]

NOTE 11– REGULATORY MATTERS

The Bank is subject to regulatory capital requirements administered by the federal banking agencies. The capital adequacy guidelines and prompt corrective action regulations, involve the quantitative measurement of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. The failure to meet minimum capital requirements can result in regulatory actions. The final rules implementing Basel Committee on Banking Supervision's capital guidelines for U.S. banks (Basel III rules) became effective in 2015. The net unrealized gain or loss on available-for-sale securities is not included in computing regulatory capital.

In addition, as a result of the legislation, the federal banking agencies developed a “Community Bank Leverage Ratio” (the ratio of a bank’s tangible equity capital to average total consolidated assets) for financial institutions with assets of less than $10 billion. A “qualifying community bank” that exceeds this ratio will be deemed to be in compliance with all other capital and leverage requirements, including the capital requirements to be considered “well capitalized” under Prompt Corrective Action statutes. The federal banking agencies may consider a financial institution’s risk profile when evaluating whether it qualifies as a community bank for purposes of the capital ratio requirement. The federal banking agencies must set the minimum capital for the new Community Bank Leverage Ratio at not less than 8% and not more than 10%. Beginning in the second quarter 2020 and until the end of the year, a banking organization that has a leverage ratio of 8% or greater and meets certain other criteria may elect to use the Community Bank Leverage Ratio framework; and qualified community banks will have until January 1, 2022, before the Community Bank Leverage Ratio requirement is re-established at greater than 9%. Pursuant to Section 4012 of the CARES Act and related interim final rules, the Community Bank Leverage Ratio will be 8% beginning in the second quarter and for the remainder of calendar year 2020, 8.5% for calendar year 2021, and 9% thereafter. A financial institution can elect to be subject to this new definition, and opt-out of this new definition, at any time. As a qualified community bank, we elected to be subject to this definition beginning the second quarter of 2020.

Prompt corrective action regulations provide five classifications: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If only adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required.

The minimum capital ratios set forth in the Regulatory Capital Plans will be increased and other minimum capital requirements will be established if and as necessary. In accordance with the Regulatory Capital Plans, the Bank will not pursue any acquisition or growth opportunity, declare any dividend or conduct any stock repurchase that would cause the Bank's total risk-based capital ratio and/or its Tier 1 leverage ratio to fall below the established minimum capital levels or the capital levels required for capital adequacy plus the capital conservation buffer (“ CCB”). The minimum CCB is 2.5%.

As of December 31, 2020, the Bank was well-capitalized, with all capital ratios exceeding the well-capitalized requirement. There are no conditions or events that management believes have changed the Bank’s prompt corrective action capitalization category.

The Bank is subject to regulatory restrictions on the amount of dividends it may declare and pay to the Company without prior regulatory approval, and to regulatory notification requirements for dividends that do not require prior regulatory approval.

The Bank's Community Bank Leverage Ratio was:

	Actual					Required for Capital Adequacy Purposes
	Amount		Ratio			Amount		Ratio
December 31, 2020
Community Bank Leverage Ratio	$	160,236		10.10	%	$	126,964		8.00	%

Actual and required capital amounts and ratios for the Bank were:

	*Actual*					*Required for Capital Adequacy Purposes*					*To be Well-Capitalized under Prompt Corrective Action Provisions*
	*Amount*		*Ratio*			*Amount*		*Ratio*			*Amount*		*Ratio*
December 31, 2019
Total capital (to risk-weighted assets)	$	170,203		16.38	%	$	83,130		8.00	%	$	103,913		10.00	%
Tier 1 (core) capital (to risk-weighted assets)		162,455		15.63			62,348		6.00			83,130		8.00
Common Tier 1 (CET1)		162,455		15.63			46,761		4.50			67,543		6.50
Tier 1 (core) capital (to adjusted average total assets)		162,455		10.89			59,666		4.00			74,583		5.00

- Definition

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.

+ References + Details

Note 3 - Securities (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

Available-for-Sale Securities	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			*Fair Value*
December 31, 2020
Certificates of deposit	$	15,117	$	—	$	—		$	15,117
Municipal securities		402		7		—			409
Mortgage-backed securities - residential		5,826		282		—			6,108
Collateralized mortgage obligations - residential		2,193		3		(1	)		2,195
	$	23,538	$	292	$	(1	)	$	23,829
December 31, 2019
Certificates of deposit	$	48,666	$	—	$	—		$	48,666
Municipal securities		505		8		—			513
Mortgage-backed securities - residential		7,727		310		—			8,037
Collateralized mortgage obligations - residential		2,986		4		(13	)		2,977
	$	59,884	$	322	$	(13	)	$	60,193

Investments Classified by Contractual Maturity Date [Table Text Block]

	*December 31, 2020*
	*Amortized Cost*		*Fair Value*
Due in one year or less	$	15,271	$	15,278
Due after one year through five years		248		248
		15,519		15,526
Mortgage-backed securities - residential		5,826		6,108
Collateralized mortgage obligations - residential		2,193		2,195
	$	23,538	$	23,829

Realized Gain (Loss) on Investments [Table Text Block]

	For the years ended December 31,
	2020		2019
Proceeds	$	—	$	3,722
Gross gains		—		295
Gross losses		—		—

Schedule of Unrealized Loss on Investments [Table Text Block]

	*Less than 12 Months*							*12 Months or More*							*Total*
	*Count*		*Fair Value*		*Unrealized Loss*			*Count*		*Fair Value*		*Unrealized Loss*			*Count*		*Fair Value*		*Unrealized Loss*
December 31, 2020
Collateralized mortgage obligations - residential		—	$	—	$	—			3	$	1,588	$	(1	)		3	$	1,588	$	(1	)

December 31, 2019
Collateralized mortgage obligations - residential		3	$	1,566	$	(10	)		1	$	937	$	(3	)		4	$	2,503	$	(13	)

Note 1 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation: The consolidated financial statements include the accounts of and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BFIN Asset Recovery Company, LLC (formerly BF Asset Recovery Corporation) (collectively, “the Company”) and have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). All significant intercompany accounts and transactions have been eliminated. The Company’s revenues, operating income, and assets are primarily from the banking industry. To supplement loan originations, the Company purchases loans. The loan portfolio is concentrated in loans that are primarily secured by real estate.

Use of Estimates: The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Although these estimates and assumptions are based on the best available information, actual information, actual results could differ from those estimates.

COVID-19: On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a global pandemic. The declaration of a global pandemic indicates that almost all public commerce and related business activities must be, to varying degrees, curtailed with the goal of decreasing the rate of new infections. The outbreak of COVID-19 has adversely impacted, and could further adversely impact, a broad range of industries in which the Company’s customers operate and impair their ability to fulfill their financial obligations to the Company. On March 3, 2020, the Federal Open Market Committee reduced the target federal funds rate by 50 basis points to 1.00% to 1.25%. This rate was further reduced to a target range of 0% to 0.25% on March 16, 2020. These reductions in interest rates and other effects of the COVID-19 outbreak may adversely affect the Company’s financial condition and results of operations. As a result of the spread of the COVID-19 coronavirus, economic uncertainties have arisen which are likely to negatively impact net interest income and noninterest income. Other financial impacts could occur though such potential impact is unknown at this time.

Subsequent events: The Company has evaluated subsequent events for potential recognition and/or disclosures through the date the Consolidated Financial Statements included in this Annual Report on Form 10-K were issued.

Interest-bearing Deposits in Other Financial Institutions: Interest-bearing deposits in other financial institutions maturing in less than 90 days are carried at cost.

Cash Flows: Cash and cash equivalents include cash, deposits with other financial institutions maturing in less than 90 days, and daily federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, borrowings, and advance payments by borrowers for taxes and insurance.

Securities: Debt securities are classified as available-for-sale when they might be sold before maturity. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold. Declines in the fair value of securities below their cost that are other-than-temporary are reflected as realized losses. In determining if losses are other-than-temporary, management considers: (1) the length of time and extent that fair value has been less than cost or adjusted cost, as applicable, (2) the financial condition and near term prospects of the issuer, and (3) whether the Company has the intent to sell the debt security or it is more likely than not that the Company will be required to sell the debt security before the anticipated recovery.

Securities also include investments in certificates of deposit with maturities of greater than 90 days. These certificates of deposit are placed with insured institutions for varying maturities and amounts that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”).

Equity Securities: Equity securities are accounted for in accordance with ASC 321-10 Investments - Equity Securities. Our equity securities may be classified into two categories and accounted for as follows:

•

Equity securities with a readily determinable fair value are reported at fair value, with unrealized gains and losses included in earnings. Any dividends received are recorded in interest income.

•

Equity securities without a readily determinable fair value are reported at their cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer and their impact on fair value. Any dividends received are recorded in interest income.

The fair value of equity investments with readily determinable fair values is primarily obtained from third-party pricing services. For equity investments without readily determinable fair values, when an orderly transaction for the identical or similar investment of the same issuer is identified, we use the valuation techniques permitted under ASC 820 Fair Value to evaluate the observed transaction(s) and adjust the fair value of the equity investment.

ASC 321-10 also provides guidance related to accounting for impairment of equity securities without readily determinable fair values. The qualitative assessment to determine whether impairment exists requires the use of our judgment in certain circumstances. If, after completing the qualitative assessment we conclude an equity investment without a readily determinable fair value is impaired, a loss for the difference between the equity investment’s carrying value and its fair value may be recognized as a reduction to noninterest income in the Consolidated Statements of Operations.

Federal Home Loan Bank (“FHLB”) Stock: The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.

Federal Reserve Bank (“FRB”) Stock: The Bank is a member of its regional Federal Reserve Bank. FRB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.

Loans and Loan Income: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of the allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan costs. Interest income on loans is recognized in income over the term of the loan based on the amount of principal outstanding.

Premiums and discounts associated with loans purchased are amortized over the contractual term of the loan using the level–yield method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

Interest income is reported on the interest method. Interest income is generally discontinued at the earlier of when a loan is 90 days past due or when we do not expect to receive full payment of interest or principal. Past due status is based on the contractual terms of the loan.

All interest accrued but not received for loans that have been placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash–basis or cost–recovery method until qualifying for return to accrual status. Once a loan is placed on nonaccrual status, the borrower must generally demonstrate at least six months of payment performance before the loan is eligible to return to accrual status. Generally, the Company utilizes the “90 days delinquent, still accruing” category of loan classification when: (1) the loan is repaid in full shortly after the period end date; (2) the loan is well secured and there are no asserted or pending legal barriers to its collection; or (3) the borrower has remitted all scheduled payments and is otherwise in substantial compliance with the terms of the loan, but the processing of payments actually received or the renewal of a loan has not occurred for administrative reasons.

Impaired Loans: Impaired loans principally consist of nonaccrual loans and troubled debt restructurings (“TDRs”). A loan is considered impaired when, based on current information and events, management believes that it is probable that we will be unable to collect all amounts due (both principal and interest) according to the original contractual terms of the loan agreement. Once a loan is determined to be impaired, the amount of impairment is measured based on the loan's observable fair value, the fair value of the underlying collateral less selling costs if the loan is collateral-dependent, or the present value of expected future cash flows discounted at the loan's effective interest rate. If the measurement of the impaired loan is less than the recorded investment in the loan, the bank's allowance for the impaired collateral dependent loan under ASC 310-10-35 is based on fair value (less costs to sell), but the charge-off (the confirmed “loss”) is based on the appraised value. The remaining recorded investment in the loan after the charge-off will have a loan loss allowance for the amount by which the estimated fair value of the collateral (less costs to sell) is less than its appraised value.

Impaired loans with specific reserves are reviewed quarterly for any changes that would affect the specific reserve. Any impaired loan for which a determination has been made that the economic value is permanently reduced is charged-off against the allowance for loan losses to reflect its current economic value in the period in which the determination has been made.

At the time a collateral-dependent loan is initially determined to be impaired, we review the existing collateral appraisal. If the most recent appraisal is greater than a year old, a new appraisal is obtained on the underlying collateral. Appraisals are updated with a new independent appraisal at least annually and are formally reviewed by our internal appraisal department upon receipt of a new appraisal. All impaired loans and their related reserves are reviewed and updated each quarter.

Troubled Debt Restructurings: A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that leads to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses.

In determining whether a debtor is experiencing financial difficulties, the Company considers if the debtor is in payment default or would be in payment default in the foreseeable future without the modification, the debtor declared or is in the process of declaring bankruptcy, there is substantial doubt that the debtor will continue as a going concern, the debtor has securities that have been or are in the process of being delisted, the debtor's entity-specific projected cash flows will not be sufficient to service any of its debt, or the debtor cannot obtain funds from sources other than the existing creditors at a market rate for debt with similar risk characteristics.

In determining whether the Company has granted a concession, the Company assesses, if it does not expect to collect all amounts due, whether the current value of the collateral will satisfy the amounts owed, whether additional collateral or guarantees from the debtor will serve as adequate compensation for other terms of the restructuring, and whether the debtor otherwise has access to funds at a market rate for debt with similar risk characteristics.

Periodically, the Company will restructure a note into two separate notes (A/B structure), charging off the entire B portion of the note. The A note is structured with appropriate loan-to-value and cash flow coverage ratios that provide for a high likelihood of repayment. The A note is classified as a nonperforming note until the borrower has displayed a historical payment performance for a reasonable time prior to and subsequent to the restructuring. A period of sustained repayment for at least six months generally is required to return the note to accrual status provided that management has determined that the performance is reasonably expected to continue. The A note will be classified as a restructured note (either performing or nonperforming) through the calendar year of the restructuring that the historical payment performance has been established.

Allowance for Loan Losses: The Company establishes provisions for loan losses, which are charged to the Company’s results of operations to maintain the allowance for loan losses to absorb probable incurred credit losses in the loan portfolio. In determining the level of the allowance for loan losses, the Company considers past and current loss experience, trends in classified loans, evaluations of real estate collateral, current economic conditions, volume and type of lending, adverse situations that may affect a borrower’s ability to repay a loan and the levels of nonperforming and other classified loans. The amount of the allowance is based on estimates and the ultimate losses may vary from the estimates as more information becomes available or events change.

The Company provides for loan losses based on the allowance method. Accordingly, all loan losses are charged to the related allowance and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors that, in our judgment, deserve current recognition in estimating probable incurred credit losses. The Company reviews the loan portfolio on an ongoing basis and makes provisions for loan losses on a quarterly basis to maintain the allowance for loan losses in accordance with US GAAP. The allowance for loan losses consists of two components:

•

specific allowances established for any impaired residential non-owner occupied mortgage, multi-family mortgage, nonresidential real estate, construction and land, commercial, and commercial lease loans for which the recorded investment in the loan exceeds the measured value of the loan; and

•

general allowances for loan losses for each loan class based on historical loan loss experience; and adjustments to historical loss experience (general allowances), maintained to cover uncertainties that affect our estimate of probable incurred credit losses for each loan class.

The adjustments to historical loss experience are based on our evaluation of several factors, including levels of, and trends in, past due and classified loans; levels of, and trends in, charge–offs and recoveries; trends in volume and terms of loans, including any credit concentrations in the loan portfolio; experience and ability of lending management and other relevant staff; and national and local economic trends and conditions.

The Company evaluates the allowance for loan losses based upon the combined total of the specific and general components. Generally, when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable incurred credit losses than would be the case without the increase. Conversely, when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology generally results in a lower dollar amount of estimated probable losses than would be the case without the decrease.

The loss ratio used in computing the required general loan loss reserve allowance for a given class of loan consists of (i) the actual loss ratio (measured on a weighted, rolling twelve-quarter basis), (ii) the change in credit quality within the specific loan class during the period, (iii) the actual inherent risk factor assigned to the specific loan class and (iv) the actual concentration of risk factor assigned to the specific loan class (collectively, the “Specific Loan Class Risk Factors”). The Specific Loan Class Risk Factors are weighted equally in the calculation. In addition, two additional quantitative factors, the National Economic risk factor and the Local Economic risk factor, are also components of the computation but are given different weightings in their computation due to their relative applicability to the specific loan class in the context of the effect of national and local economic conditions on their risk profile and performance.

Mortgage Servicing Rights: Mortgage servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value and gains on sales of loans are recorded in the statement of operations. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with amortization and impairment of servicing assets on the statement of operations. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.

Servicing fee income that is reported on the statement of operations as loan servicing fees is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not material.

First mortgage loans serviced for others are not included in the accompanying consolidated statements of financial condition. The unpaid principal balances of these loans were $48.4 million and $63.4 million at December 31, 2020 and 2019, respectively. Custodial escrow balances maintained in connection with the foregoing loan servicing activities were $1.9 million and $2.2 million at December 31, 2020 and 2019, respectively. Capitalized mortgage servicing rights are included in other assets in the accompanying consolidated statements of financial condition. Servicing rights were $257,000 and $335,000 at December 31, 2020 and 2019, respectively, with no valuation allowance at December 31, 2020 and 2019.

Other Real Estate Owned ("OREO"): Foreclosed assets are initially recorded at fair value less cost to sell when acquired, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when the legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. These assets are subsequently accounted for at a lower of cost or fair value less estimated cost to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating expenses, gains and losses on disposition, and changes in the valuation allowance are reported in noninterest expense as operations of other real estate owned.

Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on the straight-line method over the estimated useful lives of the assets. Useful lives are estimated to be 25 to 40 years for buildings and improvements that extend the life of the original building, ten to 20 years for routine building improvements, five to 15 years for furniture and equipment, two to five years for computer hardware and software and no greater than four years on automobiles. The cost of maintenance and repairs is charged to expense as incurred and significant repairs are capitalized.

Lease Accounting: The Company adopted FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”), including the adoption of the practical expedients, effective January 1, 2019. Leases (Topic 842) establishes a right of use model that requires a lessee to record a right of use (“ROU”) asset and a lease liability for all leases with terms longer than 12 months. The Company enters into operating leases in the normal course of business primarily for several of its branch and corporate locations. At adoption, January 1, 2019, the Company recorded assets and liabilities of $6.7 million as a result of recording additional lease contracts where the Company is lessee. The Company did not restate comparative periods.

Currently the Company is obligated under four non-cancellable operating lease agreements for three branch properties and its corporate office. The leases have varying terms, the longest of which will end in 2032. The Company's lease agreements include options to renew at the Company's discretion. The extensions are not reasonably certain to be exercised; therefore, they were not considered in the calculation of the ROU asset and lease liability. The Company has also elected not to recognize leases with original lease terms of 12 months or less (short-term leases) in the Company's Statement of Financial Condition. The ROU assets are included in other assets and the lease obligations are included in other liabilities in the accompanying consolidated statements of financial condition.

Other Intangible Assets: Intangible assets acquired in a purchase business combination with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets (“CDI”), are recognized at the time of acquisition based on valuations prepared by independent third parties or other estimates of fair value. In preparing such valuations, variables such as deposit servicing costs, attrition rates, and market discount rates are considered. CDI assets are amortized to expense over their useful lives. CDI were $7,000 and $41,000 at December 31, 2020 and 2019, respectively, and are included in other assets in the accompanying consolidated statements of financial condition.

Bank-Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. The Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.

Long-Term Assets: Premises and equipment, right of use assets, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value.

Loan Commitments and Related Financial Instruments: Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.

Income Taxes: Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Under US GAAP, a deferred tax asset valuation allowance is required to be recognized if it is “more likely than not” that the deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future taxable income, applicable tax planning strategies, and assessments of current and future economic and business conditions. The Company considers both positive and negative evidence regarding the ultimate realizability of our deferred tax assets. Examples of positive evidence may include the existence, if any, of taxes paid in available carry-back years and the likelihood that taxable income will be generated in future periods. Examples of negative evidence may include a cumulative loss in the current year and prior two years and negative general business and economic trends. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date.

This analysis is updated quarterly and adjusted as necessary. At December 31, 2020, the Company had a net deferred tax asset of $2.7 million, net of a $200,000 valuation allowance against the Illinois net operating loss deduction carryforward. The net deferred tax asset was $3.9 million at December 31, 2019.

A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, presuming that a tax examination will occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely to be realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded.

Retirement Plans: Employee 401(k) and profit sharing plan expense is the amount of matching contributions and any annual discretionary contribution made at the discretion of the Company’s Board of Directors.

Earnings per Common Share: Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is net income divided by the weighted average number of common shares outstanding during the period plus the dilutive effect of potential common shares.

Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the financial statements as of December 31, 2020.

Restrictions on Cash: The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank, based on a percentage of deposits. As of December 31, 2020 and 2019, the Bank has met the requirements.

The nature of the Company’s business requires that it maintain amounts with banks and federal funds sold which, at times, may exceed federally insured limits. Management monitors these correspondent relationships and the Company has not experienced any losses in such accounts.

Fair Values of Financial Instruments: Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.

Comprehensive Income: Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities, net of tax, which is also recognized as separate components of stockholders’ equity.

Transfers of Financial Assets: Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Operating Segments: While management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

Reclassifications: Certain reclassifications have been made in the prior year’s financial statements to conform to the current year’s presentation. Reclassifications had no effect on prior year net income or stockholders’ equity.

Newly Issued Not Yet Effective Accounting Standards

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). These amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For SEC filers who are smaller reporting companies, ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022.

Note 3 - Securities

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 3 – SECURITIES

The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows:

Available-for-Sale Securities	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			*Fair Value*
December 31, 2020
Certificates of deposit	$	15,117	$	—	$	—		$	15,117
Municipal securities		402		7		—			409
Mortgage-backed securities - residential		5,826		282		—			6,108
Collateralized mortgage obligations - residential		2,193		3		(1	)		2,195
	$	23,538	$	292	$	(1	)	$	23,829
December 31, 2019
Certificates of deposit	$	48,666	$	—	$	—		$	48,666
Municipal securities		505		8		—			513
Mortgage-backed securities - residential		7,727		310		—			8,037
Collateralized mortgage obligations - residential		2,986		4		(13	)		2,977
	$	59,884	$	322	$	(13	)	$	60,193

Mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities and agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support.

The amortized cost and fair values of securities available-for-sale at December 31, 2020 by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	*December 31, 2020*
	*Amortized Cost*		*Fair Value*
Due in one year or less	$	15,271	$	15,278
Due after one year through five years		248		248
		15,519		15,526
Mortgage-backed securities - residential		5,826		6,108
Collateralized mortgage obligations - residential		2,193		2,195
	$	23,538	$	23,829

Investment securities available-for-sale with carrying amounts of $1.2 million and $2.0 million at December 31, 2020 and 2019, respectively, were pledged as collateral on customer repurchase agreements and for other purposes as required or permitted by law.

Sales of equity securities were as follows:

	For the years ended December 31,
	2020		2019
Proceeds	$	—	$	3,722
Gross gains		—		295
Gross losses		—		—

Securities available-for-sale with unrealized losses at December 31, 2020 and 2019 not recognized in income are as follows:

	*Less than 12 Months*							*12 Months or More*							*Total*
	*Count*		*Fair Value*		*Unrealized Loss*			*Count*		*Fair Value*		*Unrealized Loss*			*Count*		*Fair Value*		*Unrealized Loss*
December 31, 2020
Collateralized mortgage obligations - residential		—	$	—	$	—			3	$	1,588	$	(1	)		3	$	1,588	$	(1	)

December 31, 2019
Collateralized mortgage obligations - residential		3	$	1,566	$	(10	)		1	$	937	$	(3	)		4	$	2,503	$	(13	)

The Company evaluates marketable investment securities with significant declines in fair value on a quarterly basis to determine whether they should be considered other-than-temporarily impaired under current accounting guidance, which generally provides that if a marketable security is in an unrealized loss position, whether due to general market conditions or industry or issuer-specific factors, the holder of the securities must assess whether the impairment is other-than-temporary.

Certain collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at December 31, 2020, but the unrealized loss was not considered significant under the Company’s impairment testing methodology. In addition, the Company does not intend to sell these securities, and it is not likely that the Company will be required to sell the securities before their anticipated recovery occurs.

The Bank sold 25,702 shares of Visa Class B common stock in the first quarter of 2019 and recorded a gain of $295,000. The Company had no marketable securities as of December 31, 2020.

Note 4 - Loans Receivable - COVID Loan Forbearance Program (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Number of loans	30
Principal balance	$ 10,337
Principal Amount Deferred	$ 53
Multi-family Mortgage [Member] \| COVID 19 [Member] \| Small Investment Property Forbearance Agreement [Member]
Number of loans	8
Principal balance	$ 3,092
Principal Amount Deferred	$ 17
Nonresidential Real Estate [Member] \| COVID 19 [Member] \| Small Investment Property Forbearance Agreement [Member]
Number of loans	10
Principal balance	$ 3,363
Principal Amount Deferred	$ 22
Nonresidential Real Estate [Member] \| COVID 19 [Member] \| Standard Forbearance Agreement [Member]
Number of loans	2
Principal balance	$ 2,480
Principal Amount Deferred	$ 6
One-to-Four Family Residential Real Estate [Member] \| COVID 19 [Member] \| Standard Forbearance Agreement [Member]
Number of loans	10
Principal Amount Deferred	$ 8
One To Four Family Residential Real Estate Loans [Member] \| COVID 19 [Member] \| Standard Forbearance Agreement [Member]
Principal balance	$ 1,402

Note 15 - Revenue from Contracts with Customers - Noninterest Income (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Deposit service charges and fees

$ 3,196

$ 3,844

Loan servicing fees

^[1]

552

451

Mortgage brokerage and banking fees

^[1]

149

Gain on sale of equity securities

^[1]

295

Loss on disposal of other assets

(5)

(44)

Earnings on bank-owned life insurance

^[1]

136

Other

^[1]

494

497

Total noninterest income

$ 1,541

$ 1,264

$ 1,163

$ 1,398

$ 1,648

$ 1,474

$ 1,426

$ 1,624

5,366

6,172

Deposit Account [Member]

Deposit service charges and fees

3,196

3,844

Bank Servicing [Member]

Deposit service charges and fees

$ 961

$ 844

[1]	Not within the scope of ASC 606

Note 3 - Securities (Details Textual) - USD ($)

3 Months Ended

12 Months Ended

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value, Total

$ 1,200,000

$ 2,000,000.0

Equity Securities, FV-NI, Gain (Loss), Total

^[1]

$ 0

$ 295,000

Visa Inc Class B Common Stock [Member]

Equity Securities without Readily Determinable Fair Value, Shares Sold (in shares)

25,702

Equity Securities, FV-NI, Gain (Loss), Total

$ 295,000

[1]	Not within the scope of ASC 606

Note 4 - Loans Receivable (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	*December 31,*
	*2020*			*2019*
One-to-four family residential real estate	$	41,691		$	55,750
Multi-family mortgage		452,241			563,750
Nonresidential real estate		108,658			134,674
Construction and land		499			—
Commercial loans and leases		405,057			418,343
Consumer		1,812			2,211
		1,009,958			1,174,728
Net deferred loan origination costs		371			912
Allowance for loan losses		(7,751	)		(7,632	)
Loans, net	$	1,002,578		$	1,168,008

Financing Receivable and Allowance for Loan Losses Based on Impairment Method [Table Text Block]

	*Allowance for loan losses*						*Loan Balances*
	*Individually evaluated for impairment*		*Collectively evaluated for impairment*		*Total*		*Individually evaluated for impairment*		*Collectively evaluated for impairment*		*Total*
December 31, 2020
One-to-four family residential real estate	$	—	$	518	$	518	$	1,718	$	39,973	$	41,691
Multi-family mortgage		—		4,062		4,062		520		451,721		452,241
Nonresidential real estate		28		1,541		1,569		296		108,362		108,658
Construction and land		—		12		12		—		499		499
Commercial loans and leases		—		1,536		1,536		—		405,057		405,057
Consumer		—		54		54		—		1,812		1,812
	$	28	$	7,723	$	7,751	$	2,534	$	1,007,424		1,009,958
Net deferred loan origination costs												371
Allowance for loan losses												(7,751	)
Loans, net											$	1,002,578

	*Allowance for loan losses*						*Loan Balances*
	*Individually evaluated for impairment*		*Collectively evaluated for impairment*		*Total*		*Individually evaluated for impairment*		*Collectively evaluated for impairment*		*Total*
December 31, 2019
One-to-four family residential real estate	$	—	$	675	$	675	$	1,835	$	53,915	$	55,750
Multi-family mortgage		—		3,676		3,676		620		563,130		563,750
Nonresidential real estate		—		1,176		1,176		288		134,386		134,674
Commercial loans and leases		—		2,065		2,065		—		418,343		418,343
Consumer		—		40		40		—		2,211		2,211
	$	—	$	7,632	$	7,632	$	2,743	$	1,171,985		1,174,728
Net deferred loan origination costs												912
Allowance for loan losses												(7,632	)
Loans, net											$	1,168,008

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	*Beginning balance*		*Provision for (recovery of) loan losses*			*Loans charged off*			*Recoveries*		*Ending balance*
December 31, 2020
One-to-four family residential real estate	$	675	$	(185	)	$	(9	)	$	37	$	518
Multi-family mortgage		3,676		292			—			94		4,062
Nonresidential real estate		1,176		393			—			—		1,569
Construction and land		—		12			—			—		12
Commercial loans and leases		2,065		(533	)		—			4		1,536
Consumer		40		76			(62	)		—		54
	$	7,632	$	55		$	(71	)	$	135	$	7,751

December 31, 2019
One-to-four family residential real estate	$	699	$	123		$	(222	)	$	75	$	675
Multi-family mortgage		3,991		(346	)		—			31		3,676
Nonresidential real estate		1,476		(217	)		(83	)		—		1,176
Construction and land		4		(4	)		—			—		—
Commercial loans and leases		2,272		4,226			(4,443	)		10		2,065
Consumer		28		43			(31	)		—		40
	$	8,470	$	3,825		$	(4,779	)	$	116	$	7,632

Impaired Financing Receivables [Table Text Block]

	*Loan Balance*		*Recorded Investment*		*Partial Charge- off*		*Allowance for Loan Losses Allocated*		*Average Investment in Impaired Loans*		*Interest Income Recognized*
December 31, 2020
With no related allowance recorded
One-to-four family residential real estate	$	2,069	$	1,718	$	363	$	—	$	1,782	$	42
Multi-family mortgage - Illinois		520		520		—		—		594		31
		2,589		2,238		363		—		2,376		73

With an allowance recorded - nonresidential real estate		280		296		—		28		289		—
	$	2,869	$	2,534	$	363	$	28	$	2,665	$	73


December 31, 2019
With no related allowance recorded
One-to-four family residential real estate	$	2,168	$	1,835	$	339	$	—	$	2,208	$	51
Multi-family mortgage - Illinois		620		620		—		—		637		37
Nonresidential real estate		280		288		—		—		589		2
	$	3,068	$	2,743	$	339	$	—	$	3,434	$	90

Financing Receivable, Nonaccrual [Table Text Block]

	*Loan Balance*		*Recorded Investment*		*Loans Past Due Over 90 Days, still accruing*
December 31, 2020
One-to-four family residential real estate	$	946	$	925	$	—
Nonresidential real estate		280		296		—
	$	1,226	$	1,221	$	—
December 31, 2019
One-to-four family residential real estate	$	598	$	512	$	—
Nonresidential real estate		280		288		—
Commercial loans and leases		47		—		47
	$	925	$	800	$	47

Financing Receivable, Past Due [Table Text Block]

	*30-59 Days Past Due*		*60-89 Days Past Due*		*90 Days or Greater Past Due*		*Total Past Due*		*Loans Not Past Due*		*Total*
December 31, 2020
One-to-four family residential real estate loans:
Owner occupied	$	252	$	211	$	834	$	1,297	$	32,078	$	33,375
Non-owner occupied		3		132		91		226		8,090		8,316
Multi-family mortgage:
Illinois		86		—		—		86		221,943		222,029
Other		—		—		—		—		230,212		230,212
Nonresidential real estate		—		—		296		296		108,362		108,658
Construction and land		—		—		—		—		499		499
Commercial loans and leases:
Commercial		4,886		—		—		4,886		72,809		77,695
Asset-based		—		—		—		—		1,740		1,740
Equipment finance:
Government		2,468		—		—		2,468		100,272		102,740
Investment-rated		618		225		—		843		86,417		87,260
Other		853		2,487		—		3,340		132,282		135,622
Consumer		6		5		—		11		1,801		1,812
	$	9,172	$	3,060	$	1,221	$	13,453	$	996,505	$	1,009,958

	*30-59 Days Past Due*		*60-89 Days Past Due*		*90 Days or Greater Past Due*		*Total Past Due*		*Loans Not Past Due*		*Total*
December 31, 2019
One-to-four family residential real estate loans:
Owner occupied	$	777	$	340	$	507	$	1,624	$	43,365	$	44,989
Non-owner occupied		280		15		—		295		10,466		10,761
Multi-family mortgage:
Illinois		981		302		—		1,283		246,680		247,963
Other		—		—		—		—		315,787		315,787
Nonresidential real estate		—		—		288		288		134,386		134,674
Commercial loans and leases:
Commercial		—		—		—		—		133,976		133,976
Asset-based		—		—		—		—		11,738		11,738
Equipment finance:
Government		—		—		—		—		33,555		33,555
Investment-rated		826		—		47		873		101,015		101,888
Other		543		136		—		679		136,507		137,186
Consumer		24		37		—		61		2,150		2,211
	$	3,431	$	830	$	842	$	5,103	$	1,169,625	$	1,174,728

Financing Receivable Credit Quality Indicators [Table Text Block]

	*Pass*		*Special Mention*		*Substandard*		*Nonaccrual*		*Total*
December 31, 2020
One-to-four family residential real estate loans:
Owner occupied	$	32,089	$	-	$	452	$	834	$	33,375
Non-owner occupied		8,164		27		34		91		8,316
Multi-family mortgage:
Illinois		222,029		—		—		—		222,029
Other		230,212		—		—		—		230,212
Nonresidential real estate		106,280		1,998		84		296		108,658
Construction and land		499		—		—		—		499
Commercial loans and leases:
Commercial		72,809		—		4,886		—		77,695
Asset-based		1,740		—		—		—		1,740
Equipment finance:
Government		102,740		—		—		—		102,740
Investment-rated		87,260		—		—		—		87,260
Other		134,617		—		1,005		—		135,622
Consumer		1,802		5		5		—		1,812
	$	1,000,241	$	2,030	$	6,466	$	1,221	$	1,009,958

	*Pass*		*Special Mention*		*Substandard*		*Nonaccrual*		*Total*
December 31, 2019
One-to-four family residential real estate loans:
Owner occupied	$	43,908	$	36	$	533	$	512	$	44,989
Non-owner occupied		10,696		30		35		—		10,761
Multi-family mortgage:
Illinois		247,757		—		206		—		247,963
Other		315,787		—		—		—		315,787
Nonresidential real estate		134,134		162		90		288		134,674
Commercial loans and leases:
Commercial		125,630		8,346		—		—		133,976
Asset-based		11,738		—		—		—		11,738
Equipment finance:
Government		33,555		—		—		—		33,555
Investment-rated		101,381		507		—		—		101,888
Other		136,289		761		136		—		137,186
Consumer		2,153		5		53		—		2,211
	$	1,163,028	$	9,847	$	1,053	$	800	$	1,174,728

COVID 19 [Member]

Notes Tables

Schedule of Unusual or Infrequent Items, or Both [Table Text Block]

			*Principal*		*Remaining Amounts*
	*Number of loans*		*Balance*		*Deferred*

Small Investment Property COVID-19 Qualified Limited Forbearance Agreement
Multi-family mortgage		8	$	3,092	$	17
Nonresidential real estate		10		3,363		22
Apartment and Commercial Real Estate COVID-19 Qualified Limited Forbearance Agreement
Nonresidential real estate		2		2,480		6
One-to-four family residential real estate		10		1,402		8

		30	$	10,337	$	53

Paycheck Protection Program CARES Act [Member]

Notes Tables

Schedule of Unusual or Infrequent Items, or Both [Table Text Block]

	*Number of loans*		*Originated*		*Balance*
For the Year Ended December 31, 2020
Paycheck protection program loan originations		315	$	11,160

December 31, 2020
Paycheck protection program loans		290			$	10,180

Note 4 - Loans Receivable - Aging of the Recorded Investment of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Past Due	$ 13,453	$ 5,103
Loans Not Past Due	996,505	1,169,625
Total Loans	1,009,958	1,174,728
Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	9,172	3,431
Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	3,060	830
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	1,221	842
Construction and Land Loans [Member]
Past Due	0
Loans Not Past Due	499
Total Loans	499
Construction and Land Loans [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	0
Construction and Land Loans [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	0
Construction and Land Loans [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	0
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Owner Occupied [Member]
Past Due	1,297	1,624
Loans Not Past Due	32,078	43,365
Total Loans	33,375	44,989
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Owner Occupied [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	252	777
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Owner Occupied [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	211	340
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Owner Occupied [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	834	507
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Non-owner Occupied [Member]
Past Due	226	295
Loans Not Past Due	8,090	10,466
Total Loans	8,316	10,761
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	3	280
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	132	15
Real Estate Portfolio [Member] \| One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	91	0
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| ILLINOIS
Past Due	86	1,283
Loans Not Past Due	221,943	246,680
Total Loans	222,029	247,963
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| Other [Member]
Past Due	0	0
Loans Not Past Due	230,212	315,787
Total Loans	230,212	315,787
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| Financial Asset, 30 to 59 Days Past Due [Member] \| ILLINOIS
Past Due	86	981
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| Financial Asset, 30 to 59 Days Past Due [Member] \| Other [Member]
Past Due	0	0
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| Financial Asset, 60 to 89 Days Past Due [Member] \| ILLINOIS
Past Due	0	302
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| Financial Asset, 60 to 89 Days Past Due [Member] \| Other [Member]
Past Due	0	0
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member] \| ILLINOIS
Past Due	0	0
Real Estate Portfolio [Member] \| Multi-family Mortgage [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member] \| Other [Member]
Past Due	0	0
Real Estate Portfolio [Member] \| Nonresidential Real Estate [Member]
Past Due	296	288
Loans Not Past Due	108,362	134,386
Total Loans	108,658	134,674
Real Estate Portfolio [Member] \| Nonresidential Real Estate [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	0	0
Real Estate Portfolio [Member] \| Nonresidential Real Estate [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	0	0
Real Estate Portfolio [Member] \| Nonresidential Real Estate [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	296	288
Commercial Portfolio Segment [Member] \| Commercial Loans [Member]
Past Due		0
Loans Not Past Due		133,976
Total Loans		133,976
Commercial Portfolio Segment [Member] \| Commercial Lines and Loans for Operations [Member]
Past Due	4,886
Loans Not Past Due	72,809
Total Loans	77,695
Commercial Portfolio Segment [Member] \| Commercial Lines and Loans for Operations [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	4,886
Commercial Portfolio Segment [Member] \| Commercial Lines and Loans for Operations [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	0
Commercial Portfolio Segment [Member] \| Commercial Lines and Loans for Operations [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	0
Commercial Portfolio Segment [Member] \| Asset-based [Member]
Past Due	0	0
Loans Not Past Due	1,740	11,738
Total Loans	1,740	11,738
Commercial Portfolio Segment [Member] \| Asset-based [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	0	0
Commercial Portfolio Segment [Member] \| Asset-based [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	0	0
Commercial Portfolio Segment [Member] \| Asset-based [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	0	0
Finance Leases Portfolio Segment [Member] \| Equipment Finance Leases, Government [Member]
Past Due	2,468	0
Loans Not Past Due	100,272	33,555
Total Loans	102,740	33,555
Finance Leases Portfolio Segment [Member] \| Equipment Finance Leases, Government [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	2,468	0
Finance Leases Portfolio Segment [Member] \| Equipment Finance Leases, Government [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	0	0
Finance Leases Portfolio Segment [Member] \| Equipment Finance Leases, Government [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	0	0
Finance Leases Portfolio Segment [Member] \| Investment Rated Commercial Leases [Member]
Past Due	843	873
Loans Not Past Due	86,417	101,015
Total Loans	87,260	101,888
Finance Leases Portfolio Segment [Member] \| Investment Rated Commercial Leases [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	618	826
Finance Leases Portfolio Segment [Member] \| Investment Rated Commercial Leases [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	225	0
Finance Leases Portfolio Segment [Member] \| Investment Rated Commercial Leases [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	0	47
Finance Leases Portfolio Segment [Member] \| Other [Member]
Past Due	3,340	679
Loans Not Past Due	132,282	136,507
Total Loans	135,622	137,186
Finance Leases Portfolio Segment [Member] \| Other [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	853	543
Finance Leases Portfolio Segment [Member] \| Other [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	2,487	136
Finance Leases Portfolio Segment [Member] \| Other [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	0	0
Consumer Portfolio Segment [Member]
Past Due	11	61
Loans Not Past Due	1,801	2,150
Total Loans	1,812	2,211
Consumer Portfolio Segment [Member] \| Financial Asset, 30 to 59 Days Past Due [Member]
Past Due	6	24
Consumer Portfolio Segment [Member] \| Financial Asset, 60 to 89 Days Past Due [Member]
Past Due	5	37
Consumer Portfolio Segment [Member] \| Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past Due	$ 0	$ 0

Note 2 - Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*For the years ended December 31,*
	*2020*		*2019*
Net income available to common stockholders	$	9,163	$	11,672
Basic and diluted weighted average common shares outstanding		14,951,656		15,594,883
Basic and diluted earnings per common share	$	0.61	$	0.75

Note 17 - Selected Quarterly Financial Data (Unaudited) (Details Textual) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	$ 2,445,000	$ 1,948,000	$ 2,352,000	$ 2,418,000	$ 3,390,000	$ 3,924,000	$ 807,000	$ 3,551,000	$ 9,163,000	$ 11,672,000
Earnings Per Share, Basic and Diluted, Total (in dollars per share)	$ 0.17	$ 0.13	$ 0.16	$ 0.16	$ 0.22	$ 0.26	$ 0.05	$ 0.22	$ 0.61	$ 0.75
Interest Income (Expense), Net, Total	$ 11,596,000	$ 10,997,000	$ 11,325,000	$ 11,969,000	$ 12,627,000	$ 13,242,000	$ 13,103,000	$ 13,219,000	$ 45,887,000	$ 52,191,000
Noninterest Income, Net Recovery of Nonperforming Loans Expenses					$ 24,000
Interest and Fee Income, Loans and Leases, Total	605,000								$ 50,467,000	$ 60,568,000
Fee Income, Commercial Credit Facilities	255,000
Fee Income, Paycheck Protection Program	$ 162,000

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Consolidated Statements of Changes In Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2018	$ 165	$ 130,547	$ 56,167	$ 271	$ 187,150
Net income	0	0	11,672	0	11,672
Other comprehensive loss, net of tax effect	0	0	0	(45)	(45)
Repurchase and retirement of common stock	(12)	(18,127)	0	0	(18,139)
Cash dividends declared on common stock	0	0	(6,266)	0	(6,266)
Balance at Dec. 31, 2019	153	112,420	61,573	226	174,372
Net income	0	0	9,163	0	9,163
Other comprehensive loss, net of tax effect	0	0	0	(13)	(13)
Repurchase and retirement of common stock	(5)	(4,605)	0	0	(4,610)
Cash dividends declared on common stock	0	0	(5,982)	0	(5,982)
Balance at Dec. 31, 2020	$ 148	$ 107,815	$ 64,754	$ 213	$ 172,930

- Definition

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

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

- Definition

+ References + Details

Note 16 - Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Condensed Balance Sheet [Table Text Block]

	*December 31,*
	*2020*		*2019*
Assets
Cash in subsidiary	$	10,996	$	6,864
Investment in subsidiary		161,678		164,847
Deferred tax asset		393		558
Other assets		658		2,115
	$	173,725	$	174,384
Liabilities and Stockholders' Equity
Accrued expenses and other liabilities	$	795	$	12
Total stockholders’ equity		172,930		174,372
	$	173,725	$	174,384

Condensed Income Statement [Table Text Block]

	*For the years ended December 31,*
	*2020*			*2019*
Dividends from subsidiary	$	13,713		$	21,200
Other expense		1,625			1,600
Income before income tax and undistributed subsidiary excess distributions		12,088			19,600
Income tax benefit		(231	)		(433	)
Income before equity in undistributed subsidiary excess distributions		12,319			20,033
Equity in undistributed subsidiary excess distributions		(3,156	)		(8,361	)
Net income	$	9,163		$	11,672

Condensed Cash Flow Statement [Table Text Block]

	*For the years ended December 31,*
	*2020*			*2019*
Cash flows from operating activities
Net income	$	9,163		$	11,672
Adjustments:
Equity in undistributed subsidiary excess distributions		3,156			8,361
Change in other assets		1,622			2,643
Change in accrued expenses and other liabilities		783			(2,634	)
Net cash from operating activities		14,724			20,042
Cash flows from financing activities
Repurchase and retirement of common stock		(4,610	)		(18,139	)
Cash dividends paid on common stock		(5,982	)		(6,266	)
Net cash used in financing activities		(10,592	)		(24,405	)
Net change in cash in subsidiary		4,132			(4,363	)
Beginning cash in subsidiary		6,864			11,227
Ending cash in subsidiary	$	10,996		$	6,864

Note 7 - Leases (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Assets and Liabilities, Lessee [Table Text Block]

	Statement of Financial Condition Location	*December 31, 2020*			*December 31, 2019*
Operating Lease Right of Use Asset:
Gross carrying amount		$	6,694		$	—
New lease obligation			111			6,694
Accumulated amortization			(1,730	)		(848	)
Net recorded value	Other assets	$	5,075		$	5,846

Operating Lease Liabilities:
Right of use lease obligations	Other liabilities	$	5,075		$	5,846

Lease, Cost [Table Text Block]

	For the year ended December 31, 2020			For the year ended December 31, 2019
Lease cost:
Operating lease cost	$	882		$	848
Short-term lease cost		152			112
Sublease income		(74	)		(51	)
Total lease cost	$	960		$	909

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	948		$	901

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Twelve months ended December 31,
2021	$	962
2022		1,002
2023		956
2024		501
2025		507
Thereafter		2,217
Total future minimum operating lease payments		6,145
Amounts representing interest		(1,070	)
Present value of net future minimum operating lease payments	$	5,075

Note 13 - Loan Commitments and Other Off-balance-sheet Activities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Commitments to Extend Credit [Member]
Notional Or Contractual Credit Extension Commitments	$ 31,131	$ 19,737
Standby Letters of Credit [Member]
Notional Or Contractual Credit Extension Commitments	6,668	6,119
Unused lines of Credit [Member]
Notional Or Contractual Credit Extension Commitments	$ 200,240	$ 149,771

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Federal Home Loan Bank, Consolidated Obligations, Total	$ 48,400,000	$ 63,400,000
Escrow Deposit	1,900,000	2,200,000
Servicing Asset at Fair Value, Amount, Ending Balance	257,000	335,000
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance, Ending Balance	0	0
Deferred Tax Assets, Net, Total	2,741,000	3,873,000
Deferred Tax Assets, Valuation Allowance, Total	200,000	0
Other Assets [Member]
Operating Lease, Right-of-Use Asset	5,075,000	5,846,000
Core Deposits [Member] \| Other Assets [Member]
Finite-Lived Intangible Assets, Net, Ending Balance	$ 7,000	$ 41,000
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset			$ 6,700,000
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	25 years
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	40 years
Building [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Building [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	20 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Computer Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	2 years
Computer Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Automobiles [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	4 years

Note 10 - Income Taxes - A Reconciliation of the Provision for Income Taxes (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Expense computed at the statutory federal tax rate									$ 2,680,000	$ 3,339,000
State and local taxes, net of federal income tax effect									720,000	892,000
Other, net									(3,000)	(6,000)
Valuation allowance for deferred tax assets	$ 200,000				$ 0				200,000	0
Income tax expense	$ 1,189,000	$ 713,000	$ 845,000	$ 850,000	$ 1,234,000	$ 1,417,000	$ 293,000	$ 1,281,000	$ 3,597,000	$ 4,225,000
Effective income tax rate									28.18%	26.57%

- Definition

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

+ References + Details

Note 16 - Company Only Condensed Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other assets	$ 1,300	$ 3,864
Net cash from operating activities	13,517	21,374
Repurchase and retirement of common stock	(4,610)	(18,139)
Cash dividends paid on common stock	(5,982)	(6,266)
Net cash from (used in) financing activities	100,582	(113,429)
Parent Company [Member]
Net income	9,163	11,672
Equity in undistributed subsidiary excess distributions	3,156	8,361
Other assets	1,622	2,643
Change in accrued expenses and other liabilities	783	(2,634)
Net cash from operating activities	14,724	20,042
Repurchase and retirement of common stock	(4,610)	(18,139)
Cash dividends paid on common stock	(5,982)	(6,266)
Net cash from (used in) financing activities	(10,592)	(24,405)
Net change in cash in subsidiary	4,132	(4,363)
Beginning cash in subsidiary	6,864	11,227
Ending cash in subsidiary	$ 10,996	$ 6,864

Note 5 - Other Real Estate Owned - Activity in the Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Beginning of year	$ 0	$ 23
Other real estate owned valuation adjustments	0	38
Reductions from sales of other real estate owned	0	(61)
End of year	$ 0	$ 0

Note 17 - Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Interest income	$ 12,543	$ 12,485	$ 13,194	$ 14,653	$ 15,732	$ 16,628	$ 16,522	$ 16,526	$ 52,875	$ 65,408
Interest expense	947	1,488	1,869	2,684	3,105	3,386	3,419	3,307	6,988	13,217
Net interest income	11,596	10,997	11,325	11,969	12,627	13,242	13,103	13,219	45,887	52,191
Interest Income (Expense), Net, Total	11,596	10,997	11,325	11,969	12,627	13,242	13,103	13,219	45,887	52,191
Provision for loan losses	(271)	(187)	42	471	89	(134)	3,957	(87)	55	3,825
Net interest income after provision for (recovery of) loan losses	11,867	11,184	11,283	11,498	12,538	13,376	9,146	13,306	45,832	48,366
Total noninterest income	1,541	1,264	1,163	1,398	1,648	1,474	1,426	1,624	5,366	6,172
Other expense	9,774	9,787	9,249	9,628	9,562	9,509	9,472	10,098	38,438	38,641
Income before income tax and undistributed subsidiary excess distributions	3,634	2,661	3,197	3,268	4,624	5,341	1,100	4,832	12,760	15,897
Income tax expense	1,189	713	845	850	1,234	1,417	293	1,281	3,597	4,225
Net income	$ 2,445	$ 1,948	$ 2,352	$ 2,418	$ 3,390	$ 3,924	$ 807	$ 3,551	$ 9,163	$ 11,672
Basic and diluted earnings per common share (in dollars per share)	$ 0.17	$ 0.13	$ 0.16	$ 0.16	$ 0.22	$ 0.26	$ 0.05	$ 0.22	$ 0.61	$ 0.75
Net interest income	$ 11,867	$ 11,184	$ 11,283	$ 11,498	$ 12,538	$ 13,376	$ 9,146	$ 13,306	$ 45,832	$ 48,366
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	$ 2,445	$ 1,948	$ 2,352	$ 2,418	$ 3,390	$ 3,924	$ 807	$ 3,551	$ 9,163	$ 11,672

Note 11 - Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

	Actual					Required for Capital Adequacy Purposes
	Amount		Ratio			Amount		Ratio
December 31, 2020
Community Bank Leverage Ratio	$	160,236		10.10	%	$	126,964		8.00	%

	*Actual*					*Required for Capital Adequacy Purposes*					*To be Well-Capitalized under Prompt Corrective Action Provisions*
	*Amount*		*Ratio*			*Amount*		*Ratio*			*Amount*		*Ratio*
December 31, 2019
Total capital (to risk-weighted assets)	$	170,203		16.38	%	$	83,130		8.00	%	$	103,913		10.00	%
Tier 1 (core) capital (to risk-weighted assets)		162,455		15.63			62,348		6.00			83,130		8.00
Common Tier 1 (CET1)		162,455		15.63			46,761		4.50			67,543		6.50
Tier 1 (core) capital (to adjusted average total assets)		162,455		10.89			59,666		4.00			74,583		5.00

Note 4 - Loans Receivable (Details Textual)	12 Months Ended
Note 4 - Loans Receivable (Details Textual)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 USD ($)
Loans and Leases Receivable, Gross, Total	$ 1,009,958,000	$ 1,174,728,000
Reserve for Uncollected Loan Interest	133,000	81,000
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend	$ 0	$ 0
Financing Receivable, Modifications, Number of Contracts	0	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts	0	0
Paycheck Protection Program CARES Act [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 11,000,000
First Mortgage [Member]
Percent Threshold On Loan To Value Ratios Requiring Private Mortgage Insurance			80.00%
Residential Mortgage [Member] \| Adjustable Rate and Fixed Rate Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages			$ 2,500,000
Residential Mortgage [Member] \| First Mortgage [Member]
Percent Threshold On Loan To Value Ratios Requiring Private Mortgage Insurance	80.00%
Nonresidential Real Estate Loans [Member]
Projected Cash Flow To Loan Debt Service Requirement	120.00%
Nonresidential Real Estate Loans [Member] \| Fixed Rate Nonresidential Mortgage [Member]
Loans and Leases Receivable, Amortization Period (Year)	15 years
Commercial leases [Member]
Loans And Lease Receivables, Outstanding Credit Exposure	$ 10,000,000.0
Minimum [Member] \| Nonresidential Real Estate Loans [Member]
Mortgage Loans on Real Estate, Maturity (Year)	3 years
Loans and Leases Receivable, Balloon Maturity (Year)	3 years
Loans and Leases Receivable, Amortization Period (Year)	20 years
Maximum [Member] \| Multi Family Mortgage Loans [Member]
Loan Amount To Appraised Value Of Property Securing Loan, Percentage	80.00%
Maximum [Member] \| Residential Mortgage [Member] \| Adjustable Rate and Fixed Rate Residential Mortgage [Member]
Notional Or Contractual Credit Extension Commitments, Loan Maturity (Year)			30 years
Maximum [Member] \| Nonresidential Real Estate Loans [Member]
Mortgage Loans on Real Estate, Maturity (Year)	5 years
Loans and Leases Receivable, Balloon Maturity (Year)	5 years
Loans and Leases Receivable, Amortization Period (Year)	30 years
Maximum [Member] \| Commercial leases [Member] \| No Public Rating [Member]
Commercial Leases Maturity (Year)	5 years
Loans And Lease Receivables, Outstanding Credit Exposure	$ 10,000,000.0
Collateralized Loan [Member] \| Multi Family Mortgage Loans [Member]
Collateralized Loan Receivable, Percentage Of Collateral Located Outside Primary Market Area	51.40%
Projected Cash Flow To Loan Debt Service Requirement	120.00%
Collateralized Loan [Member] \| Minimum [Member] \| Multi Family Mortgage Loans [Member]
Loans and Leases Receivable, Gross, Total	$ 500,000
Collateralized Loan [Member] \| Minimum [Member] \| Nonresidential Real Estate Loans [Member]
Loans and Leases Receivable, Gross, Total	500,000
Collateralized Loan [Member] \| Maximum [Member] \| Multi Family Mortgage Loans [Member]
Loans and Leases Receivable, Gross, Total	5,000,000.0
Collateralized Loan [Member] \| Maximum [Member] \| Nonresidential Real Estate Loans [Member]
Loans and Leases Receivable, Gross, Total	$ 5,000,000.0

Note 5 - Other Real Estate Owned (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Repossessed Assets, Total	$ 0	$ 0
Mortgage Loans in Process of Foreclosure, Amount	$ 187,000	$ 237,000

Note 2 - Earnings Per Share

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 2 – EARNINGS PER SHARE

Amounts reported in earnings per share reflect earnings available to common stockholders for the period divided by the weighted average number of shares of common stock outstanding during the period, exclusive of the effect of potential common shares. Stock options and restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent that they would have a dilutive effect if converted to common stock. There were no potential dilutive common shares for the years ended December 31, 2020 and 2019.

	*For the years ended December 31,*
	*2020*		*2019*
Net income available to common stockholders	$	9,163	$	11,672
Basic and diluted weighted average common shares outstanding		14,951,656		15,594,883
Basic and diluted earnings per common share	$	0.61	$	0.75

Note 13 - Loan Commitments and Other Off-balance-sheet Activities (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]

	*December 31,*
	*2020*		*2019*
Financial instruments wherein contractual amounts represent credit risk
Commitments to extend credit	$	31,131	$	19,737
Standby letters of credit		6,668		6,119
Unused lines of credit		200,240		149,771

Note 7 - Leases - Classification of Right of Use and Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Gross carrying amount	$ 6,694	$ 0
New lease obligation	111	6,694
Accumulated amortization	(1,730)	(848)
Other Assets [Member]
Net recorded value	5,075	5,846
Other Liabilities [Member]
Right of use lease obligations	$ 5,075	$ 5,846

Note 5 - Other Real Estate Owned - Real Estate Acquired Through Foreclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Valuation allowance	$ 0	$ 0	$ (23)
Other real estate owned, net	157	186	$ 1,226
One-to-Four Family Residential Real Estate [Member]
Balance	157	186
Valuation allowance	0	0
Other real estate owned, net	$ 157	$ 186

Note 5 - Other Real Estate Owned (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Other Real Estate, Roll Forward [Table Text Block]

	*At and For the Years Ended December 31,*
	*2020*			*2019*
Beginning balance	$	186		$	1,226
New foreclosed properties		33			186
Capitalized improvements		47			—
Valuation adjustments		—			(38	)
Sales		(109	)		(1,188	)
Ending balance	$	157		$	186

Schedule of Real Estate Properties [Table Text Block]

	*December 31, 2020*						*December 31, 2019*
	*Balance*		*Valuation Allowance*		*Net OREO Balance*		*Balance*		*Valuation Allowance*		*Net OREO Balance*
One–to–four family residential	$	157	$	—	$	157	$	186	$	—	$	186

Other Real Estate Owned, Valuation Allowance [Table Text Block]

	*At and For the Years Ended December 31,*
	*2020*		*2019*
Beginning of year	$	—	$	23
Additions charged to expense		—		38
Reductions from sales of other real estate owned		—		(61	)
End of year	$	—	$	—

Note 4 - Loans Receivable

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE 4 – LOANS RECEIVABLE

Loans receivable are as follows:

December 31,

2020

2019

One-to-four family residential real estate
$ 41,691 $ 55,750

Multi-family mortgage
452,241 563,750

Nonresidential real estate
108,658 134,674

Construction and land
499 —

Commercial loans and leases
405,057 418,343

Consumer
1,812 2,211

1,009,958 1,174,728

Net deferred loan origination costs
371 912

Allowance for loan losses
(7,751 ) (7,632 )

Loans, net
$ 1,002,578 $ 1,168,008

Loan Origination/Risk Management. The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. The Company reviews and approves these policies and procedures on a periodic basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans via trend and risk rating migration. The Company requires title insurance insuring the priority of our lien on real estate collateral, fire and extended coverage casualty insurance, and, if appropriate, flood insurance, in order to protect our security interest in the underlying real property collateral.

The majority of the loans the Company originates are commercial-related loans, such as multi-family, nonresidential real estate, commercial loans and leases, and construction and land loans. In addition, we originated one-to-four family residential mortgage loans and consumer loans until December 31, 2017. We also occasionally purchase and sell loan participations. The following briefly describes our principal loan products.

The Company originates real estate loans principally secured by first liens, both non-owner occupied and owner occupied commercial real estate. The non-owner occupied commercial real estate properties are predominantly multi-family apartment buildings, office buildings, light industrial buildings, shopping centers and mixed-use developments and, to a much lesser extent, more specialized properties such as nursing homes and other healthcare facilities.

Multi-family mortgage loans generally are secured by multi-family rental properties such as apartment buildings, including subsidized apartment units. In general, loan amounts range between $500,000 and $5.0 million at December 31, 2020. Approximately 51.4% of the collateral is located outside of our primary market area; however, we do not have a concentration in any single market in excess of 25% of our loan portfolio outside of our primary market area. In underwriting multi-family mortgage loans, the Company considers a number of factors, which include the projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 120%), the age and condition of the collateral, the financial resources and income level of the borrower, the borrower’s experience in owning or managing similar properties and, proximity to diverse employment opportunities. Multi-family mortgage loans are generally originated in amounts up to 80% of the appraised value of the property securing the loan. Personal guarantees are usually obtained on multi-family mortgage loans if the borrower/property owner is a legal entity.

Loans secured by multi-family mortgages generally involve a greater degree of credit risk as a result of several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income producing properties, and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family mortgages typically depends upon the successful operation of the related real estate property. If the cash flow from the project is reduced below acceptable thresholds, the borrower’s ability to repay the loan may be impaired.

The Company emphasizes nonresidential real estate loans with initial principal balances between $500,000 and $5.0 million. Substantially all of our nonresidential real estate loans are secured by properties located in our primary market area. The Company’s nonresidential real estate loans are generally written as three- or five-year adjustable-rate mortgages or mortgages with balloon maturities of three or five years. Amortization on these loans is typically based on 20- to 30-year schedules. The Company also originates some 15-year fixed-rate, fully amortizing loans.

In the underwriting of nonresidential real estate loans, the Company generally lends up to 80% of the property’s appraised value. Decisions to lend are based on the economic viability of the property as the primary source of repayment and the creditworthiness of the borrower. In evaluating a proposed commercial real estate loan, we emphasize the ratio of the property’s projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 120%), computed after deduction for a vacancy factor and property expenses we deem appropriate. Personal guarantees are usually pursued and obtained from nonresidential real estate borrowers.

Nonresidential real estate loans generally carry higher interest rates and have shorter terms and typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment of loans secured by income-producing properties typically depends on the successful operation of the related real estate project and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy.

The Company makes various types of secured and unsecured commercial loans to customers in our market area for the purpose of financing equipment acquisition, expansion, working capital and other general business purposes. The terms of these loans generally range from less than one year to five years. The loans are either negotiated on a fixed-rate basis or carry adjustable interest rates indexed to (i) a lending rate that is determined internally, or (ii) a short-term market rate index.

Commercial credit decisions are based upon our assessment of the borrower’s cash flow, proposed collateral, business and credit history and any additional positive or negative credit risk factors. The Company determines the borrower’s ability to repay in accordance with the proposed terms of the loans and we assess the risks involved. An evaluation is made of the borrower to determine character and capacity to manage. Personal guarantees of the principals are pursued and usually obtained. In addition to evaluating the loan borrower’s financial statements, we consider the adequacy of the primary and secondary sources of repayment for the loan. Independent reports of the borrower’s credit history supplement our analysis of the borrower’s creditworthiness and at times are supplemented with inquiries to other banks and trade investigations. Moreover, certain assets listed on personal financial statements are verified. Proposed collateral for a secured transaction also is analyzed to determine its marketability. Commercial business loans generally have higher interest rates because they have a higher risk of default since their repayment generally depends on the successful operation of the borrower’s business and the sufficiency of any collateral. Pricing of commercial loans is based primarily on the credit risk of the borrower, with due consideration given to borrowers with appropriate deposit relationships.

The Company also lends money to small and mid-size leasing companies for equipment financing leases. Generally, commercial leases are secured by an assignment by the leasing company of the lease payments and by a secured interest in the equipment being leased. In most cases, the lessee acknowledges our security interest in the leased equipment and agrees to send lease payments directly to us. Consequently, the Company underwrites lease loans by examining the creditworthiness of the lessee rather than the lessor. Lease loans generally are non-recourse to the leasing company.

Generally, the Company’s commercial leases are secured primarily by technology equipment, medical equipment, material handling equipment and other capital equipment. Lessees tend to be publicly-traded companies with investment-grade rated debt or companies that have not issued public debt and therefore do not have a public debt rating. Typically, commercial leases to these lessees have a maximum maturity of five years and a maximum outstanding credit exposure of $10.0 million to any single entity. In addition, the Company will originate commercial finance leases to lessees with below investment-grade public debt ratings and have a maximum outstanding credit exposure of $10.0 million to any single entity. Lease loans are almost always fully amortizing, with fixed interest rates.

Although the Company does not actively originate construction and land loans presently, construction and land loans generally consist of land acquisition loans to help finance the purchase of land intended for further development, including single-family homes, multi-family housing and commercial income property, development loans to builders in our market area to finance improvements to real estate, consisting mostly of single-family subdivisions, typically to finance the cost of utilities, roads, sewers and other development costs.

Until December 31, 2017, the Company offered conforming and non-conforming, fixed-rate and adjustable-rate residential mortgage loans with maturities of up to 30 years and maximum loan amounts generally of up to $2.5 million. One-to-four family residential mortgage loans were generally underwritten according to Fannie Mae guidelines, and loans that conformed to such guidelines are referred to as “conforming loans.” Private mortgage insurance is required for first mortgage loans with loan-to-value ratios in excess of 80%.

The ability of the Company’s borrowers to repay their loans, and the value of the collateral securing such loans, could be adversely impacted by economic weakness in its local markets as a result of unemployment, declining real estate values, or increased residential, office, industrial and retail shopping vacancies due to changes in business conditions. This not only could result in the Company experiencing charge-offs and/or nonperforming assets, but also could necessitate an increase in the provision for loan losses. These events, if they were to recur, would have an adverse impact on the Company’s results of operations and its capital.

The following tables present the balance in the allowance for loan losses and the loans receivable by portfolio segment and based on impairment method:

Allowance for loan losses

Loan Balances

Individually evaluated for impairment

Collectively evaluated for impairment

Total

Individually evaluated for impairment

Collectively evaluated for impairment

Total

December 31, 2020

One-to-four family residential real estate
$ — $ 518 $ 518 $ 1,718 $ 39,973 $ 41,691

Multi-family mortgage
— 4,062 4,062 520 451,721 452,241

Nonresidential real estate
28 1,541 1,569 296 108,362 108,658

Construction and land — 12 12 — 499 499

Commercial loans and leases
— 1,536 1,536 — 405,057 405,057

Consumer
— 54 54 — 1,812 1,812

$ 28 $ 7,723 $ 7,751 $ 2,534 $ 1,007,424 1,009,958

Net deferred loan origination costs
371

Allowance for loan losses
(7,751 )

Loans, net
$ 1,002,578

Allowance for loan losses

Loan Balances

Individually evaluated for impairment

Collectively evaluated for impairment

Total

Individually evaluated for impairment

Collectively evaluated for impairment

Total

December 31, 2019

One-to-four family residential real estate
$ — $ 675 $ 675 $ 1,835 $ 53,915 $ 55,750

Multi-family mortgage
— 3,676 3,676 620 563,130 563,750

Nonresidential real estate
— 1,176 1,176 288 134,386 134,674

Commercial loans and leases
— 2,065 2,065 — 418,343 418,343

Consumer
— 40 40 — 2,211 2,211

$ — $ 7,632 $ 7,632 $ 2,743 $ 1,171,985 1,174,728

Net deferred loan origination costs
912

Allowance for loan losses
(7,632 )

Loans, net
$ 1,168,008

The following table presents the activity in the allowance for loan losses by portfolio segment:

Beginning balance
Provision for (recovery of) loan losses
Loans charged off
Recoveries
Ending balance

December 31, 2020

One-to-four family residential real estate
$ 675 $ (185 ) $ (9 ) $ 37 $ 518

Multi-family mortgage
3,676 292 — 94 4,062

Nonresidential real estate
1,176 393 — — 1,569

Construction and land
— 12 — — 12

Commercial loans and leases
2,065 (533 ) — 4 1,536

Consumer
40 76 (62 ) — 54

$ 7,632 $ 55 $ (71 ) $ 135 $ 7,751

December 31, 2019

One-to-four family residential real estate
$ 699 $ 123 $ (222 ) $ 75 $ 675

Multi-family mortgage
3,991 (346 ) — 31 3,676

Nonresidential real estate
1,476 (217 ) (83 ) — 1,176

Construction and land
4 (4 ) — — —

Commercial loans and leases
2,272 4,226 (4,443 ) 10 2,065

Consumer 28 43 (31 ) — 40

$ 8,470 $ 3,825 $ (4,779 ) $ 116 $ 7,632

Impaired loans

The following tables present loans individually evaluated for impairment by class of loans:

Loan Balance

Recorded Investment

Partial Charge- off

Allowance for Loan Losses Allocated

Average Investment in Impaired Loans

Interest Income Recognized

December 31, 2020

With no related allowance recorded

One-to-four family residential real estate
$ 2,069 $ 1,718 $ 363 $ — $ 1,782 $ 42

Multi-family mortgage - Illinois
520 520 — — 594 31

2,589 2,238 363 — 2,376 73

With an allowance recorded - nonresidential real estate
280 296 — 28 289 —

$ 2,869 $ 2,534 $ 363 $ 28 $ 2,665 $ 73

December 31, 2019

With no related allowance recorded

One-to-four family residential real estate
$ 2,168 $ 1,835 $ 339 $ — $ 2,208 $ 51

Multi-family mortgage - Illinois
620 620 — — 637 37

Nonresidential real estate
280 288 — — 589 2

$ 3,068 $ 2,743 $ 339 $ — $ 3,434 $ 90

Nonaccrual loans

The following tables present the recorded investment in nonaccrual and loans 90 days or more past due still on accrual by class of loans:

Loan Balance Recorded Investment
Loans Past Due Over 90 Days, still accruing

December 31, 2020

One-to-four family residential real estate
$ 946 $ 925 $ —

Nonresidential real estate
280 296 —

$ 1,226 $ 1,221 $ —

December 31, 2019

One-to-four family residential real estate
$ 598 $ 512 $ —

Nonresidential real estate
280 288 —

Commercial loans and leases
47 — 47

$ 925 $ 800 $ 47

Nonaccrual loans and impaired loans are defined differently. Some loans may be included in both categories, and some may only be included in one category. Nonaccrual loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

The Company’s reserve for uncollected loan interest was $133,000 and $81,000 at December 31, 2020 and 2019, respectively. When a loan is on non-accrual status and the ultimate collectability of the total principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. Alternatively, when a loan is on non-accrual status but there is doubt concerning only the ultimate collectability of interest, contractual interest is credited to interest income only when received, under the cash basis method pursuant to the provisions of FASB ASC 310–10, as applicable. In all cases, the average balances are calculated based on the month–end balances of the financing receivables within the period reported pursuant to the provisions of FASB ASC 310–10, as applicable.

Past Due Loans

The following tables present the aging of the recorded investment of loans by class of loans:

30-59 Days Past Due

60-89 Days Past Due

90 Days or Greater Past Due

Total Past Due

Loans Not Past Due

Total

December 31, 2020

One-to-four family residential real estate loans:

Owner occupied
$ 252 $ 211 $ 834 $ 1,297 $ 32,078 $ 33,375

Non-owner occupied
3 132 91 226 8,090 8,316

Multi-family mortgage:

Illinois
86 — — 86 221,943 222,029

Other
— — — — 230,212 230,212

Nonresidential real estate
— — 296 296 108,362 108,658

Construction and land — — — — 499 499

Commercial loans and leases:

Commercial
4,886 — — 4,886 72,809 77,695

Asset-based
— — — — 1,740 1,740

Equipment finance:

Government
2,468 — — 2,468 100,272 102,740

Investment-rated
618 225 — 843 86,417 87,260

Other
853 2,487 — 3,340 132,282 135,622

Consumer
6 5 — 11 1,801 1,812

$ 9,172 $ 3,060 $ 1,221 $ 13,453 $ 996,505 $ 1,009,958

30-59 Days Past Due

60-89 Days Past Due

90 Days or Greater Past Due

Total Past Due

Loans Not Past Due

Total

December 31, 2019

One-to-four family residential real estate loans:

Owner occupied
$ 777 $ 340 $ 507 $ 1,624 $ 43,365 $ 44,989

Non-owner occupied
280 15 — 295 10,466 10,761

Multi-family mortgage:

Illinois
981 302 — 1,283 246,680 247,963

Other
— — — — 315,787 315,787

Nonresidential real estate
— — 288 288 134,386 134,674

Commercial loans and leases:

Commercial
— — — — 133,976 133,976

Asset-based
— — — — 11,738 11,738

Equipment finance:

Government
— — — — 33,555 33,555

Investment-rated
826 — 47 873 101,015 101,888

Other
543 136 — 679 136,507 137,186

Consumer
24 37 — 61 2,150 2,211

$ 3,431 $ 830 $ 842 $ 5,103 $ 1,169,625 $ 1,174,728

U.S. Small Business Administration Paycheck Protection Program

In response to the COVID-19 pandemic, the Coronavirus Aid, Relief and Economic Security Act ("CARES Act") was passed by Congress and signed into law on March 27, 2020. The CARES Act established the Paycheck Protection Program ("PPP"), designed to provide a direct incentive for small businesses to keep their workers on the payroll. Under the most recently published guidance, the U.S. Small Business Administration ("SBA") will forgive PPP loans if all employee retention criteria are met, and the funds are used for eligible expenses. For the year ended December 31, 2020, we allocated approximately $11 million to the PPP based on the expected 100% guaranty of the SBA.

The following table presents the PPP activity:

Number of loans

Originated

Balance

For the Year Ended December 31, 2020

Paycheck protection program loan originations
315 $ 11,160

December 31, 2020

Paycheck protection program loans
290 $ 10,180

COVID-19 Loan Forbearance Programs

Section 4013 of the CARES Act provides that a qualified loan modification is exempt by law from classification as a Troubled Debt Restructuring ("TDR") pursuant to US GAAP. In addition, the Revised Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working With Customers Affected by the Coronavirus (“OCC Bulletin 2020-50”) provides more limited circumstances in which a loan modification is not subject to classification as a TDR and also defined the circumstances where the borrower’s loan is reported as current on loan payments. Pursuant to these new capabilities, we developed several loan forbearance programs to assist borrowers with managing cash flows disrupted due to COVID-19.

Our Apartment and Commercial Real Estate COVID-19 Qualified Limited Forbearance Agreement permitted borrowers who qualified under Section 4013 of the CARES Act to make an election to pay scheduled interest and escrow payments (if applicable) for a four-month period beginning in April 2020, and pay all deferred principal payments by December 2020.

Our Small Investment Property COVID-19 Qualified Limited Forbearance Agreement permitted borrowers with loan balances under $750,000 who qualified under Section 4013 of the CARES Act to make an election to pay scheduled interest and escrow payments (if applicable) for a four-month period beginning in April 2020, and pay all deferred principal payments by December 2020. In addition, the borrower could elect to defer the May 2020 loan payment entirely, with all deferred interest amounts due by December 2020 and all deferred principal amounts due by June 30, 2021.

CARES Act Section 4013 and OCC Bulletin 2020-35 forbearance agreements are available to qualified commercial loan and commercial finance borrowers, and to commercial equipment lessees.

For residential mortgage and consumer loans, relief under CARES Act Section 4013 or OCC Bulletin 2020-35 forbearance agreements are available to qualified borrowers with terms consistent with secondary residential mortgage market standards established by Fannie Mae.

The following table summarizes the remaining loan forbearance modifications at December 31, 2020:

Principal

Remaining Amounts

Number of loans

Balance

Deferred

Small Investment Property COVID-19 Qualified Limited Forbearance Agreement

Multi-family mortgage
8 $ 3,092 $ 17

Nonresidential real estate
10 3,363 22

Apartment and Commercial Real Estate COVID-19 Qualified Limited Forbearance Agreement

Nonresidential real estate
2 2,480 6

One-to-four family residential real estate
10 1,402 8

30 $ 10,337 $ 53

Troubled Debt Restructurings

The Company evaluates loan extensions or modifications not qualified under Section 4013 of the CARES Act or under OCC Bulletin 2020-35 in accordance with FASB ASC 340-10 with respect to the classification of the loan as a TDR.

Under ASC 340-10, if the Company grants a loan extension or modification to a borrower experiencing financial difficulties for other than an insignificant period of time that includes a below–market interest rate, principal forgiveness, payment forbearance or other concession intended to minimize the economic loss to the Company, the loan extension or loan modification is classified as a TDR. In cases where borrowers are granted new terms that provide for a reduction of either interest or principal then due and payable, management measures any impairment on the restructured loan in the same manner as for impaired loans as noted above.

The Company had no TDRs at December 31, 2020 and 2019. During the years ending December 31, 2020 and 2019, there were no loans modified and classified as TDRs. During the years ending December 31, 2020 and 2019, there were no TDR loans that subsequently defaulted within twelve months of their modification.

A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms.

To determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy.

Credit Quality Indicators:

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans based on credit risk.

This analysis includes non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a monthly basis. The Company uses the following definitions for risk ratings:

Special Mention. A Special Mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification.

Substandard. Loans categorized as substandard continue to accrue interest, but exhibit a well-defined weakness or weaknesses that may jeopardize the liquidation of the debt. The loans continue to accrue interest because they are well secured and collection of principal and interest is expected within a reasonable time. The risk rating guidance published by the Office of the Comptroller of the Currency clarifies that a loan with a well-defined weakness does not have to present a probability of default for the loan to be rated Substandard, and that an individual loan’s loss potential does not have to be distinct for the loan to be rated Substandard.

Nonaccrual. An asset classified Nonaccrual has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered “Pass” rated loans.

Based on the most recent analysis performed, the risk category of loans by class of loans are as follows:

Pass

Special Mention

Substandard

Nonaccrual

Total

December 31, 2020

One-to-four family residential real estate loans:

Owner occupied
$ 32,089 $ - $ 452 $ 834 $ 33,375

Non-owner occupied
8,164 27 34 91 8,316

Multi-family mortgage:

Illinois
222,029 — — — 222,029

Other
230,212 — — — 230,212

Nonresidential real estate
106,280 1,998 84 296 108,658

Construction and land 499 — — — 499

Commercial loans and leases:

Commercial
72,809 — 4,886 — 77,695

Asset-based
1,740 — — — 1,740

Equipment finance:

Government
102,740 — — — 102,740

Investment-rated
87,260 — — — 87,260

Other
134,617 — 1,005 — 135,622

Consumer
1,802 5 5 — 1,812

$ 1,000,241 $ 2,030 $ 6,466 $ 1,221 $ 1,009,958

Pass

Special Mention

Substandard

Nonaccrual

Total

December 31, 2019

One-to-four family residential real estate loans:

Owner occupied
$ 43,908 $ 36 $ 533 $ 512 $ 44,989

Non-owner occupied
10,696 30 35 — 10,761

Multi-family mortgage:

Illinois
247,757 — 206 — 247,963

Other
315,787 — — — 315,787

Nonresidential real estate
134,134 162 90 288 134,674

Commercial loans and leases:

Commercial
125,630 8,346 — — 133,976

Asset-based
11,738 — — — 11,738

Equipment finance:

Government
33,555 — — — 33,555

Investment-rated
101,381 507 — — 101,888

Other
136,289 761 136 — 137,186

Consumer
2,153 5 53 — 2,211

$ 1,163,028 $ 9,847 $ 1,053 $ 800 $ 1,174,728

Note 2 - Earnings Per Share (Details Textual) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total (in shares)	0	0

Note 15 - Revenue from Contracts with Customers (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 3,196	$ 3,844
Credit and Debit Card [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 1,400	$ 1,500

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Note 9 - Borrowings (Details Textual) - USD ($) $ in Thousands	Apr. 01, 2020	Dec. 31, 2020	Dec. 31, 2019
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged		$ 0
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds		315,600
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value, Total		1,200	$ 2,000
Debt, Long-term and Short-term, Combined Amount, Total			$ 61
Federal Home Loan Bank Advances [Member]
Debt, Long-term and Short-term, Combined Amount, Total		0
Line of Credit [Member] \| Unsecured Debt [Member]
Line of Credit, Current	$ 5,000
Line of Credit [Member] \| Unsecured Debt [Member] \| Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
First Mortgage [Member]
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged		25,400
Multi Family Mortgage Loans [Member]
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged		$ 328,100

Note 14 - Fair Value - Financial Assets At Fair Value on Non-recurring Basis (Details) - Real Estate Portfolio [Member] - Nonresidential Real Estate [Member] - Fair Value, Nonrecurring [Member] $ in Thousands	Dec. 31, 2020 USD ($)
Impaired loans, fair value	$ 268
Fair Value, Inputs, Level 1 [Member]
Impaired loans, fair value	0
Fair Value, Inputs, Level 2 [Member]
Impaired loans, fair value	0
Fair Value, Inputs, Level 3 [Member]
Impaired loans, fair value	$ 268

Note 8 - Deposits (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Time Deposits, at or Above FDIC Insurance Limit	$ 30,700	$ 89,300
Certificates of Deposit, at Carrying Value	9,900	65,100
Certificates of Deposit, Brokered	$ 0	$ 18,900