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Quaint Oak Bancorp (QNTO)

Document And Entity Information

Document And Entity Information - USD ($)12 Months Ended
Dec. 31, 2020Mar. 23, 2021Jun. 30, 2020
Document Information [Line Items]
Entity Registrant NameQUAINT OAK BANCORP INC
Entity Central Index Key0001391933
Trading Symbolqnto
Current Fiscal Year End Date--12-31
Entity Filer CategoryNon-accelerated Filer
Entity Current Reporting StatusYes
Entity Voluntary FilersNo
Entity Well-known Seasoned IssuerNo
Entity Emerging Growth Companyfalse
Entity Small Businesstrue
Entity Interactive Data CurrentYes
Entity Common Stock, Shares Outstanding (in shares)1,989,519
Entity Public Float $ 14,458,851
Entity Shell Companyfalse
Document Type10-K
Document Period End DateDec. 31,
2020
Document Fiscal Year Focus2020
Document Fiscal Period FocusFY
Amendment Flagfalse
Title of 12(g) SecurityCommon Stock, $.01 par value per share

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)Dec. 31, 2020Dec. 31, 2019
Assets
Due from banks, non-interest-bearing $ 205,000 $ 541,000
Due from banks, interest-bearing33,708,000 14,014,000
Cash and cash equivalents33,913,000 14,555,000
Investment in interest-earning time deposits9,463,000 10,172,000
Investment securities available for sale10,725,000 7,623,000
Loans held for sale53,191,000 8,928,000
Loans receivable, net of allowance for loan losses (2020 $3,061; 2019 $2,231)359,122,000 246,692,000
Accrued interest receivable3,054,000 1,349,000
Investment in Federal Home Loan Bank stock, at cost1,665,000 1,580,000
Bank-owned life insurance4,054,000 3,974,000
Premises and equipment, net2,341,000 2,226,000
Goodwill515,000 515,000
Other intangible, net of accumulated amortization271,000 319,000
Other real estate owned, net286,000 1,824,000
Prepaid expenses and other assets5,475,000 2,783,000
Total Assets484,075,000 302,540,000
Liabilities
Non-interest bearing54,202,000 15,775,000
Interest-bearing300,643,000 211,683,000
Total deposits354,845,000 227,458,000
Federal Home Loan Bank short-term borrowings10,000,000 10,000,000
Federal Home Loan Bank long-term borrowings28,193,000 26,271,000
Federal Reserve Bank long-term borrowings48,134,000 0
Subordinated debt7,899,000 7,865,000
Accrued interest payable362,000 314,000
Advances from borrowers for taxes and insurance2,486,000 2,780,000
Accrued expenses and other liabilities3,428,000 1,945,000
Total Liabilities455,347,000 276,633,000
Stockholders’ Equity
Preferred stock – $0.01 par value, 1,000,000 shares authorized; none issued or outstanding0 0
Common stock – $0.01 par value; 9,000,000 shares authorized; 2,777,250 issued; 1,986,528 and 1,984,857 outstanding at December 31, 2020 and 2019, respectively28,000 28,000
Additional paid-in capital15,282,000 14,990,000
Treasury stock, at cost: 790,722 and 792,393 shares at December 31, 2020 and 2019, respectively(5,114,000)(4,950,000)
Unallocated common stock held by: Employee Stock Ownership Plan (ESOP)(51,000)(118,000)
Accumulated other comprehensive income118,000 20,000
Retained earnings18,465,000 15,937,000
Total Stockholders’ Equity28,728,000 25,907,000
Total Liabilities and Stockholders’ Equity $ 484,075,000 $ 302,540,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Loans receivable, allowance for loan losses $ 3,061 $ 2,231
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares)1,000,000 1,000,000
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)9,000,000 9,000,000
Common stock, shares issued (in shares)2,777,250 2,777,250
Common stock, shares outstanding (in shares)1,986,528 1,984,857
Treasury stock, at cost, shares (in shares)790,722 792,393

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Interest Income
Interest on loans, including fees $ 15,657,000 $ 13,167,000
Interest and dividends on investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock666,000 944,000
Total Interest Income16,323,000 14,111,000
Interest Expense
Interest on deposits4,216,000 4,287,000
Interest on Federal Home Loan Bank short-term borrowings37,000 141,000
Interest on Federal Home Loan Bank long-term borrowings607,000 479,000
Interest on Federal Reserve Bank long-term borrowings108,000
Interest on subordinated debt520,000 519,000
Total Interest Expense5,488,000 5,426,000
Net Interest Income10,835,000 8,685,000
Provision for Loan Losses830,000 303,000
Net Interest Income after Provision for Loan Losses10,005,000 8,382,000
Non-Interest Income
Insurance commissions490,000 419,000
Income from bank-owned life insurance80,000 80,000
Net gain on loans held for sale4,319,000 3,014,000
Gain on the sale of SBA loans115,000 265,000
Loss on sale of investment securities available for sale (4,000)
Loss on sales and write-downs of other real estate owned(197,000)(221,000)
Total Non-Interest Income, net6,655,000 4,953,000
Non-Interest Expense
Salaries and employee benefits8,427,000 6,947,000
Directors’ fees and expenses232,000 223,000
Occupancy and equipment913,000 692,000
Data processing717,000 508,000
Professional fees541,000 416,000
FDIC deposit insurance assessment121,000 15,000
Other real estate owned expenses42,000 22,000
Advertising113,000 195,000
Amortization of other intangible49,000 49,000
Other968,000 841,000
Total Non-Interest Expense12,123,000 9,908,000
Income before Income Taxes4,537,000 3,427,000
Income Taxes1,292,000 950,000
Net Income $ 3,245,000 $ 2,477,000
Earnings per share – basic (in dollars per share) $ 1.64 $ 1.27
Average shares outstanding - basic (in shares)1,975,836 1,956,612
Earnings per share - diluted (in dollars per share) $ 1.61 $ 1.24
Average shares outstanding - diluted (in shares)2,012,399 2,005,438
Mortgage Banking and Abstract Fees [Member]
Non-Interest Income
Non-interest revenue $ 1,579,000 $ 1,152,000
Real Estate Sales Commissions [Member]
Non-Interest Income
Non-interest revenue159,000 180,000
Other Fees and Services Fees [Member]
Non-Interest Income
Non-interest revenue $ 109,000 $ 68,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Net Income $ 3,245,000 $ 2,477,000
Other Comprehensive Income:
Unrealized gains on investment securities available for sale125,000 22,000
Income tax effect(27,000)(3,000)
Reclassification adjustment for losses on sale of investment securities included in net income 4,000
Income tax effect (1,000)
Net other comprehensive income98,000 22,000
Total Comprehensive Income $ 3,343,000 $ 2,499,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)The 401(k) Plan [Member]Common Stock Outstanding [Member]The 401(k) Plan [Member]Additional Paid-in Capital [Member]The 401(k) Plan [Member]Treasury Stock [Member]The 401(k) Plan [Member]Unallocated Common Stock Held by Benefit Plans [Member]The 401(k) Plan [Member]AOCI Attributable to Parent [Member]The 401(k) Plan [Member]Retained Earnings [Member]The 401(k) Plan [Member]The 2018 Stock Incentive Plan [Member]Common Stock Outstanding [Member]The 2018 Stock Incentive Plan [Member]Additional Paid-in Capital [Member]The 2018 Stock Incentive Plan [Member]Treasury Stock [Member]The 2018 Stock Incentive Plan [Member]Unallocated Common Stock Held by Benefit Plans [Member]The 2018 Stock Incentive Plan [Member]AOCI Attributable to Parent [Member]The 2018 Stock Incentive Plan [Member]Retained Earnings [Member]The 2018 Stock Incentive Plan [Member]The 2008 Stock Option Plan [Member]Common Stock Outstanding [Member]The 2008 Stock Option Plan [Member]Additional Paid-in Capital [Member]The 2008 Stock Option Plan [Member]Treasury Stock [Member]The 2008 Stock Option Plan [Member]Unallocated Common Stock Held by Benefit Plans [Member]The 2008 Stock Option Plan [Member]AOCI Attributable to Parent [Member]The 2008 Stock Option Plan [Member]Retained Earnings [Member]The 2008 Stock Option Plan [Member]Common Stock Outstanding [Member]Additional Paid-in Capital [Member]Treasury Stock [Member]Unallocated Common Stock Held by Benefit Plans [Member]AOCI Attributable to Parent [Member]Retained Earnings [Member]Total
BALANCE (in shares) at Dec. 31, 20181,975,947
Balance beginning of the year at Dec. 31, 2018 $ 28,000 $ 14,683,000 $ (4,824,000) $ (185,000) $ (2,000) $ 14,136,000 $ 23,836,000
Common stock allocated by ESOP 119,000 67,000 186,000
Treasury stock purchased (in shares)(27,297)
Treasury stock purchased (339,000) (339,000)
Reissuance of treasury stock (in shares)2,986 9,721 23,500
Reissuance of treasury stock $ 20,000 $ 18,000 $ 38,000 $ (57,000) $ 57,000 $ 52,000 $ 138,000 $ 190,000
Stock based compensation expense173,000 173,000
Cash dividends declared(676,000)(676,000)
Net Income2,477,000 2,477,000
Other comprehensive income, net22,000 $ 22,000
BALANCE (in shares) at Dec. 31, 20191,984,857 1,984,857
Balance end of the year at Dec. 31, 2019 $ 28,000 14,990,000 (4,950,000)(118,000)20,000 15,937,000 $ 25,907,000
Common stock allocated by ESOP 106,000 67,000 173,000
Treasury stock purchased (in shares)(28,891)
Treasury stock purchased (349,000) (349,000)
Reissuance of treasury stock (in shares)8,641 9,421 12,500
Reissuance of treasury stock $ 44,000 $ 53,000 $ 97,000 $ (57,000) $ 57,000 $ 26,000 $ 75,000 $ 101,000
Stock based compensation expense 173,000 173,000
Cash dividends declared (717,000)(717,000)
Net Income 3,245,000 3,245,000
Other comprehensive income, net 98,000 $ 98,000
BALANCE (in shares) at Dec. 31, 20201,986,528 1,986,528
Balance end of the year at Dec. 31, 2020 $ 28,000 $ 15,282,000 $ (5,114,000) $ (51,000) $ 118,000 $ 18,465,000 $ 28,728,000

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Retained Earnings [Member]
Cash dividends declared, per share (in dollars per share) $ 0.34
Common stock allocated by ESOP (in shares)14,428 14,428
Cash dividends declared, per share (in dollars per share) $ 0.36

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Net Income $ 3,245,000 $ 2,477,000
Provision for loan losses830,000 303,000
Depreciation expense249,000 200,000
Amortization of operating right-of-use assets145,000 95,000
Amortization of subordinated debt issuance costs34,000 34,000
Amortization of other intangible49,000 49,000
Net amortization of securities premiums11,000 28,000
Accretion of deferred loan fees and costs, net(1,370,000)(435,000)
Deferred income taxes(566,000)(41,000)
Stock-based compensation expense346,000 359,000
Net realized loss on sale of foreclosed real estate92,000
Loss on sale of investment securities available for sale 4,000
Net gain on loans held for sale(4,319,000)(3,014,000)
Loans held for sale-originations(207,062,000)(135,310,000)
Loans held for sale-proceeds167,118,000 134,499,000
Gain on the sale of SBA loans(115,000)(265,000)
Write-downs of other real estate owned105,000 221,000
Increase in the cash surrender value of bank-owned life insurance(80,000)(80,000)
Changes in assets and liabilities which provided (used) cash:
Accrued interest receivable(1,705,000)(196,000)
Prepaid expenses and other assets(1,640,000)(395,000)
Accrued interest payable48,000 93,000
Accrued expenses and other liabilities824,000 (478,000)
Net Cash Used in Operating Activities(43,761,000)(1,852,000)
Cash Flows from Investing Activities
Purchase of interest-earning time deposits(1,317,000)(6,849,000)
Redemption of interest-earning time deposits2,026,000 1,603,000
Purchase of investment securities available for sale(4,008,000)(3,319,000)
Principal repayments on investment securities available for sale1,020,000 1,341,000
Proceeds from the sales of investment securities available for sale 1,030,000
Net increase in loans receivable(111,775,000)(29,397,000)
Purchase of Federal Home Loan Bank stock(808,000)(614,000)
Redemption of Federal Home Loan Bank stock723,000 120,000
Proceeds from the sale of foreclosed real estate1,611,000
Capitalized expenditures on other real estate owned(270,000)(395,000)
Purchase of premises and equipment(364,000)(368,000)
Net Cash Used in Investing Activities(113,162,000)(36,848,000)
Cash Flows from Financing Activities
Net increase (decrease) in demand deposits, money markets, and savings accounts112,411,000 (2,689,000)
Net increase in certificate accounts14,976,000 18,236,000
(Decrease) increase in advances from borrowers for taxes and insurance(294,000)212,000
Proceeds from Federal Home Loan Bank short-term borrowings20,000,000 13,000,000
Repayment of Federal Home Loan Bank short-term borrowings(20,000,000)(12,000,000)
Proceeds from Federal Home Loan Bank long-term borrowings3,922,000 14,271,000
Repayment of Federal Home Loan Bank long-term borrowings(2,000,000)(3,000,000)
Proceeds from Federal Reserve Bank long-term borrowings52,144,000
Repayment of Federal Reserve Bank long-term borrowings(4,010,000)
Dividends paid(717,000)(676,000)
Purchase of treasury stock(349,000)(339,000)
Proceeds from the reissuance of treasury stock97,000 38,000
Proceeds from the exercise of stock options101,000 190,000
Net Cash Provided by Financing Activities176,281,000 27,243,000
Net Increase (Decrease) in Cash and Cash Equivalents19,358,000 (11,457,000)
Cash and Cash Equivalents – Beginning of Year14,555,000 26,012,000
Cash and Cash Equivalents – End of Year33,913,000 14,555,000
Supplementary Disclosure of Cash Flow and Non-Cash Information:
Cash payments for interest5,441,000 5,333,000
Cash payments for income taxes1,124,000 1,034,000
Initial recognition of operating lease right-of use assets658,000 1,386,000
Initial recognition of operating lease obligations $ 658,000 $ 1,386,000

Note 1 - Nature of Operations

Note 1 - Nature of Operations12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Nature of Operations [Text Block]Note 1 The consolidated financial statements include the accounts of Quaint Oak Bancorp, Inc., a Pennsylvania chartered corporation (the “Company” or “Quaint Oak Bancorp”) and its wholly owned subsidiary, Quaint Oak Bank, a Pennsylvania chartered stock savings bank (the “Bank”), along with its wholly owned subsidiaries. At December 31, 2020, five July 2009. February, 2019, July 2012 August 2016 The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Pursuant to the Bank's election under Section 10 two February 2019,

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]Note 2 Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Company's most significant estimates are the determination of the allowance for loan losses and valuation of deferred tax assets. Significant Group Concentrations of Credit Risk The Bank has a significant concentration of loans in Philadelphia County, Pennsylvania. The concentration of credit by type of loan is set forth in Note 7. December 31, 2020, one 36% 34% Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include non-interest earning and interest-earning demand deposits and money market accounts with various financial institutions, all of which mature within ninety Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Securities classified as available for sale are those securities that the Company intends to hold for an indefinite period of time but not Securities classified as held to maturity are those debt securities the Company has both the intent and ability to hold to maturity regardless of the changes in market conditions, liquidity needs, or changes in general economic conditions. These securities are carried at cost adjusted for amortization of premium and accretion of discount, which are recognized in interest income using the interest method over the terms of the securities. The Company follows the accounting guidance related to recognition and presentation of other-than-temporary impairment. This accounting guidance specifies that (a) if a company does not not not not not not not no December 31, 2020 2019. Federal Home Loan Bank Stock Federal law requires a member institution of the Federal Home Loan Bank (FHLB) system to hold restricted stock of its district Federal Home Loan Bank according to a predetermined formula. FHLB stock is carried at cost and evaluated for impairment. When evaluating FHLB stock for impairment, its value is determined based on the ultimate recoverability of the par value of the stock. We evaluate our holdings of FHLB stock for impairment each reporting period. No December 31, 2020 2019. Loans Receivable Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of an allowance for loan losses and any deferred fees. Interest income is accrued on the unpaid principal balance. Loan origination fees and costs are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Bank is generally amortizing these amounts over the contractual life of the loan. The loans receivable portfolio is segmented into residential loans, commercial real estate loans, construction loans, commercial business, and consumer loans. The residential loan segment has two one four one four five The accrual of interest is generally discontinued when principal or interest has become 90 no Allowance for Loan Losses The allowance for loan losses represents management's estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectible are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. Because all identified losses are immediately charged off, no The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company's past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may The allowance consists of specific, general and unallocated components. The specific component relates to loans that are identified as impaired. For loans that are identified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These significant factors may A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A loan is considered a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor's financial difficulties, grants a concession to the debtor that it would not For loans secured by real estate, estimated fair values are determined primarily through third The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower's overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for all loans (except one four $500,000, may not may may not Loans Held for Sale Loans originated by the Bank's mortgage banking subsidiary, Quaint Oak Mortgage, LLC, are intended for sale in the secondary market and are carried at the lower of cost or fair value (LOCOM). Gains and losses on loan sales (sales proceeds minus carrying value) are recorded in noninterest income, and direct loan origination costs, commissions and fees are deferred at origination of the loan and are recognized in noninterest income upon sale of the loan. To a lesser extent, the Bank originates commercial business loans for the purchase of business essential equipment for sale primarily to other financial institutions. Bank Owned Life Insurance ( BOLl ) The Company purchases bank owned life insurance as a mechanism for funding various employee benefit costs. The Company is the beneficiary of these policies that insure the lives of certain officers of its subsidiaries. The Company has recognized the cash surrender value under the insurance policies as an asset in the Consolidated Balance Sheets. Changes in the cash surrender value are recorded in non-interest income in the Consolidated Statements of Income. Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the expected useful lives of the related assets that range from three thirty-nine Intangible Assets Intangible assets on the consolidated balance sheets represent the acquisition by Quaint Oak Insurance Agency of the renewal rights to a book of business on August 1, 2016 $1.0 $515,000 $485,000 ten The Company will complete a goodwill and other intangible asset analysis at least on an annual basis or more often if events and circumstances indicate that there may Other Real Estate Owned Other real estate owned or foreclosed assets are comprised of property acquired through a foreclosure proceeding or acceptance of a deed in lieu of foreclosure and loans classified as in-substance foreclosures. A loan is classified as in-substance foreclosure when the Bank has taken possession of the collateral regardless of whether formal foreclosure proceedings take place. Other real estate properties are initially recorded at fair value, net of estimated selling costs at the date of foreclosure, establishing a new cost basis. After foreclosure, valuations are periodically performed by management and the real estate is carried at the lower of cost or fair value less estimated costs to sell. Net revenue and expenses from operations and additions to the valuation allowance are included in other expenses. The Company had one $286,000 December 31, 2020. four $1.8 December 31, 2019. Mortgage Servicing Rights Included in other assets are mortgage servicing rights recognized as separate assets when mortgage loans are sold and the servicing rights are retained. These capitalized mortgage servicing rights are amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing period of the underlying mortgage loans. Mortgage servicing rights totaled $136,000 $128,000 December 31, 2020 2019, December 31, 2020 2019, $17,000 $13,000 Advertising Costs The Company expenses all advertising costs as incurred. Advertising costs are included in non-interest expense on the Consolidated Statements of Income. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not The Company follows guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. A tax position is recognized as a benefit only if it is more likely than not 50 not not no no December 31, 2020 2019. no January 1, 2017. Comprehensive Income (Loss) Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the stockholders' equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). Treasury Stock and Unallocated Common Stock The acquisition of treasury stock by the Company, including unallocated stock held by certain benefit plans, is recorded under the cost method. At the date of subsequent reissue, treasury stock is reduced by the cost of such stock based on an average cost method with any excess proceeds credited to additional paid-in capital. Share-Based Compensation Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost is measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock option and restricted share plans. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees' service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Scholes model is used to estimate the fair value of stock options, while the closing price of the Company's common stock on the grant date is used for restricted stock awards. At December 31, 2020, three 2008 2013 2018 May 2013 2018. 14. The Company also has an employee stock ownership plan (“ESOP”). This plan is more fully described in Note 14. 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 unearned ESOP shares, unvested restricted stock (RRP) shares and treasury shares. Stock options and unvested restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent they would have a dilutive effect if converted to common stock, computed using the “treasury stock” method. Revenue from Contracts with Customers The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers ( Topic 606 ) 606, The Company's primary sources of revenue are derived from interest and dividends earned on loans and investment securities, mortgage banking revenue, including gains on the sale of mortgage loans, income from bank-owned life insurance, and other financial instruments that are not 606. Service Charges on Deposits Abstract Title Fees Real Estate Sales Commissions, Net Insurance Commissions : not one no Off-Balance Sheet Financial Instruments In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded. Reclassifications Certain items in the 2019 2020 not Recently Adopted Accounting Pronouncements In February 2016, 2016 02, 842 one 12 not may December 15, 2021, December 31, 2022. may not 1 Recent Accounting Pronouncements Not In June 2016, 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, 2016 13 December 15, 2019, December 15, 2018. first In November 2019, 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 2016 13 December 15, 2022, one first one In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2019. November 2019, 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 350, Intangibles Goodwill and Other December 15, 2022, not In May 2019, 2019 05, Financial Instruments Credit Losses, Topic 326 825 10.3. not 2016 13. not 2016 13, 2016 13. 2016 13, 2019 05 December 15, 2019, 2016 13 November, 2019, 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 944 , Financial Services Insurance December 15, 2021, December 15, 2023, December 15, 2024. not In December 2019, 2019 12, Income Taxes (Topic 740 not not December 15, 2020. December 15, 2021, December 15, 2022. not In March 2020, 2020 03, Codification Improvements to Financial Instruments 2016. seven not 825, 842 326. 2019 04 December 15, 2019, not 2016 01. 2016 13 not 2016 13. not 2016 13. 2016 13 December 15, 2019, not In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 2020, not not one December 31, 2022. In October 2020, 2020 08, Codification Improvements to Subtopic 310 20, Nonrefundable Fees and Other Costs 310 20 35 33. 2020 08 December 15, 2020. not 2020 08 December 15, 2021, December 15, 2022. In January 2021, 2021 01, Reference Rate Reform (Topic 848 848. 2021 01 848. 2021 01 may March 12, 2020, not December 31, 2022, December 31, 2022, December 31, 2022,

Note 3 - Earnings Per Share

Note 3 - Earnings Per Share12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]Note 3 Earnings Per Share Earnings per share (“EPS”) consists of two not December 31, 2020 2019, The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computations. For the Year Ended December 31, 2020 2019 Net Income $ 3,245,000 $ 2,477,000 Weighted average shares outstanding – basic 1,975,836 1,956,612 Effect of dilutive common stock equivalents 36,563 48,826 Adjusted weighted average shares outstanding – diluted 2,012,399 2,005,438 Basic earnings per share $ 1.64 $ 1.27 Diluted earnings per share $ 1.61 $ 1.24

Note 4 - Accumulated Other Comp

Note 4 - Accumulated Other Comprehensive Income (Loss)12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]Note 4 Accumulated Other Comprehensive Income (Loss) The following table presents the changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ended December 31, 2020 2019 Unrealized Losses on Investment Securities Available for Sale (1) 2020 2019 Balance beginning of the year $ 20 $ (2 ) Other comprehensive income before reclassifications 98 19 Amount reclassified from accumulated other comprehensive income (loss) -- 3 Total other comprehensive income 98 22 Balance end of the year $ 118 $ 20 _______________________ ( 1 All amounts are net of tax. Amounts in parentheses indicate debits. The following table presents significant amounts reclassified out of each component of accumulated other comprehensive income for the years ended December 31, 2020 2019 Details About Other Comprehensive Income Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Statement of Income For the Year Ended December 31, 2020 2019 Unrealized losses on investment securities available for sale $ -- $ (4 ) Loss on sales of investment securities -- 1 Income taxes $ -- $ (3 ) _______________________ ( 1

Note 5 - Investment in Interest

Note 5 - Investment in Interest-earning Time Deposits12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Investments and Other Noncurrent Assets [Text Block]Note 5 Investment in Interest-Earning Time Deposits The investment in interest-earning time deposits as of December 31, 2020 2019, 2020 2019 Due in one year or less $ 4,006 $ 2,026 Due after one year through five years 5,457 8,146 Total $ 9,463 $ 10,172

Note 6 - Investment Securities

Note 6 - Investment Securities Available for Sale12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]Note 6 Investment Securities Available for Sale The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale at December 31, 2020 2019 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 4,887 $ 27 $ (1 ) $ 4,913 Federal National Mortgage Association securities 183 6 -- 189 Total mortgage-backed securities 5,070 33 (1 ) 5,102 Debt securities: Corporate notes 5,506 117 -- 5,623 Total available-for-sale-securities $ 10,576 $ 150 $ (1 ) $ 10,725 December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,841 $ 13 $ (1 ) $ 5,853 Federal National Mortgage Association securities 258 2 -- 260 Total mortgage-backed securities 6,099 15 (1 ) 6,113 Debt securities: Corporate notes 1,500 10 -- 1,510 Total available-for-sale-securities $ 7,599 $ 25 $ (1 ) $ 7,623 The amortized cost and fair value of mortgage-backed and debt securities at December 31, 2020, may Available for Sale Amortized Cost Fair Value Due after five through ten years $ 5,506 $ 5,102 Due after ten years 5,070 5,623 Total $ 10,576 $ 10,725 The following tables show the Company's gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2020 2019 December 31, 2020 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Government National Mortgage Association securities 1 $ 681 $ (1 ) $ -- $ -- $ 681 $ (1 ) December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Government National Mortgage Association securities 4 $ 2,295 $ (1 ) $ -- $ -- $ 2,295 $ (1 ) At December 31, 2020, one 0.13% may not December 31, 2020 no December 31, 2020 2019.

Note 7 - Loans Receivable, Net

Note 7 - Loans Receivable, Net and Allowance for Loan Losses12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Financing Receivables [Text Block]Note 7 The composition of net loans receivable is as follows (in thousands): December 31, 2020 December 31, 2019 Real estate loans: One-to-four family residential: Owner occupied $ 7,528 $ 6,298 Non-owner occupied 38,884 39,897 Total one-to-four family residential 46,412 46,195 Multi-family (five or more) residential 24,043 22,233 Commercial real estate 131,820 119,323 Construction 4,775 12,523 Home equity 3,788 3,726 Total real estate loans 210,838 204,000 Commercial business 154,387 45,745 Other consumer 17 22 Total Loans 365,242 249,767 Deferred loan fees and costs (3,059 ) (844 ) Allowance for loan losses (3,061 ) (2,231 ) Net Loans $ 359,122 $ 246,692 The following tables present the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of December 31, 2020 2019 December 31, 2020 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,942 $ 415 $ 171 $ -- $ 7,528 One-to-four family residential non-owner occupied 38,567 -- 317 -- 38,884 Multi-family residential 24,043 -- -- -- 24,043 Commercial real estate 129,236 2,292 292 -- 131,820 Construction 4,775 -- -- -- 4,775 Home equity 3,788 -- -- -- 3,788 Commercial business 154,387 -- -- -- 154,387 Other consumer 17 -- -- -- 17 Total $ 361,755 $ 2,707 $ 780 $ -- $ 365,242 December 31, 2019 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,126 $ -- $ 172 $ -- $ 6,298 One-to-four family residential non-owner occupied 39,579 -- 318 -- 39,897 Multi-family residential 22,233 -- -- -- 22,233 Commercial real estate 118,233 798 292 -- 119,323 Construction 12,523 -- -- -- 12,523 Home equity 3,726 -- -- -- 3,726 Commercial business 45,745 -- -- -- 45,745 Other consumer 22 -- -- -- 22 Total $ 248,187 $ 798 $ 782 $ -- $ 249,767 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not December 31, 2020 December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 171 $ 178 $ -- $ 171 $ 1 One-to-four family residential non-owner occupied 19 19 -- 19 3 Multi-family residential -- -- -- -- -- Commercial real estate 131 131 -- 131 1 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- -- -- -- -- Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- -- -- Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ 171 178 $ -- $ 171 $ 1 One-to-four family residential non-owner occupied 19 19 -- 19 3 Multi-family residential -- -- -- -- -- Commercial real estate 131 131 -- 131 1 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 321 $ 328 $ -- $ 321 $ 5 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not December 31, 2019 December 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 172 $ 178 $ -- $ 178 $ -- One-to-four family residential non-owner occupied 19 19 -- 225 13 Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- -- -- Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- -- -- -- -- Multi-family residential -- -- -- -- -- Commercial real estate 132 132 4 133 12 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ 172 178 $ -- $ 178 $ -- One-to-four family residential non-owner occupied 19 19 -- 225 13 Multi-family residential -- -- -- -- -- Commercial real estate 132 132 4 133 12 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 323 $ 329 $ 4 $ 536 $ 25 The loan portfolio also includes certain loans that have been modified in a troubled debt restructuring, where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from loss mitigation activities and could include reductions in the interest rate, payment extensions, forbearance, or other actions. At December 31, 2020, two $150,000 one December 31, 2020. December 31, 2020, no December 31, 2019, two $151,000 not six The following tables present the Company's TDR loans as of December 31, 2020 2019 December 31, 2020 Number of Contracts Recorded Investment Non-Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 1 19 19 -- -- Multi-family residential -- -- -- -- -- Commercial real estate 1 131 -- 131 -- Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 2 $ 150 $ 19 $ 131 $ -- December 31, 2019 Number of Contracts Recorded Investment Non-Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 1 19 -- 19 -- Multi-family residential -- -- -- -- -- Commercial real estate 1 132 -- 132 4 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 2 $ 151 $ -- $ 151 $ 4 The contractual aging of the TDRs in the tables above as of December 31, 2020 2019 December 31, 2020 Current Past Due 30-89 Days Greater than 90 Days and Accruing Non-Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- -- -- 19 19 Multi-family residential -- -- -- -- -- Commercial real estate 131 -- -- -- 131 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 131 $ -- $ -- $ 19 $ 150 December 31, 2019 Current Past Due 30-89 Days Greater than 90 Days and Accruing Non-Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- 19 -- -- 19 Multi-family residential -- -- -- -- -- Commercial real estate 132 -- -- -- 132 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 132 $ 19 $ -- $ -- $ 151 Any reserve for an impaired TDR loan is based upon the present value of the future expected cash flows discounted at the loan's original effective rate or upon the fair value of the collateral less costs to sell, if the loan is deemed collateral dependent. At December 31, 2020 no The general practice of the Bank is to work with borrowers so that they are able to pay back their loan in full. If a borrower continues to be delinquent or cannot meet the terms of a TDR modification and the loan is determined to be uncollectible, the loan will be charged off. Following is a summary, by loan portfolio class, of changes in the allowance for loan losses for the year ended December 31, 2020 December 31, 2020 ( December 31, 2020 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 52 $ 351 $ 145 $ 854 $ 250 $ 19 $ 500 $ 60 $ 2,231 Charge-offs -- -- -- -- -- -- -- -- -- Recoveries -- -- -- -- -- -- -- -- -- Provision 36 11 84 433 (188 ) 1 263 190 830 Ending balance $ 88 $ 362 $ 229 $ 1,287 $ 62 $ 20 $ 763 $ 250 $ 3,061 Ending balance evaluated for impairment: Individually $ -- $ -- $ -- $ -- $ -- $ -- $ -- $ -- $ - Collectively $ 88 $ 362 $ 229 $ 1,287 $ 62 $ 20 763 $ 250 $ 3,061 Loans receivable: Ending balance $ 7,528 $ 38,884 $ 24,043 $ 131,820 $ 4,775 $ 3,788 $ 154,404 $ 365,242 Ending balance evaluated for impairment: Individually $ 171 $ 19 $ -- $ 131 $ -- $ -- $ -- $ 321 Collectively $ 7,357 $ 38,865 $ 24,043 $ 131,689 $ 4,775 $ 3,788 $ 154,404 $ 364,921 The Bank allocated increased allowance for loan loss provisions to the commercial real estate loan portfolio class for the year ended December 31, 2020, December 31, 2020, December 31, 2020, December 31, 2020, 19 December 31, 2020 19 Following is a summary, by loan portfolio class, of changes in the allowance for loan losses for the year ended December 31, 2019 December 31, 2019 ( December 31, 2019 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 51 $ 435 $ 156 $ 839 $ 175 $ 21 $ 247 $ 41 $ 1,965 Charge-offs -- (37 ) -- -- -- -- -- -- (37 ) Recoveries -- -- -- -- -- -- -- -- -- Provision 1 (47 ) (11 ) 15 75 (2 ) 253 19 303 Ending balance $ 52 $ 351 $ 145 $ 854 $ 250 $ 19 $ 500 $ 60 $ 2,231 Ending balance evaluated for impairment: Individually $ -- $ -- $ -- $ 4 $ -- $ -- $ -- $ -- $ 4 Collectively $ 52 $ 351 $ 145 $ 850 $ 250 $ 19 500 $ 60 $ 2,227 Loans receivable: Ending balance $ 6,298 $ 39,897 $ 22,233 $ 119,323 $ 12,523 $ 3,726 $ 45,767 $ 249,767 Ending balance evaluated for impairment: Individually $ 172 $ 19 $ -- $ 132 $ -- $ -- $ -- $ 323 Collectively $ 6,126 $ 39,878 $ 22,233 $ 119,191 $ 12,523 $ 3,726 $ 45,767 $ 249,444 The Bank allocated increased allowance for loan loss provisions to the commercial business loan portfolio class, the construction loan portfolio class, and the commercial real estate loan portfolio class for the year ended December 31, 2019, 1 4 December 31, 2019, The following table presents non-accrual loans by classes of the loan portfolio as of December 31, 2020 2019 December 31, 2020 December 31, 2019 One-to-four family residential owner occupied $ 171 $ 172 One-to-four family residential non-owner occupied 19 -- Multi-family residential -- -- Commercial real estate -- -- Construction -- -- Home equity -- -- Commercial business -- -- Other consumer -- -- Total $ 190 $ 172 Non-performing loans, which consist of non-accruing loans plus accruing loans 90 $643,000 $362,000 December 31, 2020 2019, For the years ended December 31, 2020 2019 no $1,000 $10,000 December 31, 2020 2019, The performance and credit quality of the loan portfolio are also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the past due status as of December 31, 2020 2019 December 31, 2020 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing One-to-four family residential owner occupied $ 822 $ 171 $ 993 $ 6,535 $ 7,528 $ -- One-to-four family residential non-owner occupied 189 66 255 38,629 38,884 66 Multi-family residential 1,947 -- 1,947 22,096 24,043 -- Commercial real estate 569 387 956 130,864 131,820 387 Construction 1,783 -- 1,783 2,992 4,775 -- Home equity -- -- -- 3,788 3,788 -- Commercial business 574 -- 574 153,813 154,387 -- Other consumer -- -- -- 17 17 -- Total $ 5,884 $ 624 $ 6,508 $ 358,734 $ 365,242 $ 453 December 31, 2019 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 1,199 $ 172 $ 1,371 $ 4,927 $ 6,298 $ -- One-to-four family residential non-owner occupied 1,069 -- 1,069 38,828 39,897 -- Multi-family residential -- -- -- 22,233 22,233 -- Commercial real estate 986 190 1,176 118,147 119,323 190 Construction 1,120 -- 1,120 11,403 12,523 -- Home equity -- -- -- 3,726 3,726 -- Commercial business 66 -- 66 45,679 45,745 -- Other consumer -- -- -- 22 22 -- Total $ 4,440 $ 362 $ 4,802 $ 244,965 $ 249,767 $ 190

Note 8 - Premises and Equipment

Note 8 - Premises and Equipment12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]Note 8 The components of premises and equipment at December 31, 2020 2019 2020 2019 Land and land improvements $ 292 $ 292 Buildings 1,553 1,695 Leasehold improvements 564 441 Furniture, fixtures and equipment 1,827 1,444 4,236 3,872 Accumulated depreciation (1,895 ) (1,646 ) Premises and equipment, net $ 2,341 $ 2,226 Depreciation expense for the years ended December 31, 2020 2019 $249,000 $200,000,

Note 9 - Goodwill and Other Int

Note 9 - Goodwill and Other Intangible, Net12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]Note 9 Goodwill and Other Intangible, Net On August 1, 2016, $1.0 $515,000 $485,000 ten December 31, 2020 $271,000, $214,000. December 31, 2020 2019 $49,000 Estimated amortization expense of other intangible for each of the next five 2021 $ 49 2022 49 2023 49 2024 49 2025 49 Thereafter 26 Total $ 271

Note 10 - Deposits

Note 10 - Deposits12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Deposit Liabilities Disclosures [Text Block]Note 10 Deposits and the weighted average interest rate at December 31, 2020 2019 2020 2019 Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Non-interest bearing checking accounts $ 54,202 -- % $ 15,775 -- % Passbook accounts 8 0.16 5 0.15 Savings accounts 1,570 0.20 1,722 0.20 Money market accounts 99,638 0.80 25,504 0.80 Certificate of deposit accounts 199,427 1.49 184,452 2.27 Total $ 354,845 1.03 % $ 227,458 1.87 % A summary of certificates of deposit by maturity at December 31, 2020 Years ending December 31: 2021 $ 101,170 2022 37,688 2023 37,135 2024 16,630 2025 6,804 Total $ 199,427 The aggregate amount of certificates of deposit with a minimum denomination of $250,000 $29.0 $29.9 December 31, 2020 2019,

Note 11 - Borrowings

Note 11 - Borrowings12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]Note 11 As of December 31, 2020, $159.7 $38.2 $36.3 December 31, 2020 2019, December 31, 2020, $613,000 no December 31, 2020 2019. $93.3 December 31, 2020. $48.1 December 31, 2020. Federal Home Loan Bank short-term borrowings and the weighted interest rate consist of the following at December 31, 2020 2019 At or For the Year Ended December 31, 2020 2019 FHLB short-term borrowings: Average balance outstanding $ 3,292 $ 5,585 Maximum amount outstanding at any month-end during the period 20,000 11,000 Balance outstanding at end of period 10,000 10,000 Average interest rate during the period 1.12 % 2.52 % Weighted average interest rate at end of period 0.41 % 1.81 % Federal Home Loan Bank long-term borrowings and the weighted interest rate consist of the following at December 31, 2020 2019 December 31, 2020 December 31, 2019 Fixed rate borrowings maturing: Amount Weighted Interest Rate Amount Weighted Interest Rate 2020 $ -- -- % $ 2,000 2.00 % 2021 5,000 2.20 5,000 2.20 2022 7,171 2.10 7,171 2.10 2023 7,000 2.16 7,000 2.16 2024 6,167 2.05 5,100 2.28 2025 2,855 1.25 -- -- Total FHLB long-term debt $ 28,193 2.03 % $ 26,271 2.16 % Federal Reserve Bank long-term borrowings increased to $48.1 December 31, 2020 zero December 31, 2019 0.35% two

Note 12 - Subordinated Debt

Note 12 - Subordinated Debt12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Subordinated Borrowings Disclosure [Text Block]Note 12 Subordinated Debt On December 27, 2018, $8.0 December 31, 2028, 6.50%. may, December 31, 2023, The balance and unamortized issuance costs of subordinated debt at December 31, 2020 Principal Unamortized Debt Issuance Costs Net 6.5% subordinated notes, due December 31, 2028 $ 8,000 $ 111 $ 7,899 All subordinated notes are not

Note 13 - Income Taxes

Note 13 - Income Taxes12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]Note 13 The components of income tax expense for the years ended December 31, 2020 2019 2020 2019 Federal: Current $ 1,442 $ 724 Deferred (566 ) (41 ) Total federal 876 683 State, current 416 267 Total $ 1,292 $ 950 The following table presents the reconciliation between the reported income tax expense and the income tax expense which would be computed by applying the normal federal income tax rate of 21% December 31, 2020 2019, 2020 2019 Amount Rate Amount Rate Federal income tax at statutory rate $ 953 21.0 % $ 719 21.0 % State tax, net of federal benefit 328 7.2 211 6.2 Stock compensation expense 23 0.5 30 0.9 Other (12 ) (0.3 ) (10 ) (0.2 ) Total $ 1,292 28.4 % $ 950 27.9 % The components of the net deferred tax asset at December 31, 2020 2019 2020 2019 Deferred tax assets: Allowance for loan losses $ 643 $ 468 Deferred loan fees 642 177 Stock-based compensation 6 8 Interest on non-accrual loans 3 2 Organization cost - 1 Total deferred tax assets 1,294 656 Deferred tax liabilities: Bank premises and equipment (168 ) (100 ) Unrealized gain on investment securities available for sale (31 ) (5 ) Intangible (17 ) (13 ) Total deferred tax liabilities (216 ) (118 ) Net Deferred Tax Asset $ 1,078 $ 538 The net deferred tax asset at December 31, 2020 2019 $1.1 $538,000, No December 31, 2020 2019,

Note 14 - Stock Compensation Pl

Note 14 - Stock Compensation Plans12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]Note 14 Stock Compensation Plans Employee Stock Ownership Plan The Company maintains an Employee Stock Ownership Plan (ESOP) for the benefit of employees who meet the eligibility requirements of the plan. Using proceeds from a loan from the Company, the ESOP purchased 8%, 222,180 2007. 7.75% 15 December 31, 2020, three 2007 Shares of the Company's common stock purchased by the ESOP are held in a suspense account and reported as unallocated common stock held by the ESOP in stockholders' equity until released for allocation to participants. As the debt is repaid, shares are released from collateral and are allocated to each eligible participant based on the ratio of each such participant's base compensation to the total base compensation of eligible plan participants. As the unearned shares are committed to be released and allocated among participants, the Company recognizes compensation expense equal to the average market value of the shares, and the shares become outstanding for earnings per share computations. During the years ended December 31, 2020 2019, $173,000 $186,000 The following table represents the components of the ESOP shares at December 31, 2020 2019: 2020 2019 Allocated shares 179,507 180,959 Unreleased shares 10,821 25,249 Total ESOP shares 190,328 206,208 Fair value of unreleased shares (in thousands) $ 160 $ 372 Stock Incentive Plans In May 2013, 2013 “2013 2013 May 2013 195,000 48,750, 25%, may 146,250 May 2018, 2018 “2018 2018 May 2018 155,000 38,750, 25%, may 116,250 As of December 31, 2020 28,266 2013 2018 11,750 2018 1,200 2013 2013 2018 five Recognition and Retention and Stock Incentive Plans A summary of option activity under the Company's Option Plan and 2013 2018 December 31, 2020 2019 December 31, 2020 2019 2020 2019 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the year 38,887 $ 13.30 48,608 $ 13.30 Granted -- -- -- -- Vested (9,421 ) 13.30 (9,721 ) 13.30 Forfeited (1,200 ) 13.30 -- -- Unvested at the end of the year 28,266 $ 13.30 38,887 $ 13.30 Compensation expense on the restricted stock awards is recognized ratably over the five December 31, 2020 2019, $129,000 $27,000 December 31, 2020 2019. December 31, 2020, $307,000 2.4 Stock Options In May 2008, 2008 May 2013, 2013 “2013 277,726 no February 13, 2018, 2013 2013 May 2013 195,000 48,750, 25%, may 146,250 May 2018, 2018 “2018 2018 May 2018 155,000 38,750, 25%, may 116,250 All incentive stock options issued under the Option Plan and the 2013 2018 422 five ten   As of December 31, 2020, 240,636 2013 2018 37,250 2018 3,200 2013 none five ten A summary of option activity under the Company's Option Plan and Stock Incentive Plan for the years ended December 31, 2020 2019 December 31, 2020 2019 2020 2019 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the year 256,336 $ 10.87 6.0 279,836 $ 10.64 6.8 Granted -- -- -- -- -- -- Exercised (12,500 ) 8.10 -- (23,500 ) 8.10 -- Forfeited (3,200 ) 13.30 -- -- -- -- Outstanding at the end of the period 240,636 $ 10.98 5.5 256,336 $ 10.87 6.0 Exercisable at the end of the period 161,054 $ 9.84 5.4 147,027 $ 9.07 4.8 The estimated fair value of the options granted in May 2018 $1.75 Expected dividend yield 2.11 % Risk-free interest rate 2.96 % Expected life of options (in years) 6.5 Expected stock-price volatility 12.42 % The dividend yield was calculated on the dividend amount and stock price existing at the grant date. The risk free interest rate used was based on the rates of United States Treasury securities with maturities equal to the expected lives of the options. Although the contractual term of the options granted is ten may At December 31, 2020, $906,000 $791,000. December 31, 2019, $994,000 $836,000. December 31, 2020 December 31, 2019. During both the years ended December 31, 2020 2019, $44,000 $2,000 December 31, 2020, $105,000 2.4

Note 15 - Transactions With Exe

Note 15 - Transactions With Executive Officers and Directors12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]Note 15 Certain directors and executive officers of the Company, their families and their affiliates are customers of the Bank. Any transactions with such parties, including loans and commitments, are in the ordinary course of business at normal terms, including interest rate and collateralization, prevailing at the time and do not None December 31, 2019 2018,

Note 16 - Financial Instruments

Note 16 - Financial Instruments With Off-balance Sheet Risk12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]Note 16 The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. A summary of the Company's financial instrument commitments at December 31, 2020 2019 2020 2019 Commitments to originate loans $ 17,631 $ 10,184 Unfunded commitments under lines of credit 22,431 15,181 Standby letters of credit 1,621 38 Commitments to extend credit are agreements to lend to a customer as long as there is no may not may

Note 17 - Leases

Note 17 - Leases12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]Note 17 The Company leases its office at 501 2016 02, Leases (Topic 842 three 842 The Company has elected to account for the variable nonlease components, such as common area maintenance charges, utilities, real estate taxes, and insurance, separately from the lease component. Such variable nonlease components are reported in net occupancy expense on the Consolidated Statements of Income when paid. These variable nonlease components were excluded from the calculation of the present value of the remaining lease payments, therefore, they are not $208,000 December 31, 2020 $139,000 December 31, 2019. Certain of the Company's leases contain options to renew the lease after the initial term. Management considers the Corporation's historical pattern of exercising renewal options on leases and the positive performance of the leased locations, when determining whether it is reasonably certain that the leases will be renewed. If management concludes that there is reasonable certainty about the renewal option, it is included in the calculation of the remaining term of each applicable lease. The discount rate utilized in calculating the present value of the remaining lease payments for each lease was the Federal Home Loan Bank of Pittsburgh advance rate corresponding to the remaining maturity of the lease. The following table presents the weighted-average remaining lease term and discount rate for the leases outstanding at December 31, 2020. Operating Weighted average remaining term (years) 11.0 Weighted average discount rate 3.09 % The following table presents the undiscounted cash flows due related to operating leases as of December 31, 2020, Undiscounted cash flows due (In thousands): Operating 2021 $ 207 2022 213 2023 219 2024 308 2025 219 2026 and thereafter 1,111 Total undiscounted cash flows 2,277 Discount on cash flows (440 ) Total lease liabilities $ 1,837 Under Topic 842, not twelve not December 31, 2020, no twelve Rental expense under operating leases totaled approximately $255,000 2020 $187,000 2019.

Note 18 - Regulatory Matters

Note 18 - Regulatory Matters12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]Note 18 The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank's assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth below) of total, Tier 1, 1 1 December 31, 2020, In July 2013 January 1, 2019. 1 1 1 4.5% January 1, 2015. 1 4.0% 6.0% January 1, 2015. 2.5% January 1, 2016 January 1, 2019. 100% 150% 90 1 1 Bank holding companies are generally subject to statutory capital requirements, which were implemented by certain of the new capital regulations described above that became effective on January 1, 2015. On December 27, 2018, $8.0 12 $6.5 1 December 31, 2020 no December 31, 2020 not The Bank's actual capital amounts and ratios at December 31, 2020 2019 Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2020: Total capital (to risk-weighted assets) $ 37,084 14.52 % > > % > > % Tier 1 capital (to risk-weighted assets) 33,996 13.31 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 33,996 13.31 > > > > Tier 1 capital (to average assets) 33,996 8.56 > > > > Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk-weighted assets) $ 33,087 14.41 % > > % > > % Tier 1 capital (to risk-weighted assets) 30,829 13.42 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 30,829 13.42 > > > > Tier 1 capital (to average assets) 30,829 10.35 > > > > Under the Dodd-Frank Wall Street Reform and Consumer Protection Act the Board of Governors of the Federal Reserve System as the primary regulator for the Company is authorized to extend leverage capital requirements and risk based capital requirements applicable to depository institutions and bank holding companies to thrift holding companies. Legislation adopted in late 2014 Banking regulations place certain restrictions on dividends paid by the Bank to the Company. The Company is dependent upon dividends from the Bank to provide funds for the payment of dividends to the Company's shareholders, interest payments on the subordinated debt and other general corporate purposes. The Bank's ability to pay cash dividends directly or indirectly to the Company is governed by federal law, regulations and related guidance. These include the requirement that the Bank must receive approval to declare a dividend if the total amount of all dividends, including the proposed dividend, declared by the Bank in any current year exceeds the total of the Bank's net income for the current year to date, combined with its retained net income for the previous two The Bank may not may In 2020, $500,000 2019, not December 31, 2020, December 31, 2020 2019 $6.0

Note 19 - Fair Value Measuremen

Note 19 - Fair Value Measurements and Fair Values of Financial Instruments12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]Note 19 Fair Value Measurements and Fair Values of Financial Instruments Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair values estimates may not not may Fair value is determined at one not not not not The following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. The three Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Valuations derived from valuation techniques in which one This hierarchy requires the use of observable market data when available. The methods of determining the fair value of assets and liabilities presented in this note are consistent with our methodologies disclosed in Note 18 2020 10 3 The following is a discussion of assets and liabilities measured at fair value on a recurring and non-recurring basis and valuation techniques applied: Investment Securities Available For Sale: 1 2 We may Impaired Loans: 3 Other Real Estate Owned: 3 The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of December 31, 2020 ( December 31, 2020 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 4,913 $ -- $ 4,913 $ -- Federal National Mortgage Association mortgage- backed securities 189 -- 189 -- Corporate notes 5,623 -- 5,623 -- Total investment securities available for sale $ 10,725 $ -- $ 10,725 $ -- Total recurring fair value measurements $ 10,725 $ -- $ 10,725 $ -- Nonrecurring fair value measurements Impaired loans $ 321 $ -- $ -- $ 321 Other Real Estate Owned 286 -- -- 286 Total nonrecurring fair value measurements $ 607 $ -- $ -- $ 607 The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of December 31, 2019 ( December 31, 2019 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,853 $ -- $ 5,853 $ -- Federal National Mortgage Association mortgage- backed securities 260 -- 260 -- Corporate notes 1,510 -- 1,510 -- Total investment securities available for sale $ 7,623 $ -- $ 7,623 $ -- Total recurring fair value measurements $ 7,623 $ -- $ 7,623 $ -- Nonrecurring fair value measurements Impaired loans $ 319 $ -- $ -- $ 319 Other Real Estate Owned 1,824 -- -- 1,824 Total nonrecurring fair value measurements $ 2,143 $ -- $ -- $ 2,143 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has used Level 3 December 31, 2020 2019 December 31, 2020 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 321 Appraisal of collateral (1) Appraisal adjustments (2) 8% (8%) Other real estate owned $ 286 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 12% (12%) December 31, 2019 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 319 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 3% (1%) Other real estate owned $ 1,824 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 12% (12%) _______________ ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 ( 2 Appraisals may The estimated fair values of the Company's financial instruments that are not December 31, 2020 2019 Fair Value Measurements at December 31, 2020 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 9,463 $ 10,536 $ -- $ -- $ 10,536 Loans held for sale 53,191 62,396 -- 62,396 -- Loans receivable, net 359,122 363,527 -- -- 363,527 Financial Liabilities Deposits 354,845 358,112 55,417 -- 202,695 FHLB long-term borrowings 28,193 28,284 -- -- 28,284 FRB long-term borrowings 48,134 48,126 - - 48,126 Subordinated debt 7,899 8,283 - - 8,283 Fair Value Measurements at December 31, 2019 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 10,172 $ 10,536 $ -- $ -- $ 10,536 Loans held for sale 8,928 9,205 -- 9,205 -- Loans receivable, net 246,692 250,550 -- -- 250,550 Financial Liabilities Deposits 227,458 230,521 43,006 -- 187,515 FHLB long-term borrowings 26,271 26,292 -- -- 26,292 Subordinated debt 7,865 8,146 -- -- 8,146 For cash and cash equivalents, accrued interest receivable, investment in FHLB stock, bank-owned life insurance, FHLB short-term borrowings, accrued interest payable, and advances from borrowers for taxes and insurance, the carrying value is a reasonable estimate of the fair value and are considered Level 1

Note 20 - Operating Segments

Note 20 - Operating Segments12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]Note 20 Operating Segments The Company's operations currently consist of two two The Banking Segment generates its revenues primarily from its lending, deposit gathering and fee business activities. The profitability of this segment's operations depends primarily on its net interest income after provision for credit losses, which is the difference between interest earned on interest earning assets and interest paid on interest bearing liabilities less provision for credit losses. The provision for credit losses is almost entirely dependent on changes in the Banking Segment's loan portfolio and management's assessment of the collectability of the loan portfolio as well as prevailing economic and market conditions. The profitability of this segment's operations also depends on the generation of non-interest income which includes fees and commissions generated by Quaint Oak Bank and its wholly-owned subsidiaries, Quaint Oak Real Estate, LLC, Quaint Oak Abstract, LLC, and Quaint Oak Insurance Agency, LLC which are included in the Banking Segment for segment reporting purposes. The Banking Segment is also subject to an extensive system of laws and regulations that are intended primarily for the protection of depositors and other customers, federal deposit insurance funds and the banking system as a whole. These laws and regulations govern such areas as capital, permissible activities, allowance for loan and lease losses, loans and investments, and rates of interest that can be charged on loans. For segment reporting purposes, Quaint Oak Bancorp, Inc. is included as part of the Company's Banking segment. The Mortgage Banking Segment originates residential mortgage loans which are sold into the secondary market along with the loans' servicing rights. The profitability of this segment's operations depends primarily on the gains realized from the sale of loans and processing fees. The Mortgage Banking Segment is also subject to an extensive system of laws and regulations that are intended primarily for the protection of consumers. The following table present summary financial information for the reportable segments (in thousands): As of or for the Year Ended December 31, 2020 2019 Quaint Oak Bank(1) Quaint Oak Mortgage Consolidated Quaint Oak Bank(1) Quaint Oak Mortgage Consolidated Net Interest Income $ 11,190 $ (355 ) $ 10,835 $ 8,845 $ (160 ) $ 8,685 Provision for Loan Losses 830 -- 830 303 -- 303 Net Interest Income after Provision for Loan Losses 10,360 (355 ) 10,005 8,542 (160 ) 8,382 Non-Interest Income Mortgage banking and title abstract fees 923 656 1,579 649 503 1,152 Real estate sales commissions, net 159 -- 159 180 -- 180 Insurance commissions 490 -- 490 419 -- 419 Other fees and services charges 109 -- 109 68 -- 68 Income from bank-owned life insurance 80 -- 80 80 -- 80 Net gain on loans held for sale -- 4,320 4,320 1 3,013 3,014 Gain on the sale of SBA loans 115 -- 115 265 -- 265 Loss on sale of investment securities available for sale -- -- -- (4 ) -- (4 ) (Loss) gain on sales and write-downs of other real estate owned (197 ) -- (197 ) (221 ) -- (221 ) Total Non-Interest Income 1,679 4,976 6,655 1,437 3,516 4,953 Non-Interest Expense Salaries and employee benefits 6,980 1,447 8,427 5,768 1,179 6,947 Directors' fees and expenses 232 -- 232 223 -- 223 Occupancy and equipment 631 282 913 478 214 692 Data processing 470 247 717 366 142 508 Professional fees 501 40 541 357 59 416 FDIC deposit insurance assessment 121 -- 121 15 -- 15 Other real estate owned expenses 42 -- 42 22 -- 22 Advertising 92 21 113 140 55 195 Amortization of other intangible 49 -- 49 49 -- 49 Other 909 59 968 780 61 841 Total Non-Interest Expense 10,027 2,096 12,123 8,198 1,710 9,908 Pretax Segment Profit $ 2,012 $ 2,525 $ 4,537 $ 1,781 $ 1,646 $ 3,427 Segment Assets $ 422,230 $ 61,845 $ 484,075 $ 286,986 $ 15,554 $ 302,540 __________________ ( 1 Includes Quaint Oak Bancorp, Inc. and the Bank's Subsidiaries, Quaint Oak Real Estate, Quaint Oak Abstract, Quaint Oak Insurance Agency, and QOB Properties.

Note 21 - Subsequent Events

Note 21 - Subsequent Events12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]Note 21 Subsequent Events Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including estimates inherent in the process of preparing financial statements. Nonrecognized subsequent events are events that provide evidence about conditions that did not On January 4, 2021, $3.0 51% second 50 1998. 2015.

Note 22 - Quaint Oak Bancorp, I

Note 22 - Quaint Oak Bancorp, Inc. (Parent Company Only)12 Months Ended
Dec. 31, 2020
Notes to Financial Statements
Condensed Financial Information of Parent Company Only Disclosure [Text Block]Note 22 Quaint Oak Bancorp, Inc. (Parent Company Only) Condensed financial statements of Quaint Oak Bancorp, Inc. are as follows (in thousands): Balance Sheets December 31, 2020 2019 Assets Cash and cash equivalents $ 333 $ 669 Investment in Quaint Oak Bank 34,766 31,512 Premises and equipment, net 1,513 1,559 Other assets 15 32 Total Assets $ 36,627 $ 33,772 Liabilities and Stockholders' Equity Subordinated debt $ 7,899 $ 7,865 Stockholders' equity 28,728 25,907 Total Liabilities and Stockholders' Equity $ 36,627 $ 33,772 Statements of Income For the Year Ended December 31, 2020 2019 Income Dividends from subsidiary $ 500 $ -- Interest income 2 20 Rental income 339 199 Total Income 841 219 Expenses Occupancy and equipment expense 96 120 Interest on subordinated debt 520 519 Other expenses 158 161 Total Expenses 774 800 Net Income (Loss) Before Income Taxes 67 (581 ) Equity in Undistributed Net Income of Subsidiary 3,087 2,936 Income Tax Benefit 91 122 Net Income $ 3,245 $ 2,477 Comprehensive Income $ 3,343 $ 2,499 Statements of Cash Flows For the Year Ended December 31, 2020 2019 Operating Activities Net income $ 3,245 $ 2,477 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Undistributed net income in subsidiary (3,087 ) (2,936 ) Depreciation expense 53 53 Amortization of subordinated debt issuance costs 34 34 Stock-based compensation expense 346 359 Decrease (increase) in other assets (52 ) (2 ) Net cash provided by (used in) operating activities 539 (15 ) Investing Activities Purchase of property and equipment (7 ) (125 ) Net cash used in investing activities (7 ) (125 ) Financing Activities Dividends paid (717 ) (676 ) Purchase of treasury stock (349 ) (339 ) Proceeds from the reissuance of treasury stock 97 38 Proceeds from the exercise of stock options 101 190 Net cash used in financing activities (868 ) (787 ) Net Decrease in Cash and Cash Equivalents (336 ) (927 ) Cash and Cash Equivalents-Beginning of Year 669 1,596 Cash and Cash Equivalents-End of Year $ 333 $ 669

Significant Accounting Policies

Significant Accounting Policies (Policies)12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Company's most significant estimates are the determination of the allowance for loan losses and valuation of deferred tax assets.
Concentration Risk, Credit Risk, Policy [Policy Text Block]Significant Group Concentrations of Credit Risk The Bank has a significant concentration of loans in Philadelphia County, Pennsylvania. The concentration of credit by type of loan is set forth in Note 7. December 31, 2020, one 36% 34%
Cash and Cash Equivalents, Policy [Policy Text Block]Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include non-interest earning and interest-earning demand deposits and money market accounts with various financial institutions, all of which mature within ninety
Investment, Policy [Policy Text Block]Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Securities classified as available for sale are those securities that the Company intends to hold for an indefinite period of time but not Securities classified as held to maturity are those debt securities the Company has both the intent and ability to hold to maturity regardless of the changes in market conditions, liquidity needs, or changes in general economic conditions. These securities are carried at cost adjusted for amortization of premium and accretion of discount, which are recognized in interest income using the interest method over the terms of the securities. The Company follows the accounting guidance related to recognition and presentation of other-than-temporary impairment. This accounting guidance specifies that (a) if a company does not not not not not not not no December 31, 2020 2019.
Federal Home Loan Bank Stock [Policy Text Block]Federal Home Loan Bank Stock Federal law requires a member institution of the Federal Home Loan Bank (FHLB) system to hold restricted stock of its district Federal Home Loan Bank according to a predetermined formula. FHLB stock is carried at cost and evaluated for impairment. When evaluating FHLB stock for impairment, its value is determined based on the ultimate recoverability of the par value of the stock. We evaluate our holdings of FHLB stock for impairment each reporting period. No December 31, 2020 2019.
Financing Receivable [Policy Text Block]Loans Receivable Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of an allowance for loan losses and any deferred fees. Interest income is accrued on the unpaid principal balance. Loan origination fees and costs are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Bank is generally amortizing these amounts over the contractual life of the loan. The loans receivable portfolio is segmented into residential loans, commercial real estate loans, construction loans, commercial business, and consumer loans. The residential loan segment has two one four one four five The accrual of interest is generally discontinued when principal or interest has become 90 no
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]Allowance for Loan Losses The allowance for loan losses represents management's estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectible are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. Because all identified losses are immediately charged off, no The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company's past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may The allowance consists of specific, general and unallocated components. The specific component relates to loans that are identified as impaired. For loans that are identified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These significant factors may A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A loan is considered a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor's financial difficulties, grants a concession to the debtor that it would not For loans secured by real estate, estimated fair values are determined primarily through third The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower's overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for all loans (except one four $500,000, may not may may not
Financing Receivable, Held-for-sale [Policy Text Block]Loans Held for Sale Loans originated by the Bank's mortgage banking subsidiary, Quaint Oak Mortgage, LLC, are intended for sale in the secondary market and are carried at the lower of cost or fair value (LOCOM). Gains and losses on loan sales (sales proceeds minus carrying value) are recorded in noninterest income, and direct loan origination costs, commissions and fees are deferred at origination of the loan and are recognized in noninterest income upon sale of the loan. To a lesser extent, the Bank originates commercial business loans for the purchase of business essential equipment for sale primarily to other financial institutions.
Bank Owned Life Insurance [Policy Text Block]Bank Owned Life Insurance ( BOLl ) The Company purchases bank owned life insurance as a mechanism for funding various employee benefit costs. The Company is the beneficiary of these policies that insure the lives of certain officers of its subsidiaries. The Company has recognized the cash surrender value under the insurance policies as an asset in the Consolidated Balance Sheets. Changes in the cash surrender value are recorded in non-interest income in the Consolidated Statements of Income.
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 computed on the straight-line method over the expected useful lives of the related assets that range from three thirty-nine
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]Intangible Assets Intangible assets on the consolidated balance sheets represent the acquisition by Quaint Oak Insurance Agency of the renewal rights to a book of business on August 1, 2016 $1.0 $515,000 $485,000 ten The Company will complete a goodwill and other intangible asset analysis at least on an annual basis or more often if events and circumstances indicate that there may
Financing Receivable, Real Estate Acquired Through Foreclosure [Policy Text Block]Other Real Estate Owned Other real estate owned or foreclosed assets are comprised of property acquired through a foreclosure proceeding or acceptance of a deed in lieu of foreclosure and loans classified as in-substance foreclosures. A loan is classified as in-substance foreclosure when the Bank has taken possession of the collateral regardless of whether formal foreclosure proceedings take place. Other real estate properties are initially recorded at fair value, net of estimated selling costs at the date of foreclosure, establishing a new cost basis. After foreclosure, valuations are periodically performed by management and the real estate is carried at the lower of cost or fair value less estimated costs to sell. Net revenue and expenses from operations and additions to the valuation allowance are included in other expenses. The Company had one $286,000 December 31, 2020. four $1.8 December 31, 2019.
Mortgage Servicing Rights [Policy Text Block]Mortgage Servicing Rights Included in other assets are mortgage servicing rights recognized as separate assets when mortgage loans are sold and the servicing rights are retained. These capitalized mortgage servicing rights are amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing period of the underlying mortgage loans. Mortgage servicing rights totaled $136,000 $128,000 December 31, 2020 2019, December 31, 2020 2019, $17,000 $13,000
Advertising Cost [Policy Text Block]Advertising Costs The Company expenses all advertising costs as incurred. Advertising costs are included in non-interest expense on the Consolidated Statements of Income.
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 surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not
Income Tax, Policy [Policy Text Block]Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not The Company follows guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. A tax position is recognized as a benefit only if it is more likely than not 50 not not no no December 31, 2020 2019. no January 1, 2017.
Comprehensive Income, Policy [Policy Text Block]Comprehensive Income (Loss) Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the stockholders' equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss).
Treasury Stock and Unallocated Common Stock [Policy Text Block]Treasury Stock and Unallocated Common Stock The acquisition of treasury stock by the Company, including unallocated stock held by certain benefit plans, is recorded under the cost method. At the date of subsequent reissue, treasury stock is reduced by the cost of such stock based on an average cost method with any excess proceeds credited to additional paid-in capital.
Share-based Payment Arrangement [Policy Text Block]Share-Based Compensation Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost is measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock option and restricted share plans. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees' service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Scholes model is used to estimate the fair value of stock options, while the closing price of the Company's common stock on the grant date is used for restricted stock awards. At December 31, 2020, three 2008 2013 2018 May 2013 2018. 14. The Company also has an employee stock ownership plan (“ESOP”). This plan is more fully described in Note 14.
Earnings Per Share, Policy [Policy Text Block]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 unearned ESOP shares, unvested restricted stock (RRP) shares and treasury shares. Stock options and unvested restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent they would have a dilutive effect if converted to common stock, computed using the “treasury stock” method.
Revenue from Contract with Customer [Policy Text Block]Revenue from Contracts with Customers The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers ( Topic 606 ) 606, The Company's primary sources of revenue are derived from interest and dividends earned on loans and investment securities, mortgage banking revenue, including gains on the sale of mortgage loans, income from bank-owned life insurance, and other financial instruments that are not 606. Service Charges on Deposits Abstract Title Fees Real Estate Sales Commissions, Net Insurance Commissions : not one no
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block]Off-Balance Sheet Financial Instruments In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded.
Reclassification, Comparability Adjustment [Policy Text Block]Reclassifications Certain items in the 2019 2020 not
New Accounting Pronouncements, Policy [Policy Text Block]Recently Adopted Accounting Pronouncements In February 2016, 2016 02, 842 one 12 not may December 15, 2018, may not 1 Recent Accounting Pronouncements Not In June 2016, 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, 2016 13 December 15, 2019, December 15, 2018. first In November 2019, 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 2016 13 December 15, 2022, one first one In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2019. November 2019, 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 350, Intangibles Goodwill and Other December 15, 2022, not In May 2019, 2019 05, Financial Instruments Credit Losses, Topic 326 825 10.3. not 2016 13. not 2016 13, 2016 13. 2016 13, 2019 05 December 15, 2019, 2016 13 November, 2019, 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 944 , Financial Services Insurance December 15, 2021, December 15, 2023, December 15, 2024. not In December 2019, 2019 12, Income Taxes (Topic 740 not not December 15, 2020. December 15, 2021, December 15, 2022. not In March 2020, 2020 03, Codification Improvements to Financial Instruments 2016. seven not 825, 842 326. 2019 04 December 15, 2019, not 2016 01. 2016 13 not 2016 13. not 2016 13. 2016 13 December 15, 2019, not In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 2020, not not one December 31, 2022. In October 2020, 2020 08, Codification Improvements to Subtopic 310 20, Nonrefundable Fees and Other Costs 310 20 35 33. 2020 08 December 15, 2020. not 2020 08 December 15, 2021, December 15, 2022. In January 2021, 2021 01, Reference Rate Reform (Topic 848 848. 2021 01 848. 2021 01 may March 12, 2020, not December 31, 2022, December 31, 2022, December 31, 2022,

Note 3 - Earnings Per Share (Ta

Note 3 - 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 Year Ended December 31, 2020 2019 Net Income $ 3,245,000 $ 2,477,000 Weighted average shares outstanding – basic 1,975,836 1,956,612 Effect of dilutive common stock equivalents 36,563 48,826 Adjusted weighted average shares outstanding – diluted 2,012,399 2,005,438 Basic earnings per share $ 1.64 $ 1.27 Diluted earnings per share $ 1.61 $ 1.24

Note 4 - Accumulated Other Co_2

Note 4 - Accumulated Other Comprehensive Income (Loss) (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] Unrealized Losses on Investment Securities Available for Sale (1) 2020 2019 Balance beginning of the year $ 20 $ (2 ) Other comprehensive income before reclassifications 98 19 Amount reclassified from accumulated other comprehensive income (loss) -- 3 Total other comprehensive income 98 22 Balance end of the year $ 118 $ 20
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] Details About Other Comprehensive Income Amount Reclassified from Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Statement of Income For the Year Ended December 31, 2020 2019 Unrealized losses on investment securities available for sale $ -- $ (4 ) Loss on sales of investment securities -- 1 Income taxes $ -- $ (3 )

Note 5 - Investment in Intere_2

Note 5 - Investment in Interest-earning Time Deposits (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Investments in Interest-Earning Time Deposits by Contractual Maturity [Table Text Block] 2020 2019 Due in one year or less $ 4,006 $ 2,026 Due after one year through five years 5,457 8,146 Total $ 9,463 $ 10,172

Note 6 - Investment Securitie_2

Note 6 - Investment Securities Available for Sale (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Available-for-sale Securities [Table Text Block] December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 4,887 $ 27 $ (1 ) $ 4,913 Federal National Mortgage Association securities 183 6 -- 189 Total mortgage-backed securities 5,070 33 (1 ) 5,102 Debt securities: Corporate notes 5,506 117 -- 5,623 Total available-for-sale-securities $ 10,576 $ 150 $ (1 ) $ 10,725 December 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,841 $ 13 $ (1 ) $ 5,853 Federal National Mortgage Association securities 258 2 -- 260 Total mortgage-backed securities 6,099 15 (1 ) 6,113 Debt securities: Corporate notes 1,500 10 -- 1,510 Total available-for-sale-securities $ 7,599 $ 25 $ (1 ) $ 7,623
Investments Classified by Contractual Maturity Date [Table Text Block] Available for Sale Amortized Cost Fair Value Due after five through ten years $ 5,506 $ 5,102 Due after ten years 5,070 5,623 Total $ 10,576 $ 10,725
Schedule of Unrealized Loss on Investments [Table Text Block] December 31, 2020 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Government National Mortgage Association securities 1 $ 681 $ (1 ) $ -- $ -- $ 681 $ (1 ) December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Government National Mortgage Association securities 4 $ 2,295 $ (1 ) $ -- $ -- $ 2,295 $ (1 )

Note 7 - Loans Receivable, Ne_2

Note 7 - Loans Receivable, Net and Allowance for Loan Losses (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] December 31, 2020 December 31, 2019 Real estate loans: One-to-four family residential: Owner occupied $ 7,528 $ 6,298 Non-owner occupied 38,884 39,897 Total one-to-four family residential 46,412 46,195 Multi-family (five or more) residential 24,043 22,233 Commercial real estate 131,820 119,323 Construction 4,775 12,523 Home equity 3,788 3,726 Total real estate loans 210,838 204,000 Commercial business 154,387 45,745 Other consumer 17 22 Total Loans 365,242 249,767 Deferred loan fees and costs (3,059 ) (844 ) Allowance for loan losses (3,061 ) (2,231 ) Net Loans $ 359,122 $ 246,692
Financing Receivable Credit Quality Indicators [Table Text Block] December 31, 2020 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,942 $ 415 $ 171 $ -- $ 7,528 One-to-four family residential non-owner occupied 38,567 -- 317 -- 38,884 Multi-family residential 24,043 -- -- -- 24,043 Commercial real estate 129,236 2,292 292 -- 131,820 Construction 4,775 -- -- -- 4,775 Home equity 3,788 -- -- -- 3,788 Commercial business 154,387 -- -- -- 154,387 Other consumer 17 -- -- -- 17 Total $ 361,755 $ 2,707 $ 780 $ -- $ 365,242 December 31, 2019 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,126 $ -- $ 172 $ -- $ 6,298 One-to-four family residential non-owner occupied 39,579 -- 318 -- 39,897 Multi-family residential 22,233 -- -- -- 22,233 Commercial real estate 118,233 798 292 -- 119,323 Construction 12,523 -- -- -- 12,523 Home equity 3,726 -- -- -- 3,726 Commercial business 45,745 -- -- -- 45,745 Other consumer 22 -- -- -- 22 Total $ 248,187 $ 798 $ 782 $ -- $ 249,767
Impaired Financing Receivables [Table Text Block] December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 171 $ 178 $ -- $ 171 $ 1 One-to-four family residential non-owner occupied 19 19 -- 19 3 Multi-family residential -- -- -- -- -- Commercial real estate 131 131 -- 131 1 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- -- -- -- -- Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- -- -- Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ 171 178 $ -- $ 171 $ 1 One-to-four family residential non-owner occupied 19 19 -- 19 3 Multi-family residential -- -- -- -- -- Commercial real estate 131 131 -- 131 1 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 321 $ 328 $ -- $ 321 $ 5 December 31, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 172 $ 178 $ -- $ 178 $ -- One-to-four family residential non-owner occupied 19 19 -- 225 13 Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- -- -- Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- -- -- -- -- Multi-family residential -- -- -- -- -- Commercial real estate 132 132 4 133 12 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ 172 178 $ -- $ 178 $ -- One-to-four family residential non-owner occupied 19 19 -- 225 13 Multi-family residential -- -- -- -- -- Commercial real estate 132 132 4 133 12 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 323 $ 329 $ 4 $ 536 $ 25
Financing Receivable, Troubled Debt Restructuring [Table Text Block] December 31, 2020 Number of Contracts Recorded Investment Non-Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 1 19 19 -- -- Multi-family residential -- -- -- -- -- Commercial real estate 1 131 -- 131 -- Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 2 $ 150 $ 19 $ 131 $ -- December 31, 2019 Number of Contracts Recorded Investment Non-Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 1 19 -- 19 -- Multi-family residential -- -- -- -- -- Commercial real estate 1 132 -- 132 4 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 2 $ 151 $ -- $ 151 $ 4
Contractual Aging of Troubled Debt Restructurings [Table Text Block] December 31, 2020 Current Past Due 30-89 Days Greater than 90 Days and Accruing Non-Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- -- -- 19 19 Multi-family residential -- -- -- -- -- Commercial real estate 131 -- -- -- 131 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 131 $ -- $ -- $ 19 $ 150 December 31, 2019 Current Past Due 30-89 Days Greater than 90 Days and Accruing Non-Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied -- 19 -- -- 19 Multi-family residential -- -- -- -- -- Commercial real estate 132 -- -- -- 132 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 132 $ 19 $ -- $ -- $ 151
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] December 31, 2020 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 52 $ 351 $ 145 $ 854 $ 250 $ 19 $ 500 $ 60 $ 2,231 Charge-offs -- -- -- -- -- -- -- -- -- Recoveries -- -- -- -- -- -- -- -- -- Provision 36 11 84 433 (188 ) 1 263 190 830 Ending balance $ 88 $ 362 $ 229 $ 1,287 $ 62 $ 20 $ 763 $ 250 $ 3,061 Ending balance evaluated for impairment: Individually $ -- $ -- $ -- $ -- $ -- $ -- $ -- $ -- $ - Collectively $ 88 $ 362 $ 229 $ 1,287 $ 62 $ 20 763 $ 250 $ 3,061 Loans receivable: Ending balance $ 7,528 $ 38,884 $ 24,043 $ 131,820 $ 4,775 $ 3,788 $ 154,404 $ 365,242 Ending balance evaluated for impairment: Individually $ 171 $ 19 $ -- $ 131 $ -- $ -- $ -- $ 321 Collectively $ 7,357 $ 38,865 $ 24,043 $ 131,689 $ 4,775 $ 3,788 $ 154,404 $ 364,921 December 31, 2019 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 51 $ 435 $ 156 $ 839 $ 175 $ 21 $ 247 $ 41 $ 1,965 Charge-offs -- (37 ) -- -- -- -- -- -- (37 ) Recoveries -- -- -- -- -- -- -- -- -- Provision 1 (47 ) (11 ) 15 75 (2 ) 253 19 303 Ending balance $ 52 $ 351 $ 145 $ 854 $ 250 $ 19 $ 500 $ 60 $ 2,231 Ending balance evaluated for impairment: Individually $ -- $ -- $ -- $ 4 $ -- $ -- $ -- $ -- $ 4 Collectively $ 52 $ 351 $ 145 $ 850 $ 250 $ 19 500 $ 60 $ 2,227 Loans receivable: Ending balance $ 6,298 $ 39,897 $ 22,233 $ 119,323 $ 12,523 $ 3,726 $ 45,767 $ 249,767 Ending balance evaluated for impairment: Individually $ 172 $ 19 $ -- $ 132 $ -- $ -- $ -- $ 323 Collectively $ 6,126 $ 39,878 $ 22,233 $ 119,191 $ 12,523 $ 3,726 $ 45,767 $ 249,444
Financing Receivable, Nonaccrual [Table Text Block] December 31, 2020 December 31, 2019 One-to-four family residential owner occupied $ 171 $ 172 One-to-four family residential non-owner occupied 19 -- Multi-family residential -- -- Commercial real estate -- -- Construction -- -- Home equity -- -- Commercial business -- -- Other consumer -- -- Total $ 190 $ 172
Financing Receivable, Past Due [Table Text Block] December 31, 2020 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing One-to-four family residential owner occupied $ 822 $ 171 $ 993 $ 6,535 $ 7,528 $ -- One-to-four family residential non-owner occupied 189 66 255 38,629 38,884 66 Multi-family residential 1,947 -- 1,947 22,096 24,043 -- Commercial real estate 569 387 956 130,864 131,820 387 Construction 1,783 -- 1,783 2,992 4,775 -- Home equity -- -- -- 3,788 3,788 -- Commercial business 574 -- 574 153,813 154,387 -- Other consumer -- -- -- 17 17 -- Total $ 5,884 $ 624 $ 6,508 $ 358,734 $ 365,242 $ 453 December 31, 2019 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 1,199 $ 172 $ 1,371 $ 4,927 $ 6,298 $ -- One-to-four family residential non-owner occupied 1,069 -- 1,069 38,828 39,897 -- Multi-family residential -- -- -- 22,233 22,233 -- Commercial real estate 986 190 1,176 118,147 119,323 190 Construction 1,120 -- 1,120 11,403 12,523 -- Home equity -- -- -- 3,726 3,726 -- Commercial business 66 -- 66 45,679 45,745 -- Other consumer -- -- -- 22 22 -- Total $ 4,440 $ 362 $ 4,802 $ 244,965 $ 249,767 $ 190

Note 8 - Premises and Equipme_2

Note 8 - Premises and Equipment (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block] 2020 2019 Land and land improvements $ 292 $ 292 Buildings 1,553 1,695 Leasehold improvements 564 441 Furniture, fixtures and equipment 1,827 1,444 4,236 3,872 Accumulated depreciation (1,895 ) (1,646 ) Premises and equipment, net $ 2,341 $ 2,226

Note 9 - Goodwill and Other I_2

Note 9 - Goodwill and Other Intangible, Net (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] 2021 $ 49 2022 49 2023 49 2024 49 2025 49 Thereafter 26 Total $ 271

Note 10 - Deposits (Tables)

Note 10 - Deposits (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Deposit Liabilities, Type [Table Text Block] 2020 2019 Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Non-interest bearing checking accounts $ 54,202 -- % $ 15,775 -- % Passbook accounts 8 0.16 5 0.15 Savings accounts 1,570 0.20 1,722 0.20 Money market accounts 99,638 0.80 25,504 0.80 Certificate of deposit accounts 199,427 1.49 184,452 2.27 Total $ 354,845 1.03 % $ 227,458 1.87 %
Certificate of Deposit by Maturity [Table Text Block] Years ending December 31: 2021 $ 101,170 2022 37,688 2023 37,135 2024 16,630 2025 6,804 Total $ 199,427

Note 11 - Borrowings (Tables)

Note 11 - Borrowings (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Short-term Debt [Table Text Block] At or For the Year Ended December 31, 2020 2019 FHLB short-term borrowings: Average balance outstanding $ 3,292 $ 5,585 Maximum amount outstanding at any month-end during the period 20,000 11,000 Balance outstanding at end of period 10,000 10,000 Average interest rate during the period 1.12 % 2.52 % Weighted average interest rate at end of period 0.41 % 1.81 %
Federal Home Loan Bank Advances [Member]
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block] December 31, 2020 December 31, 2019 Fixed rate borrowings maturing: Amount Weighted Interest Rate Amount Weighted Interest Rate 2020 $ -- -- % $ 2,000 2.00 % 2021 5,000 2.20 5,000 2.20 2022 7,171 2.10 7,171 2.10 2023 7,000 2.16 7,000 2.16 2024 6,167 2.05 5,100 2.28 2025 2,855 1.25 -- -- Total FHLB long-term debt $ 28,193 2.03 % $ 26,271 2.16 %

Note 12 - Subordinated Debt (Ta

Note 12 - Subordinated Debt (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Debt [Table Text Block] Principal Unamortized Debt Issuance Costs Net 6.5% subordinated notes, due December 31, 2028 $ 8,000 $ 111 $ 7,899

Note 13 - Income Taxes (Tables)

Note 13 - Income Taxes (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] 2020 2019 Federal: Current $ 1,442 $ 724 Deferred (566 ) (41 ) Total federal 876 683 State, current 416 267 Total $ 1,292 $ 950
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] 2020 2019 Amount Rate Amount Rate Federal income tax at statutory rate $ 953 21.0 % $ 719 21.0 % State tax, net of federal benefit 328 7.2 211 6.2 Stock compensation expense 23 0.5 30 0.9 Other (12 ) (0.3 ) (10 ) (0.2 ) Total $ 1,292 28.4 % $ 950 27.9 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] 2020 2019 Deferred tax assets: Allowance for loan losses $ 643 $ 468 Deferred loan fees 642 177 Stock-based compensation 6 8 Interest on non-accrual loans 3 2 Organization cost - 1 Total deferred tax assets 1,294 656 Deferred tax liabilities: Bank premises and equipment (168 ) (100 ) Unrealized gain on investment securities available for sale (31 ) (5 ) Intangible (17 ) (13 ) Total deferred tax liabilities (216 ) (118 ) Net Deferred Tax Asset $ 1,078 $ 538

Note 14 - Stock Compensation _2

Note 14 - Stock Compensation Plans (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] 2020 2019 Allocated shares 179,507 180,959 Unreleased shares 10,821 25,249 Total ESOP shares 190,328 206,208 Fair value of unreleased shares (in thousands) $ 160 $ 372
Share-based Payment Arrangement, Activity [Table Text Block] 2020 2019 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the year 38,887 $ 13.30 48,608 $ 13.30 Granted -- -- -- -- Vested (9,421 ) 13.30 (9,721 ) 13.30 Forfeited (1,200 ) 13.30 -- -- Unvested at the end of the year 28,266 $ 13.30 38,887 $ 13.30
Share-based Payment Arrangement, Option, Activity [Table Text Block] 2020 2019 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the year 256,336 $ 10.87 6.0 279,836 $ 10.64 6.8 Granted -- -- -- -- -- -- Exercised (12,500 ) 8.10 -- (23,500 ) 8.10 -- Forfeited (3,200 ) 13.30 -- -- -- -- Outstanding at the end of the period 240,636 $ 10.98 5.5 256,336 $ 10.87 6.0 Exercisable at the end of the period 161,054 $ 9.84 5.4 147,027 $ 9.07 4.8
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] Expected dividend yield 2.11 % Risk-free interest rate 2.96 % Expected life of options (in years) 6.5 Expected stock-price volatility 12.42 %

Note 16 - Financial Instrumen_2

Note 16 - Financial Instruments With Off-balance Sheet Risk (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Financial Instrument Commitments [Table Text Block] 2020 2019 Commitments to originate loans $ 17,631 $ 10,184 Unfunded commitments under lines of credit 22,431 15,181 Standby letters of credit 1,621 38

Note 17 - Leases (Tables)

Note 17 - Leases (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Lease, Cost [Table Text Block] Operating Weighted average remaining term (years) 11.0 Weighted average discount rate 3.09 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block] Undiscounted cash flows due (In thousands): Operating 2021 $ 207 2022 213 2023 219 2024 308 2025 219 2026 and thereafter 1,111 Total undiscounted cash flows 2,277 Discount on cash flows (440 ) Total lease liabilities $ 1,837

Note 18 - Regulatory Matters (T

Note 18 - 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 For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2020: Total capital (to risk-weighted assets) $ 37,084 14.52 % > > % > > % Tier 1 capital (to risk-weighted assets) 33,996 13.31 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 33,996 13.31 > > > > Tier 1 capital (to average assets) 33,996 8.56 > > > > Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk-weighted assets) $ 33,087 14.41 % > > % > > % Tier 1 capital (to risk-weighted assets) 30,829 13.42 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 30,829 13.42 > > > > Tier 1 capital (to average assets) 30,829 10.35 > > > >

Note 19 - Fair Value Measurem_2

Note 19 - Fair Value Measurements and Fair Values of Financial Instruments (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] December 31, 2020 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 4,913 $ -- $ 4,913 $ -- Federal National Mortgage Association mortgage- backed securities 189 -- 189 -- Corporate notes 5,623 -- 5,623 -- Total investment securities available for sale $ 10,725 $ -- $ 10,725 $ -- Total recurring fair value measurements $ 10,725 $ -- $ 10,725 $ -- Nonrecurring fair value measurements Impaired loans $ 321 $ -- $ -- $ 321 Other Real Estate Owned 286 -- -- 286 Total nonrecurring fair value measurements $ 607 $ -- $ -- $ 607 December 31, 2019 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,853 $ -- $ 5,853 $ -- Federal National Mortgage Association mortgage- backed securities 260 -- 260 -- Corporate notes 1,510 -- 1,510 -- Total investment securities available for sale $ 7,623 $ -- $ 7,623 $ -- Total recurring fair value measurements $ 7,623 $ -- $ 7,623 $ -- Nonrecurring fair value measurements Impaired loans $ 319 $ -- $ -- $ 319 Other Real Estate Owned 1,824 -- -- 1,824 Total nonrecurring fair value measurements $ 2,143 $ -- $ -- $ 2,143
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] December 31, 2020 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 321 Appraisal of collateral (1) Appraisal adjustments (2) 8% (8%) Other real estate owned $ 286 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 12% (12%) December 31, 2019 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 319 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 3% (1%) Other real estate owned $ 1,824 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 12% (12%)
Fair Value, by Balance Sheet Grouping [Table Text Block] Fair Value Measurements at December 31, 2020 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 9,463 $ 10,536 $ -- $ -- $ 10,536 Loans held for sale 53,191 62,396 -- 62,396 -- Loans receivable, net 359,122 363,527 -- -- 363,527 Financial Liabilities Deposits 354,845 358,112 55,417 -- 202,695 FHLB long-term borrowings 28,193 28,284 -- -- 28,284 FRB long-term borrowings 48,134 48,126 - - 48,126 Subordinated debt 7,899 8,283 - - 8,283 Fair Value Measurements at December 31, 2019 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 10,172 $ 10,536 $ -- $ -- $ 10,536 Loans held for sale 8,928 9,205 -- 9,205 -- Loans receivable, net 246,692 250,550 -- -- 250,550 Financial Liabilities Deposits 227,458 230,521 43,006 -- 187,515 FHLB long-term borrowings 26,271 26,292 -- -- 26,292 Subordinated debt 7,865 8,146 -- -- 8,146

Note 20 - Operating Segments (T

Note 20 - Operating Segments (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block] As of or for the Year Ended December 31, 2020 2019 Quaint Oak Bank(1) Quaint Oak Mortgage Consolidated Quaint Oak Bank(1) Quaint Oak Mortgage Consolidated Net Interest Income $ 11,190 $ (355 ) $ 10,835 $ 8,845 $ (160 ) $ 8,685 Provision for Loan Losses 830 -- 830 303 -- 303 Net Interest Income after Provision for Loan Losses 10,360 (355 ) 10,005 8,542 (160 ) 8,382 Non-Interest Income Mortgage banking and title abstract fees 923 656 1,579 649 503 1,152 Real estate sales commissions, net 159 -- 159 180 -- 180 Insurance commissions 490 -- 490 419 -- 419 Other fees and services charges 109 -- 109 68 -- 68 Income from bank-owned life insurance 80 -- 80 80 -- 80 Net gain on loans held for sale -- 4,320 4,320 1 3,013 3,014 Gain on the sale of SBA loans 115 -- 115 265 -- 265 Loss on sale of investment securities available for sale -- -- -- (4 ) -- (4 ) (Loss) gain on sales and write-downs of other real estate owned (197 ) -- (197 ) (221 ) -- (221 ) Total Non-Interest Income 1,679 4,976 6,655 1,437 3,516 4,953 Non-Interest Expense Salaries and employee benefits 6,980 1,447 8,427 5,768 1,179 6,947 Directors' fees and expenses 232 -- 232 223 -- 223 Occupancy and equipment 631 282 913 478 214 692 Data processing 470 247 717 366 142 508 Professional fees 501 40 541 357 59 416 FDIC deposit insurance assessment 121 -- 121 15 -- 15 Other real estate owned expenses 42 -- 42 22 -- 22 Advertising 92 21 113 140 55 195 Amortization of other intangible 49 -- 49 49 -- 49 Other 909 59 968 780 61 841 Total Non-Interest Expense 10,027 2,096 12,123 8,198 1,710 9,908 Pretax Segment Profit $ 2,012 $ 2,525 $ 4,537 $ 1,781 $ 1,646 $ 3,427 Segment Assets $ 422,230 $ 61,845 $ 484,075 $ 286,986 $ 15,554 $ 302,540

Note 22 - Quaint Oak Bancorp,_2

Note 22 - Quaint Oak Bancorp, Inc. (Parent Company Only) (Tables)12 Months Ended
Dec. 31, 2020
Notes Tables
Condensed Balance Sheet [Table Text Block] December 31, 2020 2019 Assets Cash and cash equivalents $ 333 $ 669 Investment in Quaint Oak Bank 34,766 31,512 Premises and equipment, net 1,513 1,559 Other assets 15 32 Total Assets $ 36,627 $ 33,772 Liabilities and Stockholders' Equity Subordinated debt $ 7,899 $ 7,865 Stockholders' equity 28,728 25,907 Total Liabilities and Stockholders' Equity $ 36,627 $ 33,772
Condensed Income Statement [Table Text Block] For the Year Ended December 31, 2020 2019 Income Dividends from subsidiary $ 500 $ -- Interest income 2 20 Rental income 339 199 Total Income 841 219 Expenses Occupancy and equipment expense 96 120 Interest on subordinated debt 520 519 Other expenses 158 161 Total Expenses 774 800 Net Income (Loss) Before Income Taxes 67 (581 ) Equity in Undistributed Net Income of Subsidiary 3,087 2,936 Income Tax Benefit 91 122 Net Income $ 3,245 $ 2,477 Comprehensive Income $ 3,343 $ 2,499
Condensed Cash Flow Statement [Table Text Block] For the Year Ended December 31, 2020 2019 Operating Activities Net income $ 3,245 $ 2,477 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Undistributed net income in subsidiary (3,087 ) (2,936 ) Depreciation expense 53 53 Amortization of subordinated debt issuance costs 34 34 Stock-based compensation expense 346 359 Decrease (increase) in other assets (52 ) (2 ) Net cash provided by (used in) operating activities 539 (15 ) Investing Activities Purchase of property and equipment (7 ) (125 ) Net cash used in investing activities (7 ) (125 ) Financing Activities Dividends paid (717 ) (676 ) Purchase of treasury stock (349 ) (339 ) Proceeds from the reissuance of treasury stock 97 38 Proceeds from the exercise of stock options 101 190 Net cash used in financing activities (868 ) (787 ) Net Decrease in Cash and Cash Equivalents (336 ) (927 ) Cash and Cash Equivalents-Beginning of Year 669 1,596 Cash and Cash Equivalents-End of Year $ 333 $ 669

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual)12 Months Ended
Dec. 31, 2020
Number of Wholly-Owned Subsidiaries5
Number of Subsidiary Branch Offices2

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual)Aug. 01, 2016USD ($)Dec. 31, 2020USD ($)Dec. 31, 2019USD ($)
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total $ 0 $ 0
Impairment of Federal Home Loan Bank Stock0 $ 0
Threshold for Loans to be Evaluated Annually, Minimum $ 500,000
Number of Properties, Other Real Estate1 4
Mortgage Loans in Process of Foreclosure, Amount $ 286,000 $ 1,800,000
Amortization of Mortgage Servicing Rights (MSRs) $ 17,000 13,000
Number of Share-Based Plans3
Mortgage Servicing Rights [Member]
Servicing Asset, Total $ 136,000 $ 128,000
Signature Insurance Services, LLC [Member]
Payments to Acquire Businesses, Gross $ 1,000,000
Goodwill, Acquired During Period515,000
Signature Insurance Services, LLC [Member] | Other Intangible Assets [Member]
Finite-lived Intangible Assets Acquired $ 485,000
Finite-Lived Intangible Asset, Useful Life (Year)10 years
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)39 years
Credit Concentration Risk [Member] | Loans Sold [Member]
Number of Investors1
Percentage of Loans Sold From Mortgage Loans Held for Sale36.00%
Percentage Gains on Loans Sold From Mortgage Loans Held for Sale34.00%

Note 3 - Earnings Per Share - W

Note 3 - Earnings Per Share - Weighted Average Shares Used in Basic and Dilutive Earnings Per Share Computations (Details) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Net Income $ 3,245,000 $ 2,477,000
Weighted average shares outstanding – basic (in shares)1,975,836 1,956,612
Effect of dilutive common stock equivalents (in shares)36,563 48,826
Adjusted weighted average shares outstanding – diluted (in shares)2,012,399 2,005,438
Basic earnings per share (in dollars per share) $ 1.64 $ 1.27
Diluted earnings per share (in dollars per share) $ 1.61 $ 1.24

Note 4 - Accumulated Other Co_3

Note 4 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Balance beginning of the year $ 25,907 $ 23,836
Balance end of the year28,728 25,907
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Balance beginning of the year[1]20 (2)
Other comprehensive income before reclassifications[1]98 19
Amount reclassified from accumulated other comprehensive income (loss)[1] 3
Net other comprehensive income[1]98 22
Balance end of the year[1] $ 118 $ 20
[1]All amounts are net of tax. Amounts in parentheses indicate debits.

Note 4 - Accumulated Other Co_4

Note 4 - Accumulated Other Comprehensive Income (Loss) - Reclassified Out of Accumulated other Comprehensive Loss (Details) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Unrealized losses on investment securities available for sale $ (4,000)
Income taxes(1,292,000)(950,000)
Net of tax3,245,000 2,477,000
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Unrealized losses on investment securities available for sale[1] (4,000)
Income taxes[1] 1,000
Net of tax[1] $ (3,000)
[1]Amounts in parentheses indicate debits.

Note 5 - Investment in Intere_3

Note 5 - Investment in Interest-earning Time Deposits - Investment in Interest-earnings Time Deposits (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Due in one year or less $ 4,006 $ 2,026
Due after one year through five years5,457 8,146
Total $ 9,463 $ 10,172

Note 6 - Investment Securitie_3

Note 6 - Investment Securities Available for Sale (Details Textual) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions1
Percentage of Aggregate Depreciation Held by Debt Securities0.13%
Other than Temporary Impairment Losses, Investments, Total $ 0 $ 0

Note 6 - Investment Securitie_4

Note 6 - Investment Securities Available for Sale - Amortized Cost and Fair Value of Investment Securities Available for Sale (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Amortized cost $ 10,576 $ 7,599
Gross unrealized gains150 25
Gross unrealized losses(1)(1)
Fair value10,725 7,623
Investment securities available for sale10,725 7,623
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Amortized cost5,070 6,099
Gross unrealized gains33 15
Gross unrealized losses(1)(1)
Fair value5,102 6,113
Investment securities available for sale5,102 6,113
Corporate Debt Securities [Member]
Amortized cost5,506 1,500
Gross unrealized gains117 10
Gross unrealized losses
Fair value5,623 1,510
Investment securities available for sale5,623 1,510
Government National Mortgage Association (GNMA) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Amortized cost4,887 5,841
Gross unrealized gains27 13
Gross unrealized losses(1)(1)
Fair value4,913 5,853
Investment securities available for sale4,913 5,853
Federal National Mortgage Association (FNMA) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Amortized cost183 258
Gross unrealized gains6 2
Gross unrealized losses
Fair value189 260
Investment securities available for sale $ 189 $ 260

Note 6 - Investment Securitie_5

Note 6 - Investment Securities Available for Sale - Debt Securities by Contractual Maturity (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Due after five years through ten years, amortized cost $ 5,506
Due after five years through ten years, fair value5,102
Due after ten years, amortized cost5,070
Due after ten years, fair value5,623
Total, amortized cost10,576 $ 7,599
Total, fair value $ 10,725 $ 7,623

Note 6 - Investment Securitie_6

Note 6 - Investment Securities Available for Sale - Gross Unrealized Losses and Fair Value (Details) $ in ThousandsDec. 31, 2020USD ($)Dec. 31, 2019USD ($)
Number of securities1
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member]
Number of securities1 4
Fair value, less than twelve months $ 681 $ 2,295
Gross unrealized losses, less than twelve months(1)(1)
Fair value, twelve months or greater
Gross unrealized losses, twelve months or greater
Fair value681 2,295
Gross unrealized losses $ (1) $ (1)

Note 7 - Loans Receivable, Ne_3

Note 7 - Loans Receivable, Net and Allowance for Loan Losses (Details Textual)12 Months Ended
Dec. 31, 2020USD ($)Dec. 31, 2019USD ($)
Troubled Debt Restructuring, Number of Contracts2 2
Financing Receivable, Troubled Debt Restructuring $ 150,000 $ 151,000
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend0
Loans and Leases Receivable, Gross, Total365,242,000 249,767,000
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total0 0
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans1,000 10,000
Nonperforming Financial Instruments [Member]
Loans and Leases Receivable, Gross, Total $ 643,000 $ 362,000

Note 7 - Loans Receivable, Ne_4

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Composition of Net Loans Receivable (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Loans $ 365,242 $ 249,767
Deferred loan fees and costs(3,059)(844)
Allowance for loan losses(3,061)(2,231) $ (1,965)
Net Loans359,122 246,692
Real Estate Portfolio Segment [Member]
Loans210,838 204,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Loans7,528 6,298
Allowance for loan losses(88)(52)(51)
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Loans38,884 39,897
Allowance for loan losses(362)(351)(435)
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Loans [Member]
Loans46,412 46,195
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Loans24,043 22,233
Allowance for loan losses(229)(145)(156)
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member]
Loans131,820 119,323
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans4,775 12,523
Allowance for loan losses(62)(250)(175)
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Loans3,788 3,726
Allowance for loan losses(20)(19) $ (21)
Commercial Portfolio Segment [Member]
Loans154,387 45,745
Consumer Portfolio Segment [Member]
Loans $ 17 $ 22

Note 7 - Loans Receivable, Ne_5

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Loan Portfolio by Credit Rating (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Loans $ 365,242 $ 249,767
Pass [Member]
Loans361,755 248,187
Special Mention [Member]
Loans2,707 798
Substandard [Member]
Loans780 782
Doubtful [Member]
Loans
Real Estate Portfolio Segment [Member]
Loans210,838 204,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Loans7,528 6,298
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Pass [Member]
Loans6,942 6,126
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Special Mention [Member]
Loans415
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Substandard [Member]
Loans171 172
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Doubtful [Member]
Loans
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Loans38,884 39,897
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Pass [Member]
Loans38,567 39,579
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Special Mention [Member]
Loans
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Substandard [Member]
Loans317 318
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Doubtful [Member]
Loans
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Loans24,043 22,233
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Pass [Member]
Loans24,043 22,233
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Special Mention [Member]
Loans
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Substandard [Member]
Loans
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Doubtful [Member]
Loans
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member]
Loans131,820 119,323
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Pass [Member]
Loans129,236 118,233
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Special Mention [Member]
Loans2,292 798
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Substandard [Member]
Loans292 292
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Doubtful [Member]
Loans
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans4,775 12,523
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member]
Loans4,775 12,523
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member]
Loans
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member]
Loans
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member]
Loans
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Loans3,788 3,726
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Pass [Member]
Loans3,788 3,726
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Special Mention [Member]
Loans
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Substandard [Member]
Loans
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Doubtful [Member]
Loans
Commercial Portfolio Segment [Member]
Loans154,387 45,745
Commercial Portfolio Segment [Member] | Pass [Member]
Loans154,387 45,745
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans
Commercial Portfolio Segment [Member] | Doubtful [Member]
Loans
Consumer Portfolio Segment [Member]
Loans17 22
Consumer Portfolio Segment [Member] | Pass [Member]
Loans17 22
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans

Note 7 - Loans Receivable, Ne_6

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Impaired Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Related allowance $ 4
Recorded investment321 323
Unpaid principal balance328 329
Average recorded investment321 536
Interest income recognized5 25
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Recorded investment, with no related allowance recorded171 172
Unpaid principal balance, with no related allowance recorded178 178
Average recorded investment, with no related allowance recorded171 178
Interest income recognized, with no related allowance recorded1
Recorded investment, with an allowance recorded
Unpaid principal balance, with an allowance recorded
Related allowance
Average recorded investment, with an allowance recorded
Interest income recognized, with an allowance recorded
Recorded investment171 172
Unpaid principal balance178 178
Average recorded investment171 178
Interest income recognized1
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Recorded investment, with no related allowance recorded19 19
Unpaid principal balance, with no related allowance recorded19 19
Average recorded investment, with no related allowance recorded19 225
Interest income recognized, with no related allowance recorded3 13
Recorded investment, with an allowance recorded
Unpaid principal balance, with an allowance recorded
Related allowance
Average recorded investment, with an allowance recorded
Interest income recognized, with an allowance recorded
Recorded investment19 19
Unpaid principal balance19 19
Average recorded investment19 225
Interest income recognized3 13
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Recorded investment, with no related allowance recorded
Unpaid principal balance, with no related allowance recorded
Average recorded investment, with no related allowance recorded
Interest income recognized, with no related allowance recorded
Recorded investment, with an allowance recorded
Unpaid principal balance, with an allowance recorded
Related allowance
Average recorded investment, with an allowance recorded
Interest income recognized, with an allowance recorded
Recorded investment
Unpaid principal balance
Average recorded investment
Interest income recognized
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member]
Recorded investment, with no related allowance recorded131
Unpaid principal balance, with no related allowance recorded131
Average recorded investment, with no related allowance recorded131
Interest income recognized, with no related allowance recorded1
Recorded investment, with an allowance recorded 132
Unpaid principal balance, with an allowance recorded 132
Related allowance 4
Average recorded investment, with an allowance recorded 133
Interest income recognized, with an allowance recorded 12
Recorded investment131 132
Unpaid principal balance131 132
Average recorded investment131 133
Interest income recognized1 12
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Recorded investment, with no related allowance recorded
Unpaid principal balance, with no related allowance recorded
Average recorded investment, with no related allowance recorded
Interest income recognized, with no related allowance recorded
Recorded investment, with an allowance recorded
Unpaid principal balance, with an allowance recorded
Related allowance
Average recorded investment, with an allowance recorded
Interest income recognized, with an allowance recorded
Recorded investment
Unpaid principal balance
Average recorded investment
Interest income recognized
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Recorded investment, with no related allowance recorded
Unpaid principal balance, with no related allowance recorded
Average recorded investment, with no related allowance recorded
Interest income recognized, with no related allowance recorded
Recorded investment, with an allowance recorded
Unpaid principal balance, with an allowance recorded
Related allowance
Average recorded investment, with an allowance recorded
Interest income recognized, with an allowance recorded
Recorded investment
Unpaid principal balance
Average recorded investment
Interest income recognized
Commercial Portfolio Segment [Member]
Recorded investment, with no related allowance recorded
Unpaid principal balance, with no related allowance recorded
Average recorded investment, with no related allowance recorded
Interest income recognized, with no related allowance recorded
Recorded investment, with an allowance recorded
Unpaid principal balance, with an allowance recorded
Related allowance
Average recorded investment, with an allowance recorded
Interest income recognized, with an allowance recorded
Recorded investment
Unpaid principal balance
Average recorded investment
Interest income recognized
Consumer Portfolio Segment [Member]
Recorded investment, with no related allowance recorded
Unpaid principal balance, with no related allowance recorded
Average recorded investment, with no related allowance recorded
Interest income recognized, with no related allowance recorded
Recorded investment, with an allowance recorded
Unpaid principal balance, with an allowance recorded
Related allowance
Average recorded investment, with an allowance recorded
Interest income recognized, with an allowance recorded
Recorded investment
Unpaid principal balance
Average recorded investment
Interest income recognized

Note 7 - Loans Receivable, Ne_7

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Troubled Debt Restructuring Loans (Details)Dec. 31, 2020USD ($)Dec. 31, 2019USD ($)
Troubled debt restructuring, number of contracts2 2
Troubled debt restructuring, recorded investment $ 150,000 $ 151,000
Troubled debt restructuring, related allowance 4,000
Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment19,000
Accruing Instrument [Member]
Troubled debt restructuring, recorded investment $ 131,000 $ 151,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Troubled debt restructuring, number of contracts
Troubled debt restructuring, recorded investment
Troubled debt restructuring, related allowance
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Troubled debt restructuring, number of contracts1 1
Troubled debt restructuring, recorded investment $ 19,000 $ 19,000
Troubled debt restructuring, related allowance
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment19,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment $ 19,000
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Troubled debt restructuring, number of contracts
Troubled debt restructuring, recorded investment
Troubled debt restructuring, related allowance
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member]
Troubled debt restructuring, number of contracts1 1
Troubled debt restructuring, recorded investment $ 131,000 $ 132,000
Troubled debt restructuring, related allowance 4,000
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment $ 131,000 $ 132,000
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Troubled debt restructuring, number of contracts
Troubled debt restructuring, recorded investment
Troubled debt restructuring, related allowance
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Troubled debt restructuring, number of contracts
Troubled debt restructuring, recorded investment
Troubled debt restructuring, related allowance
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment
Commercial Portfolio Segment [Member]
Troubled debt restructuring, number of contracts
Troubled debt restructuring, recorded investment
Troubled debt restructuring, related allowance
Commercial Portfolio Segment [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment
Commercial Portfolio Segment [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment
Consumer Portfolio Segment [Member]
Troubled debt restructuring, number of contracts
Troubled debt restructuring, recorded investment
Troubled debt restructuring, related allowance
Consumer Portfolio Segment [Member] | Nonaccruing Instrument [Member]
Troubled debt restructuring, recorded investment
Consumer Portfolio Segment [Member] | Accruing Instrument [Member]
Troubled debt restructuring, recorded investment

Note 7 - Loans Receivable, Ne_8

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Contractual Aging of the TDRs (Details) - USD ($)Dec. 31, 2020Dec. 31, 2019
Troubled debt restructurings, non-accrual $ 19,000
Troubled debt restructuring, recorded investment150,000 151,000
Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due131,000 132,000
Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due 19,000
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Troubled debt restructurings, non-accrual
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Troubled debt restructurings, non-accrual19,000
Troubled debt restructuring, recorded investment19,000 19,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due 19,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Troubled debt restructurings, non-accrual
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member]
Troubled debt restructurings, non-accrual
Troubled debt restructuring, recorded investment131,000 132,000
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due131,000 132,000
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Troubled debt restructurings, non-accrual
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Troubled debt restructurings, non-accrual
Troubled debt restructuring, recorded investment
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Commercial Portfolio Segment [Member]
Troubled debt restructurings, non-accrual
Troubled debt restructuring, recorded investment
Commercial Portfolio Segment [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due
Consumer Portfolio Segment [Member]
Troubled debt restructurings, non-accrual
Troubled debt restructuring, recorded investment
Consumer Portfolio Segment [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Troubled debt restructurings, past due
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Troubled debt restructurings, past due
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Troubled debt restructurings, past due

Note 7 - Loans Receivable, Ne_9

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Changes in the Allowance for Loan Losses and Recorded Investment in Loans Receivable (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Allowance for loan losses, beginning balance $ 2,231 $ 1,965
Charge-offs (37)
Recoveries
Provision830 303
Allowance for loan losses, ending balance3,061 2,231
Allowance for loan losses, individually evaluated for impairment 4
Allowance for loan losses, collectively evaluated for impairment3,061 2,227
Loans receivable, ending balance365,242 249,767
Loans receivable, individually evaluated for impairment321 323
Loans receivable, collectively evaluated for impairment364,921 249,444
Real Estate Portfolio Segment [Member]
Loans receivable, ending balance210,838 204,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Allowance for loan losses, beginning balance52 51
Charge-offs
Recoveries
Provision36 1
Allowance for loan losses, ending balance88 52
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment88 52
Loans receivable, ending balance7,528 6,298
Loans receivable, individually evaluated for impairment171 172
Loans receivable, collectively evaluated for impairment7,357 6,126
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Allowance for loan losses, beginning balance351 435
Charge-offs (37)
Recoveries
Provision11 (47)
Allowance for loan losses, ending balance362 351
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment362 351
Loans receivable, ending balance38,884 39,897
Loans receivable, individually evaluated for impairment19 19
Loans receivable, collectively evaluated for impairment38,865 39,878
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Allowance for loan losses, beginning balance145 156
Charge-offs
Recoveries
Provision84 (11)
Allowance for loan losses, ending balance229 145
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment229 145
Loans receivable, ending balance24,043 22,233
Loans receivable, individually evaluated for impairment
Loans receivable, collectively evaluated for impairment24,043 22,233
Real Estate Portfolio Segment [Member] | Commercial Real Estate and Lines of Credit [Member]
Allowance for loan losses, beginning balance854 839
Charge-offs
Recoveries
Provision433 15
Allowance for loan losses, ending balance1,287 854
Allowance for loan losses, individually evaluated for impairment 4
Allowance for loan losses, collectively evaluated for impairment1,287 850
Loans receivable, ending balance131,820 119,323
Loans receivable, individually evaluated for impairment131 132
Loans receivable, collectively evaluated for impairment131,689 119,191
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Allowance for loan losses, beginning balance250 175
Charge-offs
Recoveries
Provision(188)75
Allowance for loan losses, ending balance62 250
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment62 250
Loans receivable, ending balance4,775 12,523
Loans receivable, individually evaluated for impairment
Loans receivable, collectively evaluated for impairment4,775 12,523
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Allowance for loan losses, beginning balance19 21
Charge-offs
Recoveries
Provision1 (2)
Allowance for loan losses, ending balance20 19
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment20 19
Loans receivable, ending balance3,788 3,726
Loans receivable, individually evaluated for impairment
Loans receivable, collectively evaluated for impairment3,788 3,726
Commercial and Consumer Portfolio Segments [Member]
Allowance for loan losses, beginning balance500 247
Charge-offs
Recoveries
Provision263 253
Allowance for loan losses, ending balance763 500
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment763 500
Loans receivable, ending balance154,404 45,767
Loans receivable, individually evaluated for impairment
Loans receivable, collectively evaluated for impairment154,404 45,767
Unallocated Financing Receivables [Member]
Allowance for loan losses, beginning balance60 41
Charge-offs
Recoveries
Provision190 19
Allowance for loan losses, ending balance250 60
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment250 60
Loans receivable, ending balance
Loans receivable, individually evaluated for impairment
Loans receivable, collectively evaluated for impairment

Note 7 - Loans Receivable, N_10

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Non-accrual Loans by Class of Loans (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Loans $ 190 $ 172
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Loans171 172
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Loans19
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Loans
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member]
Loans
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Loans
Commercial Portfolio Segment [Member]
Loans
Consumer Portfolio Segment [Member]
Loans

Note 7 - Loans Receivable, N_11

Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Loan Portfolio Summarized by Past Due Status (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Loans, past due $ 6,508 $ 4,802
Loans, current358,734 244,965
Loans365,242 249,767
Loans > 90 days and accruing453 190
The 30 to 89 Days Delinquent [Member]
Loans, past due5,884 4,440
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due624 362
Real Estate Portfolio Segment [Member]
Loans210,838 204,000
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member]
Loans, past due993 1,371
Loans, current6,535 4,927
Loans7,528 6,298
Loans > 90 days and accruing
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due822 1,199
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due171 172
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member]
Loans, past due255 1,069
Loans, current38,629 38,828
Loans38,884 39,897
Loans > 90 days and accruing66
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due189 1,069
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due66
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member]
Loans, past due1,947
Loans, current22,096 22,233
Loans24,043 22,233
Loans > 90 days and accruing
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due1,947
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member]
Loans, past due956 1,176
Loans, current130,864 118,147
Loans131,820 119,323
Loans > 90 days and accruing387 190
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due569 986
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due387 190
Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans, past due1,783 1,120
Loans, current2,992 11,403
Loans4,775 12,523
Loans > 90 days and accruing
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due1,783 1,120
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member]
Loans, past due
Loans, current3,788 3,726
Loans3,788 3,726
Loans > 90 days and accruing
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due
Commercial Portfolio Segment [Member]
Loans, past due574 66
Loans, current153,813 45,679
Loans154,387 45,745
Loans > 90 days and accruing
Commercial Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due574 66
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due
Consumer Portfolio Segment [Member]
Loans, past due
Loans, current17 22
Loans17 22
Loans > 90 days and accruing
Consumer Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member]
Loans, past due
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due

Note 8 - Premises and Equipme_3

Note 8 - Premises and Equipment (Details Textual) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Depreciation, Total $ 249,000 $ 200,000

Note 8 - Premises and Equipme_4

Note 8 - Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Premises and equipment $ 4,236 $ 3,872
Accumulated depreciation(1,895)(1,646)
Premises and equipment, net2,341 2,226
Land and Land Improvements [Member]
Premises and equipment292 292
Building [Member]
Premises and equipment1,553 1,695
Leasehold Improvements [Member]
Premises and equipment564 441
Furniture and Fixtures [Member]
Premises and equipment $ 1,827 $ 1,444

Note 9 - Goodwill and Other I_3

Note 9 - Goodwill and Other Intangible, Net (Details Textual) - USD ($)Aug. 01, 2016Dec. 31, 2020Dec. 31, 2019
Finite-Lived Intangible Assets, Net, Ending Balance $ 271,000 $ 319,000
Amortization of Intangible Assets, Total49,000 $ 49,000
Other Intangible Assets [Member]
Finite-Lived Intangible Assets, Net, Ending Balance271,000
Finite-Lived Intangible Assets, Accumulated Amortization $ 214,000
Signature Insurance Services, LLC [Member]
Payments to Acquire Businesses, Gross $ 1,000,000
Goodwill, Acquired During Period515,000
Signature Insurance Services, LLC [Member] | Other Intangible Assets [Member]
Finite-lived Intangible Assets Acquired $ 485,000
Finite-Lived Intangible Asset, Useful Life (Year)10 years

Note 9 - Goodwill and Other I_4

Note 9 - Goodwill and Other Intangible, Net - Estimated Amortization Expense (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
2021 $ 49
202249
202349
202449
202549
Thereafter26
Total $ 271 $ 319

Note 10 - Deposits (Details Tex

Note 10 - Deposits (Details Textual) - USD ($) $ in MillionsDec. 31, 2020Dec. 31, 2019
Time Deposits, at or Above FDIC Insurance Limit $ 29 $ 29.9

Note 10 - Deposits - Summary of

Note 10 - Deposits - Summary of Deposits (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Non-interest bearing checking accounts, amount $ 54,202 $ 15,775
Money market accounts, amount $ 99,638 $ 25,504
Money market accounts, weighted average interest rate0.80%0.80%
Certificate of deposit accounts, amount $ 199,427 $ 184,452
Certificate of deposit accounts, weighted average interest rate1.49%2.27%
Total, amount $ 354,845 $ 227,458
Total, weighted average interest rate1.03%1.87%
Passbook Accounts [Member]
Interest-bearing deposits, amount $ 8 $ 5
Interest-bearing deposits, weighted average interest rate0.16%0.15%
Savings Accounts [Member]
Interest-bearing deposits, amount $ 1,570 $ 1,722
Interest-bearing deposits, weighted average interest rate0.20%0.20%

Note 10 - Deposits - Certificat

Note 10 - Deposits - Certificate of Deposit by Maturity (Details) $ in ThousandsDec. 31, 2020USD ($)
2021 $ 101,170
202237,688
202337,135
202416,630
20256,804
Total $ 199,427

Note 11 - Borrowings (Details T

Note 11 - Borrowings (Details Textual) - USD ($)Dec. 31, 2020Dec. 31, 2019
Long-term Federal Reserve Bank Advances $ 48,134,000 $ 0
Line of Credit [Member] | Federal Home Loan Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity159,700,000
Long-term Line of Credit, Total38,200,000 36,300,000
Line of Credit [Member] | Federal Reserve Bank of Philadelphia [Member]
Line of Credit Facility, Maximum Borrowing Capacity613,000
Long-term Line of Credit, Total0 $ 0
Line of Credit [Member] | Federal Reserve Bank of Philadelphia [Member] | Paycheck Protection Program Liquidity Facility (PPPLF) [Member]
Line of Credit Facility, Maximum Borrowing Capacity93,300,000
Long-term Line of Credit, Total $ 48,100,000

Note 11 - Borrowings - Federal

Note 11 - Borrowings - Federal Home Loan Bank Short-term Borrowings (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Average balance outstanding $ 3,292 $ 5,585
Maximum amount outstanding at any month-end during the period20,000 11,000
Federal Home Loan Bank short-term borrowings $ 10,000 $ 10,000
Average interest rate during the period1.12%2.52%
Weighted average interest rate at end of period0.41%1.81%

Note 11 - Borrowings - Federa_2

Note 11 - Borrowings - Federal Home Loan Bank Long-term Borrowings (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
2020, amount $ 5,000 $ 2,000
2020, weighted interest rate2.20%2.00%
2021, amount $ 7,171 $ 5,000
2021, weighted interest rate2.10%2.20%
2022, amount $ 7,000 $ 7,171
2022, weighted interest rate2.16%2.10%
2023, amount $ 6,167 $ 7,000
2023, weighted interest rate2.05%2.16%
2024, amount $ 2,855 $ 5,100
2024, weighted interest rate1.25%2.28%
Total FHLB long-term debt, amount $ 28,193 $ 26,271
Total FHLB long-term debt, weighted interest rate2.03%2.16%

Note 12 - Subordinated Debt (De

Note 12 - Subordinated Debt (Details Textual) - Subordinated Debt [Member] - USD ($) $ in MillionsDec. 31, 2020Dec. 27, 2018
Debt Instrument, Face Amount $ 8
Debt Instrument, Interest Rate, Stated Percentage6.50%6.50%

Note 12 - Subordinated Debt - S

Note 12 - Subordinated Debt - Schedule of Subordinated Debt (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Net $ 7,899 $ 7,865
Subordinated Debt [Member]
Principal8,000
Unamortized Debt Issuance Costs111
Net $ 7,899

Note 12 - Subordinated Debt -_2

Note 12 - Subordinated Debt - Schedule of Subordinated Debt (Details) (Parentheticals)Dec. 31, 2020Dec. 27, 2018
Subordinated Debt [Member]
Debt Instrument, Interest Rate6.50%6.50%

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($)Dec. 31, 2020Dec. 31, 2019
Deferred Tax Assets, Net, Total $ 1,078,000 $ 538,000
Deferred Tax Assets, Valuation Allowance, Total $ 0 $ 0

Note 13 - Income Taxes - Compon

Note 13 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Current $ 1,442 $ 724
Deferred(566)(41)
Total federal876 683
State, current416 267
Total $ 1,292 $ 950

Note 13 - Income Taxes - Effect

Note 13 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Federal income tax at statutory rate, amount $ 953 $ 719
Federal income tax at statutory rate, percentage21.00%21.00%
State tax, net of federal benefit, amount $ 328 $ 211
State tax, net of federal benefit, percentage7.20%6.20%
Stock compensation expense, amount $ 23 $ 30
Stock compensation expense, percentage0.50%0.90%
Other, amount $ (12) $ (10)
Other, percentage(0.30%)(0.20%)
Total $ 1,292 $ 950
Total, percentage28.40%27.90%

Note 13 - Income Taxes - Deferr

Note 13 - Income Taxes - Deferred Tax Assets (Details) - USD ($)Dec. 31, 2020Dec. 31, 2019
Allowance for loan losses $ 643,000 $ 468,000
Deferred loan fees642,000 177,000
Stock-based compensation6,000 8,000
Interest on non-accrual loans3,000 2,000
Organization cost 1,000
Total deferred tax assets1,294,000 656,000
Bank premises and equipment(168,000)(100,000)
Unrealized gain on investment securities available for sale(31,000)(5,000)
Intangible(17,000)(13,000)
Total deferred tax liabilities(216,000)(118,000)
Net Deferred Tax Asset $ 1,078,000 $ 538,000

Note 14 - Stock Compensation _3

Note 14 - Stock Compensation Plans (Details Textual) - USD ($)1 Months Ended3 Months Ended12 Months Ended
May 31, 2018May 31, 2013Mar. 31, 2018Dec. 31, 2020Dec. 31, 2019Dec. 31, 2007Dec. 31, 2018May 31, 2008
Employee Stock Ownership Plan (ESOP), Compensation Expense $ 173,000 $ 186,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) $ 1.75
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value906,000 994,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value791,000 836,000
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense, after Tax44,000 44,000
Share-based Payment Arrangement, Expense, Tax Benefit2,000 2,000
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount $ 105,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)2 years 146 days
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)10 years10 years
Share-based Payment Arrangement, Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)5 years5 years
The 2008 Recognition and Retention Plan [Member]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)195,000
The 2013 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)195,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)5 years
The 2013 Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)48,750
Percentage of Shares May Be Granted As Restricted Stock Awards25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)1,200
The 2013 Stock Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)146,250
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)3,200
The 2018 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)155,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)5 years
Share-based Payment Arrangement, Expense, after Tax $ 129,000 129,000
Share-based Payment Arrangement, Expense, Tax Benefit27,000 $ 27,000
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount $ 307,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)2 years 146 days
The 2018 Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)38,750
Percentage of Shares May Be Granted As Restricted Stock Awards25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)11,750
The 2018 Stock Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)116,250
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)37,250
Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)28,266
The 2008 Stock Option Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)277,726
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)0
The Option Plan and Stock Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)240,636 256,336 279,836
Employee Stock Ownership Plan [Member]
Percentage of Company Shares Purchased by ESOP8.00%
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP (in shares)222,180
ESOP Loan Interest Rate7.75%
Employee Stock Ownership Plan (ESOP), Loan Term (Year)15 years

Note 14 - Stock Compensation _4

Note 14 - Stock Compensation Plans - Components of the ESOP Shares (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Allocated shares (in shares)179,507 180,959
Unreleased shares (in shares)10,821 25,249
Total ESOP shares (in shares)190,328 206,208
Fair value of unreleased shares (in thousands) $ 160 $ 372

Note 14 - Stock Compensation _5

Note 14 - Stock Compensation Plans - Status of Shares Under the RRP and Stock Incentive Plan (Details) - The RRP and Stock Incentive Plan [Member] - Restricted Stock [Member] - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Unvested at the beginning of the year (in shares)38,887 48,608
Unvested at the beginning of the year, weighted average grant date fair value (in dollars per share) $ 13.30 $ 13.30
Granted, number of shares (in shares)
Granted, weighted average grant date fair value (in dollars per share)
Vested, number of shares (in shares)(9,421)(9,721)
Vested, weighted average grant date fair value (in dollars per share) $ 13.30 $ 13.30
Forfeited, number of shares (in shares)(1,200)
Forfeited, weighted average grant date fair value (in dollars per share) $ 13.30
Unvested at the end of the year (in shares)28,266 38,887
Unvested at the end of the year, weighted average grant date fair value (in dollars per share) $ 13.30 $ 13.30

Note 14 - Stock Compensation _6

Note 14 - Stock Compensation Plans - Summary of Option Activity (Details) - Share-based Payment Arrangement, Option [Member] - The Option Plan and Stock Incentive Plan [Member] - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Outstanding at the beginning of the year (in shares)256,336 279,836
Outstanding at the beginning of the year, weighted average exercise price (in dollars per share) $ 10.87 $ 10.64
Outstanding at the beginning of the year, weighted average remaining contractual life (Year)5 years 182 days6 years6 years 292 days
Granted, number of shares (in shares)
Granted, weighted average exercise price (in dollars per share)
Granted, weighted average remaining contractual life (Year)
Exercised, number of shares (in shares)(12,500)(23,500)
Exercised, weighted average exercise price (in dollars per share) $ 8.10 $ 8.10
Forfeited, number of shares (in shares)(3,200)
Forfeited, weighted average exercise price (in dollars per share) $ 13.30
Outstanding at the end of the period (in shares)240,636 256,336 279,836
Outstanding at end of period, weighted average exercise price (in dollars per share) $ 10.98 $ 10.87 $ 10.64
Exercisable at the end of the period (in shares)161,054 147,027
Exercisable at end of period, weighted average exercise price (in dollars per share) $ 9.84 $ 9.07
Exercisable at end of period, weighted average remaining contractual life (Year)5 years 146 days4 years 292 days

Note 14 - Stock Compensation _7

Note 14 - Stock Compensation Plans - Fair Value Assumptions (Details)12 Months Ended
Dec. 31, 2020
Expected dividend yield2.11%
Risk-free interest rate2.96%
Expected life of options (Year)6 years 182 days
Expected stock-price volatility12.42%

Note 15 - Transactions With E_2

Note 15 - Transactions With Executive Officers and Directors (Details Textual) - USD ($) $ in ThousandsDec. 31, 2019Dec. 31, 2018
Loans and Leases Receivable, Related Parties, Ending Balance $ 0 $ 0

Note 16 - Financial Instrumen_3

Note 16 - Financial Instruments with Off-balance Sheet Risk - Financial Instrument Commitments (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Loan Origination Commitments [Member]
Contractual obligations $ 17,631 $ 10,184
Unfunded Commitments Under Lines of Credit [Member]
Contractual obligations22,431 15,181
Standby Letters of Credit [Member]
Contractual obligations $ 1,621 $ 38

Note 17 - Leases (Details Textu

Note 17 - Leases (Details Textual) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Operating Lease, Cost $ 208,000 $ 139,000
Operating Lease, Expense $ 255,000 $ 187,000

Note 17 - Leases - Lease inform

Note 17 - Leases - Lease information (Details)Dec. 31, 2020
Weighted average remaining term (Year)11 years
Weighted average discount rate3.09%

Note 17 - Leases - Undiscounted

Note 17 - Leases - Undiscounted Cash flows Due to Operating Leases (Details) $ in ThousandsDec. 31, 2020USD ($)
2021 $ 207
2022213
2023219
2024308
2025219
2026 and thereafter1,111
Total undiscounted cash flows2,277
Discount on cash flows(440)
Other Liabilities [Member]
Total lease liabilities $ 1,837

Note 18 - Regulatory Matters (D

Note 18 - Regulatory Matters (Details Textual) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 27, 2018Jan. 01, 2015Dec. 31, 2014
Common Equity Tier 1 Required For Capital Adequacy To Risk Weighted Assets4.50%4.50%4.50%
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets0.060.060.060.04
Capital Conservation Buffer2.50%
Risk Weighting for Certain Assets150.00%100.00%
Common Equity Tier 1 Capital $ 6,500,000
Payments of Dividends, Total $ 717,000 $ 676,000
Retained Earnings (Accumulated Deficit), Ending Balance18,465,000 15,937,000
Quaint Oak Bank [Member]
Payments of Dividends, Total500,000 $ 0
Retained Earnings (Accumulated Deficit), Ending Balance $ 6,000,000
Subordinated Debt [Member]
Debt Instrument, Face Amount $ 8,000,000

Note 18 - Regulatory Matters -

Note 18 - Regulatory Matters - Compliance With Regulatory Capital Requirements Under Banking Regulations (Details) $ in ThousandsDec. 31, 2020USD ($)Dec. 31, 2019USD ($)Jan. 01, 2015Dec. 31, 2014
Total capital (to risk-weighted assets), actual, amount $ 37,084 $ 33,087
Total capital (to risk-weighted assets), actual, ratio0.1452 0.1441
Total capital (to risk-weighted assets), for capital adequacy, amount $ 20,438 $ 18,373
Total capital (to risk-weighted assets), for capital adequacy, ratio0.080.08
Total capital (to risk-weighted assets), to be well capitalized, amount $ 25,548 $ 22,966
Total capital (to risk-weighted assets), to be well capitalized, ratio0.1 0.1
Tier 1 capital (to risk-weighted assets), actual, amount $ 33,996 $ 30,829
Tier 1 capital (to risk-weighted assets), actual, ratio0.1331 0.1342
Tier 1 capital (to risk-weighted assets), for capital adequacy, amount $ 15,329 $ 13,780
Tier 1 capital (to risk-weighted assets), for capital adequacy, ratio0.060.060.060.04
Tier 1 capital (to risk-weighted assets), to be well capitalized, amount $ 20,438 $ 18,373
Tier 1 capital (to risk-weighted assets), to be well capitalized, ratio0.080.08
Common Equity Tier 1 capital (to risk-weighted assets), actual, amount $ 33,996 $ 30,829
Common Equity Tier 1 capital (to risk-weighted assets), actual, ratio0.1331 0.1342
Common Equity Tier 1 capital (to risk-weighted assets), for capital adequacy, amount $ 11,496 $ 10,335
Common Equity Tier 1 capital (to risk-weighted assets), for capital adequacy, ratio4.50%4.50%4.50%
Common Equity Tier 1 capital (to risk-weighted assets), to be well capitalized, amount $ 16,606 $ 14,928
Common Equity Tier 1 capital (to risk-weighted assets), to be well capitalized, ratio6.50%6.50%
Tier 1 capital (to average assets), actual, amount $ 33,996 $ 30,829
Tier 1 capital (to average assets), actual, ratio0.0856 0.1035
Tier 1 capital (to average assets), for capital adequacy, amount $ 15,889 $ 11,915
Tier 1 capital (to average assets), for capital adequacy, ratio0.040.04
Tier 1 capital (to average assets), to be well capitalized, amount $ 19,861 $ 14,894
Tier 1 capital (to average assets), to be well capitalized, ratio0.050.05

Note 19 - Fair Value Measurem_3

Note 19 - Fair Value Measurements and Fair Values of Financial Instruments - Financial Assets and Liabilities on a Recurring and Nonrecurring (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Investment securities available for sale $ 10,725 $ 7,623
Fair Value, Recurring [Member]
Investment securities available for sale10,725 7,623
Total fair value measurements10,725 7,623
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities available for sale
Total fair value measurements
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities available for sale10,725 7,623
Total fair value measurements10,725 7,623
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities available for sale
Total fair value measurements
Fair Value, Nonrecurring [Member]
Total fair value measurements607 2,143
Impaired loans321 319
Other Real Estate Owned286 1,824
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Total fair value measurements
Impaired loans
Other Real Estate Owned
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Total fair value measurements
Impaired loans
Other Real Estate Owned
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Total fair value measurements607 2,143
Impaired loans321 319
Other Real Estate Owned286 1,824
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Investment securities available for sale5,102 6,113
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member]
Investment securities available for sale4,913 5,853
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Recurring [Member]
Investment securities available for sale4,913 5,853
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities available for sale
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities available for sale4,913 5,853
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities available for sale
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member]
Investment securities available for sale189 260
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Recurring [Member]
Investment securities available for sale189 260
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities available for sale
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities available for sale189 260
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities available for sale
Corporate Debt Securities [Member]
Investment securities available for sale5,623 1,510
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Investment securities available for sale5,623 1,510
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities available for sale
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities available for sale5,623 1,510
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities available for sale

Note 19 - Fair Value Measurem_4

Note 19 - Fair Value Measurements and Fair Values of Financial Instruments - Additional Quantitative Information About Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Appraisal of Collateral [Member] - Fair Value, Inputs, Level 3 [Member] - Meaurement Input, Appraisal Adjustments Rate [Member] $ in ThousandsDec. 31, 2020USD ($)Dec. 31, 2019USD ($)
Impaired loans, fair value $ 321 $ 319
Other real estate owned, fair value $ 286 $ 1,824
Impaired Loans [Member]
Unobservable input, range[1],[2]0.08
Minimum [Member] | Impaired Loans [Member]
Unobservable input, range[1],[2]0
Minimum [Member] | Other Real Estate Owned [Member]
Unobservable input, range[1],[2]0 0
Maximum [Member] | Impaired Loans [Member]
Unobservable input, range[1],[2]0.03
Maximum [Member] | Other Real Estate Owned [Member]
Unobservable input, range[1],[2]0.120.12
Weighted Average [Member] | Impaired Loans [Member]
Unobservable input, range[1],[2](0.08)0.01
Weighted Average [Member] | Other Real Estate Owned [Member]
Unobservable input, range[1],[2]0.120.12
[1]Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal.
[2]Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are identifiable.

Note 19 - Fair Value Measurem_5

Note 19 - Fair Value Measurements and Fair Values of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Investment in interest-earning time deposits $ 10,536
Reported Value Measurement [Member]
Investment in interest-earning time deposits $ 9,463 10,172
Loans held for sale53,191 8,928
Loans receivable, net359,122 246,692
Deposits354,845 227,458
FHLB long-term borrowings28,193 26,271
FRB long-term borrowings48,134
Subordinated debt7,899 7,865
Estimate of Fair Value Measurement [Member]
Investment in interest-earning time deposits10,536
Loans held for sale62,396 9,205
Loans receivable, net363,527 250,550
Deposits358,112 230,521
FHLB long-term borrowings28,284 26,292
FRB long-term borrowings48,126
Subordinated debt8,283 8,146
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Investment in interest-earning time deposits
Loans held for sale
Loans receivable, net
Deposits55,417 43,006
FHLB long-term borrowings
FRB long-term borrowings
Subordinated debt
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Investment in interest-earning time deposits
Loans held for sale62,396 9,205
Loans receivable, net
Deposits
FHLB long-term borrowings
FRB long-term borrowings
Subordinated debt
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Investment in interest-earning time deposits10,536 10,536
Loans held for sale
Loans receivable, net363,527 250,550
Deposits202,695 187,515
FHLB long-term borrowings28,284 26,292
FRB long-term borrowings48,126
Subordinated debt $ 8,283 $ 8,146

Note 20 - Operating Segments (D

Note 20 - Operating Segments (Details Textual)12 Months Ended
Dec. 31, 2020
Number of Reportable Segments2

Note 20 - Operating Segments -

Note 20 - Operating Segments - Summary of Financial Information for the Reportable Segments (Details) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Net Interest Income $ 10,835,000 $ 8,685,000
Provision for Loan Losses830,000 303,000
Net Interest Income after Provision for Loan Losses10,005,000 8,382,000
Insurance commissions490,000 419,000
Income from bank-owned life insurance80,000 80,000
Net gain on loans held for sale4,319,000 3,014,000
Gain on the sale of SBA loans115,000 265,000
Unrealized losses on investment securities available for sale (4,000)
(Loss) gain on sales and write-downs of other real estate owned(197,000)(221,000)
Total Non-Interest Income6,655,000 4,953,000
Salaries and employee benefits8,427,000 6,947,000
Directors’ fees and expenses232,000 223,000
Occupancy and equipment913,000 692,000
Data processing717,000 508,000
Professional fees541,000 416,000
FDIC deposit insurance assessment121,000 15,000
Other real estate owned expenses42,000 22,000
Advertising113,000 195,000
Amortization of Intangible Assets, Total49,000 49,000
Other968,000 841,000
Total Non-Interest Expense12,123,000 9,908,000
Pretax Segment Profit4,537,000 3,427,000
Segment Assets484,075,000 302,540,000
Mortgage Banking and Abstract Fees [Member]
Non-interest revenue1,579,000 1,152,000
Real Estate Sales Commissions [Member]
Non-interest revenue159,000 180,000
Other Fees and Services Fees [Member]
Non-interest revenue109,000 68,000
Quaint Oak Bank [Member]
Net Interest Income[1]11,190,000 8,845,000
Provision for Loan Losses[1]830,000 303,000
Net Interest Income after Provision for Loan Losses[1]10,360,000 8,542,000
Insurance commissions[1]490,000 419,000
Income from bank-owned life insurance[1]80,000 80,000
Net gain on loans held for sale[1] 1,000
Gain on the sale of SBA loans[1]115,000 265,000
Unrealized losses on investment securities available for sale[1] (4,000)
(Loss) gain on sales and write-downs of other real estate owned[1](197,000)(221,000)
Total Non-Interest Income[1]1,679,000 1,437,000
Salaries and employee benefits[1]6,980,000 5,768,000
Directors’ fees and expenses[1]232,000 223,000
Occupancy and equipment[1]631,000 478,000
Data processing[1]470,000 366,000
Professional fees[1]501,000 357,000
FDIC deposit insurance assessment[1]121,000 15,000
Other real estate owned expenses[1]42,000 22,000
Advertising[1]92,000 140,000
Amortization of Intangible Assets, Total[1]49,000 49,000
Other[1]909,000 780,000
Total Non-Interest Expense[1]10,027,000 8,198,000
Pretax Segment Profit[1]2,012,000 1,781,000
Segment Assets[1]422,230,000 286,986,000
Quaint Oak Bank [Member] | Mortgage Banking and Abstract Fees [Member]
Non-interest revenue[1]923,000 649,000
Quaint Oak Bank [Member] | Real Estate Sales Commissions [Member]
Non-interest revenue[1]159,000 180,000
Quaint Oak Bank [Member] | Other Fees and Services Fees [Member]
Non-interest revenue[1]109,000 68,000
Quaint Oak Bank, Mortgage [Member]
Net Interest Income(355,000)(160,000)
Provision for Loan Losses
Net Interest Income after Provision for Loan Losses(355,000)(160,000)
Insurance commissions
Income from bank-owned life insurance
Net gain on loans held for sale4,320,000 3,013,000
Gain on the sale of SBA loans
Unrealized losses on investment securities available for sale
(Loss) gain on sales and write-downs of other real estate owned
Total Non-Interest Income4,976,000 3,516,000
Salaries and employee benefits1,447,000 1,179,000
Directors’ fees and expenses
Occupancy and equipment282,000 214,000
Data processing247,000 142,000
Professional fees40,000 59,000
FDIC deposit insurance assessment
Other real estate owned expenses
Advertising21,000 55,000
Amortization of Intangible Assets, Total
Other59,000 61,000
Total Non-Interest Expense2,096,000 1,710,000
Pretax Segment Profit2,525,000 1,646,000
Segment Assets61,845,000 15,554,000
Quaint Oak Bank, Mortgage [Member] | Mortgage Banking and Abstract Fees [Member]
Non-interest revenue656,000 503,000
Quaint Oak Bank, Mortgage [Member] | Real Estate Sales Commissions [Member]
Non-interest revenue
Quaint Oak Bank, Mortgage [Member] | Other Fees and Services Fees [Member]
Non-interest revenue
[1]Includes Quaint Oak Bancorp, Inc. and the Bank's Subsidiaries, Quaint Oak Real Estate, Quaint Oak Abstract, Quaint Oak Insurance Agency, and QOB Properties.

Note 21 - Subsequent Events (De

Note 21 - Subsequent Events (Details Textual) - Quaint Oak Bank [Member] - Subsequent Event [Member] - Oakmont Capital Holdings, LLC [Member] $ in MillionsJan. 04, 2021USD ($)
Payments to Acquire Interest in Subsidiaries and Affiliates, Total $ 3
Noncontrolling Interest, Ownership Percentage by Parent51.00%

Note 22 - Quaint Oak Bancorp,_3

Note 22 - Quaint Oak Bancorp, Inc. (Parent Company Only) - Balance Sheets (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Cash and cash equivalents $ 33,913 $ 14,555
Premises and equipment, net2,341 2,226
Other assets5,475 2,783
Total Assets484,075 302,540
Subordinated debt7,899 7,865
Stockholders’ equity28,728 25,907 $ 23,836
Total Liabilities and Stockholders’ Equity484,075 302,540
Parent Company [Member]
Cash and cash equivalents333 669
Investment in Quaint Oak Bank34,766 31,512
Premises and equipment, net1,513 1,559
Other assets15 32
Total Assets36,627 33,772
Subordinated debt7,899 7,865
Stockholders’ equity28,728 25,907
Total Liabilities and Stockholders’ Equity $ 36,627 $ 33,772

Note 22 - Quaint Oak Bancorp,_4

Note 22 - Quaint Oak Bancorp, Inc. (Parent Company Only) - Statements of Income (Details) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Occupancy and equipment $ 913,000 $ 692,000
Interest on subordinated debt520,000 519,000
Other968,000 841,000
Total Expenses12,123,000 9,908,000
Net Income (Loss) Before Income Taxes4,537,000 3,427,000
Income taxes(1,292,000)(950,000)
Net Income3,245,000 2,477,000
Comprehensive Income3,343,000 2,499,000
Parent Company [Member]
Dividends from subsidiary500,000
Interest income2,000 20,000
Rental income339,000 199,000
Total Income841,000 219,000
Occupancy and equipment96,000 120,000
Interest on subordinated debt520,000 519,000
Other158,000 161,000
Total Expenses774,000 800,000
Net Income (Loss) Before Income Taxes67,000 (581,000)
Equity in Undistributed Net Income of Subsidiary3,087,000 2,936,000
Income taxes91,000 122,000
Net Income3,245,000 2,477,000
Comprehensive Income $ 3,343,000 $ 2,499,000

Note 22 - Quaint Oak Bancorp,_5

Note 22 - Quaint Oak Bancorp, Inc. (Parent Company Only) - Statements of Cash Flows (Details) - USD ($)12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Net Income $ 3,245,000 $ 2,477,000
Depreciation expense249,000 200,000
Amortization of subordinated debt issuance costs34,000 34,000
Stock-based compensation expense346,000 359,000
Net cash provided by (used in) operating activities(43,761,000)(1,852,000)
Investing Activities
Net cash used in investing activities(113,162,000)(36,848,000)
Dividends paid(717,000)(676,000)
Purchase of treasury stock(349,000)(339,000)
Proceeds from the reissuance of treasury stock97,000 38,000
Proceeds from the exercise of stock options101,000 190,000
Net cash used in financing activities176,281,000 27,243,000
Net Decrease in Cash and Cash Equivalents19,358,000 (11,457,000)
Cash and Cash Equivalents – Beginning of Year14,555,000 26,012,000
Cash and Cash Equivalents – End of Year33,913,000 14,555,000
Parent Company [Member]
Net Income3,245,000 2,477,000
Undistributed net income in subsidiary(3,087,000)(2,936,000)
Depreciation expense53,000 53,000
Amortization of subordinated debt issuance costs34,000 34,000
Stock-based compensation expense346,000 359,000
Decrease (increase) in other assets(52,000)(2,000)
Net cash provided by (used in) operating activities539,000 (15,000)
Investing Activities
Purchase of property and equipment(7,000)(125,000)
Net cash used in investing activities(7,000)(125,000)
Dividends paid(717,000)(676,000)
Purchase of treasury stock(349,000)(339,000)
Proceeds from the reissuance of treasury stock97,000 38,000
Proceeds from the exercise of stock options101,000 190,000
Net cash used in financing activities(868,000)(787,000)
Net Decrease in Cash and Cash Equivalents(336,000)(927,000)
Cash and Cash Equivalents – Beginning of Year669,000 1,596,000
Cash and Cash Equivalents – End of Year $ 333,000 $ 669,000