v3.24.1
Consolidated Balance Sheet - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 17,942 $ 19,965
Interest bearing deposits in other financial institutions 67,647 11,210
Federal funds sold 419 107
Total cash and cash equivalents 86,008 31,282
Certificates of deposit in other financial institutions 0 2,456
Securities available-for-sale 371,374 370,896
Loans held-for-sale 340 1,543
Loans receivable, net of deferred fees and costs 1,512,595 1,513,631
Less: Allowance for credit losses [1] (18,768) (12,897)
Net loans receivable 1,493,827 1,500,734
Federal Home Loan Bank stock 6,547 6,547
Accrued interest receivable 8,045 7,421
Premises and equipment 38,436 40,212
Foreclosed real estate 71 0
Cash value of bank owned life insurance 32,702 31,936
Goodwill 22,395 22,395
Other intangible assets 3,272 4,794
Other assets 45,262 50,123
Total assets 2,108,279 2,070,339
Deposits:    
Non-interest bearing 295,594 359,092
Interest bearing 1,517,827 1,415,925
Total 1,813,421 1,775,017
Repurchase agreements 38,124 15,503
Borrowed funds 80,000 120,000
Accrued expenses and other liabilities 29,389 23,426
Total liabilities 1,960,934 1,933,946
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding 0 0
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued and outstanding: December 31, 2023 - 4,298,773 December 31, 2022 - 4,298,401 0 0
Additional paid-in capital 69,555 69,032
Accumulated other comprehensive loss (51,613) (64,300)
Retained earnings 129,403 131,661
Total stockholders' equity 147,345 136,393
Total liabilities and stockholders' equity $ 2,108,279 $ 2,070,339
[1] See note 3 regarding adoption of ASC 326

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