v3.23.3
Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 17,922 $ 19,965
Interest bearing deposits in other financial institutions 52,875 11,210
Federal funds sold 851 107
Total cash and cash equivalents 71,648 31,282
Certificates of deposit in other financial institutions 0 2,456
Securities available-for-sale 339,280 370,896
Loans held-for-sale 2,057 1,543
Loans receivable, net of deferred fees and costs 1,525,660 1,513,631
Less: allowance for credit losses (1) [1] (19,430) (12,897)
Net loans receivable 1,506,230 1,500,734
Federal Home Loan Bank stock 6,547 6,547
Accrued interest receivable 7,864 7,421
Premises and equipment 38,810 40,212
Cash value of bank owned life insurance 32,509 31,936
Goodwill 22,395 22,395
Other intangible assets 3,636 4,794
Other assets 56,494 50,123
Total assets 2,087,470 2,070,339
Deposits:    
Non-interest bearing 312,635 359,092
Interest bearing 1,471,402 1,415,925
Total deposits 1,784,037 1,775,017
Repurchase agreements 48,310 15,503
Borrowed funds 100,000 120,000
Accrued expenses and other liabilities 36,080 23,426
Total liabilities 1,968,427 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: September 30, 2023 - 4,300,881 December 31, 2022 - 4,298,401 0 0
Additional paid-in capital 69,482 69,032
Accumulated other comprehensive loss (78,848) (64,300)
Retained earnings 128,409 131,661
Total stockholders' equity 119,043 136,393
Total liabilities and stockholders' equity $ 2,087,470 $ 2,070,339
[1] See note 3 regarding adoption of ASC 326

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