Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Current Period Unaudited)

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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 21,262 $ 12,725
Interest bearing deposits in other financial institutions 31,420 19,987
Federal funds sold 1,819 464
Total cash and cash equivalents 54,501 33,176
Certificates of deposit in other financial institutions 1,731 1,709
Securities available-for-sale 464,320 526,889
Loans held-for-sale 1,420 4,987
Loans receivable, net of deferred fees and costs 1,439,728 966,720
Less: allowance for loan losses (13,387) (13,343)
Net loans receivable 1,426,341 953,377
Federal Home Loan Bank stock 3,038 3,247
Accrued interest receivable 7,427 5,444
Premises and equipment 45,773 31,385
Cash value of bank owned life insurance 31,378 31,440
Goodwill 22,774 11,109
Other intangible assets 5,998 3,126
Other assets 33,144 14,854
Total assets 2,097,845 1,620,743
Deposits:    
Non-interest bearing 380,515 295,294
Interest bearing 1,514,696 1,138,907
Total 1,895,211 1,434,201
Repurchase agreements 23,239 14,581
Borrowed funds 5 0
Accrued expenses and other liabilities 21,753 15,346
Total liabilities 1,940,208 1,464,128
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: March 31, 2022 - 4,294,136 December 31, 2021 - 3,480,701 0 0
Additional paid-in capital 68,386 30,430
Accumulated other comprehensive (loss) income (33,462) 4,276
Retained earnings 122,713 121,909
Total stockholders' equity 157,637 156,615
Total liabilities and stockholders' equity $ 2,097,845 $ 1,620,743