Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheet (Current Period Unaudited)

v3.23.1
Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 33,785 $ 19,965
Interest bearing deposits in other financial institutions 20,342 11,210
Federal funds sold 654 107
Total cash and cash equivalents 54,781 31,282
Certificates of deposit in other financial institutions 2,452 2,456
Securities available-for-sale 377,901 370,896
Loans held-for-sale 1,672 1,543
Loans receivable, net of deferred fees and costs 1,521,089 1,513,631
Less: allowance for credit losses (1) [1] (19,568) (12,897)
Net loans receivable 1,501,521 1,500,734
Federal Home Loan Bank stock 6,547 6,547
Accrued interest receivable 7,717 7,421
Premises and equipment 39,732 40,212
Cash value of bank owned life insurance 32,115 31,936
Goodwill 22,395 22,395
Other intangible assets 4,402 4,794
Other assets 47,357 50,123
Total assets 2,098,592 2,070,339
Deposits:    
Non-interest bearing 330,057 359,092
Interest bearing 1,476,053 1,415,925
Total deposits 1,806,110 1,775,017
Repurchase agreements 28,423 15,503
Borrowed funds 100,000 120,000
Accrued expenses and other liabilities 24,323 23,426
Total liabilities 1,958,856 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: March 31, 2023 - 4,304,026 December 31, 2022 - 4,298,401 0 0
Additional paid-in capital 69,182 69,032
Accumulated other comprehensive loss (55,895) (64,300)
Retained earnings 126,449 131,661
Total stockholders' equity 139,736 136,393
Total liabilities and stockholders' equity $ 2,098,592 $ 2,070,339
[1] See note 3 regarding adoption of ASC 326