Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheet (Current Period Unaudited)

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Consolidated Balance Sheet (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 19,061 $ 17,942
Interest bearing deposits in other financial institutions 63,439 67,647
Federal funds sold 707 419
Total cash and cash equivalents 83,207 86,008
Securities available-for-sale 339,585 371,374
Loans held-for-sale 1,185 340
Loans receivable, net of deferred fees and costs 1,506,398 1,512,595
Less: Allowance for credit losses (18,330) (18,768)
Net loans receivable 1,488,068 1,493,827
Federal Home Loan Bank stock 6,547 6,547
Accrued interest receivable 7,695 8,045
Premises and equipment 48,696 38,436
Foreclosed real estate 0 71
Cash value of bank owned life insurance 33,107 32,702
Goodwill 22,395 22,395
Other intangible assets 2,555 3,272
Other assets 44,027 45,262
Total assets 2,077,067 2,108,279
Deposits:    
Non-interest bearing 286,784 295,594
Interest bearing 1,469,970 1,517,827
Total deposits 1,756,754 1,813,421
Repurchase agreements 42,973 38,124
Borrowed funds 85,000 80,000
Accrued expenses and other liabilities 43,709 29,389
Total liabilities 1,928,436 1,960,934
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: June 30, 2024 - 4,313,940 December 31, 2023 - 4,298,773 0 0
Additional paid-in capital 69,778 69,555
Accumulated other comprehensive loss (58,939) (51,613)
Retained earnings 137,792 129,403
Total stockholders' equity 148,631 147,345
Total liabilities and stockholders' equity $ 2,077,067 $ 2,108,279