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
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 23,071 $ 17,942
Interest bearing deposits in other financial institutions 48,025 67,647
Federal funds sold 553 419
Total cash and cash equivalents 71,649 86,008
Securities available-for-sale 350,027 371,374
Loans held-for-sale 2,567 340
Loans receivable, net of deferred fees and costs 1,508,242 1,512,595
Less: Allowance for credit losses (18,516) (18,768)
Net loans receivable 1,489,726 1,493,827
Federal Home Loan Bank stock 6,547 6,547
Accrued interest receivable 7,442 8,045
Premises and equipment 47,912 38,436
Foreclosed real estate 0 71
Cash value of bank owned life insurance 33,312 32,702
Goodwill 22,395 22,395
Other intangible assets 2,203 3,272
Other assets 40,882 45,262
Total assets 2,074,662 2,108,279
Deposits:    
Non-interest bearing 285,157 295,594
Interest bearing 1,463,653 1,517,827
Total deposits 1,748,810 1,813,421
Repurchase agreements 43,038 38,124
Borrowed funds 85,000 80,000
Accrued expenses and other liabilities 38,259 29,389
Total liabilities 1,915,107 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: September 30, 2024 - 4,313,940 December 31, 2023 - 4,298,773 0 0
Additional paid-in capital 69,916 69,555
Accumulated other comprehensive loss (48,241) (51,613)
Retained earnings 137,880 129,403
Total stockholders' equity 159,555 147,345
Total liabilities and stockholders' equity $ 2,074,662 $ 2,108,279