Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 23,027 $ 17,883
Interest bearing deposits in other financial institutions 79,976 52,047
Federal funds sold 411 654
Total cash and cash equivalents 103,414 70,584
Securities available-for-sale 327,845 333,554
Loans held-for-sale 834 1,253
Loans receivable, net of deferred fees and costs 1,484,278 1,508,976
Less: Allowance for credit losses (18,184) (16,911)
Net loans receivable 1,466,094 1,492,065
Federal Home Loan Bank stock 6,547 6,547
Accrued interest receivable 7,651 7,721
Premises and equipment 46,179 47,259
Cash value of bank owned life insurance 33,932 33,514
Goodwill 22,395 22,395
Other intangible assets 1,414 1,860
Other assets 41,606 43,947
Total assets 2,057,911 2,060,699
Deposits:    
Non-interest bearing 271,172 263,324
Interest bearing 1,483,678 1,497,242
Total 1,754,850 1,760,566
Repurchase agreements 48,331 40,116
Borrowed funds 65,000 65,000
Accrued expenses and other liabilities 35,477 43,603
Total liabilities 1,903,658 1,909,285
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, 2025 - 4,324,889 December 31, 2024 - 4,313,698 0 0
Additional paid-in capital 70,263 70,034
Accumulated other comprehensive loss (57,560) (58,084)
Retained earnings 141,550 139,464
Total stockholders' equity 154,253 151,414
Total liabilities and stockholders' equity $ 2,057,911 $ 2,060,699