v3.24.1.1.u2
Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 12,361 $ 14,513
Interest-bearing deposits at other financial institutions 72,787 39,044
Federal funds sold 56 407
Total cash and cash equivalents 85,204 53,964
Investment securities available for sale 202,254 208,329
Restricted investments 4,441 4,353
Loans held for sale 10,303 7,481
Portfolio loans receivable, net of deferred fees and costs 1,964,525 1,903,288
Less allowance for credit losses (29,350) (28,610)
Total portfolio loans held for investment, net 1,935,175 1,874,678
Premises and equipment, net 4,500 5,069
Accrued interest receivable 12,258 11,494
Deferred tax asset 12,311 12,252
Bank owned life insurance 38,062 37,711
Accounts receivable 11,637 1,055
Other assets 8,093 9,790
Total assets 2,324,238 2,226,176
Deposits    
Noninterest-bearing 665,812 617,373
Interest-bearing 1,339,883 1,278,623
Total deposits 2,005,695 1,895,996
Federal Home Loan Bank advances 22,000 22,000
Other borrowed funds 12,062 27,062
Accrued interest payable 6,009 5,583
Other liabilities 19,007 20,675
Total liabilities 2,064,773 1,971,316
Stockholders' equity    
Common stock, $0.01 par value; 49,000,000 shares authorized; 13,889,563 issued and outstanding at March 31, 2024; 13,922,532 issued and outstanding at December 31, 2023 139 139
Additional paid-in capital 54,229 54,473
Retained earnings 218,731 213,345
Accumulated other comprehensive loss (13,634) (13,097)
Total stockholders' equity 259,465 254,860
Total liabilities and stockholders' equity $ 2,324,238 $ 2,226,176