XML 13 R2.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets [Abstract]    
Cash and due from banks $ 17,149 $ 17,083
Interest-bearing deposits at other financial institutions 28,257 48,608
Total cash and cash equivalents 45,406 65,691
Certificates of deposit at other financial institutions 23,222 24,167
Securities available-for-sale, at fair value (amortized cost of $309,959 and $328,695, net of allowance for credit losses of $0 and $0, respectively) 279,643 292,933
Securities held-to-maturity, net of allowance for credit losses of $45 and $45 (fair value of $7,785 and $7,666, respectively) 8,455 8,455
Loans held for sale, at fair value 49,957 25,668
Loans receivable, net of allowance for credit losses of $31,479 and $31,534 (includes $15,003 and $15,088 of loans at fair value, respectively) 2,415,379 2,401,481
Interest Receivable 14,455 14,005
Premises and equipment, net 30,326 30,578
Operating lease right-of-use (“ROU”) assets 6,202 6,627
Federal Home Loan Bank (“FHLB”) stock, at cost 2,909 2,114
Deferred tax asset, net 4,832 6,725
Bank owned life insurance (“BOLI”), net 37,958 37,719
MSRs held for sale, held at the lower of cost or fair value 0 8,086
Goodwill 3,592 3,592
Core deposit intangible, net 16,402 17,343
Other assets 21,958 18,395
TOTAL ASSETS 2,969,705 2,972,669
LIABILITIES    
Noninterest-bearing accounts 646,899 670,831
Interest-bearing accounts 1,818,398 1,851,492
Total deposits 2,465,297 2,522,323
Borrowings 129,940 93,746
Principal amount 50,000 50,000
Unamortized debt issuance costs (456) (473)
Total subordinated notes less unamortized debt issuance costs 49,544 49,527
Total, operating lease 6,410 6,848
Other liabilities 40,582 35,737
Total liabilities 2,691,773 2,708,181
COMMITMENTS AND CONTINGENCIES (NOTE 10)
STOCKHOLDERS’ EQUITY    
Preferred stock, $.01 par value; 5,000,000 shares authorized; none issued or outstanding 0 0
Common stock, $.01 par value; 45,000,000 shares authorized; 7,805,795 and 7,800,545 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 78 78
Additional paid-in capital 57,552 57,362
Retained earnings 236,720 230,354
Accumulated other comprehensive loss, net of tax (16,418) (23,306)
Total stockholders’ equity 277,932 264,488
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 2,969,705 2,972,669
Mortgage Servicing Rights [Member]    
Assets [Abstract]    
Mortgage servicing rights (“MSRs”), held at the lower of cost or fair value $ 9,009 $ 9,090