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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Cash and due from banks $ 18,657 $ 19,280
Interest-bearing deposits at other financial institutions 44,084 12,355
Total cash and cash equivalents 62,741 31,635
Certificates of deposit at other financial institutions 1,234 1,727
Securities available-for-sale, at fair value (amortized cost of $316,735 and $310,272, net of allowance for credit losses of $0 and $0, respectively) 291,133 281,175
Securities held-to-maturity, at amortized cost (fair value of $10,258 and $8,144, net of allowance for credit losses of $66 and $45, respectively) 10,434 8,455
Loans held for sale, at fair value 31,038 27,835
Loans receivable, net of allowance for credit losses of $31,653 and $31,870 (includes loans of $14,526 and $12,728, at fair value, respectively) 2,501,117 2,501,951
Interest Receivable 14,406 13,881
Premises and equipment, net 29,451 29,756
Operating lease right-of-use (“ROU”) assets 4,979 5,378
Federal Home Loan Bank (“FHLB”) stock, at cost 5,256 15,621
Deferred tax asset, net 7,009 7,059
Bank owned life insurance (“BOLI”), net 38,778 38,528
Goodwill 3,592 3,592
Core deposit intangible, net 12,879 13,710
Other assets 43,105 39,670
TOTAL ASSETS 3,066,078 3,029,177
LIABILITIES    
Noninterest-bearing accounts 676,706 638,158
Interest-bearing accounts 1,938,445 1,701,260
Total deposits 2,615,151 2,339,418
Borrowings 68,805 307,806
Principal amount 50,000 50,000
Unamortized debt issuance costs (389) (406)
Total subordinated notes less unamortized debt issuance costs 49,611 49,594
Total, operating lease 5,149 5,556
Other liabilities 28,522 31,036
Total liabilities 2,767,238 2,733,410
COMMITMENTS AND CONTINGENCIES (NOTE 8)
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; 7,742,907 and 7,833,014 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 77 78
Additional paid-in capital 52,806 55,716
Retained earnings 262,945 257,113
Accumulated other comprehensive loss, net of tax (16,988) (17,140)
Total stockholders’ equity 298,840 295,767
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 3,066,078 3,029,177
Mortgage Servicing Rights [Member]    
Mortgage servicing rights (“MSRs”), held at the lower of cost or fair value $ 8,926 $ 9,204