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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Cash and due from banks $ 15,168 $ 19,280
Interest-bearing deposits at other financial institutions 18,027 12,355
Total cash and cash equivalents 33,195 31,635
Certificates of deposit at other financial institutions 248 1,727
Securities available-for-sale, at fair value (amortized cost of $329,830 and $310,272, net of allowance for credit losses of $0 and $0, respectively) 302,692 281,175
Securities held-to-maturity, at amortized cost (fair value of $31,776 and $8,144, net of allowance for credit losses of $220 and $45, respectively) 31,562 8,455
Loans held for sale, at fair value 53,630 27,835
Loans receivable, net of allowance for credit losses of $32,189 and $31,870 (includes loans of $13,240 and $12,728, at fair value, respectively) 2,582,272 2,501,951
Accrued interest receivable 14,270 13,881
Premises and equipment, net 30,098 29,756
Operating lease right-of-use (“ROU”) assets 7,969 5,378
Federal Home Loan Bank (“FHLB”) stock, at cost 11,579 15,621
Deferred tax asset, net 7,782 7,059
Bank owned life insurance (“BOLI”), net 38,262 38,528
Goodwill 3,592 3,592
Core deposit intangible, net 12,071 13,710
Other assets 38,139 39,670
TOTAL ASSETS 3,176,013 3,029,177
LIABILITIES    
Noninterest-bearing accounts 654,069 638,158
Interest-bearing accounts 1,899,306 1,701,260
Total deposits 2,553,375 2,339,418
Borrowings 234,305 307,806
Subordinated notes:    
Principal amount 50,000 50,000
Unamortized debt issuance costs (373) (406)
Total subordinated notes less unamortized debt issuance costs 49,627 49,594
Operating lease liabilities 8,138 5,556
Other liabilities 33,365 31,036
Total liabilities 2,878,810 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; 7,618,543 and 7,833,014 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 76 78
Additional paid-in capital 48,418 55,716
Retained earnings 268,509 257,113
Accumulated other comprehensive loss, net of tax (19,800) (17,140)
Total stockholders’ equity 297,203 295,767
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 3,176,013 3,029,177
Mortgage Servicing Rights [Member]    
Mortgage servicing rights (“MSRs”), held at the lower of cost or fair value $ 8,652 $ 9,204