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Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Cash $ 63,178 $ 35,182
Federal funds sold 7,465 4,302
Interest-earning deposits in other financial institutions and other short term investments 280 277
Cash and cash equivalents 70,923 39,761
Securities available for sale, at fair value (cost: 2025—$238,362; 2024—$232,630) 218,757 208,549
Loans held for sale, at fair value 161,826 135,909
Loans receivable 1,664,273 1,680,576
Less: Allowance for credit losses ("ACL") - loans 17,800 18,247
Loans receivable, net 1,646,473 1,662,329
Office properties and equipment, net 18,874 19,389
Federal Home Loan Bank stock, at cost 20,349 20,295
Cash surrender value of life insurance 76,287 74,612
Real estate owned, net 85 505
Prepaid expenses and other assets 42,986 48,259
Total assets 2,256,560 2,209,608
Liabilities:    
Demand deposits 174,506 171,115
Money market and savings deposits 320,881 283,243
Time deposits 889,320 905,539
Total deposits 1,384,707 1,359,897
Borrowings 465,726 446,519
Advance payments by borrowers for taxes 21,083 5,630
Other liabilities 43,553 58,427
Total liabilities 1,915,069 1,870,473
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Preferred stock (par value $.01 per share) authorized - 50,000,000 shares at June 30, 2025 and at December 31, 2024, no shares issued 0 0
Common stock (par value $.01 per share) authorized - 100,000,000 shares at June 30, 2025 and at December 31, 2024, issued and outstanding - 18,776,229 at June 30, 2025 and 19,343,251 at December 31, 2024 188 193
Additional paid-in capital 84,106 91,214
Retained earnings 282,578 277,196
Unearned ESOP shares (10,089) (10,682)
Accumulated other comprehensive loss, net of taxes (15,292) (18,786)
Total shareholders’ equity 341,491 339,135
Total liabilities and shareholders’ equity $ 2,256,560 $ 2,209,608