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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 3,056,000 $ 6,035,000
Interest-bearing deposits in other banks 407,683,000 310,732,000
Total cash and cash equivalents 410,739,000 316,767,000
Securities available for sale, at fair value 358,329,000 258,114,000
Securities held to maturity, at carrying value, net of allowance for credit losses of $202 and $348, respectively (fair value of $278,951 and $283,916, respectively) 300,451,000 308,058,000
Equity securities, at fair value 515,000 505,000
Restricted securities, at cost 2,886,000 2,613,000
Loans held for sale 316,000 0
Loans, net of allowance for credit losses of $4,514 and $4,319, respectively 308,773,000 299,825,000
Premises and equipment, net of accumulated depreciation of $7,285 and $6,791, respectively 9,587,000 9,858,000
Accrued interest receivable 4,231,000 4,354,000
Other assets 5,297,000 5,108,000
Total assets 1,401,124,000 1,205,202,000
Deposits:    
Noninterest-bearing 913,379,000 766,933,000
Savings, interest-bearing checking and money market accounts 324,845,000 328,350,000
Time, $250 and over 6,510,000 9,385,000
Other time 5,201,000 7,357,000
Total deposits 1,249,935,000 1,112,025,000
Short-term borrowings 0 5,000,000
Accrued interest payable 46,000 61,000
Accrued expenses and other liabilities 6,897,000 4,679,000
Total liabilities 1,256,878,000 1,121,765,000
Commitments and contingencies
Stockholders’ equity    
Preferred stock: No par value, 100,000 shares authorized, no shares issued and outstanding [1] 0 0
Additional paid-in capital 74,785,000 38,264,000
Retained earnings 77,641,000 56,692,000
Accumulated other comprehensive loss (8,245,000) (11,565,000)
Total stockholders’ equity 144,246,000 83,437,000
Total liabilities and stockholders’ equity 1,401,124,000 1,205,202,000
Class A Common Stock    
Stockholders’ equity    
Class A and B Common Stock [1] 30,000 0
Class B Common Stock    
Stockholders’ equity    
Class A and B Common Stock [1] $ 35,000 $ 46,000
[1] On October 3, 2024, the Company filed an Amended and Restated Certification of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company's existing common stock, into 170 shares of Class B Common Stock (the “Reclassification”). The Reclassification also authorized 20,000,000 shares of Class A Common Stock, and 10,000,000 shares of Preferred Stock. Historical share information is presented on an as adjusted basis giving effect to the Reclassification. All shares and balances from previously held common stock are reflected in Class B Common Stock.