XML 11 R2.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 14,799 $ 12,161
Interest-earning bank balances 17,245 13,140
Federal funds sold 174,887 28,050
Total cash and cash equivalents 206,931 53,351
Securities available-for-sale, at fair value 88,064 83,402
Securities held-to-maturity (fair value $189 and $200, at September 30, 2023 and December 31, 2022, respectively) 195 201
Loans receivable, net of deferred fees and costs 1,498,500 1,370,368
Less: allowance for credit lossess (17,992) (16,461)
Loan receivable, net 1,480,508 1,353,907
Bank-owned life insurance 58,483 52,617
Premises and equipment, net 14,567 11,722
Accrued interest receivable 5,783 4,756
Restricted investment in bank stock 1,385 1,742
Deferred taxes, net 13,908 7,599
Goodwill 8,853 8,853
Core deposit intangible 1,546 1,825
Mortgage servicing rights 1,562 0
Operating lease right-of-use asset 24,090 16,026
Other assets 7,248 5,778
TOTAL ASSETS 1,913,123 1,601,779
Deposits:    
Non-interest-bearing 264,197 265,078
Interest-bearing 1,373,769 1,082,652
Total deposits 1,637,966 1,347,730
Borrowings 0 10,000
Accrued interest payable 10,243 1,027
Operating lease liability 24,941 16,772
Other liabilities 7,765 6,649
TOTAL LIABILITIES 1,680,915 1,382,178
STOCKHOLDERS' EQUITY    
Common stock, no par value; 15,000,000 shares authorized, 6,299,331 shares issued and outstanding at September 30 2023; at December 31, 2022, par value $5.00 per share, 6,909,402 shares issued and 6,245,597 shares outstanding 0 34,547
Paid-in capital 97,779 81,291
Treasury stock, at cost 663,805 shares at December 31, 2022 0 (19,452)
Retained earnings 146,022 131,488
Accumulated other comprehensive loss (11,593) (8,273)
TOTAL STOCKHOLDER'S EQUITY 232,208 219,601
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,913,123 $ 1,601,779