XML 10 R2.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash $ 4,987 $ 5,842
Interest-bearing deposits in other banks 51,336 64,658
Cash and cash equivalents 56,323 70,500
Equity investment 406 391
Securities available for sale 35,359 37,259
Securities held to maturity (fair value of $5,128 and $5,171, ACL of $3 and $4) 5,832 5,979
Total loans 751,573 737,760
Allowance for credit losses (9,159) (8,522)
Net loans 742,414 729,238
Foreclosed real estate 157 159
Premises and equipment, net 13,182 13,224
Federal Home Loan Bank of Atlanta stock, at cost 656 1,366
Investment in life insurance 20,259 20,058
Accrued interest receivable 3,243 3,161
Goodwill 14,420 14,420
Intangible assets, net 741 831
Deferred tax assets, net 9,309 8,899
Other assets 6,026 6,336
Total assets 908,327 911,821
Liabilities    
Noninterest-bearing deposits 134,470 129,724
Interest-bearing deposits 524,421 521,767
Total deposits 658,891 651,491
FHLB borrowings   15,000
Subordinated debentures 34,961 34,883
Other liabilities 16,484 14,948
Total liabilities 710,336 716,322
Stockholders' equity    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding; Common stock, $0.01 par value; 45,000,000 shares authorized at June 30, 2025 and December 31, 2024; 10,318,418 shares issued and outstanding as of June 30, 2025 and 10,645,284 issued and outstanding as of December 31, 2024 103 106
Paid-in capital 91,854 94,679
Retained earnings 114,455 109,495
Unearned common stock held by employee stock ownership plan (7,069) (7,160)
Accumulated other comprehensive loss (1,352) (1,621)
Total stockholders' equity 197,991 195,499
Total liabilities and stockholders' equity $ 908,327 $ 911,821