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Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from other financial institutions $ 19,963 $ 12,046
Interest-bearing deposits in other financial institutions 57,042 54,725
Cash and cash equivalents 77,005 66,771
Securities, at fair value 170,239 210,338
Loans receivable, net of allowance for credit losses: March 31, 2023, $10,032 and December 31, 2022, $8,129 1,225,288 1,226,743
Foreclosed assets, net 1,393 476
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost 7,490 7,490
Premises held-for-sale 1,246 0
Premises and equipment, net 22,955 24,956
Accrued interest receivable 8,316 7,338
Bank-owned life insurance 18,731 18,815
Deferred taxes 5,395 5,480
Other assets 6,052 7,035
Total assets 1,544,110 1,575,442
Liabilities    
Noninterest-bearing 287,493 280,625
Interest-bearing 1,027,721 1,094,309
Total deposits 1,315,214 1,374,934
Borrowings 35,000 0
Subordinated notes, net of unamortized issuance costs 19,645 19,634
Advance payments by borrowers for taxes and insurance 7,321 8,674
Accrued interest payable and other liabilities 14,571 20,529
Total liabilities 1,391,751 1,423,771
Stockholders’ equity    
Preferred stock, $0.01 par value, 25,000,000 shares authorized, none issued or outstanding 0 0
Common stock, $0.01 par value, 100,000,000 shares authorized; 12,693,993 shares issued at March 31, 2023 and 12,742,597 shares issued at December 31, 2022 127 127
Additional paid-in capital 85,346 85,848
Retained earnings 71,449 71,808
Accumulated other comprehensive loss (4,563) (6,112)
Total stockholders’ equity 152,359 151,671
Total liabilities and stockholders’ equity $ 1,544,110 $ 1,575,442