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Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from other financial institutions $ 19,691 $ 12,046
Interest-bearing deposits in other financial institutions 151,870 54,725
Cash and cash equivalents 171,561 66,771
Securities, at fair value 158,425 210,338
Loans receivable, net of allowance for credit losses: September 30, 2023, $8,559 and December 31, 2022, $8,129 1,105,604 1,226,743
Foreclosed assets, net 902 476
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost 7,490 7,490
Premises held-for-sale 540 0
Premises and equipment, net 22,914 24,956
Accrued interest receivable 8,343 7,338
Bank-owned life insurance 18,556 18,815
Deferred taxes 4,979 5,480
Other assets 6,140 7,035
Total assets 1,505,454 1,575,442
Liabilities    
Noninterest-bearing 258,318 280,625
Interest-bearing 1,017,510 1,094,309
Total deposits 1,275,828 1,374,934
Borrowings 25,000 0
Subordinated notes, net of unamortized issuance costs 19,667 19,634
Advance payments by borrowers for taxes and insurance 15,188 8,674
Accrued interest payable and other liabilities 16,016 20,529
Total liabilities 1,351,699 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; 12,547,390 shares issued at September 30, 2023 and 12,742,597 shares issued at December 31, 2022 125 127
Additional paid-in capital 84,133 85,848
Retained earnings 73,602 71,808
Accumulated other comprehensive loss (4,105) (6,112)
Total stockholders’ equity 153,755 151,671
Total liabilities and stockholders’ equity $ 1,505,454 $ 1,575,442