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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from other financial institutions $ 19,781 $ 12,046
Interest-bearing deposits in other financial institutions 158,703 54,725
Cash and cash equivalents 178,484 66,771
Securities, at fair value 182,716 210,338
Loans receivable, net of allowance for credit losses: December 31, 2023, $8,345 and December 31, 2022, $8,129 1,050,761 1,226,743
Foreclosed assets, net 2,777 476
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost 7,490 7,490
Premises held-for-sale 523 0
Premises and equipment, net 22,950 24,956
Accrued interest receivable 7,542 7,338
Bank-owned life insurance 18,469 18,815
Deferred taxes 4,512 5,480
Other assets 11,160 7,035
Total assets 1,487,384 1,575,442
Liabilities    
Noninterest-bearing 260,851 280,625
Interest-bearing 1,000,772 1,094,309
Total deposits 1,261,623 1,374,934
Borrowings 25,000 0
Subordinated notes, net of unamortized issuance costs 19,678 19,634
Advance payments by borrowers for taxes and insurance 9,003 8,674
Accrued interest payable and other liabilities 16,697 20,529
Total liabilities 1,332,001 1,423,771
Commitments and contingent liabilities
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; 12,475,881 shares issued at December 31, 2023 and 12,742,597 shares issued at December 31, 2022 125 127
Additional paid-in capital 83,457 85,848
Retained earnings 74,426 71,808
Accumulated other comprehensive income (2,625) (6,112)
Total stockholders’ equity 155,383 151,671
Total liabilities and stockholders’ equity $ 1,487,384 $ 1,575,442