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Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Assets    
Cash and due from other financial institutions $ 19,412 $ 19,781
Interest-bearing deposits in other financial institutions 118,866 158,703
Cash and cash equivalents 138,278 178,484
Interest-bearing time deposits in other financial institutions 22,005 29,513
Securities, at fair value 264,905 153,203
Loans receivable, net of allowance for credit losses: September 30, 2024, $7,899 and December 31, 2023, $8,345 923,939 1,050,761
Foreclosed assets, net 1,966 2,777
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost 7,490 7,490
Premises held-for-sale 0 523
Premises and equipment, net 22,674 22,950
Accrued interest receivable 6,929 7,542
Bank-owned life insurance 18,277 18,469
Deferred taxes 3,590 4,512
Other assets 7,607 11,160
Total assets 1,417,660 1,487,384
Liabilities    
Noninterest-bearing 226,882 260,851
Interest-bearing 972,530 1,000,772
Total deposits 1,199,412 1,261,623
Borrowings 20,000 25,000
Subordinated notes, net of unamortized issuance costs 18,726 19,678
Advance payments by borrowers for taxes and insurance 8,213 9,003
Accrued interest payable and other liabilities 12,201 16,697
Total liabilities 1,258,552 1,332,001
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; 12,460,678 shares issued at September 30, 2024 and 12,475,881 shares issued at December 31, 2023 125 125
Additional paid-in capital 83,301 83,457
Retained earnings 76,524 74,426
Accumulated other comprehensive loss (842) (2,625)
Total stockholders’ equity 159,108 155,383
Total liabilities and stockholders’ equity $ 1,417,660 $ 1,487,384