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Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from other financial institutions $ 20,274 $ 20,647
Interest-bearing deposits in other financial institutions 124,129 64,182
Cash and cash equivalents 144,403 84,829
Interest-bearing time deposits in other financial institutions 33,862 34,156
Securities, at fair value 357,165 360,530
Loans receivable, net of allowance for credit losses: March 31, 2025, $7,279 and December 31, 2024, $7,571 841,055 887,586
Foreclosed assets, net 1,337 1,391
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost 7,490 7,490
Premises and equipment, net 22,464 22,889
Accrued interest receivable 5,327 6,401
Bank-owned life insurance 18,305 18,301
Deferred taxes 3,561 3,761
Other assets 7,152 7,480
Total assets 1,442,121 1,434,814
Liabilities    
Noninterest-bearing 231,935 238,826
Interest-bearing 1,000,996 978,715
Total deposits 1,232,931 1,217,541
Borrowings 15,000 20,000
Subordinated notes, net of unamortized issuance costs 18,253 18,736
Advance payments by borrowers for taxes and insurance 7,047 9,051
Accrued interest payable and other liabilities 11,395 13,109
Total liabilities 1,284,626 1,278,437
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 March 31, 2025 and December 31, 2024 125 125
Additional paid-in capital 83,301 83,301
Retained earnings 74,348 73,513
Accumulated other comprehensive loss 279 562
Total stockholders’ equity 157,495 156,377
Total liabilities and stockholders’ equity $ 1,442,121 $ 1,434,814