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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 4,431 $ 5,828
Short-term investments 143,677 151,789
Total cash and cash equivalents 148,108 157,617
Interest-bearing time deposits 100 100
Investments in available-for-sale securities at fair value 13,950 6,564
Investments in held-to-maturity securities, at amortized cost (fair values of $63,355 at March 31, 2025 and $67,505 at December 31, 2024) 68,081 73,215
Loans held-for-sale 83 0
Loans, net of allowance for credit losses of $8,808 at March 31, 2025 and $8,884 at December 31, 2024 1,177,543 1,136,449
Federal Home Loan Bank stock, at cost 10,000 10,000
Premises and equipment, net 3,455 3,512
Accrued interest receivable 4,343 4,015
Deferred tax asset, net 4,920 4,914
Bank-owned life insurance 15,061 14,945
Other assets 6,547 6,822
Total assets 1,452,191 1,418,153
Deposits:    
Noninterest-bearing 79,853 84,958
Interest-bearing 956,767 913,575
Total deposits 1,036,620 998,533
Federal Home Loan Bank advances 234,000 234,000
Other liabilities 12,993 17,352
Total liabilities 1,283,613 1,249,885
Shareholders' Equity:    
Preferred Stock, par value $0.01; Authorized: 1,000,000 shares; Issued and outstanding: 0 shares
Common Stock, par value $0.01; Authorized: 30,000,000 shares; Issued and outstanding: 9,049,790 shares and 9,095,833 shares at March 31, 2025 and December 31, 2024, respectively 90 91
Additional paid-in capital 85,879 86,189
Retained earnings 89,142 87,845
Accumulated other comprehensive (loss) income (385) 382
Unallocated common shares held by the Employee Stock Ownership Plan (6,148) (6,239)
Total shareholders' equity 168,578 168,268
Total liabilities and shareholders' equity $ 1,452,191 $ 1,418,153