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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Cash and due from banks:    
Noninterest bearing deposits and cash $ 1,616 $ 2,693
Interest bearing deposits 64,280 36,711
Total cash and cash equivalents 65,896 39,404
Investment securities:    
Available-for-sale securities, at fair value 46,624 48,317
Other investments, at cost 4,450 4,450
Total investment securities 51,074 52,767
Federal Reserve Bank stock, at cost 2,897 2,897
Federal Home Loan Bank stock, at cost 4,503 4,477
Loans receivable (net of allowance for loan losses: 2020: $11,148 and 2019: $10,115) 781,352 802,049
SBA loans held for sale 7,579 15,282
Accrued interest and dividends receivable 5,624 3,603
Premises and equipment, net 33,962 34,568
Other real estate owned 2,400 2,400
Deferred tax asset, net 12,180 11,133
Goodwill 1,107 1,107
Core deposit intangible, net 586 623
Other assets 10,384 9,526
Total assets 979,544 979,836
Deposits:    
Noninterest bearing deposits 97,360 88,135
Interest bearing deposits 685,728 681,400
Total deposits 783,088 769,535
Federal Home Loan Bank and correspondent bank borrowings 90,000 100,000
Senior notes, net 11,890 11,853
Subordinated debt, net 9,767 9,752
Junior subordinated debt owed to unconsolidated trust, net 8,106 8,102
Note payable 1,094 1,193
Advances from borrowers for taxes and insurance 3,773 3,681
Accrued expenses and other liabilities 7,654 8,726
Total liabilities 915,372 912,842
Commitments and Contingencies
Shareholders' equity    
Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $.01 par value, 100,000,000 shares authorized; As of June 30, 2020: 4,009,582 shares issued; 3,935,841 shares outstanding As of December 31, 2019: 4,004,410 shares issued; 3,930,669 shares outstanding 106,251 106,170
Accumulated deficit (41,123) (38,773)
Accumulated other comprehensive loss (956) (403)
Total shareholders' equity 64,172 66,994
Total liabilities and shareholders' equity $ 979,544 $ 979,836