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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Cash and due from banks:    
Noninterest bearing deposits and cash $ 3,231 $ 2,693
Interest bearing deposits 46,405 36,711
Total cash and cash equivalents 49,636 39,404
Investment securities:    
Available-for-sale securities, at fair value 47,823 48,317
Other investments, at cost 4,450 4,450
Total investment securities 52,273 52,767
Federal Reserve Bank stock, at cost 2,783 2,897
Federal Home Loan Bank stock, at cost 4,503 4,477
Loans receivable (net of allowance for loan losses: 2020: $11,171 and 2019: $10,115) 740,127 802,049
Loans held for sale 6,824 15,282
Accrued interest and dividends receivable 6,834 3,603
Premises and equipment, net 33,632 34,568
Other real estate owned 1,954 2,400
Deferred tax asset, net 12,066 11,133
Goodwill 1,107 1,107
Core deposit intangible, net 567 623
Other assets 10,623 9,526
Total assets 922,929 979,836
Deposits:    
Noninterest bearing deposits 161,871 88,135
Interest bearing deposits 565,560 681,400
Total deposits 727,431 769,535
Federal Home Loan Bank and correspondent bank borrowings 90,000 100,000
Senior notes, net 11,909 11,853
Subordinated debt, net 9,774 9,752
Junior subordinated debt owed to unconsolidated trust, net 8,108 8,102
Note payable 1,044 1,193
Advances from borrowers for taxes and insurance 2,492 3,681
Accrued expenses and other liabilities 7,634 8,726
Total liabilities 858,392 912,842
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 September 30, 2020: 4,010,782 shares issued; 3,937,041 shares outstanding; As of December 31, 2019: 4,004,410 shares issued; 3,930,669 shares outstanding 106,293 106,170
Accumulated deficit (41,210) (38,773)
Accumulated other comprehensive loss (546) (403)
Total shareholders' equity 64,537 66,994
Total liabilities and shareholders' equity $ 922,929 $ 979,836