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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Cash and due from banks:    
Noninterest bearing deposits and cash $ 2,409 $ 2,195
Interest bearing deposits 61,580 50,322
Restricted cash 28,786 14,019
Total cash, cash equivalents and restricted cash 92,775 66,536
Investment securities:    
Available-for-sale securities, at fair value 87,595 89,187
Other investments, at cost 4,450 4,450
Total investment securities 92,045 93,637
Federal Reserve Bank (FRB) stock, at cost 2,200 2,090
Federal Home Loan Bank (FHLB) stock, at cost 2,652 4,202
Loans receivable (net of allowance for credit losses: 2024: $(13,777) and 2023: $(15,925)) 796,546 832,934
Loans held for sale 14,112 20,767
Accrued interest and dividends receivable 6,610 7,219
Premises and equipment, net 29,634 29,875
Other real estate owned 2,843 2,843
Deferred tax asset 24,199 24,134
Core deposit intangible, net 191 203
Other assets 9,372 8,985
Total assets 1,073,179 1,093,425
Deposits:    
Noninterest bearing deposits 109,265 110,056
Interest bearing deposits 750,459 730,255
Total deposits 859,724 840,311
FHLB, FRB and correspondent bank borrowings 131,000 171,000
Senior notes, net 11,757 11,723
Subordinated debt, net 9,876 9,869
Junior subordinated debt owed to unconsolidated trust, net 8,139 8,137
Note payable 323 376
Advances from borrowers for taxes and insurance 2,772 1,164
Accrued expenses and other liabilities 5,951 6,462
Total liabilities 1,029,542 1,049,042
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 March 31, 2024: 4,049,814 shares issued; 3,976,073 shares outstanding; As of December 31, 2023: 4,049,814 shares issued; 3,976,073 shares outstanding. 106,694 106,670
Accumulated deficit (47,325) (47,026)
Accumulated other comprehensive loss (15,732) (15,261)
Total shareholders' equity 43,637 44,383
Total liabilities and shareholders' equity $ 1,073,179 $ 1,093,425