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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Cash and due from banks:    
Noninterest bearing deposits and cash $ 2,718 $ 2,195
Interest bearing deposits 70,013 50,322
Restricted cash 41 14,019
Total cash, cash equivalents and restricted cash 72,772 66,536
Investment securities:    
Available-for-sale securities, at fair value 89,578 89,187
Other investments, at cost 4,450 4,450
Total investment securities 94,028 93,637
Federal Reserve Bank (FRB) stock, at cost 2,109 2,090
Federal Home Loan Bank (FHLB) stock, at cost 3,473 4,202
Loans receivable (net of allowance for credit losses: 2024: $(14,984) and 2023: $(15,925)) 740,687 832,934
Loans held for sale 13,658 20,767
Accrued interest and dividends receivable 5,932 7,219
Premises and equipment, net 29,117 29,875
Other real estate owned 2,843 2,843
Deferred tax asset 0 24,134
Core deposit intangible, net 168 203
Other assets 9,296 8,985
Total assets 974,083 1,093,425
Deposits:    
Noninterest bearing deposits 91,583 110,056
Interest bearing deposits 733,306 730,255
Total deposits 824,889 840,311
FHLB, FRB and correspondent bank borrowings 93,800 171,000
Senior notes, net 11,827 11,723
Subordinated debt, net 9,891 9,869
Junior subordinated debt owed to unconsolidated trust, net 8,144 8,137
Note payable 216 376
Advances from borrowers for taxes and insurance 3,013 1,164
Accrued expenses and other liabilities 5,917 6,462
Total liabilities 957,697 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 September 30, 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. 106,790 106,670
Accumulated deficit (77,360) (47,026)
Accumulated other comprehensive loss (13,044) (15,261)
Total shareholders' equity 16,386 44,383
Total liabilities and shareholders' equity $ 974,083 $ 1,093,425