XML 12 R2.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Cash and due from banks:    
Noninterest bearing deposits and cash $ 2,632 $ 3,295
Interest bearing deposits 185,010 144,273
Restricted cash 15,330 15,042
Total cash, cash equivalents and restricted cash 202,972 162,610
Investment securities:    
Available-for-sale securities, at fair value 80,627 79,992
Other investments, at cost 4,450 4,450
Total investment securities 85,077 84,442
Federal Reserve Bank (FRB) stock, at cost 2,351 1,377
Federal Home Loan Bank (FHLB) stock, at cost 679 779
Loans receivable (net of allowance for credit losses: 2025: $(7,795) and 2024: $(7,305)) 579,753 700,167
Loans held for sale 15,298 15,702
Accrued interest and dividends receivable 4,924 5,488
Premises and equipment, net 28,416 28,865
Other real estate owned 2,590 2,843
Core deposit intangible, net 132 156
Other assets 7,761 9,863
Total assets 929,953 1,012,292
Deposits:    
Noninterest bearing deposits 106,950 119,212
Interest bearing deposits 723,907 847,385
Total deposits 830,857 966,597
FHLB, FRB and correspondent bank borrowings 0 3,000
Senior notes, net 5,803 11,861
Subordinated debt, net 8,277 9,898
Junior subordinated debt owed to unconsolidated trust, net 8,152 8,147
Note payable 54 162
Advances from borrowers for taxes and insurance 2,976 1,472
Accrued expenses and other liabilities 7,633 6,890
Total liabilities 863,752 1,008,027
Commitments and Contingencies
Shareholders' equity    
Preferred stock, no par value; 1,000,000 shares authorized; As of June 30, 2025: 90,832 shares issued and outstanding; As of December 31, 2024: no shares issued and outstanding. 5,099 0
Common stock, $.01 par value, 100,000,000 shares authorized; As of June 30, 2025: 85,869,969 shares issued; 85,796,228 shares outstanding; As of December 31, 2024: 4,065,593 shares issued; 3,991,852 shares outstanding. 169,223 106,854
Accumulated deficit (94,686) (86,908)
Accumulated other comprehensive loss (13,435) (15,681)
Total shareholders' equity 66,201 4,265
Total liabilities and shareholders' equity $ 929,953 $ 1,012,292