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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Assets    
Cash and due from banks, including reserve requirement of $0 at December 31, 2021 and 2020 $ 16,239 $ 5,552
Interest-earning deposits in other depository institutions 95,537 172,701
Cash and cash equivalents 111,776 178,253
Investment securities available-for-sale 48,557 24,005
Other investments 2,476 1,596
Loans, net 575,825 592,254
Other real estate owned 3,538 1,292
Premises and equipment, net 3,783 8,617
Bank owned life insurance 15,377 15,311
Intangible assets 18,749 18,940
Accrued interest receivable and other assets 8,007 10,360
Total assets 788,088 850,628
Liabilities :    
Savings accounts 86,745 96,591
Interest-bearing checking 91,387 129,813
Market rate checking 145,969 121,317
Noninterest-bearing checking 193,940 160,819
Certificate of deposits 96,758 131,625
Total deposits 614,799 640,165
Federal Home Loan Bank (FHLB) advances 48,988 19,117
Paycheck Protection Program Liquidity Facility (PPPLF) borrowings   100,813
Other borrowings   5,000
Accrued interest payable and other liabilities 3,333 4,748
Total liabilities 667,120 769,843
Commitments
Stockholders' equity:    
Common stock (par value $0.01 per share, 40,000,000 shares authorized, 6,872,634 issued and outstanding at December 31, 2021 and 19,000,000 shares authorized, 6,968,469 issued and 6,865,653 outstanding at December 31, 2020) [1] 69 69
Preferred stock (1,000,000 shares authorized, no shares outstanding)
Additional paid in capital 68,038 33,628
Treasury stock, 0 shares at December 31, 2021 and 102,816 shares at December 31, 2020, at cost   (1,268)
Unearned ESOP shares (5,004) (2,453)
Retained earnings 58,223 50,650
Accumulated other comprehensive (loss) income (358) 159
Total stockholders' equity 120,968 80,785
Total liabilities and stockholders' equity $ 788,088 $ 850,628
[1] Amounts related to periods prior to the date of Conversion (January 20, 2021) have been restated to give the retroactive recognition to the exchange ratio applied in the Conversion (0.90686) (see Note 1).