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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 6,643 $ 8,250
Interest bearing time deposits with other banks   747
Securities available-for-sale, at fair value 109,896 106,100
Federal Home Loan Bank stock 3,615 3,502
Total Loans 417,059 402,505
Allowance for credit losses on loans (3,319) (3,581)
Net loans 413,740 398,924
Land, building and equipment, net 4,202 4,181
Bank-owned life insurance 4,602 4,561
Accrued interest receivable 2,001 1,988
Other assets 8,008 9,171
Total assets 552,707 537,424
Deposits:    
Non-interest bearing deposits 69,016 92,757
Interest bearing deposits 319,925 289,606
Total deposits 388,941 382,363
Advances from Federal Home Loan Bank 85,597 99,397
Mortgagors’ tax escrow 864 938
Deferred compensation liability 1,970 1,830
Other liabilities 2,499 3,559
Total liabilities 479,871 488,087
Stockholders' Equity:    
Preferred Stock, $.01 par value, 10,000,000 shares authorized, none issued
Common Stock, $.01 par value, 90,000,000 shares authorized; 5,192,515 issued and 5,077,616 outstanding at June 30, 2023; and 5,183,439 issued and 5,068,540 outstanding at December 31, 2022 52 62
Additional paid-in capital 52,534 26,768
Retained earnings 36,177 36,248
Accumulated other comprehensive loss (9,922) (9,727)
Treasury stock, at cost: 114,899 shares outstanding as of June 30, 2023 and December 31, 2022 [1] (1,377) (1,377)
Unearned stock compensation (4,628) (2,637)
Total stockholders' equity 72,836 49,337 [2]
Total liabilities and stockholders' equity $ 552,707 $ 537,424
[1] Adjusted for conversion of First Seacoast Bancorp, Inc.
[2] Adjusted for conversion of First Seacoast Bancorp, Inc.