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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets:    
Cash and due from banks $ 14,009 $ 19,788
Interest-bearing deposits with banks 62,654 52,048
Total cash and cash equivalents 76,663 71,836
Debt securities available for sale 24,355 25,102
Debt securities held-to-maturity (fair value of $326 and $504) 360 540
Loans, net of allowance for credit losses of $7,683 and $5,793 671,094 477,218
Federal Home Loan Bank stock 3,354 600
Premises and equipment, net 1,375 934
Right-of-use lease assets 2,161 2,119
Accrued interest receivable 2,474 1,444
Deferred tax asset 2,903 3,836
Other assets 6,515 1,590
Total assets 791,254 585,219
Liabilities:    
Noninterest-bearing demand deposits 194,892 159,193
Savings, NOW and money-market deposits 322,932 108,726
Time deposits 121,757 239,980
Total deposits 639,581 507,899
Federal Home Loan Bank advances 62,000 10,000
Federal Reserve Bank advances 13,600
Operating lease liabilities 2,248 2,172
Other liabilities 3,818 2,568
Total liabilities 721,247 522,639
Commitments and contingencies (Notes 8 and 14)
Stockholders’ equity:    
Preferred stock, value
Common stock, $.01 par value; 30,000,000 and 10,000,000 shares authorized, 7,250,219 and 7,058,897 shares issued and outstanding 72 71
Additional paid-in capital 91,221 90,408
Accumulated deficit (15,971) (22,073)
Accumulated other comprehensive loss (5,315) (5,826)
Total stockholders’ equity 70,007 62,580
Total liabilities and stockholders’ equity 791,254 585,219
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value
Series B Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value