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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
 [1]
ASSETS    
Cash and due from banks $ 4,708 $ 4,099
Interest-bearing deposits in banks 59,675 54,286
Cash and cash equivalents 64,383 58,385
Time deposits in banks 2,264 4,646
Investment securities available for sale, at fair value (amortized cost: $41,104 and $43,597 at September 30, 2024 and December 31, 2023, respectively) 37,984 39,575
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $13 and $17 (fair value: $2,321 and $2,263 at September 30, 2024 and December 31, 2023, respectively) 2,487 2,484
Nonmarketable equity securities 4,997 4,770
Loans HFI, at amortized cost 956,004 824,218
Allowance for credit losses on loans (14,186) (13,497)
Net loans HFI, at amortized cost 941,818 810,721
Accrued interest receivable 8,537 7,130
Premises and equipment, net 38,736 38,874
Loan servicing rights 15,966 14,959
Right-of-use operating lease assets 2,018 2,416
Bank owned life insurance 26,330 25,800
Other assets 12,543 16,150
Assets from discontinued operations 0 348
Total assets 1,245,099 1,117,766
Liabilities:    
Noninterest-bearing deposits 95,995 93,708
Interest-bearing transaction accounts 247,923 259,422
Savings and money market deposits 455,297 373,000
Time deposits 312,981 259,008
Total deposits 1,112,196 985,138
FHLB borrowings 10,000 10,000
Subordinated debentures 5,954 5,949
Notes payable 2,048 2,389
Accrued interest payable 1,114 882
Operating lease liabilities 2,271 2,619
Deferred income tax liabilities 1,488 482
Accrued expenses and other liabilities 7,735 8,980
Liabilities from discontinued operations 0 620
Total liabilities 1,142,806 1,017,059
Shareholders’ equity:    
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,134,059 and 4,110,470 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 54,780 54,521
Accumulated other comprehensive loss, net (2,312) (2,981)
Unearned compensation (978) (958)
Retained earnings 35,073 34,395
Total shareholders’ equity 102,293 100,707
Total liabilities and shareholders’ equity 1,245,099 1,117,766
Preferred Stock, Series A    
Shareholders’ equity:    
Preferred stock 6,161 6,161
Preferred Stock, Series B    
Shareholders’ equity:    
Preferred stock 3,123 3,123
Preferred Stock, Series C    
Shareholders’ equity:    
Preferred stock 6,446 6,446
Government guaranteed loans held for sale    
ASSETS    
Government guaranteed loans held for sale 595 0
Government guaranteed loans HFI, at fair value    
ASSETS    
Government guaranteed loans HFI, at fair value $ 86,441 $ 91,508
[1] Derived from audited consolidated financial statements