v3.25.1
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and non-interest-bearing deposits due from banks $ 11,805 $ 12,768
Interest-bearing deposits due from banks 148,429 150,089
Total cash and cash equivalents 160,234 162,857
Securities:    
Securities held to maturity, fair value of $3,556 at March 31, 2025 and $3,609 at December 31, 2024 (net of allowance for credit losses of $0 at March 31, 2025 and December 31, 2024) 3,671 3,758
Securities available for sale, at fair value (net of allowance for credit losses of $0 at March 31, 2025 and December 31, 2024) 93,197 83,755
Loans held for sale 16,306 12,404
Loans 1,960,674 1,985,524
Allowance for credit losses (22,925) (22,779)
Loans, net 1,937,749 1,962,745
Premises and equipment, net 14,511 15,337
Operating lease assets 8,484 8,337
Accrued interest receivable 12,026 11,849
Prepaid post retirement plan 3,344 3,377
Stock in Federal Home Loan Bank ("FHLB"), at cost 7,897 7,885
Goodwill 19,168 19,168
Other intangible assets 236 250
Loan servicing rights 6,207 6,016
Deferred income taxes 1,572 1,569
Other assets 6,925 12,803
TOTAL ASSETS 2,291,527 2,312,110
Deposits:    
Non-interest-bearing demand 215,569 211,656
Savings, NOW and money market 1,202,640 1,244,857
Time 518,229 497,770
Total deposits 1,936,438 1,954,283
Borrowings 107,805 107,805
Subordinated debentures ($25,000 face amount less unamortized debt issuance costs of $298 and $311 at March 31, 2025 and December 31, 2024, respectively) 24,702 24,689
Operating lease liabilities 9,144 9,025
Accrued interest payable 1,865 1,532
Other liabilities 14,930 18,138
TOTAL LIABILITIES 2,094,884 2,115,472
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY    
Preferred stock, Series A (par value $0.01; 15,000,000 shares authorized; issued and outstanding 275,000 at March 31, 2025 and December 31, 2024, respectively) 5,041 5,041
Common stock (par value $0.01; 17,000,000 shares authorized; issued and outstanding 7,228,731 and 7,152,127 at March 31, 2025 and December 31, 2024, respectively) 72 72
Surplus 124,242 124,937
Retained earnings 68,684 67,922
Accumulated other comprehensive loss, net of tax (1,396) (1,334)
TOTAL STOCKHOLDERS' EQUITY 196,643 196,638
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,291,527 $ 2,312,110