v3.25.2
Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets [Abstract]    
Cash and due from banks $ 25,701 $ 29,824
Interest-bearing deposits in banks 1,183 1,735
Federal funds sold 44 0
Total cash and cash equivalents 26,928 31,559
Securities available-for-sale, at fair value (amortized cost of $309,257 at June 30, 2025 and $319,939 at December 31, 2024) 285,023 292,590
Federal Home Loan Bank ("FHLB") stock 7,000 7,778
Federal Reserve Bank ("FRB") stock 4,131 4,131
Mortgage loans held-for-sale, at fair value 13,651 13,368
Loans receivable, net of allowance for credit losses of $17,730 at June 30, 2025 and $16,850 at December 31, 2024 1,551,932 1,503,796
Accrued interest and dividends receivable 14,674 12,890
Mortgage servicing rights, net 15,120 15,376
Assets held-for-sale, at cost 703 960
Premises and equipment, net 100,909 101,540
Cash surrender value of life insurance, net 53,958 53,232
Goodwill 34,740 34,740
Core deposit intangible, net 3,885 4,499
Other Assets 24,979 26,631
Total assets 2,137,633 2,103,090
LIABILITIES:    
Noninterest-bearing 417,324 419,211
Interest-bearing 1,320,601 1,262,017
Total deposits 1,737,925 1,681,228
Accrued expenses and other liabilities 40,439 47,018
FHLB advances and other borrowings 119,407 140,930
Other long-term debt:    
Principal amount 60,155 60,155
Unamortized debt issuance costs (931) (1,006)
Total other long-term debt, net 59,224 59,149
Total liabilities 1,956,995 1,928,325
SHAREHOLDERS' EQUITY:    
Preferred stock (par value $0.01 per share; 1,000,000 shares authorized; no shares issued or outstanding) 0 0
Common stock (par value $0.01 per share; 20,000,000 shares authorized; 8,507,429 shares issued at June 30, 2025 and December 31, 2024; 7,952,177 shares outstanding at June 30, 2025 and 8,027,177 shares outstanding December 31, 2024) 85 85
Additional paid-in capital 108,590 108,334
Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (3,724) (4,010)
Treasury stock, at cost (552,252 shares at June 30, 2025 and 480,252 shares at December 31, 2024) (11,925) (10,762)
Retained earnings 105,470 101,264
Accumulated other comprehensive loss, net of tax (17,858) (20,146)
Total shareholders' equity 180,638 174,765
Total liabilities and shareholders' equity $ 2,137,633 $ 2,103,090