v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 6,142 $ 4,499
Interest-bearing deposits in banks 71,157 73,289
Cash and cash equivalents 77,299 77,788
Time deposits in banks 1,280 2,270
Investment securities available for sale, at fair value (amortized cost: $33,410 and $40,279 at June 30, 2025 and December 31, 2024, respectively) 30,256 36,291
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $9 and $12 (fair value: $2,369 and $2,346 at June 30, 2025 and December 31, 2024, respectively) 2,491 2,488
Nonmarketable equity securities 6,551 4,526
Government guaranteed loans HFI, at fair value 90,687 60,833
Loans HFI, at amortized cost 1,035,112 1,005,726
Allowance for credit losses on loans (17,041) (15,512)
Net loans HFI, at amortized cost 1,018,071 990,214
Accrued interest receivable 9,495 9,155
Premises and equipment, net 32,407 33,249
Loan servicing rights 16,074 16,534
Right-of-use operating lease assets 15,160 15,814
Bank owned life insurance 26,881 26,513
Other real estate owned 400 132
Other assets 16,815 12,490
Total assets 1,343,867 1,288,297
Liabilities:    
Noninterest-bearing deposit accounts 109,698 101,743
Interest-bearing transaction accounts 238,215 256,793
Savings and money market deposit accounts 493,005 474,425
Time deposits 322,878 310,268
Total deposits 1,163,796 1,143,229
FHLB borrowings 40,000 0
Subordinated debentures 5,959 5,956
Notes payable 1,707 1,934
Accrued interest payable 1,148 1,036
Operating lease liabilities 13,819 14,510
Deferred income tax liabilities 895 301
Accrued expenses and other liabilities 8,320 10,411
Total liabilities 1,235,644 1,177,377
Shareholders’ equity:    
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,134,127 and 4,132,986 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 54,739 54,764
Accumulated other comprehensive loss, net (2,368) (2,956)
Unearned compensation (1,006) (752)
Retained earnings 41,128 44,134
Total shareholders’ equity 108,223 110,920
Total liabilities and shareholders’ equity 1,343,867 1,288,297
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