v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 5,123 $ 4,499
Interest-bearing deposits in banks 201,859 73,289
Cash and cash equivalents 206,982 77,788
Time deposits in banks 0 2,270
Investment securities available for sale, at fair value (amortized cost: $31,974 and $40,279 at December 31, 2025 and December 31, 2024, respectively) 29,363 36,291
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $7 and $12 (fair value: $2,384 and $2,346 at December 31, 2025 and December 31, 2024, respectively) 2,493 2,488
Nonmarketable equity securities 4,656 4,526
Government guaranteed loans HFI, at fair value 54,076 60,833
Loans HFI, at amortized cost 909,818 1,005,726
Allowance for credit losses on loans (21,996) (15,512)
Net loans HFI, at amortized cost 887,822 990,214
Accrued interest receivable 8,421 9,155
Premises and equipment, net 31,188 33,249
Loan servicing rights 12,580 16,534
Deferred income tax asset 6,538 0
Right-of-use operating lease assets 14,504 15,814
Bank owned life insurance 27,264 26,513
Other real estate owned 400 132
Other assets 13,971 12,490
Total assets 1,300,258 1,288,297
Liabilities:    
Noninterest-bearing deposit accounts 95,731 101,743
Interest-bearing transaction accounts 231,227 256,793
Savings and money market deposit accounts 454,639 474,425
Time deposits 402,341 310,268
Total deposits 1,183,938 1,143,229
Subordinated notes 5,962 5,956
Notes payable 1,593 1,934
Accrued interest payable 1,133 1,036
Operating lease liabilities 13,264 14,510
Deferred income tax liabilities 0 301
Accrued expenses and other liabilities 6,799 10,411
Total liabilities 1,212,689 1,177,377
Shareholders’ equity:    
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,108,069 and 4,132,986 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively 54,371 54,764
Accumulated other comprehensive loss, net (1,960) (2,956)
Unearned compensation (335) (752)
Retained earnings 19,763 44,134
Total shareholders’ equity 87,569 110,920
Total liabilities and shareholders’ equity 1,300,258 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