v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Cash and due from banks $ 15,903 $ 15,660
Short-term investments 129,551 46,784
Total cash and cash equivalents 145,454 62,444
Securities available for sale, at fair value (amortized cost $285,252 in 2025 and $293,649 in 2024) 269,139 265,933
Securities held to maturity, at amortized cost (fair value $12,601 in 2025 and $16,630 in 2024) 13,000 16,747
Total securities 282,139 282,680
Federal Home Loan Bank stock, at cost 11,801 14,729
Loans held for sale 400 850
Total loans 2,298,466 2,198,200
Allowance for credit losses (22,018) (21,741)
Net loans 2,276,448 2,176,459
Premises and equipment, net 29,183 28,498
Bank-owned life insurance 36,660 35,526
Accrued interest receivable 8,537 8,897
Net deferred tax asset 13,134 12,795
Goodwill 11,936 11,936
Mortgage servicing rights 3,033 3,488
Other assets 18,365 18,237
Total assets 2,837,090 2,656,539
Liabilities:    
Deposits 2,128,283 2,066,832
Federal Home Loan Bank advances 260,000 325,000
Subordinated debt 27,815 27,679
Accrued expenses and other liabilities 41,998 43,201
Total liabilities 2,458,096 2,462,712
Shareholders' equity:    
Common stock, $0.01 par value, 120,000,000 shares authorized, 20,076,250 shares issued and outstanding in 2025; no shares issued and outstanding in 2024 201 0
Additional Paid in Capital 194,899 0
Unallocated ESOP common stock (15,258) 0
Retained earnings 211,981 215,270
Accumulated other comprehensive loss (12,829) (21,443)
Total shareholders' equity 378,994 193,827
Total liabilities and shareholders' equity $ 2,837,090 $ 2,656,539