v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Cash and due from banks $ 6,848 $ 5,123
Interest-bearing deposits in banks 127,617 201,859
Cash and cash equivalents 134,465 206,982
Investment securities available for sale, at fair value (amortized cost: $31,268 and $31,974 at March 31, 2026 and December 31, 2025, respectively) 28,531 29,363
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $9 and $7 (fair value: $2,378 and $2,384 at March 31, 2026 and December 31, 2025, respectively) 2,491 2,493
Nonmarketable equity securities 4,662 4,656
Government guaranteed loans HFI, at fair value 51,807 54,076
Loans HFI, at amortized cost 878,619 909,818
Allowance for credit losses on loans (20,632) (21,996)
Net loans HFI, at amortized cost 857,987 887,822
Accrued interest receivable 7,683 8,421
Premises and equipment, net 30,690 31,188
Loan servicing rights 11,334 12,580
Deferred income tax asset 8,489 6,538
Right-of-use operating lease assets 14,171 14,504
Bank owned life insurance 27,457 27,264
Other real estate owned 400 400
Other assets 15,743 13,971
Total assets 1,195,910 1,300,258
Liabilities:    
Noninterest-bearing deposit accounts 111,476 95,731
Interest-bearing transaction accounts 153,860 231,227
Savings and money market deposit accounts 432,781 454,639
Time deposits 387,752 402,341
Total deposits 1,085,869 1,183,938
Subordinated notes 6,099 5,962
Notes payable 1,479 1,593
Accrued interest payable 958 1,133
Operating lease liabilities 13,003 13,264
Accrued expenses and other liabilities 6,635 6,799
Total liabilities 1,114,043 1,212,689
Shareholders’ equity:    
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,108,072 and 4,108,609 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 54,390 54,371
Accumulated other comprehensive loss, net (2,054) (1,960)
Unearned compensation (282) (335)
Retained earnings 14,083 19,763
Total shareholders’ equity 81,867 87,569
Total liabilities and shareholders’ equity 1,195,910 1,300,258
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