v3.26.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Cash and due from banks $ 12,835 $ 13,504
Interest-bearing deposits at other financial institutions 16,875 14,715
Total cash and cash equivalents 29,710 28,219
Securities available-for-sale, at fair value (amortized cost of $291,317 and $310,097, net of allowance for credit losses of $0 and $0, respectively) 269,460 288,667
Securities held-to-maturity, at amortized cost (fair value of $35,183 and $34,396, net of allowance for credit losses of $277 and $277, respectively) 34,845 33,224
Loans held for sale, at fair value 30,548 43,705
Loans receivable, net of allowance for credit losses of $31,165 and $31,937 (includes loans of $13,159 and $13,183, at fair value, respectively) 2,628,992 2,623,172
Accrued interest receivable 14,263 14,614
Premises and equipment, net 43,455 44,065
Long-lived assets held for sale 3,258 3,258
Operating lease right-of-use (“ROU”) assets 6,655 5,789
Federal Home Loan Bank (“FHLB”) stock, at cost 14,420 7,971
Deferred tax asset, net 6,441 6,993
Bank owned life insurance (“BOLI”), net 36,771 36,249
Goodwill 3,592 3,592
Core deposit intangible, net 9,052 10,518
Other assets 38,706 38,203
TOTAL ASSETS 3,179,080 3,196,847
LIABILITIES    
Noninterest-bearing accounts 641,856 658,123
Interest-bearing accounts 1,807,026 2,015,519
Total deposits 2,448,882 2,673,642
Borrowings 324,500 129,305
Subordinated notes:    
Principal amount 50,000 50,000
Unamortized debt issuance costs (306) (339)
Total subordinated notes less unamortized debt issuance costs 49,694 49,661
Operating lease liabilities 6,753 5,889
Other liabilities 30,291 30,656
Total liabilities 2,860,120 2,889,153
COMMITMENTS AND CONTINGENCIES (NOTE 8)
STOCKHOLDERS’ EQUITY    
Preferred stock, $.01 par value; 5,000,000 shares authorized; none issued or outstanding 0 0
Common stock, $.01 par value; 45,000,000 shares authorized; 7,423,772 and 7,507,519 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 74 75
Additional paid-in capital 40,886 43,251
Retained earnings 291,635 280,197
Accumulated other comprehensive loss, net of tax (13,635) (15,829)
Total stockholders’ equity 318,960 307,694
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 3,179,080 3,196,847
Mortgage Servicing Rights [Member]    
Mortgage servicing rights (“MSRs”), held at the lower of cost or fair value $ 8,912 $ 8,608