v3.26.1
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 120,072,000 $ 138,453,000
Available-for-sale (“AFS”) securities, at fair value (amortized cost of $8,586 and $8,770 as of June 30, 2026 and December 31, 2025, respectively) 7,575,000 7,699,000
Held-to-maturity (“HTM”) securities, at amortized cost (fair value of $1,572 and $1,578 at June 30, 2026 and December 31, 2025, respectively) 1,876,000 1,892,000
Equity securities 5,000,000 0
Loans held-for-sale 1,591,000 542,000
Loans held-for-portfolio 891,969,000 905,533,000
Allowance for credit losses (“ACL”) on loans (8,420,000) (8,605,000)
Total loans held-for-portfolio, net 883,549,000 896,928,000
Accrued interest receivable 3,747,000 3,771,000
Bank-owned life insurance (“BOLI”), net 24,055,000 23,327,000
Other real estate owned (“OREO”) and repossessed assets, net 47,000 344,000
Mortgage servicing rights (“MSRs”), at fair value 4,277,000 4,183,000
Federal Home Loan Bank ("FHLB") stock, at cost 670,000 1,060,000
Premises and equipment, net 4,127,000 4,239,000
Right of use assets 2,889,000 3,423,000
Other assets 6,249,000 6,312,000
Total assets 1,065,724,000 1,092,173,000
Deposits    
Interest-bearing 801,541,000 816,309,000
Noninterest-bearing demand 129,340,000 132,566,000
Total deposits 930,881,000 948,875,000
Borrowings 0 10,000,000
Accrued interest payable 634,000 674,000
Lease liabilities 3,103,000 3,671,000
Other liabilities 9,597,000 10,366,000
Advance payments from borrowers for taxes and insurance 1,119,000 1,387,000
Subordinated notes, net 7,822,000 7,801,000
Total liabilities 953,156,000 982,774,000
COMMITMENTS AND CONTINGENCIES (NOTE 7) 0 0
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding 0 0
Common stock, $0.01 par value, 40,000,000 shares authorized, 2,568,043 and 2,567,953 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 25,000 25,000
Additional paid-in capital 28,846,000 28,737,000
Retained earnings 84,496,000 81,483,000
Accumulated other comprehensive loss, net of tax (799,000) (846,000)
Total stockholders’ equity 112,568,000 109,399,000
Total liabilities and stockholders’ equity $ 1,065,724,000 $ 1,092,173,000