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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and due from banks $ 9,324 $ 6,096 [1]
Interest-earning deposits 50,069 34,358 [1]
Federal funds sold 152 1,359 [1]
Certificates of deposit 1,266 2,754 [1]
Available-for-sale securities, at fair value 87,853 99,454 [1]
Restricted securities 5,022 5,706 [1]
Loans receivable, net of allowance for loan losses of $12,899 and $7,562, respectively 1,041,711 916,628 [1]
Loans held for sale 2,687 1,231 [1]
Premises and equipment, net 17,859 20,141 [1]
Accrued interest receivable 4,664 3,035 [1]
Other real estate owned, net 1,113 1,916 [1]
Bank owned life insurance 20,103 19,752 [1]
Goodwill [1]   10,374
Mortgage servicing rights 845 935 [1]
Other assets 7,820 6,666 [1]
Total assets 1,251,582 1,131,923 [1]
LIABILITIES    
Noninterest-bearing demand deposits 190,843 137,933 [1]
Savings and interest-bearing demand deposits 424,001 382,607 [1]
Time deposits 412,837 389,900 [1]
Total deposits 1,027,681 910,440 [1]
Securities sold under repurchase agreements 1,117 6,525 [1]
Federal Home Loan Bank advances 25,000 45,000 [1]
Federal Reserve Bank advances 32,637  
Subordinated notes, net of issuance costs 31,083 31,001 [1]
Other liabilities 12,635 12,772 [1]
Total liabilities 1,130,153 1,005,738 [1]
SHAREHOLDERS’ EQUITY    
Common stock ($5 par value; authorized - 30,000,000 shares; outstanding - 13,342,104 and 13,261,801 shares, respectively) [2] 66,711 66,309 [1]
Additional paid-in capital 36,816 36,658 [1]
Unearned employee stock ownership plan shares (1,326) (1,525) [1]
Retained earnings 18,012 24,660 [1]
Accumulated other comprehensive income, net 1,216 83 [1]
Total shareholders’ equity 121,429 126,185 [1]
Total liabilities and shareholders’ equity 1,251,582 1,131,923 [1]
Core Deposits    
ASSETS    
Intangible $ 1,094 $ 1,518 [1]
[1] Derived from audited December 31, 2019 Consolidated Financial Statements.
[2] Preferred stock is authorized; however, none was outstanding as of September 30, 2020 and December 31, 2019.