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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and cash equivalents $ 126,192 $ 44,806
Investment securities available for sale, at fair value 4,212 8,628
Investment securities held to maturity, at amortized cost (fair value of $351,799 and $371,305 at June 30, 2020 and December 31, 2019, respectively) 332,533 363,883
Loans held for sale 2,840 470
Loans receivable, net 1,537,567 1,584,784
Federal Home Loan Bank stock, at cost 8,144 8,723
Federal Reserve Bank stock, at cost 3,134 3,128
Accrued interest receivable 6,469 5,409
Premises and equipment, net 4,496 4,370
Right-of-use asset, net 11,912 11,580
Bank-owned life insurance 45,516 45,113
Deferred income tax assets, net 2,865 2,619
Prepaid expenses and other assets 2,707 2,800
Total assets 2,088,587 2,086,313
Liabilities:    
Deposits 1,645,312 1,631,933
Advances from the Federal Home Loan Bank 141,000 156,000
Securities sold under agreements to repurchase 10,000 10,000
Accounts payable and accrued expenses 23,954 23,038
Lease liability 12,542 12,183
Income taxes payable 4,862 2,305
Advance payments by borrowers for taxes and insurance 6,890 6,964
Total liabilities 1,844,560 1,842,423
Stockholders' Equity:    
Preferred stock, $0.01 par value; authorized 50,000,000 shares, no shares issued or outstanding
Common stock, $0.01 par value; authorized 100,000,000 shares; issued and outstanding 9,513,867 and 9,681,493 shares at June 30, 2020 and December 31, 2019, respectively 95 97
Additional paid-in capital (60,606) (65,057)
Unearned ESOP shares (4,159) (4,404)
Retained earnings 195,348 190,808
Accumulated other comprehensive loss (7,863) (7,668)
Total stockholders' equity 244,027 243,890
Total liabilities and stockholders' equity $ 2,088,587 $ 2,086,313