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Consolidated Statements of Financial Condition - USD ($)
Dec. 31, 2019
Dec. 31, 2018
ASSETS:    
Cash and due from banks $ 18,094,000 $ 10,144,000
Interest bearing deposits in banks 4,284,000 1,057,000
Federal funds sold 2,540,000
Total cash and cash equivalents 24,918,000 11,201,000
Securities available-for-sale 126,875,000 142,165,000
Federal Home Loan Bank ("FHLB") stock 4,683,000 5,011,000
Federal Reserve Bank ("FRB") stock 2,526,000 2,033,000
Mortgage loans held-for-sale, at fair value 25,612,000 7,318,000
Loans receivable, net of allowance for loan losses of $8,600 and $6,600 at December 31, 2019 and 2018, respectively 770,635,000 610,333,000
Accrued interest and dividends receivable 4,577,000 3,479,000
Mortgage servicing rights, net 8,739,000 7,100,000
Premises and equipment, net 40,082,000 29,343,000
Cash surrender value of life insurance, net 23,608,000 20,545,000
Goodwill 15,836,000 12,124,000
Core deposit intangible, net 2,786,000 1,498,000
Deferred tax asset, net 1,190,000
Other assets 3,383,000 563,000
Total assets 1,054,260,000 853,903,000
LIABILITIES:    
Noninterest bearing 200,035,000 142,788,000
Interest bearing 608,958,000 483,823,000
Total deposits 808,993,000 626,611,000
Accrued expenses and other liabilities 9,825,000 5,388,000
Deferred tax liability, net 492,000
FHLB advances and other borrowings 88,350,000 102,222,000
Other long-term debt:    
Principal amount 25,155,000 25,155,000
Unamortized debt issuance costs (214,000) (279,000)
Total other long-term debt, net 24,941,000 24,876,000
Total liabilities 932,601,000 759,097,000
COMMITMENTS AND CONTINGENCIES (NOTE 11)
SHAREHOLDERS' EQUITY:    
Preferred stock (par value $0.01 per share; 1,000,000 shares authorized; no shares issued or outstanding)
Common stock ($0.01 par value; 20,000,000 and 8,000,000 shares authorized; 6,714,983 and 5,718,942 shares issued; 6,423,033 and 5,477,652 shares outstanding at December 31, 2019 and 2018, respectively) 67,000 57,000
Additional paid-in capital 68,826,000 52,051,000
Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") (311,000) (477,000)
Treasury stock, at cost (3,643,000) (2,640,000)
Retained earnings 55,391,000 46,926,000
Net accumulated other comprehensive income (loss), net of tax 1,329,000 (1,111,000)
Total shareholders' equity 121,659,000 94,806,000
Total liabilities and shareholders' equity $ 1,054,260,000 $ 853,903,000