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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Assets    
Cash and due from banks $ 1,208 $ 1,419
Interest-earning demand deposits 2,011 8,438
Federal funds sold 17,751
Cash and cash equivalents 20,970 9,857
Interest-earning time deposits in banks 744 992
Loans, net of allowance for loan losses of $1,086, and $1,063 at June 30, 2017 and December 31, 2016, respectively 90,831 83,008
Premises and equipment 1,892 1,934
Federal Home Loan Bank stock 468 468
Foreclosed real estate held for sale, net 303 586
Accrued interest receivable 220 203
Bank owned life insurance 5,503 5,418
Mortgage servicing rights 802 483
Prepaid expenses and other assets 283 269
Total assets 122,016 103,218
Liabilities    
Demand 38,004 28,676
Savings and money market accounts 16,129 16,404
Time 41,379 31,761
Total deposits 95,512 76,841
Federal funds purchased 1,000
Borrowings 10,027 10,027
Other liabilities 1,406 781
Total liabilities 106,945 88,649
Commitments and Contingencies
Redeemable common stock held by Employee Stock Ownership Plan (ESOP) 102 73
Shareholders' Equity    
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued
Common stock, $0.01 par value, 4,000,000 shares authorized, 719,531 and 696,600 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 7 7
Additional paid-in capital 5,770 5,761
Unearned ESOP shares (488) (501)
Retained earnings 9,782 9,302
Total shareholders' equity 15,071 14,569
Less maximum cash obligation related to ESOP shares (102) (73)
Total shareholders' equity less maximum cash obligation related to ESOP shares 14,969 14,496
Total liabilities and shareholders' equity $ 122,016 $ 103,218