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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 111,510 $ 27,182
Federal funds sold 2,085 1,715
Total cash and cash equivalents 113,595 28,897
Available-for-sale securities, at fair value 78,661 56,690
Held-to-maturity securities, at amortized cost, net of allowance for credit losses 5,665 5,684
Loans held for investment 676,092 457,027
Allowance for credit losses (10,160) (5,860)
Loans held for investment, net 665,932 451,167
Other real estate owned 3,000
Premises and equipment, net 8,414 7,350
Operating leases right-of-use assets 4,069 1,819
Other investments 6,244 4,063
Accrued interest receivable 2,613 1,597
Deferred income tax asset, net 9,027 4,884
Bank owned life insurance 12,063 11,847
Core deposit intangible, net 7,589
Prepaid and other assets 4,223 4,267
Total assets 918,095 581,265
Deposits    
Demand deposits 218,589 88,091
Savings and NOW deposits 332,923 243,505
Time deposits 241,055 128,403
Total deposits 792,567 459,999
Federal Reserve Bank BTFP Advances 29,000
Subordinated debt, net of issuance costs 23,149 24,595
Subordinated debentures, trust preferred securities 4,203
Escrows 141 168
Operating lease liabilities 4,619 2,011
Accrued interest and other liabilities 6,901 4,771
Total liabilities 831,580 520,544
STOCKHOLDERS’ EQUITY    
Additional paid-in capital 67,315 43,279
Retained earnings 25,990 24,301
Accumulated other comprehensive loss (5,578) (5,560)
Unearned Employee Stock Ownership Plan (ESOP) shares (1,287) (1,346)
Total stockholders’ equity 86,515 60,721
Total liabilities and stockholders’ equity 918,095 581,265
Voting Common Stock [Member]    
STOCKHOLDERS’ EQUITY    
Non-voting common stock, $0.01 par value Issued and outstanding: 820,115 on December 31, 2024, and December 31, 2023 67 39
Nonvoting Common Stock [Member]    
STOCKHOLDERS’ EQUITY    
Non-voting common stock, $0.01 par value Issued and outstanding: 820,115 on December 31, 2024, and December 31, 2023 $ 8 $ 8