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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Assets    
Cash and due from banks $ 11,978 $ 50,590
Available for sale securities (at fair value) 114,832 101,312
Loans receivable (net of allowance for loan losses of $5,954 and $6,646, respectively) 793,471 678,402
Federal Home Loan Bank stock 3,435 1,883
Accrued interest receivable 2,903 2,523
Cash surrender value of life insurance 18,457 18,018
Deferred tax assets (net of valuation allowance of $1,202 and $1,085, respectively) 2,255 2,934
Premises and equipment, net 18,338 17,040
Other real estate owned 1,417 1,685
Goodwill 1,410 1,410
Intangible assets, net 241 284
Other assets 5,209 6,342
Total assets 973,946 882,423
Deposits    
Noninterest bearing 179,236 171,829
Interest bearing 594,107 512,589
Total deposits 773,343 684,418
Mortgagors’ escrow accounts 8,106 7,725
Advances from the Federal Home Loan Bank 66,304 31,598
Subordinated debt 5,155 5,155
Other borrowings   5,000
Subscription offering proceeds   79,142
Accrued expenses and other liabilities 11,156 10,108
Total liabilities 864,064 823,146
Stockholders' Equity    
Preferred stock (par value $0.01 per share; 5,000,000 authorized, no shares issued)
Common stock (par value $0.01 per share; 25,000,000 authorized, 11,133,290 issued and outstanding) 111
Additional paid-in capital 45,869 100
Unearned common stock held by the employee stock ownership plan ("ESOP") (4,146)
Retained earnings 72,152 66,189
Accumulated other comprehensive loss:    
Net unrealized loss on available for sale securities, net of taxes (195) (2,576)
Defined benefit pension plan, net of taxes (3,909) (4,436)
Total accumulated other comprehensive loss (4,104) (7,012)
Total stockholders' equity 109,882 59,277
Total liabilities and stockholders' equity $ 973,946 $ 882,423