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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Assets    
Cash and due from banks $ 3,017 $ 4,101
Fed funds sold 16,589 35,276
Cash and cash equivalents 19,606 39,377
Available for sale securities, stated at fair value 59,076 48,179
Loans held for sale 1,467 200
Loans, net of allowance for loan and lease losses of $2,542 and $2,264, respectively 198,673 189,291
Premises and equipment, net 4,687 4,807
Foreclosed assets 347 84
Other equity investments 780 780
Accrued interest receivable 899 725
Cash value of life insurance 7,167 7,068
Other assets 679 1,707
TOTAL ASSETS 293,381 292,218
Liabilities and Equity    
Deposits 175,081 217,252
Advance payments by borrowers for taxes and insurance 827 46
FHLB advances 13,500 11,500
Accrued interest payable 365 51
Other liabilities 1,636 1,499
Total liabilities 191,409 230,348
Preferred stock ($0.01 par value, 1,000,000 authorized, no shares issued or outstanding as of June 30, 2020 and December 31, 2019, respectively)
Common stock ($0.01 par value, 19,000,000 shares authorized, 7,704,875 and 7,867,008 shares issued, 7,704,875 and 7,702,478 shares outstanding as of June 30, 2020 and December 31, 2019, respectively) [1] 77 67
Additional paid in capital 69,025 28,672
Unallocated common stock of Employee Stock Ownership Plan ("ESOP") (595,314 and 270,192 shares at June 30, 2020 and December 31, 2019, respectively) [1] (5,965) (2,303)
Retained earnings 37,323 36,551
Accumulated other comprehensive income (loss), net of income taxes 1,512 344
Less treasury stock, 0 and 164,530 shares at cost, at June 30, 2020 and December 31, 2019, respectively [1]   (1,461)
Total equity 101,972 61,870
TOTAL LIABILITIES AND EQUITY $ 293,381 $ 292,218
[1] Share and per share amounts related to periods prior to the date of the completion of the Conversion (January 16, 2020) have been restated to give retroactive recognition to the exchange ratio applied to the Conversion (1.1730 to one)