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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Assets    
Cash and due from banks $ 112,314 $ 56,887
Interest-bearing deposits with banks 34,929 20,178
Investment securities - AFS 456,664 246,105
Equity securities carried at fair value through income 4,805 4,855
Non-marketable equity securities held in other financial institutions 207 207
Federal Home Loan Bank ("FHLB") stock - at cost 1,472 2,777
Net loans 1,569,644 1,594,075
Goodwill 10,835 10,835
Premises and equipment, net 21,795 20,271
Other real estate owned ("OREO") 1,536 3,109
Accrued interest receivable 6,045 8,717
Investment in bank owned life insurance 38,713 38,061
Core deposit intangible 1,147 1,527
Net deferred tax assets 8,790 7,909
Right of use assets - operating leases 6,215 7,831
Other assets 3,581 3,095
Total Assets 2,278,692 2,026,439
Liabilities and Stockholders’ Equity    
Non-interest-bearing deposits 432,606 362,079
Interest-bearing deposits 1,572,001 1,383,523
Total deposits 2,004,607 1,745,602
Long-term debt 12,249 27,302
Guaranteed preferred beneficial interest in junior subordinated debentures ("TRUPs") 12,000 12,000
Subordinated notes net of debt issuance costs - 4.75% 19,496 19,526
Lease liabilities - operating leases 6,418 8,088
Accrued expenses and other liabilities 19,794 15,908
Total Liabilities 2,074,564 1,828,426
Stockholders’ Equity    
Common stock - par value $0.01; authorized - 15,000,000 shares; issued 5,724,011 and 5,903,613 shares, respectively 57 59
Additional paid in capital 96,649 95,965
Retained earnings 107,890 97,944
Accumulated other comprehensive (loss) income (9) 4,504
Unearned ESOP shares (459) (459)
Total Stockholders’ Equity 204,128 198,013
Total Liabilities and Stockholders’ Equity $ 2,278,692 2,026,439
Subordinated notes interest rate 4.75%  
U.S. SBA PPP Loans    
Assets    
Net loans $ 54,807 107,960
Portfolio Loans    
Assets    
Net loans $ 1,514,837 $ 1,486,115