XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Assets    
Cash and due from banks $ 16,164 $ 108,990
Federal funds sold 37,320 0
Interest-bearing deposits with banks 34,659 30,664
Securities available for sale ("AFS"), at fair value 485,456 497,839
Equity securities carried at fair value through income 4,423 4,772
Non-marketable equity securities held in other financial institutions 207 207
Federal Home Loan Bank ("FHLB") stock - at cost 1,234 1,472
Net loans 1,636,077 1,586,791
Goodwill 10,835 10,835
Premises and equipment, net 21,802 21,427
Accrued interest receivable 6,099 5,588
Investment in bank owned life insurance 39,363 38,932
Core deposit intangible 821 1,032
Net deferred tax assets 20,223 9,033
Right of use assets - operating leases 6,123 6,124
Other assets 2,708 3,600
Total Assets 2,323,514 2,327,306
Liabilities and Stockholders’ Equity    
Non-interest-bearing deposits 635,649 445,778
Interest-bearing deposits 1,449,727 1,610,386
Total Deposits 2,085,376 2,056,164
Long-term debt 0 12,231
Guaranteed preferred beneficial interest in junior subordinated debentures ("TRUPs") 12,000 12,000
Subordinated notes net of debt issuance costs - 4.75% 19,538 19,510
Lease liabilities - operating leases 6,372 6,343
Accrued expenses and other liabilities 15,357 12,925
Total Liabilities 2,138,643 2,119,173
Stockholders’ Equity    
Common stock - par value $0.01; authorized - 15,000,000 shares; issued 5,649,729 and 5,718,528 shares, respectively 56 57
Additional paid in capital 97,455 96,896
Retained earnings 119,523 113,448
Accumulated other comprehensive losses (31,847) (1,952)
Unearned ESOP shares (316) (316)
Total Stockholders’ Equity 184,871 208,133
Total Liabilities and Stockholders’ Equity 2,323,514 2,327,306
U.S. SBA PPP    
Assets    
Net loans 5,022 26,398
Portfolio Loans    
Assets    
Net loans $ 1,631,055 $ 1,560,393