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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Cash and due from banks $ 21,823 $ 22,750
Interest-bearing deposits 194,549 196,561
Cash and cash equivalents 216,372 219,311
Securities:    
Debt securities available for sale (amortized cost of $39,558 in 2021 and $45,921 in 2020) 39,763 45,617
Securities held to maturity (fair value of $5,164 in 2021) 5,151 0
Equity securities with readily determinable fair values (amortized cost of $4,563 in 2021 and $2,112 in 2020) 4,893 1,954
Total securities 49,807 47,571
Loans:    
SBA loans held for sale 20,130 9,335
Loans 1,644,761 1,618,482
Total loans 1,664,891 1,627,817
Allowance for loan losses (22,537) (23,105)
Net loans 1,642,354 1,604,712
Premises and equipment, net 20,106 20,226
Bank owned life insurance ("BOLI") 26,587 26,514
Deferred tax assets 10,987 9,183
Federal Home Loan Bank ("FHLB") stock 4,403 10,594
Accrued interest receivable 9,684 10,429
Goodwill 1,516 1,516
Prepaid expenses and other assets 9,299 8,858
Total assets 1,991,115 1,958,914
Deposits:    
Noninterest-bearing demand 520,572 459,677
Interest-bearing demand 244,015 204,236
Savings 622,087 455,449
Time, under $100,000 217,302 264,671
Time, $100,000 to $250,000 65,570 95,595
Time, $250,000 and over 36,639 78,331
Total deposits 1,706,185 1,557,959
Borrowed funds 60,000 200,000
Subordinated debentures 10,310 10,310
Accrued interest payable 158 248
Accrued expenses and other liabilities 18,195 16,486
Total liabilities 1,794,848 1,785,003
Shareholders' equity:    
Common stock 93,409 91,873
Retained earnings 114,337 90,669
Treasury stock (11,547) (7,442)
Accumulated other comprehensive income (loss) 68 (1,189)
Total shareholders' equity 196,267 173,911
Total liabilities and shareholders' equity 1,991,115 1,958,914
SBA loans held for investment    
Loans:    
Loans 37,986 39,587
Allowance for loan losses (778) (1,301)
SBA PPP loans    
Loans:    
Loans 81,907 118,257
Commercial loans    
Loans:    
Loans 924,037 839,788
Allowance for loan losses (15,836) (14,992)
Residential mortgage loans    
Loans:    
Loans 420,835 467,586
Allowance for loan losses (4,106) (5,318)
Consumer loans    
Loans:    
Loans 71,071 66,100
Allowance for loan losses (749) (681)
Residential construction loans    
Loans:    
Loans 108,925 87,164
Allowance for loan losses $ (1,068) $ (813)