v3.24.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Assets:    
Cash and due from banks $ 1,000,000 $ 1,583,000
Interest-bearing bank deposits 30,388,000 11,564,000
Cash and cash equivalents 31,388,000 13,147,000
Time deposits with other financial institutions 1,991,000 4,477,000
Securities available for sale 82,135,000 121,205,000
Federal Home Loan Bank stock (FHLB) 550,000 550,000
Loans held for sale 380,000 0
Loans, net of unearned income 121,799,000 103,983,000
Allowance for credit losses on loans (1,176,000) (624,000)
Loans, net 120,623,000 103,359,000
Premises and equipment, net 5,285,000 5,035,000
Accrued interest receivable 758,000 852,000
Bank-owned life insurance (BOLI) 9,441,000 9,249,000
Other assets 4,225,000 6,332,000
Total assets 256,776,000 264,206,000
Deposits:    
Noninterest bearing 12,424,000 12,977,000
Interest-bearing    
Demand and NOW checking 15,346,000 18,659,000
Money market 32,027,000 42,624,000
Savings 41,774,000 49,068,000
Time deposits over $250,000 9,975,000 8,801,000
Other time deposits 57,280,000 46,585,000
Total deposits 168,826,000 178,714,000
Escrow deposits 1,382,000 1,253,000
Other borrowings 5,000,000 0
Accrued expenses and other liabilities 4,023,000 3,697,000
Total liabilities 179,231,000 183,664,000
Stockholders' equity:    
Common stock ($0.01 par value; 10,000,000 shares authorized; 5,315,261 and 5,397,959 shares outstanding at December 31, 2023 and December 31, 2022, respectively) 56,000 54,000
Treasury Stock, at cost (269,898 shares at December 31, 2023) (2,381,000) 0
Additional paid-in capital 50,920,000 50,420,000
Retained earnings 41,055,000 45,291,000
Unallocated common shares held by ESOP (3,882,000) (4,098,000)
Accumulated other comprehensive loss, net (8,223,000) (11,125,000)
Total stockholders' equity 77,545,000 80,542,000
Total liabilities and stockholders' equity $ 256,776,000 $ 264,206,000

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