Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Current Period Unaudited)

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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets:    
Cash and due from banks $ 1,080 $ 1,000
Interest-bearing bank deposits 35,280 30,388
Cash and cash equivalents 36,360 31,388
Time deposits with other financial institutions 1,991 1,991
Securities available for sale 79,799 82,135
Federal Home Loan Bank stock (FHLB) 550 550
Loans held for sale 1,286 380
Loans, net of unearned income 127,014 121,799
Allowance for credit losses on loans (1,177) (1,176)
Loans, net 125,837 120,623
Premises and equipment, net 5,227 5,285
Accrued interest receivable 841 758
Bank-owned life insurance (BOLI) 9,494 9,441
Other assets 4,179 4,225
Total assets 265,564 256,776
Deposits:    
Noninterest bearing 12,228 12,424
Interest-bearing    
Demand and NOW checking 15,872 15,346
Money market 31,651 32,027
Savings 42,154 41,774
Time deposits over $250,000 15,043 9,975
Other time deposits 61,099 57,280
Total deposits 178,047 168,826
Escrow deposits 2,081 1,382
Other borrowings 5,000 5,000
Accrued expenses and other liabilities 3,474 4,023
Total liabilities 188,602 179,231
Stockholders' equity:    
Common Stock ($0.01 par value; 10,000,000 shares authorized; 5,315,261 shares outstanding at March 31, 2024 and December 31, 2023) 56 56
Treasury Stock, at cost (269,898 shares at March 31, 2024 and December 31, 2023) (2,381) (2,381)
Additional paid-in capital 51,080 50,920
Retained earnings 40,809 41,055
Unallocated common shares held by ESOP (3,829) (3,882)
Accumulated other comprehensive loss, net (8,773) (8,223)
Total stockholders' equity 76,962 77,545
Total liabilities and stockholders' equity $ 265,564 $ 256,776