Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Assets [Abstract]    
Cash and due from banks $ 1,223,000 $ 1,000,000
Interest-bearing bank deposits 52,258,000 30,388,000
Cash and cash equivalents 53,481,000 31,388,000
Time deposits with other financial institutions 1,494,000 1,991,000
Securities available for sale 71,249,000 82,135,000
Federal Home Loan Bank stock (FHLB) 585,000 550,000
Loans held for sale 1,218,000 380,000
Loans, net of unearned income 131,557,000 121,799,000
Allowance for credit losses on loans (1,201,000) (1,176,000)
Loans, net 130,356,000 120,623,000
Premises and equipment, net 5,311,000 5,285,000
Interest Receivable 870,000 758,000
Bank-owned life insurance (BOLI) 9,661,000 9,441,000
Other assets 4,463,000 4,225,000
Total assets 278,688,000 256,776,000
Deposits:    
Noninterest bearing 11,896,000 12,424,000
Interest-bearing    
Demand and NOW checking 14,930,000 15,346,000
Money market 28,967,000 32,027,000
Savings 41,544,000 41,774,000
Time deposits over $250,000 21,990,000 9,975,000
Other time deposits 70,829,000 57,280,000
Total deposits 190,156,000 168,826,000
Escrow deposits 1,739,000 1,382,000
Other borrowings 5,000,000 5,000,000
Accrued expenses and other liabilities 5,303,000 4,023,000
Total liabilities 202,198,000 179,231,000
Stockholders' equity:    
Common stock ($0.01 par value; 10,000,000 shares authorized; 5,249,826 and 5,315,261 shares outstanding at December 31, 2024 and December 31, 2023, respectively) 56,000 56,000
Treasury Stock, at cost (352,033 and 269,898 shares at December 31, 2024 and 2023, respectively) (3,240,000) (2,381,000)
Additional paid-in capital 51,684,000 50,920,000
Retained earnings 40,266,000 41,055,000
Unallocated common shares held by ESOP (3,670,000) (3,882,000)
Accumulated other comprehensive loss, net (8,606,000) (8,223,000)
Total stockholders' equity 76,490,000 77,545,000
Total liabilities and stockholders' equity $ 278,688,000 $ 256,776,000