Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets (Current Period Unaudited)

v3.25.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Cash and due from banks $ 973 $ 1,223
Interest-bearing bank deposits 56,481 52,258
Cash and cash equivalents 57,454 53,481
Time deposits with other financial institutions 1,494 1,494
Securities available for sale 70,319 71,249
Federal Home Loan Bank stock (FHLB) 585 585
Loans held for sale 2,595 1,218
Loans, net of unearned income 131,396 131,557
Allowance for credit losses on loans (1,156) (1,201)
Loans, net 130,240 130,356
Premises and equipment, net 5,290 5,311
Accrued interest receivable 860 870
Bank-owned life insurance (BOLI) 9,717 9,661
Other assets 4,146 4,463
Total assets 282,700 278,688
Deposits:    
Noninterest bearing 12,678 11,896
Interest-bearing    
Demand and NOW checking 18,283 14,930
Money market 28,929 28,967
Savings 42,101 41,544
Time deposits over $250,000 22,094 21,990
Other time deposits 69,599 70,829
Total deposits 193,684 190,156
Escrow deposits 2,436 1,739
Other borrowings 5,000 5,000
Accrued expenses and other liabilities 4,118 5,303
Total liabilities 205,238 202,198
Stockholders' equity:    
Common Stock ($0.01 par value; 10,000,000 shares authorized; 5,247,826 shares outstanding at March 31, 2025 and 5,249,826 shares at December 31, 2024) 56 56
Treasury Stock, at cost (352,033 shares at March 31, 2025 and December 31, 2024) (3,240) (3,240)
Additional paid-in capital 51,852 51,684
Retained earnings 39,938 40,266
Unallocated common shares held by ESOP (3,617) (3,670)
Accumulated other comprehensive loss, net (7,527) (8,606)
Total stockholders' equity 77,462 76,490
Total liabilities and stockholders' equity $ 282,700 $ 278,688