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
Jun. 30, 2023
Dec. 31, 2022
Assets:    
Cash and due from banks $ 1,045 $ 1,583
Interest-bearing bank deposits 10,211 11,564
Cash and cash equivalents 11,256 13,147
Time deposits with other financial institutions 2,240 4,477
Securities available for sale 116,694 121,205
Federal Home Loan Bank stock (FHLB) 550 550
Loans, net of unearned income 105,777 103,983
Allowance for credit losses on loans (1,010) (624)
Loans, net 104,767 103,359
Premises and equipment, net 4,911 5,035
Accrued interest receivable 815 852
Bank-owned life insurance (BOLI) 9,341 9,249
Other assets 6,281 6,332
Total assets 256,855 264,206
Deposits:    
Noninterest bearing 13,413 12,977
Interest-bearing    
Demand and NOW checking 16,129 18,659
Money market 37,544 42,624
Savings 45,976 49,068
Time deposits over $250,000 6,978 8,801
Other time deposits 47,203 46,585
Total deposits 167,243 178,714
Escrow deposits 1,266 1,253
Other borrowings 5,000 0
Accrued expenses and other liabilities 3,264 3,697
Total liabilities 176,773 183,664
Stockholders' equity:    
Common Stock ($0.01 par value; 10,000,000 shares authorized; 5,585,159 and 5,397,959 shares issued and 5,510,864 and 5,397,959 shares outstanding at June 30, 2023 and December 31, 2022, respectively) 56 54
Treasury Stock (74,295 shares at June 30, 2023) (649) 0
Additional paid-in capital 50,440 50,420
Retained earnings 45,056 45,291
Unallocated common shares held by ESOP (3,990) (4,098)
Accumulated other comprehensive loss, net (10,831) (11,125)
Total stockholders' equity 80,082 80,542
Total liabilities and stockholders' equity $ 256,855 $ 264,206