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
Sep. 30, 2023
Dec. 31, 2022
Assets:    
Cash and due from banks $ 1,174 $ 1,583
Interest-bearing bank deposits 9,515 11,564
Cash and cash equivalents 10,689 13,147
Time deposits with other financial institutions 1,742 4,477
Securities available for sale 109,526 121,205
Federal Home Loan Bank stock (FHLB) 550 550
Loans held for sale 177 0
Loans, net of unearned income 107,871 103,983
Allowance for credit losses on loans (1,061) (624)
Loans, net 106,810 103,359
Premises and equipment, net 4,921 5,035
Accrued interest receivable 805 852
Bank-owned life insurance (BOLI) 9,390 9,249
Other assets 7,176 6,332
Total assets 251,786 264,206
Deposits:    
Noninterest bearing 12,261 12,977
Interest-bearing    
Demand and NOW checking 15,234 18,659
Money market 33,788 42,624
Savings 43,486 49,068
Time deposits over $250,000 8,959 8,801
Other time deposits 51,602 46,585
Total deposits 165,330 178,714
Escrow deposits 805 1,253
Outstanding advances 5,000 0
Accrued expenses and other liabilities 3,490 3,697
Total liabilities 174,625 183,664
Stockholders' equity:    
Common Stock ($0.01 par value; 10,000,000 shares authorized; 5,585,159 and 5,397,959 shares issued and 5,432,478 and 5,397,959 shares outstanding at September 30, 2023 and December 31, 2022, respectively) 56 54
Treasury Stock (152,681 shares at September 30, 2023) (1,355) 0
Additional paid-in capital 50,606 50,420
Retained earnings 44,824 45,291
Unallocated common shares held by ESOP (3,936) (4,098)
Accumulated other comprehensive loss, net (13,034) (11,125)
Total stockholders' equity 77,161 80,542
Total liabilities and stockholders' equity $ 251,786 $ 264,206