XML 12 R2.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Cash and due from banks $ 16,842 $ 18,965
Interest earning deposits with other banks (restricted cash of $0 at March 31, 2021 and December 31, 2020) 187,472 144,152
Investment securities, available for sale, at fair value 20,378 20,399
Investment securities, held to maturity, at amortized cost 2,515 2,848
Other investments 6,829 6,059
Loans receivable 1,766,723 1,547,138
Allowance for loan losses (19,610) (19,262)
Total loans receivable, net 1,747,113 1,527,876
Premises and equipment, net 17,194 17,108
Operating lease right-of-use assets 6,900 7,120
Accrued interest receivable 8,597 8,616
Bank-owned life insurance, net 7,133 7,082
Deferred tax asset, net 3,802 3,799
Other assets 4,584 2,098
Total assets 2,029,359 1,766,122
LIABILITIES    
Deposits 1,671,715 1,421,307
Federal Home Loan Bank ("FHLB") advances 24,999 24,999
Paycheck Protection Program Liquidity Facility 158,519 153,716
Principal amount $10,000 (less unamortized debt issuance costs of $4 and $7 at March 31, 2021 and December 31, 2020, respectively) 9,996 9,993
Principal amount $3,609 (less unamortized debt issuance costs of $24 and $25 at March 31, 2021 and December 31, 2020, respectively) 3,585 3,584
Deferred compensation 833 863
Accrued interest payable 538 531
Operating lease liabilities 7,105 7,323
Other liabilities 5,330 3,589
Total liabilities 1,882,620 1,625,905
SHAREHOLDERS’ EQUITY    
Authorized: 25,000,000 shares at March 31, 2021 and December 31, 2020; issued and outstanding: zero shares at March 31, 2021 and December 31, 2020
Authorized: 300,000,000 shares at March 31, 2021 and December 31, 2020; 11,988,636 shares at March 31, 2021 issued and outstanding and 11,954,327 shares at December 31, 2020 issued and outstanding 88,329 87,815
Retained earnings 58,386 52,368
Accumulated other comprehensive income (loss), net of tax 24 34
Total shareholders’ equity 146,739 140,217
Total liabilities and shareholders’ equity $ 2,029,359 $ 1,766,122