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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Assets    
Cash and due from banks $ 19,102 $ 65,300
Fed funds sold 1,119 1,503
Cash and cash equivalents 20,221 66,803
Marketable equity securities, stated at fair value 2,867 3,544
Available-for-sale securities, stated at fair value 126,676 112,440
Loans held for sale 262 1,183
Loans, net of allowance for loan losses of $3,132 and $2,858 at June 30, 2022 and December 31, 2021, respectively 349,619 323,789
Premises and equipment, net 5,685 5,864
Mortgage servicing rights, net 1,939 2,036
Federal Home Loan Bank (FHLB) stock, at cost 3,032 3,032
Accrued interest receivable 1,027 948
Cash value of life insurance 14,101 13,892
Other assets 10,197 6,108
TOTAL ASSETS 535,626 539,639
Liabilities and Stockholders' Equity    
Deposits 383,062 384,501
Advance payments by borrowers for taxes and insurance 7,739 1,860
FHLB advances 57,435 55,442
Accrued interest payable 128 109
Other liabilities 6,296 6,834
TOTAL LIABILITIES 454,660 448,746
Preferred stock, $0.01 par value, 10,000,000 shares authorized at June 30, 2022 and December 31, 2021 0 0
Common stock (par value $0.01 per share) Authorized – 90,000,000 shares at June 30, 2022 and December 31, 2021 Issued – 6,402,704 at June 30, 2022 and 6,402,571 at December 31, 2021 (includes 80,967 and 97,128 unvested shares, respectively) Outstanding – 6,372,641 at June 30, 2022 and 6,372,508 at December 31, 2021 (includes 80,967 and 97,128 unvested shares, respectively) 64 64
Additional paid-in capital 52,855 52,805
Unallocated common stock of Employee Stock Ownership Plan (ESOP), 463,658 and 377,077 shares at June 30, 2022 and December 31, 2021, respectively (4,401) (3,432)
Less treasury stock at cost, 30,063 shares at June 30, 2022 and December 31, 2021 (301) (301)
Retained earnings 41,319 41,615
Accumulated other comprehensive (loss) income, net of income taxes (8,570) 142
Total stockholders' equity 80,966 90,893
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 535,626 $ 539,639