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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 20,668 $ 19,699
Interest-bearing deposits 174,108 95,094
Cash and cash equivalents 194,776 114,793
Securities:    
Debt securities available for sale (net of allowance for credit losses of $1,283 as of December 31, 2023 and $0 as of December 31, 2022) 91,765  
Debt securities available for sale (net of allowance for credit losses of $1,283 as of December 31, 2023 and $0 as of December 31, 2022)   95,393
Debt securities held to maturity 36,122  
Debt securities held to maturity   35,760
Equity securities with readily determinable fair values 7,802 9,793
Total securities 135,689 140,946
Loans:    
Total loans 2,172,063  
Allowance for credit losses (25,854)  
Net loans 2,146,209  
Loans:    
Total loans   2,106,559
Allowance for credit losses   (25,196)
Net loans   2,081,363
Premises and equipment, net 19,567 20,002
Bank owned life insurance ("BOLI") 25,230 26,776
Deferred tax assets 12,552 12,345
Federal Home Loan Bank ("FHLB") stock 18,435 19,064
Accrued interest receivable 13,582 13,403
Goodwill 1,516 1,516
Prepaid expenses and other assets 10,951 14,740
Total assets 2,578,507 2,444,948
Deposits:    
Noninterest-bearing demand 419,636 494,184
Interest-bearing demand 313,352 276,218
Savings 565,088 591,826
Brokered time deposits 199,667 154,563
Time deposits 426,397 270,737
Total deposits 1,924,140 1,787,528
Borrowed funds 356,438 383,000
Subordinated debentures 10,310 10,310
Accrued interest payable 1,924 691
Accrued expenses and other liabilities 24,265 24,192
Total liabilities 2,317,077 2,205,721
Shareholders' equity:    
Common stock, no par value, 12,500 shares authorized, 11,424 shares issued and 10,063 shares outstanding as of December 31, 2023; 12,500 shares authorized, 11,289 shares issued and 10,584 shares outstanding as of December 31, 2022 100,426 97,204
Retained earnings 191,108 156,958
Treasury stock, at cost (1,361 shares as of December 31, 2023 and 705 shares as of December 31, 2022) (27,367) (11,675)
Accumulated other comprehensive loss (2,737) (3,260)
Total shareholders' equity 261,430 239,227
Total liabilities and shareholders' equity 2,578,507 2,444,948
SBA loans held for sale    
Loans:    
Total loans 18,242  
Loans:    
Total loans   27,928
SBA loans held for investment    
Loans:    
Total loans 38,584  
Allowance for credit losses (1,221)  
Loans:    
Total loans   38,468
Allowance for credit losses   (875)
SBA PPP loans    
Loans:    
Total loans 2,318  
Loans:    
Total loans   5,908
Commercial loans    
Loans:    
Total loans 1,277,460  
Allowance for credit losses (15,876)  
Loans:    
Total loans   1,187,543
Allowance for credit losses   (15,254)
Residential mortgage loans    
Loans:    
Total loans 631,506  
Allowance for credit losses (6,529)  
Loans:    
Total loans   605,091
Allowance for credit losses   (5,450)
Consumer loans    
Loans:    
Total loans 72,676  
Allowance for credit losses (1,022)  
Loans:    
Total loans   78,164
Allowance for credit losses   (990)
Residential construction loans    
Loans:    
Total loans 131,277  
Allowance for credit losses $ (1,206)  
Loans:    
Total loans   163,457
Allowance for credit losses   $ (2,627)