Consolidated Balance Sheets - USD ($)
$ in Thousands |
Sep. 30, 2020 |
Dec. 31, 2019 |
| Assets |
|
|
| Cash and due from banks |
$ 19,605
|
$ 19,967
|
| Federal funds sold |
18,482
|
0
|
| Total cash and cash equivalents |
38,087
|
19,967
|
| Investment securities available for sale |
36,305
|
46,937
|
| Restricted stock, at cost |
2,482
|
2,035
|
| Loans held for sale, at fair value |
27,525
|
12,722
|
| Loans |
|
|
| Outstandings |
600,089
|
429,295
|
| Allowance for loan losses |
(4,050)
|
(3,186)
|
| Deferred fees and costs, net |
(3,606)
|
764
|
| Total loans, net |
592,433
|
426,873
|
| Other real estate owned, net of valuation allowance |
336
|
526
|
| Assets held for sale, at fair value |
|
514
|
| Premises and equipment, net |
11,711
|
12,036
|
| Bank owned life insurance |
7,756
|
7,612
|
| Accrued interest receivable |
4,880
|
2,597
|
| Other assets |
5,849
|
8,494
|
| Total Assets |
727,364
|
540,313
|
| Deposits |
|
|
| Noninterest bearing demand |
217,204
|
131,228
|
| Interest bearing |
356,648
|
311,980
|
| Total deposits |
573,852
|
443,208
|
| Federal Home Loan Bank advances |
39,000
|
29,000
|
| Long-term debt - trust preferred securities |
8,764
|
8,764
|
| Subordinated debt, net |
5,620
|
5,595
|
| Other borrowings |
45,120
|
5,317
|
| Accrued interest payable |
231
|
221
|
| Other liabilities |
5,902
|
5,294
|
| Total liabilities |
678,489
|
497,399
|
| Shareholders' equity |
|
|
| Common stock, $4 par value, 10,000,000 shares authorized; 1,466,240 shares issued and outstanding at September 30, 2020 and 1,453,009 shares issued and outstanding at December 31, 2019 |
5,790
|
5,779
|
| Additional paid-in capital |
54,431
|
54,285
|
| Accumulated deficit |
(11,790)
|
(17,292)
|
| Stock in directors rabbi trust |
(771)
|
(856)
|
| Directors deferred fees obligation |
771
|
856
|
| Accumulated other comprehensive income |
444
|
142
|
| Total shareholders' equity |
48,875
|
42,914
|
| Total liabilities and shareholders' equity |
$ 727,364
|
$ 540,313
|