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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Eagle Financial Bancorp Inc | NASDAQ:EFBI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 16.66 | 0.0001 | 199,999.99 | 0 | 01:00:00 |
|
Maryland
|
| |
82-1340349
|
|
|
(State or other jurisdiction of
incorporation or organization) |
| |
(I.R.S. Employer
Identification Number) |
|
|
6415 Bridgetown Road, Cincinnati, Ohio
|
| |
45248
|
|
|
(Address of principal executive offices)
|
| |
(Zip Code)
|
|
|
Title of each class
|
| |
Name of each exchange on which registered
|
|
|
Common Stock, $0.01 par value
|
| |
The NASDAQ Stock Market, LLC
|
|
| Large accelerated filer | | | ☐ | | | Accelerated filer | | | ☐ | |
| Non-accelerated filer | | | ☒ | | | Smaller reporting company | | | ☒ | |
| Emerging growth company | | | ☒ | | | | | | | |
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| | | | | 59 | | |
| | |
At December 31,
|
| |||||||||||||||||||||
| | |
2018
|
| |
2017
|
| ||||||||||||||||||
| | |
Amount
|
| |
Percent
|
| |
Amount
|
| |
Percent
|
| ||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||
One- to four-family residential: | | | | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied
|
| | | $ | 67,169 | | | | | | 54.18 % | | | | | $ | 53,682 | | | | | | 51.10 % | | |
Non-owner occupied
|
| | | | 6,464 | | | | | | 5.21 | | | | | | 7,082 | | | | | | 6.74 | | |
Commercial real estate and land
|
| | | | 17,587 | | | | | | 14.19 | | | | | | 13,739 | | | | | | 13.08 | | |
Home equity and other consumer
(1)
|
| | | | 13,773 | | | | | | 11.11 | | | | | | 12,570 | | | | | | 11.97 | | |
Residential construction
|
| | | | 11,756 | | | | | | 9.48 | | | | | | 10,362 | | | | | | 9.86 | | |
Multi-family real estate
|
| | | | 1,185 | | | | | | 0.96 | | | | | | 2,084 | | | | | | 1.98 | | |
Commercial
|
| | | | 6,041 | | | | | | 4.87 | | | | | | 5,536 | | | | | | 5.27 | | |
Total gross loans receivable
|
| | | | 123,975 | | | | | | 100.00 % | | | | | | 105,055 | | | | | | 100.00 % | | |
Deferred loan costs
|
| | | | 14 | | | | | | | | | | | | 66 | | | | | | | | |
Loans in process
|
| | | | (9,485 ) | | | | | | | | | | | | (7,411 ) | | | | | | | | |
Allowance for loan losses
|
| | | | (1,187 ) | | | | | | | | | | | | (1,181 ) | | | | | | | | |
Total loans receivable, net
|
| | | $ | 113,317 | | | | | | | | | | | $ | 96,529 | | | | | | | | |
|
| | |
One- to
four-family residential, owner occupied |
| |
One- to
four family residential, non-owner occupied |
| |
Commercial
real estate and land |
| |
Home
equity and other consumer |
| |
Residential
construction |
| |
Multi-family
real estate |
| |
Commercial
|
| |
Total
|
| ||||||||||||||||||||||||
| | |
(In thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Due During the Years Ending December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2019
|
| | | $ | 1,338 | | | | | $ | 103 | | | | | $ | 1,100 | | | | | $ | 816 | | | | | $ | 11,756 | | | | | $ | 36 | | | | | $ | 1,099 | | | | | $ | 16,248 | | |
2020
|
| | | | 1,391 | | | | | | 109 | | | | | | 1,156 | | | | | | 865 | | | | | | — | | | | | | 38 | | | | | | 1,151 | | | | | | 4,710 | | |
2021
|
| | | | 1,448 | | | | | | 115 | | | | | | 1,215 | | | | | | 917 | | | | | | — | | | | | | 40 | | | | | | 1,206 | | | | | | 4,941 | | |
2022 to 2023
|
| | | | 3,073 | | | | | | 248 | | | | | | 2,617 | | | | | | 2,003 | | | | | | — | | | | | | 85 | | | | | | 2,585 | | | | | | 10,611 | | |
2024 to 2028
|
| | | | 8,834 | | | | | | 749 | | | | | | 7,798 | | | | | | 6,159 | | | | | | — | | | | | | 253 | | | | | | — | | | | | | 23,793 | | |
2029 to 2033
|
| | | | 10,764 | | | | | | 977 | | | | | | 3,701 | | | | | | 3,013 | | | | | | — | | | | | | 322 | | | | | | — | | | | | | 18,777 | | |
2034 and beyond
|
| | | | 40,321 | | | | | | 4,163 | | | | | | — | | | | | | — | | | | | | — | | | | | | 411 | | | | | | — | | | | | | 44,895 | | |
Total
|
| | | $ | 67,169 | | | | | $ | 6,464 | | | | | $ | 17,587 | | | | | $ | 13,773 | | | | | $ | 11,756 | | | | | $ | 1,185 | | | | | $ | 6,041 | | | | | $ | 123,975 | | |
|
| | |
Due After December 31, 2019
|
| |||||||||||||||
| | |
Fixed
|
| |
Adjustable
|
| |
Total
|
| |||||||||
| | |
(In thousands)
|
| |||||||||||||||
One- to four-family residential: | | | | | | | | | | | | | | | | | | | |
Owner occupied
|
| | | $ | 39,564 | | | | | $ | 26,267 | | | | | $ | 65,831 | | |
Non-owner occupied
|
| | | | 3,514 | | | | | | 2,847 | | | | | | 6,361 | | |
Commercial real estate and land
|
| | | | 8,881 | | | | | | 7,606 | | | | | | 16,487 | | |
Home equity and other consumer
|
| | | | 873 | | | | | | 12,084 | | | | | | 12,957 | | |
Residential construction
|
| | | | — | | | | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | 118 | | | | | | 1,031 | | | | | | 1,149 | | |
Commercial
|
| | | | 3,313 | | | | | | 1,629 | | | | | | 4,942 | | |
Total
|
| | | $ | 56,263 | | | | | $ | 51,464 | | | | | $ | 107,727 | | |
|
Type of Loan
|
| |
Number of Loans
|
| |
Total Loan Balances
|
| ||||||
| | | | | | | | |
(Dollars in thousands)
|
| |||
Apartment Buildings
|
| | | | 3 | | | | | $ | 345 | | |
Land
|
| | | | 13 | | | | | | 2,910 | | |
Storage
|
| | | | 2 | | | | | | 1,068 | | |
Office
|
| | | | 10 | | | | | | 2,596 | | |
Owner occupied commercial real estate
|
| | | | 26 | | | | | | 8,802 | | |
Restaurant
|
| | | | 1 | | | | | | 612 | | |
Retail
|
| | | | 8 | | | | | | 1,254 | | |
Total
|
| | | | 63 | | | | | $ | 17,587 | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Total gross loans, including loans held for sale, at beginning of year
|
| | | $ | 108,391 | | | | | $ | 92,373 | | |
Loans originated: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | | 69,306 | | | | | | 82,773 | | |
Non-owner occupied
|
| | | | — | | | | | | — | | |
Multifamily real estate
|
| | | | 241 | | | | | | 460 | | |
Residential construction
|
| | | | 14,838 | | | | | | 16,502 | | |
Commercial real estate and land
|
| | | | 3,339 | | | | | | 2,660 | | |
Commercial
|
| | | | 11,041 | | | | | | 7,818 | | |
Home equity and other consumer
|
| | | | 9,308 | | | | | | 7,291 | | |
Total loans originated
|
| | | | 108,073 | | | | | | 117,504 | | |
Loans purchased: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | | — | | | | | | — | | |
Non-owner occupied
|
| | | | — | | | | | | — | | |
Multifamily real estate
|
| | | | — | | | | | | — | | |
Residential construction
|
| | | | — | | | | | | — | | |
Commercial real estate and land
|
| | | | — | | | | | | — | | |
Commercial
|
| | | | 67 | | | | | | 47 | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | |
Total loans purchased
|
| | | | 67 | | | | | | 47 | | |
Loans sold: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | | (52,126 ) | | | | | | (66,773 ) | | |
Non-owner occupied
|
| | | | — | | | | | | — | | |
Multifamily real estate
|
| | | | — | | | | | | — | | |
Residential construction
|
| | | | — | | | | | | — | | |
Commercial real estate and land
|
| | | | — | | | | | | — | | |
Commercial
|
| | | | — | | | | | | (605 ) | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | |
Total loans sold
|
| | | | (52,126 ) | | | | | | (67,378 ) | | |
Other: | | | | | | | | | | | | | |
Principal repayments
|
| | | | (38,603 ) | | | | | | (34,155 ) | | |
Net loan activity
|
| | | | 17,411 | | | | | | 16,018 | | |
Total gross loans, including loans held for sale, at end of year
|
| | | $ | 125,802 | | | | | $ | 108,391 | | |
|
| | |
Loans Delinquent For
|
| |
Total
|
| ||||||||||||||||||||||||||||||
| | |
30 – 89 Days
|
| |
90 Days and Over
|
| ||||||||||||||||||||||||||||||
| | |
Number
|
| |
Amount
|
| |
Number
|
| |
Amount
|
| |
Number
|
| |
Amount
|
| ||||||||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||||||||||||||
At December 31, 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied
|
| | | | 2 | | | | | $ | 86 | | | | | | 5 | | | | | $ | 362 | | | | | | 7 | | | | | $ | 448 | | |
Non-owner occupied
|
| | | | 1 | | | | | | 493 | | | | | | — | | | | | | — | | | | | | 1 | | | | | | 493 | | |
Commercial real estate and land
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | 4 | | | | | | 55 | | | | | | 2 | | | | | | 71 | | | | | | 6 | | | | | | 126 | | |
Residential construction
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Commercial
|
| | | | 1 | | | | | | 125 | | | | | | — | | | | | | — | | | | | | 1 | | | | | | 125 | | |
Total
|
| | | | 8 | | | | | $ | 759 | | | | | | 7 | | | | | $ | 433 | | | | | | 15 | | | | | $ | 1,192 | | |
|
| | |
Loans Delinquent For
|
| |
Total
|
| ||||||||||||||||||||||||||||||
| | |
30 – 89 Days
|
| |
90 Days and Over
|
| ||||||||||||||||||||||||||||||
| | |
Number
|
| |
Amount
|
| |
Number
|
| |
Amount
|
| |
Number
|
| |
Amount
|
| ||||||||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||||||||||||||
At December 31, 2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied
|
| | | | 2 | | | | | $ | 173 | | | | | | 8 | | | | | $ | 634 | | | | | | 10 | | | | | $ | 807 | | |
Non-owner occupied
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Commercial real estate and land
|
| | | | — | | | | | | — | | | | | | 1 | | | | | | 157 | | | | | | 1 | | | | | | 157 | | |
Home equity and other consumer
|
| | | | 3 | | | | | | 39 | | | | | | — | | | | | | — | | | | | | 3 | | | | | | 39 | | |
Residential construction
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Commercial
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | 5 | | | | | $ | 212 | | | | | | 9 | | | | | $ | 791 | | | | | | 14 | | | | | $ | 1,003 | | |
|
| | |
At December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Classified loans: | | | | | | | | | | | | | |
Substandard
|
| | | $ | 1,708 | | | | | $ | 2,491 | | |
Doubtful assets
|
| | | | — | | | | | | — | | |
Loss assets
|
| | | | — | | | | | | — | | |
Total classified assets
|
| | | $ | 1,708 | | | | | $ | 2,491 | | |
Special mention loans
|
| | | $ | — | | | | | $ | — | | |
Foreclosed real estate held for sale
|
| | | $ | 217 | | | | | $ | — | | |
|
| | |
At December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(Dollars in thousands)
|
| |||||||||
Non-accrual loans: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | $ | 362 | | | | | $ | 634 | | |
Non-owner occupied
|
| | | | — | | | | | | — | | |
Commercial real estate and land
|
| | | | — | | | | | | 157 | | |
Home equity and other consumer
|
| | | | 71 | | | | | | — | | |
Residential construction
|
| | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | — | | | | | | — | | |
Commercial
|
| | | | — | | | | | | — | | |
Total
|
| | | | 433 | | | | | | 791 | | |
Accruing loans 90 days or more past due: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | $ | — | | | | | $ | — | | |
Non-owner occupied
|
| | | | — | | | | | | — | | |
Commercial real estate and land
|
| | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | |
Residential construction
|
| | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | — | | | | | | — | | |
Commercial
|
| | | | — | | | | | | — | | |
Total loans 90 days or more past due
|
| | | | — | | | | | | — | | |
Accruing troubled debt restructurings: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | $ | 74 | | | | | $ | 77 | | |
Non-owner occupied
|
| | | | 190 | | | | | | 196 | | |
Commercial real estate and land
|
| | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | 43 | | | | | | — | | |
| | |
At December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(Dollars in thousands)
|
| |||||||||
Residential construction
|
| | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | — | | | | | | — | | |
Commercial
|
| | | | — | | | | | | 300 | | |
Total
|
| | | $ | 307 | | | | | $ | 573 | | |
Total non-performing loans
|
| | | $ | 740 | | | | | $ | 1,364 | | |
Foreclosed real estate
|
| | | | 217 | | | | | | — | | |
Total non-performing assets
|
| | | $ | 957 | | | | | $ | 1,364 | | |
Ratios: | | | | | | | | | | | | | |
Total non-performing loans to total loans
|
| | | | 0.60 % | | | | | | 1.30 % | | |
Total non-performing assets to total assets
|
| | | | 0.70 % | | | | | | 1.04 % | | |
Non-performing assets excluding accruing troubled debt restructurings
to total assets |
| | | | 0.47 % | | | | | | 0.60 % | | |
Non-performing loans excluding accruing troubled debt restructurings to total loans
|
| | | | 0.35 % | | | | | | 0.75 % | | |
| | |
At or For the Years Ended
December 31, |
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(Dollars in thousands)
|
| |||||||||
Balance at beginning of year
|
| | | $ | 1,181 | | | | | $ | 1,137 | | |
Charge-offs: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | | (35 ) | | | | | | — | | |
Non-owner occupied
|
| | | | — | | | | | | (9 ) | | |
Commercial real estate and land
|
| | | | (68 ) | | | | | | (73 ) | | |
Home equity and other consumer
|
| | | | (7 ) | | | | | | — | | |
Residential construction
|
| | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | — | | | | | | — | | |
Commercial
|
| | | | — | | | | | | — | | |
Total charge-offs
|
| | | | (110 ) | | | | | | (82 ) | | |
|
| | |
At or For the Years Ended
December 31, |
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(Dollars in thousands)
|
| |||||||||
Recoveries: | | | | | | | | | | | | | |
One- to four-family residential: | | | | | | | | | | | | | |
Owner occupied
|
| | | | 15 | | | | | | 5 | | |
Non-owner occupied
|
| | | | 2 | | | | | | — | | |
Commercial real estate and land
|
| | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | |
Residential construction
|
| | | | — | | | | | | — | | |
Multi-family real estate
|
| | | | — | | | | | | — | | |
Commercial
|
| | | | — | | | | | | 19 | | |
Total recoveries
|
| | | | 17 | | | | | | 24 | | |
Net recoveries (charge-offs)
|
| | | | (93 ) | | | | | | (58 ) | | |
Provision for loan losses
|
| | | | 99 | | | | | | 102 | | |
Balance at end of year
|
| | | $ | 1,187 | | | | | $ | 1,181 | | |
Ratios: | | | | | | | | | | | | | |
Net (charge-offs) recoveries to average loans outstanding
|
| | | | (0.09 )% | | | | | | (0.06 )% | | |
Allowance for loan losses to non-performing loans at end of year
|
| | | | 160.41 % | | | | | | 86.58 % | | |
Allowance for loan losses to total loans at end of year
|
| | | | 0.96 % | | | | | | 1.12 % | | |
| | |
At December 31,
|
| |||||||||||||||||||||||||||||||||
| | |
2018
|
| |
2017
|
| ||||||||||||||||||||||||||||||
| | |
Allowance
for Loan Losses |
| |
Percent of
Allowance to Total Allowance |
| |
Percent of
Loans in Category to Total Loans |
| |
Allowance
for Loan Losses |
| |
Percent of
Allowance to Total Allowance |
| |
Percent of
Loans in Category to Total Loans |
| ||||||||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||||||||||||||
One- to four-family residential: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied
|
| | | $ | 409 | | | | | | 34.46 % | | | | | | 54.18 % | | | | | $ | 283 | | | | | | 23.96 % | | | | | | 51.10 % | | |
Non-owner occupied
|
| | | | 42 | | | | | | 3.54 | | | | | | 5.21 | | | | | | 122 | | | | | | 10.33 | | | | | | 6.74 | | |
Commercial real estate and land
|
| | | | 260 | | | | | | 21.90 | | | | | | 14.19 | | | | | | 199 | | | | | | 16.85 | | | | | | 13.08 | | |
Home equity and other consumer
|
| | | | 313 | | | | | | 26.37 | | | | | | 11.11 | | | | | | 276 | | | | | | 23.37 | | | | | | 11.97 | | |
Residential construction
|
| | | | 128 | | | | | | 10.78 | | | | | | 9.48 | | | | | | 116 | | | | | | 9.82 | | | | | | 9.86 | | |
Multi-family real estate
|
| | | | 14 | | | | | | 1.18 | | | | | | 0.96 | | | | | | 25 | | | | | | 2.12 | | | | | | 1.98 | | |
Commercial
|
| | | | 21 | | | | | | 1.77 | | | | | | 4.87 | | | | | | 160 | | | | | | 13.55 | | | | | | 5.27 | | |
Total allocated allowance
|
| | | | 1,187 | | | | | | 100.00 | | | | | | 100.00 | | | | | | 1,181 | | | | | | 100.00 | | | | | | 100.00 | | |
Unallocated allowance
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total allowance for loan losses
|
| | | $ | 1,187 | | | | | | 100.00 % | | | | | | 100.00 % | | | | | $ | 1,181 | | | | | | 100.00 % | | | | | | 100.00 % | | |
|
| | |
For the Years Ended December 31,
|
| |||||||||||||||||||||||||||||||||
| | |
2018
|
| |
2017
|
| ||||||||||||||||||||||||||||||
| | |
Average
Balance |
| |
Percent
|
| |
Weighted
Average Rate |
| |
Average
Balance |
| |
Percent
|
| |
Weighted
Average Rate |
| ||||||||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||||||||||||||
Non-interest-bearing checking
|
| | | $ | 4,564 | | | | | | 4.42 % | | | | | | — % | | | | | $ | 4,180 | | | | | | 4.08 % | | | | | | — % | | |
Interest-bearing checking
|
| | | | 18,339 | | | | | | 17.75 | | | | | | .15 | | | | | | 18,870 | | | | | | 18.45 | | | | | | 0.13 | | |
Savings
|
| | | | 17,287 | | | | | | 16.73 | | | | | | .14 | | | | | | 16,241 | | | | | | 15.88 | | | | | | 0.15 | | |
Money market demand
|
| | | | 18,825 | | | | | | 18.21 | | | | | | .22 | | | | | | 20,683 | | | | | | 20.22 | | | | | | 0.23 | | |
Certificates of deposit
|
| | | | 44,325 | | | | | | 42.89 | | | | | | 1.52 | | | | | | 42,314 | | | | | | 41.37 | | | | | | 1.34 | | |
Total deposits
|
| | | $ | 103,340 | | | | | | 100.00 % | | | | | | 0.85 % | | | | | $ | 102,288 | | | | | | 100.00 % | | | | | | 0.64 % | | |
|
| | |
At or For the Years Ended
December 31, |
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(In thousands)
|
| |||||||||
Beginning balance
|
| | | $ | 101,118 | | | | | $ | 100,044 | | |
Net deposits before interest expense
|
| | | | 4,481 | | | | | | 412 | | |
Interest expense
|
| | | | 770 | | | | | | 662 | | |
Net increase in deposits
|
| | | | 5,251 | | | | | | 1,074 | | |
Ending balance
|
| | | $ | 106,369 | | | | | $ | 101,118 | | |
|
| | |
At December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(In thousands)
|
| |||||||||
Interest Rate: | | | | | | | | | | | | | |
Less than 1.00%
|
| | | $ | 5,506 | | | | | $ | 11,421 | | |
1.00% – 1.99%
|
| | | | 31,681 | | | | | | 26,895 | | |
2.00 – 2.99%
|
| | | | 9,311 | | | | | | 3,387 | | |
3.00 – 3.99%
|
| | | | — | | | | | | — | | |
Total
|
| | | $ | 46,498 | | | | | $ | 41,703 | | |
|
| | |
At December 31, 2018
|
| |||||||||||||||||||||||||||||||||
| | |
Period to Maturity
|
| |||||||||||||||||||||||||||||||||
| | |
Less Than
or Equal to One Year |
| |
Over One
Year to Two Years |
| |
Over Two
Years to Three Years |
| |
Over
Three Years |
| |
Total
|
| |
Percentage
of Total Certificate Accounts |
| ||||||||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||||||||||||||
Interest Rate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Less than 1.00%
|
| | | $ | 5,006 | | | | | $ | 417 | | | | | $ | 83 | | | | | $ | — | | | | | $ | 5,506 | | | | | | 11.84 % | | |
1.00% – 1.99%
|
| | | | 19,004 | | | | | | 4,977 | | | | | | 4,790 | | | | | | 2,910 | | | | | | 31,681 | | | | | | 68.14 | | |
2.00% – 2.99%
|
| | | | 3,791 | | | | | | 3,610 | | | | | | 1,905 | | | | | | 5 | | | | | | 9,311 | | | | | | 20.02 | | |
Total
|
| | | $ | 27,801 | | | | | $ | 9,004 | | | | | $ | 6,778 | | | | | $ | 2,915 | | | | | $ | 46,498 | | | | | | 100.00 % | | |
|
| | |
At December 31,
2018 |
| |||
| | |
(In thousands)
|
| |||
Three months or less
|
| | | $ | 3,389 | | |
Over three months through six months
|
| | | | 5,795 | | |
Over six months through one year
|
| | | | 4,942 | | |
Over one year to three years
|
| | | | 7,407 | | |
Over three years
|
| | | | 754 | | |
Total
|
| | | $ | 22,287 | | |
|
| | |
At or For the Years Ended
December 31, |
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(Dollars in thousands)
|
| |||||||||
FHLB advances: | | | | | | | | | | | | | |
Balance at end of year
|
| | | $ | — | | | | | $ | 9 | | |
Average balance during year
|
| | | $ | 2 | | | | | $ | 18 | | |
Maximum outstanding at any month end
|
| | | $ | 7 | | | | | $ | 27 | | |
Weighted average interest rate at end of year
|
| | | | 3.33 % | | | | | | 3.33 % | | |
Average interest rate during year
|
| | | | 3.33 % | | | | | | 3.33 % | | |
Location
|
| |
Leased or
Owned |
| |
Year Acquired
or Leased |
| |
Net Book Value
of Real Property |
| |||
| | | | | | | | |
(In thousands)
|
| |||
Main Office: | | | | | | | | | | | | | |
6415 Bridgetown Road
Cincinnati, OH 45248 |
| |
Owned
|
| |
2003
|
| | | $ | 2,469 | | |
Branch Offices: | | | | | | | | | | | | | |
5681 Rapid Run
Rapid Run Plaza (at Neeb Rd.) Cincinnati, OH 45238 |
| |
Leased
|
| |
2009
|
| | | | 26 | | |
3420 Edwards Road
Cincinnati, OH 45208 |
| |
Owned
|
| |
2014
|
| | | | 1,334 | | |
Period
|
| |
Total number of
shares purchased |
| |
Average price
paid per share |
| |
Total number of shares
purchased as part of publicly announced program (1) |
| |
Maximum number of
shares that may yet be purchased under the program (1) |
| ||||||||||||
October 2018
|
| | | | — | | | | | $ | — | | | | | | — | | | | | | — | | |
November 2018
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
December 2018
|
| | | | 5,000 | | | | | | 15.50 | | | | | | 5,000 | | | | | | 76,285 | | |
Total
|
| | | $ | 5,000 | | | | | | 15.50 | | | | | | 5,000 | | | | | | 76,285 | | |
|
| | |
At December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(In thousands)
|
| |||||||||
Selected Financial Condition Data: | | | | | | | | | | | | | |
Total assets
|
| | | $ | 137,085 | | | | | $ | 131,082 | | |
Cash and cash equivalents
|
| | | | 7,434 | | | | | | 15,350 | | |
Interest-bearing time deposits in other banks
|
| | | | 3,486 | | | | | | 5,079 | | |
Loans held for sale
|
| | | | 1,827 | | | | | | 3,336 | | |
Loans, net
|
| | | | 113,317 | | | | | | 96,529 | | |
Premises and equipment at depreciated cost
|
| | | | 4,210 | | | | | | 4,361 | | |
Bank-owned life insurance
|
| | | | 1,958 | | | | | | 1,912 | | |
FHLB lender risk account receivable
|
| | | | 3,377 | | | | | | 3,168 | | |
Deposits
|
| | | | 106,369 | | | | | | 101,118 | | |
FHLB advances
|
| | | | — | | | | | | 9 | | |
Total shareholders’ equity
|
| | | | 27,774 | | | | | | 27,377 | | |
| | |
For the Years Ended
December 31, |
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
| | |
(In thousands)
|
| |||||||||
Selected Operations Data: | | | | | | | | | | | | | |
Interest and dividend income
|
| | | $ | 5,046 | | | | | $ | 4,256 | | |
Interest expense
|
| | | | 770 | | | | | | 663 | | |
Net interest income
|
| | | | 4,276 | | | | | | 3,593 | | |
Provision for loan losses
|
| | | | 99 | | | | | | 102 | | |
Net interest income after provision for loan losses
|
| | | | 4,177 | | | | | | 3,491 | | |
Non-interest income
|
| | | | 1,732 | | | | | | 2,172 | | |
Non-interest expense
|
| | | | 5,471 | | | | | | 5,405 | | |
Income before income taxes
|
| | | | 438 | | | | | | 258 | | |
Income tax (benefit)
|
| | | | 94 | | | | | | (82 ) | | |
Net Income
|
| | | $ | 344 | | | | | $ | 340 | | |
|
| | |
At or For the Years Ended
December 31, |
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Selected Financial Ratios and Other Data: | | | | | | | | | | | | | |
Performance Ratios: | | | | | | | | | | | | | |
Return on average assets
|
| | | | 0.26 % | | | | | | 0.28 % | | |
Return on average equity
|
| | | | 1.25 % | | | | | | 1.82 % | | |
Interest rate spread
(1)
|
| | | | 3.42 % | | | | | | 3.22 % | | |
Net interest margin
(2)
|
| | | | 3.56 % | | | | | | 3.30 % | | |
Efficiency ratio
(3)
|
| | | | 91.06 % | | | | | | 93.76 % | | |
Non-interest expense to average total assets
|
| | | | 4.08 % | | | | | | 4.37 % | | |
Average interest-earning assets to average interest-bearing liabilities
|
| | | | 121.54 % | | | | | | 111.08 % | | |
Average equity to average total assets
|
| | | | 20.61 % | | | | | | 15.10 % | | |
| | |
At or For the Years Ended
December 31, |
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Asset Quality Ratios: | | | | | | | | | | | | | |
Non-performing assets to total assets
|
| | | | 0.70 % | | | | | | 1.04 % | | |
Non-performing loans to total loans
|
| | | | 0.60 % | | | | | | 1.30 % | | |
Non-performing assets excluding accruing troubled debt restructurings
to total assets |
| | | | 0.47 % | | | | | | 0.60 % | | |
Non-performing loans excluding accruing troubled debt restructurings to total loans
|
| | | | 0.35 % | | | | | | 0.75 % | | |
Allowance for loan losses to non-performing loans
|
| | | | 160.41 % | | | | | | 86.58 % | | |
Allowance for loan losses to total loans
|
| | | | 0.96 % | | | | | | 1.12 % | | |
Capital Ratios: | | | | | | | | | | | | | |
Total capital (to risk-weighted assets)
|
| | | | 16.9 % | | | | | | 18.0 % | | |
Common equity Tier 1 capital (to risk-weighted assets)
|
| | | | 15.9 % | | | | | | 17.0 % | | |
Tier 1 capital (to risk-weighted assets)
|
| | | | 15.9 % | | | | | | 17.0 % | | |
Tier 1 capital (to average assets)
|
| | | | 15.2 % | | | | | | 15.6 % | | |
Other Data: | | | | | | | | | | | | | |
Number of full service offices
|
| | | | 3 | | | | | | 3 | | |
| | |
At
December 31, 2018 |
| |
For the Year Ended December 31,
|
| ||||||||||||||||||||||||||||||||||||
| | |
2018
|
| |
2017
|
| ||||||||||||||||||||||||||||||||||||
| | |
Yield/Cost
|
| |
Average
Outstanding Balance |
| |
Interest
|
| |
Yield/Rate
(1)
|
| |
Average
Outstanding Balance |
| |
Interest
|
| |
Yield/Rate
(1)
|
| |||||||||||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||||||||||||||||||||
Interest-earning assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans, net
|
| | | | 4.45 % | | | | | $ | 106,051 | | | | | $ | 4,771 | | | | | | 4.50 % | | | | | $ | 90,308 | | | | | $ | 4,040 | | | | | | 4.47 % | | |
Other interest-earning assets
|
| | | | 2.54 | | | | | | 14,002 | | | | | | 275 | | | | | | 1.96 | | | | | | 18,690 | | | | | | 216 | | | | | | 1.16 | | |
Total interest-earning assets
|
| | | | 4.28 | | | | | | 120,053 | | | | | | 5,046 | | | | | | 4.20 | | | | | | 108,998 | | | | | | 4,256 | | | | | | 3.90 | | |
Non-interest-earning assets
|
| | | | | | | | | | 13,966 | | | | | | | | | | | | | | | | | | 14,559 | | | | | | | | | | | | | | |
Total assets
|
| | | | | | | | | $ | 134,019 | | | | | | | | | | | | | | | | | $ | 123,557 | | | | | | | | | | | | | | |
Interest-bearing liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest-bearing checking
|
| | | | 0.16 % | | | | | $ | 18,339 | | | | | | 28 | | | | | | 0.15 % | | | | | $ | 18,870 | | | | | | 25 | | | | | | 0.13 | | |
Savings
|
| | | | 0.14 | | | | | | 17,287 | | | | | | 25 | | | | | | 0.14 | | | | | | 16,241 | | | | | | 24 | | | | | | 0.15 | | |
Money market demand
|
| | | | 0.22 | | | | | | 18,825 | | | | | | 42 | | | | | | 0.22 | | | | | | 20,683 | | | | | | 47 | | | | | | 0.23 | | |
Certificates of deposit
|
| | | | 1.72 | | | | | | 44,325 | | | | | | 675 | | | | | | 1.52 | | | | | | 42,314 | | | | | | 566 | | | | | | 1.34 | | |
Total interest-bearing deposits
|
| | | | 0.89 | | | | | | 98,776 | | | | | | 770 | | | | | | 0.78 | | | | | | 98,108 | | | | | | 662 | | | | | | 0.67 | | |
FHLB advances
|
| | | | 3.33 | | | | | | 2 | | | | | | — | | | | | | 3.33 | | | | | | 18 | | | | | | 1 | | | | | | 3.33 | | |
Total interest-bearing liabilities
|
| | | | 0.89 | | | | | | 98,778 | | | | | | 770 | | | | | | 0.78 | | | | | | 98,126 | | | | | | 663 | | | | | | 0.68 | | |
Other non-interest-bearing liabilities
|
| | | | | | | | | | 7,616 | | | | | | | | | | | | | | | | | | 6,768 | | | | | | | | | | | | | | |
Total liabilities
|
| | | | | | | | | | 106,394 | | | | | | | | | | | | | | | | | | 104,894 | | | | | | | | | | | | | | |
Shareholders’ Equity
|
| | | | | | | | | | 27,625 | | | | | | | | | | | | | | | | | | 18,663 | | | | | | | | | | | | | | |
Total liabilities and shareholders’
equity |
| | | | | | | | | $ | 134,019 | | | | | | | | | | | | | | | | | $ | 123,557 | | | | | | | | | | | | | | |
Net interest income
|
| | | | | | | | | | | | | | | $ | 4,276 | | | | | | | | | | | | | | | | | $ | 3,593 | | | | | | | | |
Net interest rate spread
(1)
|
| | | | 3.39 | | | | | | | | | | | | | | | | | | 3.42 % | | | | | | | | | | | | | | | | | | 3.22 % | | |
Net interest-earning assets
(2)
|
| | | | | | | | | $ | 21,275 | | | | | | | | | | | | | | | | | $ | 10,872 | | | | | | | | | | | | | | |
Net interest margin
(3)
|
| | | | | | | | | | | | | | | | | | | | | | 3.56 % | | | | | | | | | | | | | | | | | | 3.30 % | | |
Average of interest-earning assets to
interest-bearing liabilities |
| | | | | | | | | | 121.54 % | | | | | | | | | | | | | | | | | | 111.08 % | | | | | | | | | | | | | | |
|
| | |
Years Ended December 31, 2018 vs. 2017
|
| |||||||||||||||
| | |
Increase (Decrease) Due to
|
| |
Total
Increase (Decrease) |
| ||||||||||||
| | |
Volume
|
| |
Rate
|
| ||||||||||||
| | |
(In thousands)
|
| |||||||||||||||
Interest-earning assets: | | | | | | | | | | | | | | | | | | | |
Loans
|
| | | $ | 704 | | | | | $ | 27 | | | | | $ | 731 | | |
Other interest-earning assets
|
| | | | (63 ) | | | | | | 122 | | | | | | 59 | | |
Total interest-earning assets
|
| | | | 641 | | | | | | 149 | | | | | | 790 | | |
Interest-bearing liabilities: | | | | | | | | | | | | | | | | | | | |
Interest-bearing checking
|
| | | | (1 ) | | | | | | 4 | | | | | | 3 | | |
Savings
|
| | | | 3 | | | | | | (2 ) | | | | | | 1 | | |
Money market demand
|
| | | | (3 ) | | | | | | (2 ) | | | | | | (5 ) | | |
Certificates of deposit
|
| | | | 27 | | | | | | 82 | | | | | | 109 | | |
Total deposits
|
| | | | 26 | | | | | | 82 | | | | | | 108 | | |
FHLB advances
|
| | | | (8 ) | | | | | | 7 | | | | | | (1 ) | | |
Total interest-bearing liabilities
|
| | | | 18 | | | | | | 89 | | | | | | 107 | | |
Change in net interest income
|
| | | $ | 623 | | | | | $ | 60 | | | | | $ | 683 | | |
|
| | | | | |
NPV as a Percentage of
Present Value of Assets (3) |
| ||||||||||||||||||||||||
Change in
Interest Rates (basis points) (1) |
| |
Estimated
NPV (2) |
| |
Estimated Increase
(Decrease) in NPV |
| |
NPV
Ratio (4) |
| |
Increase
(Decrease) (basis points) |
| ||||||||||||||||||
|
Amount
|
| |
Percent
|
| ||||||||||||||||||||||||||
| | |
(Dollars in thousands)
|
| |||||||||||||||||||||||||||
+300
|
| | | $ | 31,671 | | | | | $ | (8,559 ) | | | | | | (21.28 )% | | | | | | 24.10 % | | | | | | (497 ) | | |
+200
|
| | | | 34,332 | | | | | | (5,898 ) | | | | | | (14.66 )% | | | | | | 25.68 % | | | | | | (339 ) | | |
+100
|
| | | | 37,156 | | | | | | (3,074 ) | | | | | | (7.64 )% | | | | | | 27.32 % | | | | | | (175 ) | | |
—
|
| | | | 40,230 | | | | | | — | | | | | | — | | | | | | 29.07 % | | | | | | — | | |
-100
|
| | | | 39,161 | | | | | | (1,069 ) | | | | | | (2.66 )% | | | | | | 27.79 % | | | | | | (128 ) | | |
Rate Shift
(1)
|
| |
Net Interest Income
Year 1 Forecast |
| |
Year 1 Change
from Level |
| ||||||
| | |
(Dollars in thousands)
|
| | | | | | | |||
+400
|
| | | $ | 4,084 | | | | | | (20.42 )% | | |
+300
|
| | | | 4,368 | | | | | | (14.89 )% | | |
+200
|
| | | | 4,628 | | | | | | (9.82 )% | | |
+100
|
| | | | 4,885 | | | | | | (4.82 )% | | |
Level
|
| | | | 5,132 | | | | | | — | | |
-100
|
| | | | 4,914 | | | | | | (4.25 )% | | |
| | | | | F-1 | | | |
| | | | | F-2 | | | |
| | | | | F-3 | | | |
| | | | | F-4 | | | |
| | | | | F-5 | | | |
| | | | | F-6 | | |
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Assets | | | | | | | | | | | | | |
Cash and due from banks
|
| | | $ | 471 | | | | | $ | 519 | | |
Federal Reserve Bank and Federal Home Loan Bank (FHLB) demand accounts
|
| | | | 6,963 | | | | | | 14,831 | | |
Cash and cash equivalents
|
| | | | 7,434 | | | | | | 15,350 | | |
Interest-bearing time deposits in other banks
|
| | | | 3,486 | | | | | | 5,079 | | |
Loans held for sale
|
| | | | 1,827 | | | | | | 3,336 | | |
Loans, net of allowance for loan losses of $1,187 and $1,181 for 2018 and 2017, respectively
|
| | | | 113,317 | | | | | | 96,529 | | |
Premises and equipment – at depreciated cost
|
| | | | 4,210 | | | | | | 4,361 | | |
FHLB stock – at cost
|
| | | | 754 | | | | | | 736 | | |
Foreclosed real estate held for sale, net
|
| | | | 217 | | | | | | — | | |
Bank-owned life insurance (BOLI)
|
| | | | 1,958 | | | | | | 1,912 | | |
FHLB lender risk account receivable
|
| | | | 3,377 | | | | | | 3,168 | | |
Accrued interest receivable
|
| | | | 354 | | | | | | 287 | | |
Prepaid federal income taxes
|
| | | | — | | | | | | 37 | | |
Other assets
|
| | | | 151 | | | | | | 287 | | |
Total assets
|
| | | $ | 137,085 | | | | | $ | 131,082 | | |
Liabilities and Shareholders’ Equity | | | | | | | | | | | | | |
Liabilities
|
| | | | | | | | | | | | |
Deposits
|
| | | | | | | | | | | | |
Noninterest-bearing
|
| | | $ | 5,878 | | | | | $ | 4,032 | | |
Interest-bearing
|
| | | | 100,491 | | | | | | 97,086 | | |
Total deposits
|
| | | | 106,369 | | | | | | 101,118 | | |
FHLB advances
|
| | | | — | | | | | | 9 | | |
Advances from borrowers for taxes and insurance
|
| | | | 950 | | | | | | 866 | | |
Accrued interest payable
|
| | | | 1 | | | | | | 1 | | |
Accrued supplemental retirement plans
|
| | | | 1,301 | | | | | | 1,079 | | |
Accrued federal income tax
|
| | | | 182 | | | | | | — | | |
Deferred federal tax liability
|
| | | | 131 | | | | | | 315 | | |
Other liabilities
|
| | | | 377 | | | | | | 357 | | |
Total liabilities
|
| | | | 109,311 | | | | | | 103,745 | | |
Shareholders’ Equity | | | | | | | | | | | | | |
Preferred stock, $0.01 par value, 5,000,000 shares authorized; none issued and outstanding
|
| | | | — | | | | | | — | | |
Common stock, $0.01 par value, 50,000,000 shares authorized at December 31, 2018
and 2017; issued 1,654,758 and 1,612,808 at December 31, 2018 and 2017; outstanding 1,649,758 and 1,612,808 at December 31, 2018 and 2017 |
| | | | 16 | | | | | | 16 | | |
Additional paid-in capital
|
| | | | 14,836 | | | | | | 14,730 | | |
Retained earnings
|
| | | | 14,161 | | | | | | 13,817 | | |
Treasury stock, at cost 5,000 shares and 0 shares at December 31, 2018 and 2017
|
| | | | (78 ) | | | | | | — | | |
Unearned Employee Stock Ownership Plan (“ESOP”) shares
|
| | | | (1,161 ) | | | | | | (1,226 ) | | |
Total shareholders’ equity
|
| | | | 27,774 | | | | | | 27,337 | | |
Total liabilities and shareholders’ equity
|
| | | $ | 137,085 | | | | | $ | 131,082 | | |
|
| | |
2018
|
| |
2017
|
| ||||||
Interest and Dividend Income | | | | | | | | | | | | | |
Interest earned on loans
|
| | | $ | 4,771 | | | | | $ | 4,040 | | |
Dividends on FHLB stock
|
| | | | 45 | | | | | | 40 | | |
Other interest-earning deposits
|
| | | | 230 | | | | | | 176 | | |
Total interest and dividend income
|
| | | | 5,046 | | | | | | 4,256 | | |
Interest Expense | | | | | | | | | | | | | |
Interest on deposits
|
| | | | 770 | | | | | | 662 | | |
FHLB advances
|
| | | | — | | | | | | 1 | | |
Total interest expense
|
| | | | 770 | | | | | | 663 | | |
Net Interest Income
|
| | | | 4,276 | | | | | | 3,593 | | |
Provision for Loan Losses
|
| | | | 99 | | | | | | 102 | | |
Net Interest Income After Provision for Loan Losses
|
| | | | 4,177 | | | | | | 3,491 | | |
Noninterest Income | | | | | | | | | | | | | |
Net gains on loan sales
|
| | | | 1,496 | | | | | | 1,930 | | |
Other service charges and fees
|
| | | | 186 | | | | | | 195 | | |
Income from BOLI
|
| | | | 46 | | | | | | 47 | | |
Other Income
|
| | | | 4 | | | | | | — | | |
Total noninterest income
|
| | | | 1,732 | | | | | | 2,172 | | |
Noninterest Expense | | | | | | | | | | | | | |
Compensation and benefits
|
| | | | 3,433 | | | | | | 3,295 | | |
Occupancy and equipment, net
|
| | | | 253 | | | | | | 242 | | |
Data processing
|
| | | | 304 | | | | | | 370 | | |
Legal and professional services
|
| | | | 388 | | | | | | 218 | | |
FDIC premium expense
|
| | | | 37 | | | | | | 27 | | |
Foreclosed real estate impairments and expenses, net
|
| | | | 14 | | | | | | 9 | | |
Franchise and other taxes
|
| | | | 219 | | | | | | 108 | | |
Advertising
|
| | | | 104 | | | | | | 121 | | |
ATM processing expense
|
| | | | 83 | | | | | | 85 | | |
Charitable contribution expense
|
| | | | 9 | | | | | | 511 | | |
Other expenses
|
| | | | 627 | | | | | | 419 | | |
Total noninterest expense
|
| | | | 5,471 | | | | | | 5,405 | | |
Income Before Income Taxes
|
| | | | 438 | | | | | | 258 | | |
Income Taxes | | | | | | | | | | | | | |
Current
|
| | | | 278 | | | | | | 157 | | |
Deferred
|
| | | | (184 ) | | | | | | (239 ) | | |
Total income taxes (benefits)
|
| | | | 94 | | | | | | (82 ) | | |
Net Income and Comprehensive Income
|
| | | $ | 344 | | | | | $ | 340 | | |
Earnings per share – basic
|
| | | $ | 0.23 | | | | | $ | 0.51 | | |
Earnings per share – diluted
|
| | | $ | 0.23 | | | | | $ | 0.51 | | |
Weighted-average shares outstanding – basic
|
| | |
|
1,493,608
|
| | | |
|
666,710
|
| |
Weighted-average shares outstanding – diluted
|
| | |
|
1,493,608
|
| | | |
|
666,710
|
| |
|
| | |
Common
Stock |
| |
Additional
Paid-In Capital |
| |
Retained
Earnings |
| |
Treasury
Stock |
| |
Unearned
ESOP Shares |
| |
Total
|
| ||||||||||||||||||
Balance at January 1, 2017
|
| | | $ | — | | | | | $ | — | | | | | $ | 13,477 | | | | | $ | — | | | | | $ | — | | | | | $ | 13,477 | | |
Net income
|
| | | | — | | | | | | — | | | | | | 340 | | | | | | — | | | | | | — | | | | | | 340 | | |
Proceeds from issuance of 1,612,808 shares of common stock
|
| | | | 16 | | | | | | 14,689 | | | | | | — | | | | | | — | | | | | | (1,290 ) | | | | | | 13,415 | | |
ESOP shares earned
|
| | | | — | | | | | | 41 | | | | | | — | | | | | | — | | | | | | 64 | | | | | | 105 | | |
Balance at December 31, 2017
|
| | | $ | 16 | | | | | $ | 14,730 | | | | | $ | 13,817 | | | | | $ | — | | | | | $ | (1,226 ) | | | | | $ | 27,337 | | |
Net income
|
| | | | — | | | | | | — | | | | | | 344 | | | | | | — | | | | | | — | | | | | | 344 | | |
ESOP shares earned
|
| | | | — | | | | | | 38 | | | | | | — | | | | | | — | | | | | | 65 | | | | | | 103 | | |
Stock based compensation expense
|
| | | | — | | | | | | 68 | | | | | | — | | | | | | — | | | | | | — | | | | | | 68 | | |
Repurchase of common stock
|
| | | | — | | | | | | — | | | | | | — | | | | | | (78 ) | | | | | | — | | | | | | (78 ) | | |
Balance at December 31, 2018
|
| | | $ | 16 | | | | | $ | 14,836 | | | | | $ | 14,161 | | | | | $ | (78 ) | | | | | $ | (1,161 ) | | | | | $ | 27,774 | | |
|
| | |
2018
|
| |
2017
|
| ||||||
Operating Activities | | | | | | | | | | | | | |
Net income
|
| | | $ | 344 | | | | | $ | 340 | | |
Items not requiring (providing) cash:
|
| | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 248 | | | | | | 167 | | |
Proceeds on sale of loans in the secondary market
|
| | | | 54,036 | | | | | | 68,006 | | |
Loans originated for sale in the secondary market
|
| | | | (51,031 ) | | | | | | (66,680 ) | | |
Gain on sale of loans
|
| | | | (1,496 ) | | | | | | (1,930 ) | | |
Provision for loan losses
|
| | | | 99 | | | | | | 102 | | |
Loss on sale of foreclosed real estate
|
| | | | 1 | | | | | | 3 | | |
Deferred federal tax liability
|
| | | | (184 ) | | | | | | (239 ) | | |
Increase in cash surrender value of BOLI
|
| | | | (46 ) | | | | | | (47 ) | | |
Impairment on foreclosed real estate
|
| | | | — | | | | | | 3 | | |
Stock based compensation expense
|
| | | | 68 | | | | | | — | | |
ESOP compensation expense
|
| | | | 103 | | | | | | 105 | | |
Changes in:
|
| | | | | | | | | | | | |
FHLB lender risk account receivable
|
| | | | (209 ) | | | | | | (470 ) | | |
Accrued interest receivable
|
| | | | (67 ) | | | | | | (17 ) | | |
Other assets and prepaid federal income taxes
|
| | | | 173 | | | | | | (22 ) | | |
Accrued federal income taxes
|
| | | | 182 | | | | | | — | | |
Accrued supplemental retirement plans
|
| | | | 222 | | | | | | 211 | | |
Accrued expenses and other liabilities
|
| | | | 20 | | | | | | 72 | | |
Net cash flows provided by (used in) operating activities
|
| | | | 2,463 | | | | | | (396 ) | | |
Investing Activities | | | | | | | | | | | | | |
Net (increase) decrease in interest-bearing time deposits in other banks
|
| | | | 1,593 | | | | | | (4,733 ) | | |
Net increase in loans
|
| | | | (17,189 ) | | | | | | (13,557 ) | | |
Purchase of FHLB stock
|
| | | | (18 ) | | | | | | (8 ) | | |
Purchase of premises and equipment
|
| | | | (58 ) | | | | | | (214 ) | | |
Proceeds from sale of foreclosed real estate
|
| | | | 45 | | | | | | 49 | | |
Net cash used in investing activities
|
| | | | (15,627 ) | | | | | | (18,463 ) | | |
Financing Activities | | | | | | | | | | | | | |
Net increase in deposits
|
| | | | 5,251 | | | | | | 1,074 | | |
Repayment of FHLB advances
|
| | | | (9 ) | | | | | | (19 ) | | |
Proceeds from issuance of common stock, net of offering costs
|
| | | | — | | | | | | 13,415 | | |
Repurchase of common stock
|
| | | | (78 ) | | | | | | — | | |
Net increase in advances from borrowers for taxes and insurance
|
| | | | 84 | | | | | | 150 | | |
Net cash provided by financing activities
|
| | | | 5,248 | | | | | | 14,620 | | |
Decrease in Cash and Cash Equivalents
|
| | | | (7,916 ) | | | | | | (4,239 ) | | |
Cash and Cash Equivalents, Beginning of Year
|
| | | | 15,350 | | | | | | 19,589 | | |
Cash and Cash Equivalents, End of Year
|
| | | $ | 7,434 | | | | | $ | 15,350 | | |
Supplemental Cash Flows Information: | | | | | | | | | | | | | |
Interest paid
|
| | | $ | 770 | | | | | $ | 663 | | |
Income taxes paid
|
| | | | 60 | | | | | | 120 | | |
Transfers to foreclosed assets held for sale
|
| | | | 263 | | | | | | — | | |
| Buildings and improvements | | |
35 – 40 years
|
|
| Furniture, fixtures and equipment | | |
3 – 5 years
|
|
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Loans
|
| | | $ | 338 | | | | | $ | 272 | | |
FHLB stock and other
|
| | | | 16 | | | | | | 15 | | |
| | | | $ | 354 | | | | | $ | 287 | | |
|
| | |
Year Ended
December 31, 2018 |
| |
Year Ended
December 31, 2017 |
| ||||||
Net Income
|
| | | $ | 344 | | | | | $ | 340 | | |
Less allocation of earnings to participating securities
|
| | | | 2 | | | | | | — | | |
Net income allocated to common shareholders
|
| | | $ | 342 | | | | | $ | 340 | | |
Shares Outstanding for basic earnings per common share: | | | | | | | | | | | | | |
Weighted Average shares outstanding:
|
| | | | 1,612,714 | | | | | | 724,659 | | |
Less: Average Unearned ESOP shares:
|
| | | | 119,106 | | | | | | 57,949 | | |
Weighted average number of shares outstanding used in the calculation
of basic earnings per common share |
| | | | 1,493,608 | | | | | | 666,710 | | |
Basic earnings per common share:
|
| | | $ | 0.23 | | | | | $ | 0.51 | | |
Effect of dilutive securities: | | | | | | | | | | | | | |
Stock Options
|
| | | | — | | | | | | — | | |
Weighted average number of shares outstanding used in the calculation
of dilutive earnings per common share |
| | | | 1,493,608 | | | | | | 666,710 | | |
Diluted earnings per common share:
|
| | | $ | 0.23 | | | | | $ | 0.51 | | |
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Residential mortgage loans
|
| | | $ | 67,169 | | | | | $ | 53,682 | | |
Commercial real estate and land loans
|
| | | | 17,587 | | | | | | 13,739 | | |
Home equity and other consumer
|
| | | | 13,773 | | | | | | 12,570 | | |
Residential construction loans
|
| | | | 11,756 | | | | | | 10,362 | | |
Residential mortgage loans, non-owner occupied
|
| | | | 6,464 | | | | | | 7,082 | | |
Multi-family real estate loans
|
| | | | 1,185 | | | | | | 2,084 | | |
Commercial loans
|
| | | | 6,041 | | | | | | 5,536 | | |
| | | | | 123,975 | | | | | | 105,055 | | |
Net deferred loan costs
|
| | | | 14 | | | | | | 66 | | |
Loans in process
|
| | | | (9,485 ) | | | | | | (7,411 ) | | |
Allowance for loan losses
|
| | | | (1,187 ) | | | | | | (1,181 ) | | |
Net loans
|
| | | $ | 113,317 | | | | | $ | 96,529 | | |
|
December 31, 2018
|
| |
Residential
Mortgage Loans |
| |
Commercial
Real Estate and Land Loans |
| |
Home Equity
and Other Consumer |
| |
Residential
Construction Loans |
| |
Residential
Mortgage Loans Non-Owner Occupied |
| |
Multi-Family
Real Estate Loans |
| |
Commercial
Loans |
| |
Total
|
| ||||||||||||||||||||||||
Allowance for loan losses:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Balance, beginning of
year |
| | | $ | 283 | | | | | $ | 199 | | | | | $ | 276 | | | | | $ | 116 | | | | | $ | 122 | | | | | $ | 25 | | | | | $ | 160 | | | | | $ | 1,181 | | |
Provision charged to expense
|
| | | | 146 | | | | | | 129 | | | | | | 44 | | | | | | 12 | | | | | | (82 ) | | | | | | (11 ) | | | | | | (139 ) | | | | | | 99 | | |
Losses charged off
|
| | | | (35 ) | | | | | | (68 ) | | | | | | (7 ) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (110 ) | | |
Recoveries
|
| | | | 15 | | | | | | — | | | | | | — | | | | | | — | | | | | | 2 | | | | | | — | | | | | | — | | | | | | 17 | | |
Balance, end of year
|
| | | $ | 409 | | | | | $ | 260 | | | | | $ | 313 | | | | | $ | 128 | | | | | $ | 42 | | | | | $ | 14 | | | | | $ | 21 | | | | | $ | 1,187 | | |
Ending balance: individually evaluated for impairment
|
| | | $ | 3 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 3 | | |
Ending balance: collectively evaluated for impairment
|
| | | $ | 406 | | | | | $ | 260 | | | | | $ | 313 | | | | | $ | 128 | | | | | $ | 42 | | | | | $ | 14 | | | | | $ | 21 | | | | | $ | 1,184 | | |
Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ending balance
|
| | | $ | 67,169 | | | | | $ | 17,587 | | | | | $ | 13,773 | | | | | $ | 11,756 | | | | | $ | 6,464 | | | | | $ | 1,185 | | | | | $ | 6,041 | | | | | $ | 123,975 | | |
Ending balance: individually evaluated for impairment
|
| | | $ | 74 | | | | | $ | — | | | | | $ | 43 | | | | | $ | — | | | | | $ | 190 | | | | | $ | — | | | | | $ | — | | | | | $ | 307 | | |
Ending balance: collectively evaluated for impairment
|
| | | $ | 67,095 | | | | | $ | 17,587 | | | | | $ | 13,730 | | | | | $ | 11,756 | | | | | $ | 6,274 | | | | | $ | 1,185 | | | | | $ | 6,041 | | | | | $ | 123,668 | | |
|
December 31, 2017
|
| |
Residential
Mortgage Loans |
| |
Commercial
Real Estate and Land Loans |
| |
Home Equity
and Other Consumer |
| |
Residential
Construction Loans |
| |
Residential
Mortgage Loans Non-Owner Occupied |
| |
Multi-Family
Real Estate Loans |
| |
Commercial
Loans |
| |
Total
|
| ||||||||||||||||||||||||
Allowance for loan losses:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Balance, beginning of
year |
| | | $ | 166 | | | | | $ | 164 | | | | | $ | 341 | | | | | $ | 88 | | | | | $ | 175 | | | | | $ | 30 | | | | | $ | 173 | | | | | $ | 1,137 | | |
Provision charged to expense
|
| | | | 112 | | | | | | 108 | | | | | | (65 ) | | | | | | 28 | | | | | | (44 ) | | | | | | (5 ) | | | | | | (32 ) | | | | | | 102 | | |
Losses charged
off |
| | | | — | | | | | | (73 ) | | | | | | — | | | | | | — | | | | | | (9 ) | | | | | | — | | | | | | — | | | | | | (82 ) | | |
Recoveries
|
| | | | 5 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 19 | | | | | | 24 | | |
Balance, end of year
|
| | | $ | 283 | | | | | $ | 199 | | | | | $ | 276 | | | | | $ | 116 | | | | | $ | 122 | | | | | $ | 25 | | | | | $ | 160 | | | | | $ | 1,181 | | |
Ending balance: individually evaluated for impairment
|
| | | $ | 22 | | | | | $ | 10 | | | | | $ | — | | | | | $ | — | | | | | $ | 32 | | | | | $ | — | | | | | $ | 138 | | | | | $ | 202 | | |
Ending balance: collectively evaluated for impairment
|
| | | $ | 261 | | | | | $ | 189 | | | | | $ | 276 | | | | | $ | 116 | | | | | $ | 90 | | | | | $ | 25 | | | | | $ | 22 | | | | | $ | 979 | | |
Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ending balance
|
| | | $ | 53,682 | | | | | $ | 13,739 | | | | | $ | 12,570 | | | | | $ | 10,362 | | | | | $ | 7,082 | | | | | $ | 2,084 | | | | | $ | 5,536 | | | | | $ | 105,055 | | |
Ending balance: individually evaluated for impairment
|
| | | $ | 142 | | | | | $ | 157 | | | | | $ | — | | | | | $ | — | | | | | $ | 196 | | | | | $ | — | | | | | $ | 300 | | | | | $ | 795 | | |
Ending balance: collectively evaluated for impairment
|
| | | $ | 53,540 | | | | | $ | 13,582 | | | | | $ | 12,570 | | | | | $ | 10,362 | | | | | $ | 6,886 | | | | | $ | 2,084 | | | | | $ | 5,236 | | | | | $ | 104,260 | | |
|
December 31, 2018
|
| |
Residential
Mortgage Loans |
| |
Commercial
Real Estate and Land Loans |
| |
Home Equity
and Other Consumer |
| |
Residential
Construction Loans |
| |
Residential
Mortgage Loans Non-Owner Occupied |
| |
Multi-Family
Real Estate Loans |
| |
Commercial
Loans |
| |
Total
|
| ||||||||||||||||||||||||
Rating | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Satisfactory (5 – 8)
|
| | | $ | 66,074 | | | | | $ | 17,390 | | | | | $ | 13,552 | | | | | $ | 11,756 | | | | | $ | 6,442 | | | | | $ | 1,185 | | | | | $ | 5,868 | | | | | $ | 122,267 | | |
Special mention
(1)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Substandard
(2)
|
| | | | 1,095 | | | | | | 197 | | | | | | 221 | | | | | | — | | | | | | 22 | | | | | | — | | | | | | 173 | | | | | | 1,708 | | |
Doubtful
(3)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Loss
(4)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 67,169 | | | | | $ | 17,587 | | | | | $ | 13,773 | | | | | $ | 11,756 | | | | | $ | 6,464 | | | | | $ | 1,185 | | | | | $ | 6,041 | | | | | $ | 123,975 | | |
|
December 31, 2017
|
| |
Residential
Mortgage Loans |
| |
Commercial
Real Estate and Land Loans |
| |
Home Equity
and Other Consumer |
| |
Residential
Construction Loans |
| |
Residential
Mortgage Loans Non-Owner Occupied |
| |
Multi-Family
Real Estate Loans |
| |
Commercial
Loans |
| |
Total
|
| ||||||||||||||||||||||||
Rating | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Satisfactory (5 – 8)
|
| | | $ | 52,948 | | | | | $ | 13,212 | | | | | $ | 12,411 | | | | | $ | 10,362 | | | | | $ | 6,508 | | | | | $ | 2,084 | | | | | $ | 5,039 | | | | | $ | 102,564 | | |
Special mention
(1)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Substandard
(2)
|
| | | | 734 | | | | | | 527 | | | | | | 159 | | | | | | — | | | | | | 574 | | | | | | — | | | | | | 497 | | | | | | 2,491 | | |
Doubtful
(3)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Loss
(4)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 53,682 | | | | | $ | 13,739 | | | | | $ | 12,570 | | | | | $ | 10,362 | | | | | $ | 7,082 | | | | | $ | 2,084 | | | | | $ | 5,536 | | | | | $ | 105,055 | | |
|
December 31, 2018
|
| |
30 – 59 Days
Past Due |
| |
60 – 89 Days
Past Due |
| |
90 Days
Past Due or More |
| |
Total
Past Due |
| |
Current
|
| |
Total Loans
Receivable |
| |
Recorded
Investment 90 Days and Accruing |
| |||||||||||||||||||||
Residential mortgage loans
|
| | | $ | 86 | | | | | $ | — | | | | | $ | 362 | | | | | $ | 448 | | | | | $ | 66,721 | | | | | $ | 67,169 | | | | | $ | — | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 17,587 | | | | | | 17,587 | | | | | | — | | |
Home equity and other consumer
|
| | | | 37 | | | | | | 18 | | | | | | 71 | | | | | | 126 | | | | | | 13,647 | | | | | | 13,773 | | | | | | — | | |
Residential construction loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,756 | | | | | | 11,756 | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | 493 | | | | | | — | | | | | | — | | | | | | 493 | | | | | | 5,971 | | | | | | 6,464 | | | | | | — | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,185 | | | | | | 1,185 | | | | | | — | | |
Commercial loans
|
| | | | 125 | | | | | | — | | | | | | — | | | | | | 125 | | | | | | 5,916 | | | | | | 6,041 | | | | | | — | | |
Total
|
| | | $ | 741 | | | | | $ | 18 | | | | | $ | 433 | | | | | $ | 1,192 | | | | | $ | 122,783 | | | | | $ | 123,975 | | | | | $ | — | | |
|
December 31, 2017
|
| |
30 – 59 Days
Past Due |
| |
60 – 89 Days
Past Due |
| |
90 Days
Past Due or More |
| |
Total
Past Due |
| |
Current
|
| |
Total
Loans Receivable |
| |
Recorded
Investment 90 Days and Accruing |
| |||||||||||||||||||||
Residential mortgage loans
|
| | | $ | 173 | | | | | $ | — | | | | | $ | 634 | | | | | $ | 807 | | | | | $ | 52,875 | | | | | $ | 53,682 | | | | | $ | — | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | | | | | 157 | | | | | | 157 | | | | | | 13,582 | | | | | | 13,739 | | | | | | — | | |
Home equity and other consumer
|
| | | | 39 | | | | | | — | | | | | | — | | | | | | 39 | | | | | | 12,531 | | | | | | 12,570 | | | | | | — | | |
Residential construction loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,362 | | | | | | 10,362 | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,082 | | | | | | 7,082 | | | | | | — | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,084 | | | | | | 2,084 | | | | | | — | | |
Commercial loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,536 | | | | | | 5,536 | | | | | | — | | |
Total
|
| | | $ | 212 | | | | | $ | — | | | | | $ | 791 | | | | | $ | 1,003 | | | | | $ | 104,052 | | | | | $ | 105,055 | | | | | $ | — | | |
|
December 31, 2018
|
| |
Recorded
Balance |
| |
Unpaid
Principal Balance |
| |
Allocated
Allowance |
| |
Average
Investment in Impaired Loans |
| |
Interest
Income Recognized |
| |||||||||||||||
Loans without an allocated allowance: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential mortgage loans
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | 108 | | | | | | — | | |
Home equity and other consumer
|
| | | | 43 | | | | | | 43 | | | | | | — | | | | | | 36 | | | | | | 1 | | |
Residential construction loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | 190 | | | | | | 190 | | | | | | — | | | | | | 192 | | | | | | 10 | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Commercial loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | 125 | | | | | | 9 | | |
Loans with an allocated allowance: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential mortgage loans
|
| | | | 74 | | | | | | 74 | | | | | | 3 | | | | | | 103 | | | | | | 4 | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Residential construction loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Commercial loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | $ | 307 | | | | | $ | 307 | | | | | $ | 3 | | | | | $ | 564 | | | | | $ | 24 | | |
|
December 31, 2017
|
| |
Recorded
Balance |
| |
Unpaid
Principal Balance |
| |
Allocated
Allowance |
| |
Average
Investment in Impaired Loans |
| |
Interest
Income Recognized |
| |||||||||||||||
Loans without an allocated allowance: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential mortgage loans
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Residential construction loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Commercial loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Loans with an allocated allowance: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential mortgage loans
|
| | | | 142 | | | | | | 142 | | | | | | 22 | | | | | | 143 | | | | | | 7 | | |
Commercial real estate and land loans
|
| | | | 157 | | | | | | 157 | | | | | | 10 | | | | | | 192 | | | | | | 1 | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Residential construction loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | 196 | | | | | | 196 | | | | | | 32 | | | | | | 199 | | | | | | 13 | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3 | | |
Commercial loans
|
| | | | 300 | | | | | | 300 | | | | | | 138 | | | | | | 313 | | | | | | 17 | | |
Total
|
| | | $ | 795 | | | | | $ | 795 | | | | | $ | 202 | | | | | $ | 847 | | | | | $ | 41 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2017
|
| |
2017
|
| ||||||
Residential mortgage loans
|
| | | $ | 362 | | | | | $ | 634 | | |
Commercial real estate and land loans
|
| | | | — | | | | | | 157 | | |
Home equity and other consumer
|
| | | | 71 | | | | | | — | | |
Residential construction loans
|
| | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | — | | | | | | — | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | |
Commercial loans
|
| | | | — | | | | | | — | | |
Total
|
| | | $ | 433 | | | | | $ | 791 | | |
|
| | |
Number of
Contracts |
| |
Pre-modification
Outstanding Recorded Investment |
| |
Post-modification
Outstanding Recorded Investment |
| |||||||||
During the Year Ended December 31, 2018: | | | | | | | | | | | | | | | | | | | |
Residential mortgage loans
|
| | | | — | | | | | | — | | | | | | — | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | 2 | | | | | | 45 | | | | | | 45 | | |
Residential construction loans
|
| | | | — | | | | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | — | | | | | | — | | | | | | — | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | | | | | — | | |
Commercial loans
|
| | | | — | | | | | | — | | | | | | — | | |
| | |
Number of
Contracts |
| |
Recorded
Investment |
| ||||||
At December 31, 2018: | | | | | | | | | | | | | |
Residential mortgage loans
|
| | | | 1 | | | | | $ | 74 | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | 2 | | | | | | 43 | | |
Residential construction loans
|
| | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | 4 | | | | | | 190 | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | |
Commercial loans
|
| | | | — | | | | | | — | | |
| | | | | 7 | | | | | $ | 307 | | |
|
| | |
Number of
Contracts |
| |
Recorded
Investment |
| ||||||
At December 31, 2017: | | | | | | | | | | | | | |
Residential mortgage loans
|
| | | | 1 | | | | | $ | 77 | | |
Commercial real estate and land loans
|
| | | | — | | | | | | — | | |
Home equity and other consumer
|
| | | | — | | | | | | — | | |
Residential construction loans
|
| | | | — | | | | | | — | | |
Residential mortgage loans, non-owner occupied
|
| | | | 4 | | | | | | 196 | | |
Multi-family real estate loans
|
| | | | — | | | | | | — | | |
Commercial loans
|
| | | | 1 | | | | | | 300 | | |
| | | | | 6 | | | | | $ | 573 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Balance, beginning of year
|
| | | $ | 89 | | | | | $ | 100 | | |
Loan disbursements
|
| | | | — | | | | | | — | | |
Principal repayments
|
| | | | (10 ) | | | | | | (11 ) | | |
Balance, end of year
|
| | | $ | 79 | | | | | $ | 89 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Land
|
| | | $ | 1,169 | | | | | $ | 1,169 | | |
Buildings and improvements
|
| | | | 3,629 | | | | | | 3,627 | | |
Furniture, fixtures and equipment
|
| | | | 1,812 | | | | | | 1,756 | | |
| | | | | 6,610 | | | | | | 6,552 | | |
Less accumulated depreciation
|
| | | | 2,400 | | | | | | 2,191 | | |
Net premises and equipment
|
| | | $ | 4,210 | | | | | $ | 4,361 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Commercial real estate
|
| | | $ | 127 | | | | | $ | — | | |
Owner-occupied residential real estate
|
| | | | 90 | | | | | | — | | |
| | | | $ | 217 | | | | | $ | — | | |
|
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Balance, beginning of year
|
| | | $ | — | | | | | $ | 55 | | |
Foreclosures
|
| | | | 263 | | | | | | — | | |
Proceeds from sale
|
| | | | (45 ) | | | | | | (49 ) | | |
Loans to facilitate sales
|
| | | | — | | | | | | — | | |
Impairment
|
| | | | — | | | | | | (3 ) | | |
Loss on sale
|
| | | | (1 ) | | | | | | (3 ) | | |
Balance, end of year
|
| | | $ | 217 | | | | | $ | — | | |
|
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Non-interest bearing checking accounts | | | | | | | | | | | | | |
2018 – 0.00%
|
| | | $ | 5,878 | | | | | | | | |
2017 – 0.00%
|
| | | | | | | | | $ | 4,032 | | |
Interest bearing checking accounts | | | | | | | | | | | | | |
2018 – 0.16%
|
| | | | 19,909 | | | | | | | | |
2017 – 0.16%
|
| | | | | | | | | | 18,579 | | |
Savings accounts | | | | | | | | | | | | | |
2018 – 0.14%
|
| | | | 17,010 | | | | | | | | |
2017 – 0.15%
|
| | | | | | | | | | 16,848 | | |
Money market demand accounts | | | | | | | | | | | | | |
2018 – 0.22%
|
| | | | 17,074 | | | | | | | | |
2017 – 0.23%
|
| | | | | | | | | | 19,956 | | |
Total checking, savings and money market deposits
|
| | | | 59,871 | | | | | | 59,415 | | |
Certificates of deposits | | | | | | | | | | | | | |
0.00 – 0.99%
|
| | | | 5,506 | | | | | | 11,421 | | |
1.00 – 1.99%
|
| | | | 31,681 | | | | | | 26,895 | | |
2.00 – 2.99%
|
| | | | 9,311 | | | | | | 3,387 | | |
Total certificates – average rate 1.72% and 1.37%
|
| | | | 46,498 | | | | | | 41,703 | | |
Total deposits – average rate 0.85% and 0.64%
|
| | | $ | 106,369 | | | | | $ | 101,118 | | |
|
|
| |
December 31,
2018 |
| |||
2019
|
| | | $ | 27,801 | | |
2020
|
| | | | 9,004 | | |
2021
|
| | | | 6,778 | | |
2022
|
| | | | 1,833 | | |
2023
|
| | | | 1,082 | | |
| | | | $ | 46,498 | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Checking accounts
|
| | | $ | 28 | | | | | $ | 25 | | |
Savings accounts
|
| | | | 25 | | | | | | 24 | | |
Money market demand accounts
|
| | | | 42 | | | | | | 47 | | |
Certificates of deposits
|
| | | | 675 | | | | | | 566 | | |
| | | | $ | 770 | | | | | $ | 662 | | |
|
| | | | | | | | |
December 31,
|
| |||||||||
Maturity Date
|
| |
Interest Rate
|
| |
2018
|
| |
2017
|
| |||||||||
2018
|
| | | | 3.33 % | | | | | $ | — | | | | | $ | 9 | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Federal taxes currently payable
|
| | | $ | 278 | | | | | $ | 157 | | |
Federal deferred income taxes
|
| | | | (184 ) | | | | | | (239 ) | | |
Federal income tax (benefit) expense
|
| | | $ | 94 | | | | | $ | (82 ) | | |
|
| | |
Years Ended December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Computed at the statutory rate of 21% and 34%
|
| | | $ | 92 | | | | | $ | 88 | | |
Increase (decrease) resulting from | | | | | | | | | | | | | |
Tax-exempt BOLI income
|
| | | | (10 ) | | | | | | (16 ) | | |
Incentive Stock Options
|
| | | | 4 | | | | | | — | | |
ESOP
|
| | | | 13 | | | | | | 36 | | |
Other
|
| | | | (5 ) | | | | | | 5 | | |
Tax reform adjustment
|
| | | | — | | | | | | (195 ) | | |
Actual federal income tax (benefit) expense
|
| | | $ | 94 | | | | | $ | (82 ) | | |
|
| | |
December 31,
|
| |||||||||
| | |
2018
|
| |
2017
|
| ||||||
Deferred tax assets | | | | | | | | | | | | | |
Allowance for loan losses
|
| | | $ | 249 | | | | | $ | 248 | | |
Deferred compensation
|
| | | | 237 | | | | | | 190 | | |
Charitable contributions
|
| | | | 66 | | | | | | 96 | | |
Non-Incentive Stock Options
|
| | | | 2 | | | | | | — | | |
Other assets
|
| | | | 6 | | | | | | 16 | | |
| | | | | 560 | | | | | | 550 | | |
Deferred tax liabilities | | | | | | | | | | | | | |
FHLB stock basis difference
|
| | | | (87 ) | | | | | | (87 ) | | |
Depreciation
|
| | | | (103 ) | | | | | | (113 ) | | |
Restricted stock and 83B elections
|
| | | | (2 ) | | | | | | — | | |
FHLB lender risk account receivable
|
| | | | (499 ) | | | | | | (665 ) | | |
| | | | | (691 ) | | | | | | (865 ) | | |
Net deferred federal tax liability
|
| | | $ | (131 ) | | | | | $ | (315 ) | | |
|
| | |
Actual
|
| |
Minimum Capital
Requirement |
| |
Minimum to Be Well
Capitalized Under Prompt Corrective Action Provisions |
| |||||||||||||||||||||||||||
As of December 31, 2018:
|
| |
Amount
|
| |
Ratio
|
| |
Amount
|
| |
Ratio
|
| |
Amount
|
| |
Ratio
|
| ||||||||||||||||||
Equity
|
| | | $ | 20,849 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Allowance for loan losses
|
| | | | 1,187 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total risk-based capital (to risk-weighted assets)
|
| | | $ | 22,036 | | | | | | 16.9 % | | | | | $ | 10,459 | | | | | | 8.0 % | | | | | $ | 13,074 | | | | | | 10.0 % | | |
Tier I capital (to risk-weighted assets)
|
| | | | 20,849 | | | | | | 15.9 % | | | | | | 7,844 | | | | | | 6.0 % | | | | | | 10,459 | | | | | | 8.0 % | | |
Common equity Tier I capital (to risk-weighted assets)
|
| | | | 20,849 | | | | | | 15.9 % | | | | | | 5,883 | | | | | | 4.5 % | | | | | | 8,498 | | | | | | 6.5 % | | |
Tier I capital (to adjusted total assets)
|
| | | | 20,849 | | | | | | 15.2 % | | | | | | 5,495 | | | | | | 4.0 % | | | | | | 6,868 | | | | | | 5.0 % | | |
| | |
Actual
|
| |
Minimum Capital
Requirement |
| |
Minimum to Be Well
Capitalized Under Prompt Corrective Action Provisions |
| |||||||||||||||||||||||||||
As of December 31, 2017:
|
| |
Amount
|
| |
Ratio
|
| |
Amount
|
| |
Ratio
|
| |
Amount
|
| |
Ratio
|
| ||||||||||||||||||
Equity
|
| | | $ | 20,197 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Allowance for loan losses
|
| | | | 1,181 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total risk-based capital (to risk-weighted assets)
|
| | | $ | 21,378 | | | | | | 18.0 % | | | | | $ | 9,498 | | | | | | 8.0 % | | | | | $ | 11,873 | | | | | | 10.0 % | | |
Tier I capital (to risk-weighted assets)
|
| | | | 20,197 | | | | | | 17.0 % | | | | | | 7,124 | | | | | | 6.0 % | | | | | | 9,498 | | | | | | 8.0 % | | |
Common equity Tier I capital (to risk-weighted assets)
|
| | | | 20,197 | | | | | | 17.0 % | | | | | | 5,343 | | | | | | 4.5 % | | | | | | 7,717 | | | | | | 6.5 % | | |
Tier I capital (to adjusted total assets)
|
| | | | 20,197 | | | | | | 15.6 % | | | | | | 5,187 | | | | | | 4.0 % | | | | | | 6,484 | | | | | | 5.0 % | | |
| | |
Year Ended
December 31, 2018 |
| |
Year Ended
December 31, 2017 |
| ||||||
Shares released to participants
|
| | | | 6,451 | | | | | | 0 | | |
Shares allocated to participants
|
| | | | 6,451 | | | | | | 6,451 | | |
Unreleased shares
|
| | | | 116,122 | | | | | | 122,573 | | |
Total
|
| | | | 129,024 | | | | | | 129,024 | | |
Fair Value of unreleased shares
|
| | | $ | 1,761,571 | | | | | $ | 1,982,005 | | |
|
|
2019
|
| | | | 38 | | |
|
2020
|
| | | | 32 | | |
|
Total minimum lease payments
|
| | | $ | 70 | | |
|
|
2019
|
| | | | 153 | | |
|
2020
|
| | | | 114 | | |
|
2021
|
| | | | 63 | | |
|
2022
|
| | | | 30 | | |
|
Total minimum lease receipts
|
| | | $ | 360 | | |
|
| | | | | | | | |
Fair Value Measurements Using
|
| |||||||||||||||
December 31, 2018
|
| |
Fair
Value |
| |
Quoted Prices in
Active Markets for Identical Assets (Level 1) |
| |
Significant
Other Observable Inputs (Level 2) |
| |
Significant
Unobservable Inputs (Level 3) |
| ||||||||||||
Impaired loans (collateral dependent)
|
| | | $ | 71 | | | | | $ | — | | | | | $ | — | | | | | $ | 71 | | |
| | | | | | | | |
Fair Value Measurements Using
|
| |||||||||||||||
December 31, 2017
|
| |
Fair
Value |
| |
Quoted Prices in
Active Markets for Identical Assets (Level 1) |
| |
Significant
Other Observable Inputs (Level 2) |
| |
Significant
Unobservable Inputs (Level 3) |
| ||||||||||||
Impaired loans (collateral dependent)
|
| | | $ | 593 | | | | | $ | — | | | | | $ | — | | | | | $ | 593 | | |
| | |
Fair Value at
12/31/2018 |
| |
Valuation
Technique |
| |
Unobservable Inputs
|
| |
Range
|
| |||
Impaired loans (collateral dependent)
|
| | | $ | 71 | | | |
Market comparable properties
|
| |
Marketability discount
|
| |
10% – 15%
|
|
| | |
Fair Value at
12/31/2017 |
| |
Valuation
Technique |
| |
Unobservable Inputs
|
| |
Range
|
| |||
Impaired loans (collateral dependent)
|
| | | $ | 593 | | | |
Market comparable properties
|
| |
Marketability discount
|
| |
10% – 15%
|
|
December 31, 2018
|
| |
Carrying
Amount |
| |
Fair
Value |
| |
Fair Value Measurements Using
|
| |||||||||||||||||||||
|
(Level 1)
|
| |
(Level 2)
|
| |
(Level 3)
|
| |||||||||||||||||||||||
Financial Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 7,434 | | | | | $ | 7,434 | | | | | $ | 7,434 | | | | | $ | — | | | | | $ | — | | |
Interest-bearing time deposits
|
| | | | 3,486 | | | | | | 3,486 | | | | | | 3,486 | | | | | | — | | | | | | — | | |
Loans held for sale
|
| | | | 1,827 | | | | | | 1,827 | | | | | | — | | | | | | — | | | | | | 1,827 | | |
Loans, net of allowance for losses
|
| | | | 113,317 | | | | | | 114,248 | | | | | | — | | | | | | — | | | | | | 114,248 | | |
FHLB stock
|
| | | | 754 | | | | | | 754 | | | | | | — | | | | | | 754 | | | | | | — | | |
FHLB lender risk account receivable
|
| | | | 3,377 | | | | | | 3,294 | | | | | | — | | | | | | — | | | | | | 3,294 | | |
Interest receivable
|
| | | | 354 | | | | | | 354 | | | | | | — | | | | | | 354 | | | | | | — | | |
Financial Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Deposits
|
| | | | 106,369 | | | | | | 105,829 | | | | | | 59,872 | | | | | | 45,957 | | | | | | — | | |
FHLB advances
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Advances from borrowers for taxes and insurance
|
| | | | 950 | | | | | | 950 | | | | | | — | | | | | | 950 | | | | | | — | | |
Interest payable
|
| | | | 1 | | | | | | 1 | | | | | | — | | | | | | 1 | | | | | | — | | |
December 31, 2017
|
| |
Carrying
Amount |
| |
Fair
Value |
| |
Fair Value Measurements Using
|
| |||||||||||||||||||||
|
(Level 1)
|
| |
(Level 2)
|
| |
(Level 3)
|
| |||||||||||||||||||||||
Financial Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 15,350 | | | | | $ | 15,350 | | | | | $ | 15,350 | | | | | $ | — | | | | | $ | — | | |
Interest-bearing time deposits
|
| | | | 5,079 | | | | | | 5,079 | | | | | | 5,079 | | | | | | — | | | | | | — | | |
Loans held for sale
|
| | | | 3,336 | | | | | | 3,336 | | | | | | — | | | | | | — | | | | | | 3,336 | | |
Loans, net of allowance for losses
|
| | | | 96,529 | | | | | | 98,470 | | | | | | — | | | | | | — | | | | | | 98,470 | | |
FHLB stock
|
| | | | 736 | | | | | | 736 | | | | | | — | | | | | | 736 | | | | | | — | | |
FHLB lender risk account receivable
|
| | | | 3,168 | | | | | | 3,174 | | | | | | — | | | | | | — | | | | | | 3,174 | | |
Interest receivable
|
| | | | 287 | | | | | | 287 | | | | | | — | | | | | | 287 | | | | | | — | | |
Financial Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Deposits
|
| | | | 101,118 | | | | | | 100,728 | | | | | | 59,415 | | | | | | 41,313 | | | | | | — | | |
FHLB advances
|
| | | | 9 | | | | | | 9 | | | | | | — | | | | | | 9 | | | | | | — | | |
Advances from borrowers for taxes and insurance
|
| | | | 866 | | | | | | 866 | | | | | | — | | | | | | 866 | | | | | | — | | |
Interest payable
|
| | | | 1 | | | | | | 1 | | | | | | — | | | | | | 1 | | | | | | — | | |
|
Unused lines of credit
|
| | | $ | 3,905 | | |
|
Standby letters of credit
|
| | | | — | | |
|
Unused home equity lines
|
| | | | 12,145 | | |
|
Total commitments
|
| | | $ | 16,050 | | |
|
| | |
2018
|
| |
2017
|
| ||||||
Assets | | | | | | | | | | | | | |
Cash
|
| | | $ | 5,616 | | | | | $ | 5,785 | | |
Prepaid expenses
|
| | | | — | | | | | | 11 | | |
Loan receivable – ESOP
|
| | | | 1,177 | | | | | | 1,220 | | |
Investment in Eagle Savings Bank
|
| | | | 20,849 | | | | | | 20,197 | | |
Deferred federal income tax
|
| | | | 66 | | | | | | 94 | | |
Prepaid federal income tax
|
| | | | 66 | | | | | | 30 | | |
Total assets
|
| | | $ | 27,774 | | | | | $ | 27,337 | | |
Liabilities and Shareholders’ Equity | | | | | | | | | | | | | |
Liabilities | | | | | | | | | | | | | |
Total liabilities
|
| | | $ | — | | | | | $ | — | | |
Shareholder’ Equity | | | | | | | | | | | | | |
Total shareholders’ equity
|
| | | | 27,774 | | | | | | 27,337 | | |
Total liabilities and shareholders’ equity
|
| | | $ | 27,774 | | | | | $ | 27,337 | | |
|
| | |
2018
|
| |
2017
|
| ||||||
Income | | | | | | | | | | | | | |
Interest Income – ESOP
|
| | | | 52 | | | | | | 25 | | |
Equity in earnings of Eagle Savings Bank
|
| | | | 481 | | | | | | 752 | | |
Total income
|
| | | | 533 | | | | | | 777 | | |
Expense | | | | | | | | | | | | | |
Legal and professional services
|
| | | | 77 | | | | | | 50 | | |
Charitable contribution expense
|
| | | | — | | | | | | 500 | | |
Other expense
|
| | | | 148 | | | | | | 11 | | |
Total expense
|
| | | | 225 | | | | | | 561 | | |
Earnings before federal income tax benefit
|
| | | | 308 | | | | | | 216 | | |
Federal income tax benefit
|
| | | | (36 ) | | | | | | (124 ) | | |
Net Income and Comprehensive Income
|
| | | $ | 344 | | | | | $ | 340 | | |
|
| | |
2018
|
| |
2017
|
| ||||||
Operating Activities | | | | | | | | | | | | | |
Net income
|
| | | $ | 344 | | | | | $ | 340 | | |
Items not requiring (providing) cash:
|
| | | | | | | | | | | | |
Equity in undistributed income of subsidiary
|
| | | | (481 ) | | | | | | (752 ) | | |
Changes in:
|
| | | | | | | | | | | | |
Other assets and prepaid federal income taxes
|
| | | | 3 | | | | | | (135 ) | | |
Net cash flows used in operating activities
|
| | | | (134 ) | | | | | | (547 ) | | |
Investing Activities | | | | | | | | | | | | | |
Payments received on ESOP loan
|
| | | | 43 | | | | | | 70 | | |
Net cash provided by investing activities
|
| | | | 43 | | | | | | 70 | | |
Financing Activities | | | | | | | | | | | | | |
Proceeds from issuance of common stock, net of offering costs
|
| | | | — | | | | | | 13,415 | | |
Proceeds from mutual to stock conversion transferred to bank
|
| | | | — | | | | | | (7,153 ) | | |
Repurchase of common stock
|
| | | | (78 ) | | | | | | — | | |
Net cash provided by financing activities
|
| | | | (78 ) | | | | | | 6,262 | | |
Increase in Cash and Cash Equivalents
|
| | | | (169 ) | | | | | | 5,785 | | |
Cash and Cash Equivalents, Beginning of Year
|
| | | | 5,785 | | | | | | — | | |
Cash and Cash Equivalents, End of Year
|
| | | $ | 5,616 | | | | | $ | 5,785 | | |
|
Equity Compensation Plan Information
|
| ||||||||||||||||||
| | |
Number of
securities to be issued upon exercise of outstanding options, warrants and rights |
| |
Weighted-average
exercise price of outstanding options, warrants and rights |
| |
Number of securities
remaining available for future issuance under stock-based compensation plans (excluding securities reflected in first column) |
| |||||||||
Equity compensation plans approved by security holders
|
| | | | 101,611 | | | | | $ | 15.79 | | | | | | 82,231 | | |
Equity compensation plans not approved by security
holders |
| | | | N/A | | | | | | N/A | | | | | | N/A | | |
Total
|
| | | | 101,611 | | | | | $ | 15.79 | | | | | | | | |
|
|
3.1
|
| | Articles of Incorporation of Eagle Financial Bancorp, Inc. (1) | |
|
3.2
|
| | Bylaws of Eagle Financial Bancorp, Inc. (2) | |
|
4
|
| | Form of Common Stock Certificate of Eagle Financial Bancorp, Inc. (3) | |
|
10.1
|
| | Form of Employment Agreement between Eagle Savings Bank and Gary J. Koester (4) | |
|
10.2
|
| | Form of Employment Agreement between Eagle Savings Bank and certain officers (5) | |
|
10.3
|
| | Form of Eagle Savings Bank Amended and Restated Supplemental Executive Retirement Plan (6) | |
|
10.4
|
| | Form of Eagle Savings Bank Amended and Restated Supplemental Director Retirement Plan (7) | |
|
21
|
| | Subsidiaries of Registrant (8) | |
|
23.1
|
| | Consent of BKD LLP | |
|
31.1
|
| | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
|
31.2
|
| | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
|
32
|
| | Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
|
101
|
| | Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Balance Sheets as of December 31, 2018 and 2017, (ii) the Consolidated Statements of Income for the years ended December 31, 2018 and 2017, (iii) the Consolidated Statements of Retained Earnings for the years ended December 31, 2018 and 2017, (iv) the Consolidated Statements of Cash Flows for the years ended December 31, 2018 and 2017, and (v) the notes to the Consolidated Financial Statements | |
| | | | Eagle Financial Bancorp, Inc. | |
| Date: March 27, 2019 | | |
By:
/s/ Gary J. Koester
Gary J. Koester
President and Chief Executive Officer (Duly Authorized Representative) |
|
Signatures
|
| |
Title
|
| |
Date
|
|
/s/ Gary J. Koester
Gary J. Koester
|
| | President, Chief Executive Officer and Director (Principal Executive Officer) | | |
March 27, 2019
|
|
/s/ Kevin R. Schramm
Kevin R. Schramm
|
| | Vice President, Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer) | | |
March 27, 2019
|
|
/s/ James W. Braun
James W. Braun
|
| | Chairman of the Board | | |
March 27, 2019
|
|
/s/ Guy W. Cagney
Guy W. Cagney
|
| | Director | | |
March 27, 2019
|
|
/s/ Steven J. Dulle
Steven J. Dulle
|
| | Director | | |
March 27, 2019
|
|
/s/ Adam B. Goetzman
Adam B. Goetzman
|
| | Director | | |
March 27, 2019
|
|
/s/ Steven C. Kehoe
Steven C. Kehoe
|
| | Director | | |
March 27, 2019
|
|
1 Year Eagle Financial Bancorp Chart |
1 Month Eagle Financial Bancorp Chart |
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