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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 57,518 $ 45,435
Interest-bearing balances with other financial institutions 19,323 34,668
Federal funds sold 67,554 16,660
Total cash and cash equivalents 144,395 96,763
Investment securities:    
HTM, at amortized cost (fair value $354,365 and $357,521, respectively) 386,618 399,128
AFS, at fair value 255,227 223,555
Equity securities, at fair value 446 438
Loans held for sale, at fair value 7,919 3,855
Loans, net of unearned income 4,431,704 4,252,792
Less: ACL - Loans (35,562) (34,187)
Net loans 4,396,142 4,218,605
Premises and equipment, net 33,765 36,909
Operating lease right of use asset 7,390 8,953
Finance lease right of use asset 2,593 2,727
Cash surrender value of life insurance 53,135 54,497
Restricted investment in bank stocks 10,589 16,768
Accrued interest receivable 27,286 25,820
Deferred income taxes 23,197 24,146
Goodwill 128,160 127,031
Core deposit and other intangibles, net 6,713 6,479
Foreclosed assets held for sale 281 293
Other assets 43,169 44,825
Total Assets 5,527,025 5,290,792
Deposits:    
Noninterest-bearing demand 791,980 801,312
Interest-bearing transaction accounts 2,288,783 2,086,450
Time 1,626,001 1,458,450
Total Deposits 4,706,764 4,346,212
Short-term borrowings 114,097 241,532
Long-term debt 23,716 59,003
Subordinated debt 45,894 46,354
Operating lease liability 7,778 9,285
Accrued interest payable 18,995 14,257
Other liabilities 36,722 31,799
Total Liabilities 4,953,966 4,748,442
Shareholders' Equity:    
Common stock, par value $1.00 per share; 40,000,000 shares authorized at September 30, 2024 and December 31, 2023; 17,060,896 issued at September 30, 2024 and 16,998,929 at December 31, 2023; 16,620,174 outstanding at September 30, 2024 and 16,573,707 at December 31, 2023 17,061 16,999
Additional paid-in capital 406,922 405,725
Retained earnings 172,234 145,982
Accumulated other comprehensive loss (13,116) (16,637)
Treasury stock, at cost; 440,722 shares at September 30, 2024 and 425,222 shares at December 31, 2023 (10,042) (9,719)
Total Shareholders’ Equity 573,059 542,350
Total Liabilities and Shareholders' Equity $ 5,527,025 $ 5,290,792