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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 31,855 $ 28,477
Interest-bearing deposits with banks 44,463 32,346
Cash and cash equivalents 76,318 60,823
Restricted investments in bank stocks 12,602 10,642
Securities available for sale (amortized cost of $552,224 and $563,278 at June 30, 2023 and December 31, 2022, respectively) 508,612 513,728
Loans held for sale, at fair value 6,450 10,880
Loans 2,234,417 2,151,232
Less: Allowance for credit losses (28,383) (25,178)
Net loans 2,206,034 2,126,054
Premises and equipment, net 29,629 29,328
Cash surrender value of life insurance 72,309 71,760
Goodwill 18,724 18,724
Other intangible assets, net 2,589 3,078
Accrued interest receivable 11,773 11,027
Deferred tax assets, net 22,093 24,031
Other assets 41,064 42,333
Total assets 3,008,197 2,922,408
Deposits:    
Noninterest-bearing 465,938 494,131
Interest-bearing 2,056,923 1,950,807
Deposits held for assumption in connection with sale of bank branch 0 31,307
Total deposits 2,522,861 2,476,246
Securities sold under agreements to repurchase and federal funds purchased 15,502 17,251
FHLB advances and other borrowings 136,727 106,139
Subordinated notes 32,059 32,026
Other liabilities 55,407 61,850
Total liabilities 2,762,556 2,693,512
Shareholders’ Equity    
Preferred stock, $1.25 par value per share; 500,000 shares authorized; no shares issued or outstanding 0 0
Common stock, no par value—$0.05205 stated value per share; 50,000,000 shares authorized; 11,208,080 shares issued and 10,611,425 outstanding at June 30, 2023; 11,229,242 shares issued and 10,671,413 outstanding at December 31, 2022 583 584
Additional paid - in capital 187,859 189,264
Retained earnings 105,239 92,473
Accumulated other comprehensive loss (34,196) (39,913)
Treasury stock—596,655 and 557,829 shares, at cost at June 30, 2023 and December 31, 2022, respectively (13,844) (13,512)
Total shareholders’ equity 245,641 228,896
Total liabilities and shareholders’ equity $ 3,008,197 $ 2,922,408