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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 34,728 $ 28,477
Interest-bearing deposits with banks 60,211 32,346
Cash and cash equivalents 94,939 60,823
Restricted investments in bank stocks 12,987 10,642
Securities available for sale (amortized cost of $553,222 and $563,278 at September 30, 2023 and December 31, 2022, respectively) 495,162 513,728
Loans held for sale, at fair value 6,448 10,880
Loans 2,266,836 2,151,232
Less: Allowance for credit losses (28,278) (25,178)
Net loans 2,238,558 2,126,054
Premises and equipment, net 29,385 29,328
Cash surrender value of life insurance 72,754 71,760
Goodwill 18,724 18,724
Other intangible assets, net 2,650 3,078
Accrued interest receivable 12,212 11,027
Deferred tax assets, net 25,500 24,031
Other assets 45,116 42,333
Total assets 3,054,435 2,922,408
Deposits:    
Noninterest-bearing 435,488 494,131
Interest-bearing 2,110,947 1,950,807
Deposits held for assumption in connection with sale of bank branch 0 31,307
Total deposits 2,546,435 2,476,246
Securities sold under agreements to repurchase and federal funds purchased 17,991 17,251
FHLB advances and other borrowings 157,250 106,139
Subordinated notes 32,076 32,026
Other liabilities 57,603 61,850
Total liabilities 2,811,355 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; 11,206,480 shares issued and 10,613,271 outstanding at September 30, 2023; 11,229,242 shares issued and 10,671,413 outstanding at December 31, 2022 583 584
Additional paid - in capital 188,458 189,264
Retained earnings 112,144 92,473
Accumulated other comprehensive loss (44,343) (39,913)
Treasury stock—593,209 and 557,829 shares, at cost at September 30, 2023 and December 31, 2022, respectively (13,762) (13,512)
Total shareholders’ equity 243,080 228,896
Total liabilities and shareholders’ equity $ 3,054,435 $ 2,922,408