XML 13 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 23,552 $ 32,586
Interest-bearing deposits with banks 159,170 32,575
Cash and cash equivalents 182,722 65,161
Restricted investments in bank stocks 11,453 11,992
Securities available for sale (amortized cost of $552,155 and $549,089 at March 31, 2024 and December 31, 2023, respectively) 514,909 513,519
Loans held for sale, at fair value 535 5,816
Loans 2,303,073 2,298,313
Less: Allowance for credit losses (29,165) (28,702)
Net loans 2,273,908 2,269,611
Premises and equipment, net 28,952 29,393
Cash surrender value of life insurance 73,656 73,204
Goodwill 18,724 18,724
Other intangible assets, net 2,189 2,414
Accrued interest receivable 13,496 13,630
Deferred tax assets, net 21,181 22,017
Other assets 41,606 38,759
Total assets 3,183,331 3,064,240
Deposits:    
Noninterest-bearing 418,512 430,959
Interest-bearing 2,277,439 2,127,855
Total deposits 2,695,951 2,558,814
Securities sold under agreements to repurchase and federal funds purchased 12,099 9,785
FHLB advances and other borrowings 115,000 137,500
Subordinated notes 32,111 32,093
Other liabilities 56,488 60,992
Total liabilities 2,911,649 2,799,184
Commitments and contingencies
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; 11,203,221 shares issued and 10,705,077 outstanding at March 31, 2024; 11,204,599 shares issued and 10,612,390 outstanding at December 31, 2023 583 583
Additional paid - in capital 187,267 189,027
Retained earnings 124,075 117,667
Accumulated other comprehensive loss (28,668) (28,476)
Treasury stock—498,144 and 592,209 shares, at cost at March 31, 2024 and December 31, 2023, respectively (11,575) (13,745)
Total shareholders’ equity 271,682 265,056
Total liabilities and shareholders’ equity $ 3,183,331 $ 3,064,240