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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 35,951 $ 32,586
Interest-bearing deposits with banks 96,558 32,575
Cash and cash equivalents 132,509 65,161
Restricted investments in bank stocks 11,147 11,992
Securities available for sale (amortized cost of $566,421 and $549,089 at June 30, 2024 and December 31, 2023, respectively) 529,082 513,519
Loans held for sale, at fair value 1,562 5,816
Loans 2,347,603 2,298,313
Less: Allowance for credit losses (29,864) (28,702)
Net loans 2,317,739 2,269,611
Premises and equipment, net 28,484 29,393
Cash surrender value of life insurance 74,119 73,204
Goodwill 18,724 18,724
Other intangible assets, net 1,974 2,414
Accrued interest receivable 14,120 13,630
Deferred tax assets, net 21,674 22,017
Other assets 47,648 38,759
Total assets 3,198,782 3,064,240
Deposits:    
Noninterest-bearing 425,255 430,959
Interest-bearing 2,277,629 2,127,855
Total deposits 2,702,884 2,558,814
Securities sold under agreements to repurchase and federal funds purchased 14,625 9,785
FHLB advances and other borrowings 115,000 137,500
Subordinated notes 32,128 32,093
Other liabilities 55,769 60,992
Total liabilities 2,920,406 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; 11,201,269 shares issued and 10,720,225 outstanding at June 30, 2024; 11,204,599 shares issued and 10,612,390 outstanding at December 31, 2023 583 583
Additional paid - in capital 187,694 189,027
Retained earnings 129,670 117,667
Accumulated other comprehensive loss (28,404) (28,476)
Treasury stock—481,044 and 592,209 shares, at cost at June 30, 2024 and December 31, 2023, respectively (11,167) (13,745)
Total shareholders’ equity 278,376 265,056
Total liabilities and shareholders’ equity $ 3,198,782 $ 3,064,240