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CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 23,422 $ 16,352
Interest-bearing deposits with banks 100,141 30,910
Total Cash and Cash Equivalents 123,563 47,262
Equity securities with readily determinable fair values 933 919
Investment securities available for sale, at estimated fair value 455,819 393,975
Investment securities held to maturity, at amortized cost (fair value $56,219, $56,924) 64,554 64,578
Loans held for sale 21,413 426
Total loans, net of unearned income 2,322,209 1,682,910
Allowance for credit losses (24,646) (17,280)
Loans, net 2,297,563 1,665,630
Premises and equipment, net 32,398 25,454
Right of use asset 5,440 2,663
Restricted investment in bank stocks 13,560 10,853
Investment in bank-owned life insurance 98,814 81,850
Investments in low-income housing partnerships 846 877
Goodwill 64,449 44,185
Intangible assets, net 25,835 7,838
Foreclosed assets held for resale 438 438
Other assets 64,416 47,882
Total assets 3,270,041 2,394,830
Deposits:    
Noninterest-bearing 562,700 451,503
Interest-bearing 1,977,309 1,340,998
Total deposits 2,540,009 1,792,501
Short-term borrowings 44,188 15,826
Long-term borrowings 255,343 255,333
Lease liability 5,790 2,764
Allowance for unfunded commitments 1,883 1,394
Other liabilities 35,945 23,739
Total Liabilities 2,883,158 2,091,557
Stockholders’ Equity:    
Preferred Stock, $2.50 par value; 20,000,000 shares authorized; no shares outstanding at September 30, 2024 and December 31, 2023 0 0
Common stock, $2.50 par value; 20,000,000 shares authorized; 11,011,051 and 8,945,293 shares issued; 10,543,671 and 8,553,785 shares outstanding at March 31, 2025 and December 31, 2024, respectively 27,521 22,357
Treasury stock, at cost 467,380 and 391,508 shares at March 31, 2025 and December 31, 2024, respectively (14,309) (11,203)
Additional paid-in capital 178,011 99,163
Retained earnings 230,978 234,624
Accumulated other comprehensive loss (35,318) (41,668)
Total Stockholders’ Equity 386,883 303,273
Total Liabilities and Stockholders’ Equity $ 3,270,041 $ 2,394,830