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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Assets    
Cash and due from banks $ 43,593 $ 31,537
Time deposits in other financial institutions 350 350
Cash and cash equivalents 43,943 31,887
Equity securities, at fair value (Note 2) 8,566 8,492
Securities available for sale, at fair value (Note 2) 529,749 1,098,885
Securities held to maturity, at amortized cost (Note 2) 425,906 0
Federal Home Loan Bank stock 3,517 3,824
Federal Reserve Bank stock 5,064 5,064
Loans held for sale 4,834 9,351
Loans to other financial institutions 0 42,632
Loans (Note 3) 1,189,782 1,016,848
Allowance for loan losses (Note 3) (7,619) (7,688)
Loans, net 1,182,163 1,009,160
Premises and equipment, net (Note 5) 28,232 29,880
Other real estate owned, net (Note 7) 0 194
Cash value of life insurance policies 43,978 43,356
Goodwill (Note 6) 59,946 59,946
Core deposit intangible (Note 6) 2,809 3,962
Other assets 47,208 20,049
Total assets 2,385,915 2,366,682
Liabilities    
Deposits – noninterest-bearing (Note 9) 599,579 560,931
Deposits – interest-bearing (Note 9) 1,518,424 1,491,363
Total deposits 2,118,003 2,052,294
Borrowings (Note 10) 50,000 50,000
Subordinated debentures (Note 11) 35,262 35,017
Other liabilities 13,776 7,702
Total liabilities 2,217,041 2,145,013
Shareholders' Equity    
Preferred stock; shares authorized: 100,000; shares outstanding: none 0 0
Common stock and paid-in capital, no par value; shares authorized: 15,000,000; shares outstanding: 7,516,098 at December 31, 2022 and 7,510,379 at December 31, 2021 (Note 16) 172,277 171,913
Retained earnings 68,394 52,332
Accumulated other comprehensive income, net (71,797) (2,576)
Total shareholders’ equity 168,874 221,669
Total liabilities and shareholders’ equity $ 2,385,915 $ 2,366,682