XML 11 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 144,323 $ 43,593
Time deposits in other financial institutions 350 350
Cash and cash equivalents 144,673 43,943
Equity securities, at fair value (Note 2) 7,262 8,566
Securities available for sale, at fair value (Note 2) 490,804 529,749
Securities held to maturity, at amortized cost net of credit losses (Note 2) 414,743 425,906
Federal Home Loan Bank stock 4,449 3,517
Federal Reserve Bank stock 5,065 5,064
Loans held for sale 5,222 4,834
Loans to other financial institutions (Note 3) 23,763 0
Core loans (Note 3) 1,286,037 1,189,782
Total loans (Note 3) 1,309,800 1,189,782
Allowance for credit losses (Note 3) (14,872) (7,619)
Loans, net 1,294,928 1,182,163
Premises and equipment, net 29,628 28,232
Other real estate owned, net 122 0
Cash value of life insurance policies 44,788 43,978
Goodwill 59,946 59,946
Core deposit intangible 2,057 2,809
Other assets 70,509 47,208
Total assets 2,574,196 2,385,915
Liabilities    
Deposits - noninterest-bearing 531,962 599,579
Deposits - interest-bearing 1,551,995 1,518,424
Brokered deposits 49,238 0
Total deposits 2,133,195 2,118,003
Borrowings 180,000 50,000
Subordinated debentures 35,446 35,262
Other liabilities 44,394 13,776
Total liabilities 2,393,035 2,217,041
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: 7,541,187 at September 30, 2023 and 7,516,098 at December 31, 2022 173,187 172,277
Retained earnings 70,444 68,394
Accumulated other comprehensive loss, net (62,470) (71,797)
Total shareholders’ equity 181,161 168,874
Total liabilities and shareholders’ equity $ 2,574,196 $ 2,385,915