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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 55,083 $ 43,593
Time deposits in other financial institutions 350 350
Cash and cash equivalents 55,433 43,943
Equity securities, at fair value (Note 2) 7,505 8,566
Securities available for sale, at fair value (Note 2) 514,598 529,749
Securities held to maturity, at amortized cost (Note 2) 407,959 425,906
Federal Home Loan Bank Stock 4,449 3,517
Federal Reserve Bank Stock 5,065 5,064
Loans held for sale 4,710 4,834
Loans to other financial institutions 19,400 0
Core Loans 1,391,253 1,189,782
Total loans (Note 3) 1,410,653 1,189,782
Allowance for loan losses (Note 3) (15,685) (7,619)
Loans, net 1,394,968 1,182,163
Premises and equipment, net (Note 5) 29,750 28,232
Other real estate owned, net (Note 7) 122 0
Cash value of life insurance policies 45,074 43,978
Goodwill (Note 6) 59,946 59,946
Core deposit intangible (Note 6) 1,854 2,809
Other assets 45,273 47,208
Total assets 2,576,706 2,385,915
Liabilities    
Deposits - noninterest-bearing (Note 9) 547,625 599,579
Deposits - interest-bearing (Note 9) 1,550,985 1,516,681
Brokered deposits (Note 9) 23,445 1,743
Total deposits 2,122,055 2,118,003
Borrowings (Note 10) 200,000 50,000
Subordinated debentures (Note 11) 35,507 35,262
Other liabilities (Notes 12) 23,510 13,776
Total liabilities 2,381,072 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: 7,548,217 at December 31, 2023 and 7,516,098 at December 31, 2022 (Note 16) 173,513 172,277
Retained earnings 73,699 68,394
Accumulated other comprehensive income, net (51,578) (71,797)
Total shareholders’ equity 195,634 168,874
Total liabilities and shareholders’ equity $ 2,576,706 $ 2,385,915