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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 149,779 $ 55,083
Time deposits in other financial institutions 350 350
Cash and cash equivalents 150,129 55,433
Equity securities, at fair value (Note 2) 7,560 7,505
Securities available for sale, at fair value (Note 2) 504,636 514,598
Securities held to maturity, at amortized cost net of credit losses (Note 2) 397,981 407,959
Federal Home Loan Bank stock 4,449 4,449
Federal Reserve Bank stock 5,066 5,065
Loans held for sale 6,035 4,710
Loans to other financial institutions (Note 3) 30,032 19,400
Core loans (Note 3) 1,388,558 1,391,253
Total loans held for investment (Note 3) 1,418,590 1,410,653
Allowance for credit losses (Note 3) (16,037) (15,685)
Loans, net 1,402,553 1,394,968
Premises and equipment, net 28,268 29,750
Other real estate owned, net 122 122
Cash value of life insurance policies 45,079 45,074
Goodwill 59,946 59,946
Core deposit intangible 1,651 1,854
Other assets 57,224 45,273
Total assets 2,670,699 2,576,706
Liabilities    
Deposits - noninterest-bearing 502,685 547,625
Deposits - interest-bearing 1,641,193 1,550,985
Brokered deposits 41,970 23,445
Total deposits 2,185,848 2,122,055
Borrowings 210,000 200,000
Subordinated debentures 35,568 35,507
Other liabilities 32,527 23,510
Total liabilities 2,463,943 2,381,072
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 173,786 173,513
Retained earnings 77,294 73,699
Accumulated other comprehensive loss, net (44,324) (51,578)
Total shareholders’ equity 206,756 195,634
Total liabilities and shareholders’ equity $ 2,670,699 $ 2,576,706