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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 96,401 $ 55,083
Time deposits in other financial institutions 350 350
Cash and cash equivalents 96,751 55,433
Equity securities, at fair value (Note 2) 7,782 7,505
Securities available for sale, at fair value (Note 2) 479,117 514,598
Securities held to maturity, at amortized cost (Note 2) 394,534 407,959
Federal Home Loan Bank Stock 9,383 4,449
Federal Reserve Bank Stock 5,307 5,065
Loans held for sale 7,288 4,710
Loans to other financial institutions 39,878 19,400
Core Loans 1,505,762 1,391,253
Total loans held for investment (Note 3) 1,545,640 1,410,653
Allowance for loan losses (Note 3) (16,552) (15,685)
Loans, net 1,529,088 1,394,968
Premises and equipment, net (Note 5) 27,099 29,750
Other real estate owned, net (Note 7) 473 122
Cash value of life insurance policies 44,896 45,074
Goodwill (Note 6) 59,946 59,946
Core deposit intangible, net (Note 6) 1,096 1,854
Other assets 60,483 45,273
Total assets 2,723,243 2,576,706
Liabilities    
Deposits - noninterest-bearing (Note 9) 524,945 547,625
Deposits - interest-bearing (Note 9) 1,652,647 1,550,985
Brokered deposits (Note 9) 36,511 23,445
Total deposits 2,214,103 2,122,055
Borrowings (Note 10) 175,000 200,000
Subordinated debentures (Note 11) 35,752 35,507
Other liabilities (Notes 12) 37,973 23,510
Total liabilities 2,462,828 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: 30,000,000; shares outstanding: 8,965,483 at December 31, 2024 and 7,548,217 at December 31, 2023 (Note 16) 206,780 173,513
Retained earnings 91,414 73,699
Accumulated other comprehensive income, net (37,779) (51,578)
Total shareholders’ equity 260,415 195,634
Total liabilities and shareholders’ equity $ 2,723,243 $ 2,576,706