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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 35,710 $ 28,029
Interest-earning deposits in other banks 112,682 92,369
Total cash and cash equivalents 148,392 120,398
Available-for-sale debt securities, at fair value, net of allowance for credit losses of $0, with an amortized cost of $525,499 at March 31, 2025 and $536,334 at December 31, 2024, respectively 469,033 477,113
Held-to-maturity debt securities, at amortized cost less allowance for credit losses of $974 at March 31, 2025 and $1,156 at December 31, 2024, respectively 301,160 301,359
Equity securities, at fair value 6,684 6,586
Loans, less allowance for credit losses of $26,095 at March 31, 2025 and $25,803 at December 31, 2024, respectively 2,320,802 2,308,418
Bank premises and equipment, net 23,828 24,469
Bank-owned life insurance 53,685 53,319
Federal Home Loan Bank stock 10,978 10,978
Goodwill 96,828 96,828
Core deposit intangibles 9,017 9,268
Accrued interest receivable and other assets 112,679 113,035
Total assets 3,553,086 3,521,771
Deposits:    
Non-interest bearing 1,012,288 980,824
Interest bearing 1,916,390 1,929,953
Total deposits 2,928,678 2,910,777
Borrowings 134,377 133,442
Senior debt and subordinated debentures, less debt issuance costs of $230 at March 31, 2025 and $266 at December 31, 2024 69,925 69,889
Accrued interest payable and other liabilities 47,909 44,978
Total liabilities 3,180,889 3,159,086
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Preferred stock, no par value; 10,000,000 shares authorized, none issued and outstanding 0 0
Retained earnings 215,999 209,984
Accumulated other comprehensive loss, net of tax (52,760) (55,115)
Total shareholders’ equity 372,197 362,685
Total liabilities and shareholders’ equity 3,553,086 3,521,771
Non-voting common stock    
Shareholders’ equity:    
Common stock 0 0
Common stock    
Shareholders’ equity:    
Common stock $ 208,958 $ 207,816