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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 39,823 $ 28,029
Interest-earning deposits in other banks 81,735 92,369
Total cash and cash equivalents 121,558 120,398
Available-for-sale debt securities, at fair value, net of allowance for credit losses of $0, with an amortized cost of $515,813 at September 30, 2025 and $536,334 at December 31, 2024, respectively 473,075 477,113
Held-to-maturity debt securities, at amortized cost less allowance for credit losses of $724 at September 30, 2025 and $1,156 at December 31, 2024, respectively 287,082 301,359
Equity securities, at fair value 6,769 6,586
Loans, less allowance for credit losses of $29,590 at September 30, 2025 and $25,803 at December 31, 2024, respectively 2,421,552 2,308,418
Bank premises and equipment, net 23,569 24,469
Bank-owned life insurance 53,783 53,319
Federal Home Loan Bank stock 10,978 10,978
Goodwill 96,828 96,828
Core deposit intangibles 8,516 9,268
Accrued interest receivable and other assets 108,554 113,035
Total assets 3,612,264 3,521,771
Deposits:    
Non-interest bearing 1,091,817 980,824
Interest bearing 1,984,114 1,929,953
Total deposits 3,075,931 2,910,777
Borrowings 20,000 133,442
Senior debt and subordinated debentures, less debt issuance costs of $157 at September 30, 2025 and $266 at December 31, 2024 69,998 69,889
Accrued interest payable and other liabilities 48,759 44,978
Total liabilities 3,214,688 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
Common stock, no par value; 80,000,000 shares authorized; issued and outstanding: 19,138,677 at September 30, 2025 and 18,974,647 at December 31, 2024 209,671 207,816
Retained earnings 230,119 209,984
Accumulated other comprehensive loss, net of tax (42,214) (55,115)
Total shareholders’ equity 397,576 362,685
Total liabilities and shareholders’ equity $ 3,612,264 $ 3,521,771