XML 12 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash due from banks $ 23,278 $ 17,901
Federal funds sold and interest-bearing balances in banks 367,930 289,638
Cash and cash equivalents 391,208 307,539
Time deposits in banks 747 1,245
Investment securities available-for-sale ("AFS"), at fair value, net of allowance for credit losses of $0 at both June 30, 2024 and December 31, 2023 183,633 163,152
Equity securities 12,837 12,585
Federal Home Loan Bank ("FHLB") stock, at par 11,313 11,313
Federal Reserve Bank ("FRB") stock, at par 9,635 9,626
Loans, net of allowance for credit losses of $19,000 at June 30, 2024 and $22,000 at December 31, 2023 1,845,172 1,905,829
Premises and equipment, net 14,052 13,734
Core deposit intangible, net 3,304 3,915
Cash surrender value of bank owned life insurance ("BOLI") policies, net 23,225 22,867
Right-of-use assets ("ROU"), net 12,874 13,939
Goodwill 38,838 38,838
Interest receivable and other assets 47,095 47,378
Total assets 2,593,933 2,551,960
LIABILITIES AND SHAREHOLDERS' EQUITY    
Noninterest and interest bearing deposits 2,175,010 2,132,750
Junior subordinated deferrable interest debentures, net 8,605 8,565
Subordinated debt, net 63,651 63,881
Salary continuation plan 4,733 4,552
Lease liabilities 13,779 14,752
Interest payable and other liabilities 12,890 14,591
Total liabilities 2,278,668 2,239,091
Commitments and contingencies (Note 17)
Shareholders' equity    
Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding at both June 30, 2024 and December 31, 2023
Common stock, no par value; 100,000,000 shares authorized; 11,172,323 and 11,551,271 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 173,108 180,913
Additional paid in capital 287 287
Accumulated other comprehensive loss, net of tax (13,602) (14,592)
Retained earnings 155,472 146,261
Total shareholders' equity 315,265 312,869
Total liabilities and shareholders' equity $ 2,593,933 $ 2,551,960