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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Jun. 30, 2021
Assets      
Cash and cash equivalents $ 23,453 $ 20,634 $ 27,092
Interest bearing deposits in other banks 22,871 66,678 42,215
Securities available for sale 301,737 320,566 306,247
Securities to be held to maturity (fair value of $335,950,000 at June 30, 2022, $375,327,000 at December 31, 2021 and $383,454,000 at June 30, 2021) 379,693 370,040 376,181
Restricted equity securities, at cost 4,720 5,365 8,839
Loans held for sale 689 835 1,147
Loans 1,788,355 1,647,649 1,588,264
Less allowance for loan losses 16,201 15,521 17,034
Net loans 1,772,154 1,632,128 1,571,230
Accrued interest receivable 10,262 7,544 10,985
Premises and equipment, net 29,010 28,949 29,503
Other real estate owned 51 0 224
Goodwill 30,646 30,646 30,646
Other assets 55,068 43,714 46,134
Total assets 2,630,354 2,527,099 2,450,443
Liabilities      
Demand deposits 324,354 334,945 303,168
NOW deposits 640,497 655,061 553,592
Money market deposits 206,313 206,901 175,839
Savings deposits 376,448 360,185 332,520
Certificates of deposit 704,410 566,205 596,202
Total deposits 2,252,022 2,123,297 1,961,321
Borrowed funds – short term 126,501 81,252 173,554
Borrowed funds – long term 87 55,090 55,094
Other liabilities 24,059 21,803 26,319
Total liabilities 2,402,669 2,281,442 2,216,288
Shareholders' equity      
Common stock, one cent par value per share 110 110 110
Additional paid-in capital 67,627 66,830 66,115
Retained earnings 192,565 180,417 168,908
Accumulated other comprehensive income (loss)      
Net unrealized gain (loss) on securities available for sale (32,795) (1,718) 1,190
Net unrealized loss on securities transferred from available for sale to held to maturity (73) (87) (113)
Net unrealized gain (loss) on cash flow hedging derivative instruments 146 0 (2,083)
Net unrealized gain on postretirement costs 105 105 28
Total shareholders' equity 227,685 245,657 234,155
Total liabilities & shareholders' equity $ 2,630,354 $ 2,527,099 $ 2,450,443
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 11,030,236 10,998,765 10,987,680
Number of shares outstanding (in shares) 11,030,236 10,998,765 10,987,680
Book value per common share (usd per share) $ 20.64 $ 22.33 $ 21.31
Tangible book value per common share (usd per share) $ 17.84 $ 19.52 $ 18.49