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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Sep. 30, 2021
Assets      
Cash and cash equivalents $ 27,408 $ 20,634 $ 27,126
Interest bearing deposits in other banks 65,786 66,678 93,779
Securities available for sale 283,268 320,566 309,224
Securities to be held to maturity (fair value of $313,796,000 at September 30, 2022, $375,327,000 at December 31, 2021 and $379,797,000 at September 30, 2021) 381,906 370,040 375,699
Restricted equity securities, at cost 4,514 5,365 8,839
Loans held for sale 0 835 1,437
Loans 1,857,975 1,647,649 1,617,212
Less allowance for loan losses 16,387 15,521 17,507
Net loans 1,841,588 1,632,128 1,599,705
Accrued interest receivable 8,176 7,544 8,380
Premises and equipment, net 28,548 28,949 29,106
Goodwill 30,646 30,646 30,646
Other assets 63,225 43,714 45,650
Total assets 2,735,065 2,527,099 2,529,591
Liabilities      
Demand deposits 356,867 334,945 354,899
NOW deposits 656,865 655,061 625,294
Money market deposits 188,729 206,901 190,420
Savings deposits 381,312 360,185 348,033
Certificates of deposit 786,176 566,205 514,567
Total deposits 2,369,949 2,123,297 2,033,213
Borrowed funds – short term 118,258 81,252 178,109
Borrowed funds – long term 85 55,090 55,092
Other liabilities 26,856 21,803 24,440
Total liabilities 2,515,148 2,281,442 2,290,854
Shareholders' equity      
Common stock, one cent par value per share 110 110 110
Additional paid-in capital 68,028 66,830 66,471
Retained earnings 198,902 180,417 174,391
Accumulated other comprehensive income (loss)      
Net unrealized loss on securities available for sale (47,661) (1,718) (627)
Net unrealized loss on securities transferred from available for sale to held to maturity (67) (87) (99)
Net unrealized gain (loss) on cash flow hedging derivative instruments 500 0 (1,537)
Net unrealized gain on postretirement costs 105 105 28
Total shareholders' equity 219,917 245,657 238,737
Total liabilities & shareholders' equity $ 2,735,065 $ 2,527,099 $ 2,529,591
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 11,038,224 10,998,765 10,992,950
Number of shares outstanding (in shares) 11,038,224 10,998,765 10,992,950
Book value per common share (usd per share) $ 19.92 $ 22.33 $ 21.72
Tangible book value per common share (usd per share) $ 17.13 $ 19.52 $ 18.90