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Quarterly Information
12 Months Ended
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information Quarterly Information
The following tables provide unaudited financial information by quarter for each of the past two years:
Dollars in thousands except per share data2021Q12021Q22021Q32021Q42022Q12022Q22022Q32022Q4
Balance Sheets
Cash and cash equivalents$20,029 $27,092 $27,126 $20,634 $22,051 $23,453 $27,408 $22,728 
Interest-bearing deposits in other banks104,602 42,215 93,779 66,678 18,427 22,871 65,786 3,693 
Investments679,889 682,428 684,923 690,606 690,198 681,430 665,174 678,405 
Restricted equity securities10,105 8,839 8,839 5,365 5,402 4,720 4,514 3,883 
Net loans and loans held for sale1,503,700 1,572,377 1,601,142 1,632,963 1,691,982 1,772,843 1,841,588 1,898,226 
Other assets118,543 117,492 113,782 110,853 120,547 125,037 130,595 132,243 
Total assets$2,436,868 $2,450,443 $2,529,591 $2,527,099 $2,548,607 $2,630,354 $2,735,065 $2,739,178 
Deposits$1,953,557 $1,961,321 $2,033,213 $2,123,297 $2,158,539 $2,252,022 $2,369,949 $2,378,877 
Borrowed funds229,648 228,648 233,201 136,342 133,712 126,588 118,343 103,483 
Other liabilities25,479 26,319 24,440 21,803 22,710 24,059 26,856 27,895 
Shareholders' equity228,184 234,155 238,737 245,657 233,646 227,685 219,917 228,923 
  Total liabilities
   & equity
$2,436,868 $2,450,443 $2,529,591 $2,527,099 $2,548,607 $2,630,354 $2,735,065 $2,739,178 
Income and Comprehensive Income Statements
Interest income$18,953 $18,541 $19,588 $19,999 $20,533 $21,431 $23,991 $27,080 
Interest expense3,080 2,818 2,577 2,303 1,913 2,733 4,627 7,596 
Net interest income15,873 15,723 17,011 17,696 18,620 18,698 19,364 19,484 
   Provision for loan losses (credit)525 525 525 (1,950)450 450 400 450 
Net interest income after provision for loan losses (credit)15,348 15,198 16,486 19,646 18,170 18,248 18,964 19,034 
Non-interest income5,298 4,911 4,375 4,799 4,232 4,080 4,715 3,847 
Non-interest expense9,874 9,496 9,932 12,846 10,650 10,172 11,371 11,711 
Income before taxes10,772 10,613 10,929 11,599 11,752 12,156 12,308 11,170 
Income taxes1,850 1,826 1,915 2,053 2,047 2,159 2,217 1,973 
Net income$8,922 $8,787 $9,014 $9,546 $9,705 $9,997 $10,091 $9,197 
Basic earnings per share$0.82 $0.81 $0.83 $0.87 $0.89 $0.91 $0.92 $0.84 
Diluted earnings per share$0.81 $0.80 $0.82 $0.87 $0.88 $0.91 $0.91 $0.83 
Other comprehensive income (loss), net of tax
Net unrealized gain (loss) on securities available for sale$(4,790)$971 $(1,817)$(1,091)$(18,343)$(12,734)$(14,866)$2,943 
Net unrealized gain on securities transferred from available for sale to held to maturity11 14 12 
Net unrealized gain (loss) on cash flow hedging derivative instruments3,469 (620)546 1,537 — 146 354 44 
Unrecognized gain on postretirement benefit costs— — — 77 — — — 168 
Other comprehensive income (loss)$(1,312)$362 $(1,257)$535 $(18,334)$(12,583)$(14,506)$3,158 
Comprehensive income (loss)$7,610 $9,149 $7,757 $10,081 $(8,629)$(2,586)$(4,415)$12,355