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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 20,804 $ 27,908
Interest-bearing bank balances 122,778 66,787
Investment securities available-for-sale 274,349 282,226
Investment securities held-to-maturity, fair value of $201,753 and $205,518 at March 31, 2024 and December 31, 2023, respectively, net of allowance for credit losses — investments 215,230 217,170
Other investments, at cost 5,504 6,800
Loans held-for-sale 1,719 4,433
Loans held-for-investment 1,157,305 1,134,019
Less, allowance for credit losses – loans 12,459 12,267
Net loans held-for-investment 1,144,846 1,121,752
Property and equipment – net 30,444 30,589
Lease right-of-use asset 3,172 3,248
Bank owned life insurance 30,369 30,174
Other real estate owned 622 622
Intangible assets 564 604
Goodwill 14,637 14,637
Other assets 21,953 20,738
Total assets 1,886,991 1,827,688
Deposits:    
Non-interest bearing 443,257 432,333
Interest bearing 1,134,810 1,078,668
Total deposits 1,578,067 1,511,001
Securities sold under agreements to repurchase 81,833 62,863
Federal Home Loan Bank advances 60,000 90,000
Junior subordinated debt 14,964 14,964
Lease liability 3,357 3,426
Other liabilities 15,277 14,375
Total liabilities 1,753,498 1,696,629
SHAREHOLDERS’ EQUITY    
Preferred stock, par value $1.00 per share, 10,000,000 shares authorized; none issued and outstanding
Common stock, par value $1.00 per share; 20,000,000 shares authorized; issued and outstanding 7,629,005 at March 31, 2024 and 7,606,172 at December 31, 2023 7,629 7,606
Nonvested restricted stock and stock units 1,920 2,181
Additional paid in capital 93,556 93,167
Retained earnings 57,830 56,296
Accumulated other comprehensive loss (27,442) (28,191)
Total shareholders’ equity 133,493 131,059
Total liabilities and shareholders’ equity $ 1,886,991 $ 1,827,688