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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 26,614 $ 26,373
Interest-bearing bank balances 173,246 123,455
Investment securities available-for-sale 286,944 279,582
Investment securities held-to-maturity, fair value of $194,940 and $196,040 at March 31, 2025 and December 31, 2024, respectively, net of allowance for credit losses — investments 205,795 209,413
Other investments, at cost 2,894 2,679
Loans held-for-sale 7,052 9,662
Loans held-for-investment 1,251,980 1,220,542
Less, allowance for credit losses – loans 13,608 13,135
Net loans held-for-investment 1,238,372 1,207,407
Property and equipment – net 29,751 29,975
Lease right-of-use asset 2,406 2,477
Bank owned life insurance 31,175 30,973
Other real estate owned 437 543
Intangible assets 407 446
Goodwill 14,637 14,637
Other assets 19,641 20,399
Total assets 2,039,371 1,958,021
Deposits:    
Non-interest bearing 468,874 462,717
Interest bearing 1,256,844 1,213,184
Total deposits 1,725,718 1,675,901
Securities sold under agreements to repurchase 129,812 103,110
Junior subordinated debt 14,964 14,964
Lease liability 2,579 2,646
Other liabilities 16,339 16,906
Total liabilities 1,889,412 1,813,527
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 7,681,601 at March 31, 2025 and 7,644,424 at December 31, 2024 7,682 7,644
Nonvested restricted stock and stock units 1,939 2,639
Additional paid in capital 94,626 93,834
Retained earnings 68,685 65,836
Accumulated other comprehensive loss (22,973) (25,459)
Total shareholders’ equity 149,959 144,494
Total liabilities and shareholders’ equity $ 2,039,371 $ 1,958,021