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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 16,527 $ 13,129
Interest-bearing deposits with other institutions 187,018 162,595
Federal funds sold 61,401 17,435
Total cash and cash equivalents 264,946 193,159
Securities available for sale, at fair value, amortized cost of $118,263 and $144,929, respectively 109,870 121,330
Restricted investments, at cost 4,974 7,557
Loans held for sale 3,173 2,660
Loans 1,452,264 1,467,049
Allowance for credit losses (15,282) (15,027)
Net Loans 1,436,982 1,452,022
Bank premises and equipment, net 14,625 14,339
Bank owned life insurance 30,894 30,621
Other assets 39,013 44,527
Total assets 1,904,477 1,866,215
Deposits:    
Noninterest bearing demand deposits 421,342 406,180
Savings and interest bearing demand deposits 697,679 679,330
Time deposits 494,770 489,646
Total deposits 1,613,791 1,575,156
Federal Home Loan Bank advances, short-term 25,000 25,000
Federal Home Loan Bank advances, long-term 40,000 95,000
Subordinated debt, net of unamortized issuance costs 29,529 29,512
Other liabilities 19,682 22,560
Total liabilities 1,728,002 1,747,228
Commitments and contingencies
Shareholders’ Equity    
Preferred stock, $10 par value; 500,000 shares authorized and unissued 0 0
Common stock, $2.50 par value; authorized 10,000,000 shares; issued and outstanding 2025, 5,378,653 including 77,871 shares of unvested restricted stock; issued and outstanding 2024, 3,549,581 including 64,043 shares of unvested restricted stock 13,252 8,714
Surplus 63,922 14,901
Retained earnings 105,928 114,012
Accumulated other comprehensive loss (6,627) (18,640)
Total shareholders’ equity 176,475 118,987
Total liabilities and shareholders’ equity $ 1,904,477 $ 1,866,215