XML 84 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets [Abstract]    
Cash and due from banks $ 24,916 $ 17,194
Interest-bearing deposits in banks 137,958 69,967
Cash and cash equivalents 162,874 87,161
Securities available for sale, at fair value 163,847 152,857
Securities held to maturity, at amortized cost (net of allowance for credit losses, 2024, $95, 2023, $107) 109,741 148,244
Restricted securities, at cost 3,741 2,078
Loans held for sale 409 0
Loans, net of allowance for credit losses, 2024, $16,400, 2023, $11,974 1,450,195 957,456
Other real estate owned, net of valuation allowance, 2024, $0, 2023, $0 53 0
Premises and equipment, net 34,824 22,142
Accrued Investment Income Receivable 6,020 4,655
Bank owned life insurance 37,873 24,902
Core deposit intangibles, net 14,986 117
Goodwill 3,030 3,030
Other Assets 22,688 16,653
Total assets 2,010,281 1,419,295
Liabilities [Abstract]    
Noninterest-bearing demand deposits 520,153 379,208
Savings and interest-bearing demand deposits 923,726 662,169
Time deposits 359,899 192,349
Total deposits 1,803,778 1,233,726
Other borrowings 0 50,000
Subordinated debt 21,176 4,997
Junior subordinated debt 9,279 9,279
Accrued Interest Payable and Other Liabilities 9,517 5,022
Total liabilities 1,843,750 1,303,024
Commitments and contingencies
Shareholders’ Equity    
Preferred stock, par value $1.25 per share; authorized 1,000,000 shares; none issued and outstanding 0 0
Common stock, par value $1.25 per share; authorized 16,000,000 shares; issued and outstanding, 2024, 8,974,102 shares, 2023, 6,263,102 shares 11,218 7,829
Surplus 77,058 32,950
Retained earnings 96,947 94,198
Accumulated other comprehensive (loss), net (18,692) (18,706)
Total shareholders’ equity 166,531 116,271
Total liabilities and shareholders’ equity $ 2,010,281 $ 1,419,295