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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and noninterest-bearing deposits with banks $ 15,506 $ 14,330
Interest-bearing deposits with banks 74,342 31,660
Total cash and cash equivalents 89,848 45,990
Certificates of deposit in financial institutions 735 1,862
Securities available for sale 179,753 184,074
Securities held to maturity, net of allowance for credit losses of $3 in 2023 and $0 in 2022; (estimated fair value: 2023 - $8,398; 2022 - $8,460) 9,001 9,226
Restricted investments in bank stocks 4,093 5,953
Total loans 906,313 885,049
Less: Allowance for credit losses (7,607) (5,269)
Net loans 898,706 879,780
Premises and equipment, net 20,488 20,436
Premises and equipment held for sale, net 588 593
Accrued interest receivable 3,225 3,112
Goodwill 7,319 7,319
Other intangible assets, net 23 29
Bank owned life insurance and annuity assets 39,834 39,627
Operating lease right-of-use asset, net 1,246 1,294
Deferred tax assets 6,160 6,266
Other assets 5,446 5,226
Total assets 1,266,465 1,210,787
LIABILITIES    
Noninterest-bearing deposits 339,594 354,413
Interest-bearing deposits 741,601 673,242
Total deposits 1,081,195 1,027,655
Other borrowed funds 17,330 17,945
Subordinated debentures 8,500 8,500
Operating lease liability 1,246 1,294
Allowance for credit losses on off-balance sheet commitments 655 0
Other liabilities 19,994 20,365
Total liabilities 1,128,920 1,075,759
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 5)
SHAREHOLDERS' EQUITY    
Common stock ($1.00 stated value per share, 10,000,000 shares authorized; 2023 - 5,470,453 shares issued; 2022 - 5,465,707 shares issued) 5,470 5,465
Additional paid-in capital 51,842 51,722
Retained earnings 110,017 109,320
Accumulated other comprehensive income (loss) (13,118) (14,813)
Treasury stock, at cost (693,933 shares) (16,666) (16,666)
Total shareholders' equity 137,545 135,028
Total liabilities and shareholders' equity $ 1,266,465 $ 1,210,787