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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and noninterest-bearing deposits with banks $ 15,422 $ 14,252
Interest-bearing deposits with banks 113,638 113,874
Total cash and cash equivalents 129,060 128,126
Securities available for sale 162,186 162,258
Securities held to maturity, net of allowance for credit losses of $2 in 2024 and 2023 7,968 7,986
Restricted investments in bank stocks 4,983 5,037
Total loans 989,862 971,900
Less: Allowance for credit losses (9,229) (8,767)
Net loans 980,633 963,133
Premises and equipment, net 21,728 21,450
Premises and equipment held for sale, net 568 573
Accrued interest receivable 4,338 3,606
Goodwill 7,319 7,319
Other intangible assets, net 5 8
Bank owned life insurance and annuity assets 40,745 40,593
Operating lease right-of-use asset, net 1,159 1,205
Deferred tax assets 6,438 6,306
Other assets 5,469 4,535
Total assets 1,372,599 1,352,135
LIABILITIES    
Noninterest-bearing deposits 306,574 322,222
Interest-bearing deposits 842,210 804,914
Total deposits 1,148,784 1,127,136
Other borrowed funds 43,261 44,593
Subordinated debentures 8,500 8,500
Operating lease liability 1,159 1,205
Allowance for credit losses on off-balance sheet commitments 586 692
Other liabilities 24,527 26,002
Total liabilities 1,226,817 1,208,128
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 5)
SHAREHOLDERS' EQUITY    
Common stock ($1.00 stated value per share, 10,000,000 shares authorized; 2024 - 5,490,995 shares issued; 2023 - 5,470,453 shares issued) 5,491 5,470
Additional paid-in capital 52,321 51,842
Retained earnings 116,614 114,871
Accumulated other comprehensive income (loss) (11,896) (11,428)
Treasury stock, at cost (697,321 shares) (16,748) (16,748)
Total shareholders' equity 145,782 144,007
Total liabilities and shareholders' equity $ 1,372,599 $ 1,352,135