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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 16,468 $ 27,101
Interest-bearing deposits at other banks 4,920 4,918
Investment securities available-for-sale, at fair value 437,276 452,769
Investment securities, held-to-maturity, net of allowance for credit losses of $91 and $91, fair value of $3,104 and $3,049 3,584 3,555
Bank stocks, at cost 7,850 8,123
Loans, net of allowance for credit losses of $10,851 and $10,608 952,611 937,619
Loans held for sale, at fair value 2,697 853
Bank owned life insurance 38,578 38,333
Premises and equipment, net 20,696 19,709
Goodwill 32,377 32,377
Other intangible assets, net 3,071 3,241
Mortgage servicing rights 2,977 3,158
Real estate owned, net 428 928
Accrued interest and other assets 29,684 28,988
Total assets 1,553,217 1,561,672
Deposits:    
Non-interest-bearing demand 364,386 367,103
Money market and checking 583,315 613,613
Savings 154,000 152,381
Certificates of deposit 191,823 183,154
Total deposits 1,293,524 1,316,251
Federal Home Loan Bank and other borrowings 74,716 64,662
Subordinated debentures 21,651 21,651
Repurchase agreements 15,895 12,714
Accrued interest and other liabilities 20,760 19,480
Total liabilities 1,426,546 1,434,758
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued
Common stock, $0.01 par value per share, 7,500,000 shares authorized; 5,486,407 and 5,481,407 shares issued at March 31, 2024 and December 31, 2023, respectively 55 55
Additional paid-in capital 89,364 89,208
Retained earnings 55,912 54,282
Treasury stock, at cost; 12,540 and 3,812 shares at March 31, 2024 and December 31, 2023, respectively (249) (75)
Accumulated other comprehensive loss (18,411) (16,556)
Total stockholders’ equity 126,671 126,914
Total liabilities and stockholders’ equity $ 1,553,217 $ 1,561,672