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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 25,428 $ 25,613
Federal funds sold 62,644 49,225
Total cash and cash equivalents 88,072 74,838
Securities held-to-maturity, at amortized cost (fair value of $3,194 as of March 31, 2024 and $3,231 as of December 31, 2023) net of allowance for credit loss of $0 as of March 31, 2024 and December 31, 2023 3,618 3,622
Securities available-for-sale, at fair value 214,822 216,510
Restricted stock, at cost 1,541 1,541
Loans held for sale 4,640 1,258
Loans, net of allowance for credit losses of $6,920 as of March 31, 2024 and $7,412 as of December 31, 2023 601,115 601,921
Premises and equipment, net 18,276 18,141
Interest receivable 2,936 2,835
Cash value - bank owned life insurance 22,344 21,586
Customer relationship intangibles 7,145 7,285
Goodwill 2,054 2,054
Other assets 18,328 17,780
Total assets 984,891 969,371
Deposits    
Noninterest bearing demand 143,619 134,275
NOW, money market and savings 530,484 538,229
Time deposits 219,391 205,955
Total deposits 893,494 878,459
Capital notes, net 10,044 10,042
Other borrowings 9,741 9,890
Interest payable 522 480
Other liabilities 10,653 10,461
Total liabilities 924,454 909,332
Commitments and Contingencies
Stockholders’ equity    
Preferred stock; authorized 1,000,000 shares; none issued and outstanding
Common stock $2.14 par value; authorized 10,000,000 shares; issued and outstanding 4,543,338 as of March 31, 2024 and December 31, 2023 9,723 9,723
Additional paid-in-capital 35,253 35,253
Retained earnings 38,412 36,678
Accumulated other comprehensive loss (22,951) (21,615)
Total stockholders’ equity 60,437 60,039
Total liabilities and stockholders’ equity $ 984,891 $ 969,371