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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 22,692 $ 25,613
Federal funds sold 86,515 49,225
Total cash and cash equivalents 109,207 74,838
Securities held-to-maturity, at amortized cost (fair value of $3,328 as of September 30, 2024 and $3,231 as of December 31, 2023) net of allowance for credit loss of $0 as of September 30, 2024 and December 31, 2023 3,610 3,622
Securities available-for-sale, at fair value 192,469 216,510
Restricted stock, at cost 1,821 1,541
Loans held for sale 3,239 1,258
Loans, net of allowance for credit losses of $7,078 as of September 30, 2024 and $7,412 as of December 31, 2023 627,112 601,921
Premises and equipment, net 19,378 18,141
Interest receivable 2,697 2,835
Cash value - bank owned life insurance 22,716 21,586
Customer relationship intangibles 6,865 7,285
Goodwill 2,054 2,054
Other assets 16,895 17,780
Total assets 1,008,063 969,371
Deposits    
Noninterest bearing demand 132,223 134,275
NOW, money market and savings 540,966 538,229
Time deposits 234,421 205,955
Total deposits 907,610 878,459
Capital notes, net 10,046 10,042
Other borrowings 9,444 9,890
Interest payable 758 480
Other liabilities 11,371 10,461
Total liabilities 939,229 909,332
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 September 30, 2024 and December 31, 2023 9,723 9,723
Additional paid-in-capital 35,253 35,253
Retained earnings 41,640 36,678
Accumulated other comprehensive loss (17,782) (21,615)
Total stockholders’ equity 68,834 60,039
Total liabilities and stockholders’ equity $ 1,008,063 $ 969,371