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Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 11,970 $ 11,844
Interest-bearing deposits in banks 56,457 18,308
Total cash and cash equivalents 68,427 30,152
Federal funds sold 263 1,768
Investment securities available-for-sale, at fair value 127,007 130,795
Investment securities held-to-maturity, at amortized cost 1,682 1,862
Federal Home Loan Bank stock, at cost 1,590 1,359
Loans and leases held for investment 775,889 773,873
Less allowance for credit losses 11,599 9,422
Net loans and leases held for investment 764,290 764,451
Premises and equipment, net of accumulated depreciation 24,290 24,439
Cash surrender value of bank-owned life insurance 16,472 16,399
Accrued interest receivable 2,898 3,011
Goodwill and core deposit intangible, net 7,746 7,801
Other real estate owned 617 686
Other assets 11,376 11,944
Total assets 1,026,658 994,667
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Non-interest-bearing 154,661 169,822
Interest-bearing 743,224 700,203
Total deposits 897,885 870,025
Accrued interest expense 841 607
Other liabilities 7,431 8,136
Short-term borrowings 25,000 20,038
Long-term borrowings 10,744 10,726
Total liabilities 941,901 909,532
Shareholders’ equity:    
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,738,156 and 7,680,856 shares issued, respectively; 5,866,866 and 5,812,258 shares outstanding, respectively 75 75
Additional paid-in capital 14,663 14,510
Accumulated other comprehensive loss, net of tax (7,714) (7,241)
Retained earnings 104,427 104,460
Less treasury stock: 1,871,290 and 1,868,598 shares at cost, respectively (26,694) (26,669)
Total shareholders’ equity 84,757 85,135
Total liabilities and shareholders’ equity $ 1,026,658 $ 994,667