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Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 10,311 $ 11,844
Interest-bearing deposits in banks 55,818 18,308
Total cash and cash equivalents 66,129 30,152
Federal funds sold 1,143 1,768
Investment securities available-for-sale, at fair value 126,551 130,795
Investment securities held-to-maturity, at amortized cost 1,272 1,862
Federal Home Loan Bank stock, at cost 2,151 1,359
Loans and leases held for investment 815,300 773,873
Less allowance for credit losses 11,380 9,422
Net loans and leases held for investment 803,920 764,451
Premises and equipment, net of accumulated depreciation 24,259 24,439
Cash surrender value of bank-owned life insurance 16,622 16,399
Accrued interest receivable 3,522 3,011
Goodwill and core deposit intangible, net 7,642 7,801
Other real estate owned 617 686
Other assets 11,411 11,944
Total assets 1,065,239 994,667
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Non-interest-bearing 157,652 169,822
Interest-bearing 769,386 700,203
Total deposits 927,038 870,025
Accrued interest expense 1,864 607
Other liabilities 8,148 8,136
Short-term borrowings 30,000 20,038
Long-term borrowings 10,781 10,726
Total liabilities 977,831 909,532
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; 5,874,781 and 5,812,258 shares outstanding, respectively 75 75
Additional paid-in capital 14,824 14,510
Accumulated other comprehensive loss, net of tax (8,907) (7,241)
Retained earnings 107,976 104,460
Less treasury stock: 1,863,375 and 1,868,598 shares at cost, respectively (26,560) (26,669)
Total shareholders’ equity 87,408 85,135
Total liabilities and shareholders’ equity $ 1,065,239 $ 994,667