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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 10,633 $ 12,987
Interest-bearing deposits in banks 36,583 37,292
Total cash and cash equivalents 47,216 50,279
Federal funds sold and securities purchased under reverse repurchase agreements 5,727 9,475
Investment securities available-for-sale, at fair value (amortized cost $174,597 and $144,893; net of allowance for credit losses of $- and $-) 167,888 135,565
Investment securities held-to-maturity, at amortized cost, net of allowance for credit losses of $- and $-, (fair value 2024 - $642, 2023 - $1,041) 682 1,104
Federal Home Loan Bank stock, at cost 1,256 1,201
Loans and leases held for investment 823,039 821,791
Less allowance for credit losses on loans and leases 10,184 10,507
Net loans and leases held for investment [1] 812,855 811,284
Premises and equipment, net of accumulated depreciation 24,803 24,398
Cash surrender value of bank-owned life insurance 17,056 16,702
Accrued interest receivable 3,588 3,976
Goodwill and core deposit intangible, net 7,484 7,606
Other real estate owned 1,509 602
Other assets 11,022 10,748
Total assets 1,101,086 1,072,940
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Non-interest-bearing 155,945 153,591
Interest-bearing 816,612 796,600
Total deposits 972,557 950,191
Accrued interest expense 1,751 2,030
Other liabilities 7,282 9,327
Short-term borrowings 10,000 10,000
Long-term borrowings 10,872 10,799
Total liabilities 1,002,462 982,347
Shareholders’ equity:    
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,840,348 and 7,738,201 shares issued, respectively; 5,696,171 and 5,735,075 shares outstanding, respectively 78 75
Additional paid-in capital 15,540 14,972
Accumulated other comprehensive loss, net of tax (4,344) (6,431)
Retained earnings 116,865 109,959
Less treasury stock: 2,144,177 and 2,003,126 shares at cost, respectively (29,515) (27,982)
Total shareholders’ equity 98,624 90,593
Total liabilities and shareholders’ equity $ 1,101,086 $ 1,072,940
[1] Loans are presented net of unearned income and unamortized deferred fees and costs of $0.8 million as of both December 31, 2024 and 2023. In addition, loans are also presented net of unamortized premiums associated with Indirect loans of $10.6 million and $10.2 million as of December 31, 2024 and 2023, respectively.