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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from depository institutions $ 14,430 $ 18,830
Interest bearing deposits and short-term investments 3,598 4,132
Cash and cash equivalents 18,028 22,962
Investment securities, net of allowance for credit losses:    
Available for sale, at fair value (allowance for credit losses $926 on September 30, 2023) 169,052 179,508
Held to maturity (fair value $52,391 on September 30, 2023 and $55,192 on December 31, 2022; allowance for credit losses $32 on September 30, 2023) 60,283 61,878
Loans held for sale   59
Loans (net of unearned income $401 on September 30, 2023 and $343 on December 31, 2022) 1,002,306 990,766
Less: Allowance for credit losses 12,313 10,743
Net loans 989,993 980,023
Premises and equipment:    
Operating lease right-of-use asset 583 630
Financing lease right-of-use asset 2,353 2,413
Other premises and equipment, net 14,190 14,460
Accrued interest income receivable 5,650 4,804
Goodwill 13,611 13,611
Core deposit intangible 107 128
Bank owned life insurance 39,429 38,895
Net deferred tax asset 4,855 2,789
Federal Home Loan Bank stock 4,922 5,754
Federal Reserve Bank stock 2,125 2,125
Other assets 36,608 33,835
TOTAL ASSETS 1,361,789 1,363,874
LIABILITIES    
Non-interest bearing deposits 178,458 195,123
Interest bearing deposits 950,832 913,414
Total deposits 1,129,290 1,108,537
Short-term borrowings 63,451 88,641
Advances from Federal Home Loan Bank 22,117 19,765
Operating lease liabilities 595 643
Financing lease liabilities 2,656 2,680
Subordinated debt 26,675 26,644
Total borrowed funds 115,494 138,373
Other liabilities 15,679 10,786
TOTAL LIABILITIES 1,260,463 1,257,696
SHAREHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,776,089 shares issued and 17,147,270 shares outstanding on September 30, 2023; 26,746,436 shares issued and 17,117,617 shares outstanding on December 31, 2022 268 267
Treasury stock at cost, 9,628,819 shares on September 30, 2023 and December 31, 2022 (83,280) (83,280)
Capital surplus 146,354 146,225
Retained earnings 64,738 65,486
Accumulated other comprehensive loss, net (26,754) (22,520)
TOTAL SHAREHOLDERS' EQUITY 101,326 106,178
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,361,789 $ 1,363,874