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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and due from depository institutions $ 9,678 $ 18,830
Interest bearing deposits and short-term investments 4,349 4,132
Cash and cash equivalents 14,027 22,962
Investment securities, net of allowance for credit losses:    
Available for sale, at fair value (allowance for credit losses $926 on December 31, 2023) 165,711 179,508
Held to maturity (fair value $58,621 on December 31, 2023 and $55,192 on December 31, 2022; allowance for credit losses $37 on December 31, 2023) 63,979 61,878
Loans held for sale 130 59
Loans (net of unearned income $483 on December 31, 2023 and $343 on December 31, 2022) 1,038,271 990,766
Less: Allowance for credit losses 15,053 10,743
Net loans 1,023,218 980,023
Premises and equipment:    
Operating lease right-of-use asset 646 630
Financing lease right-of-use asset 2,384 2,413
Other premises and equipment, net 14,149 14,460
Accrued interest income receivable 5,529 4,804
Intangible assets:    
Goodwill 13,611 13,611
Core deposit intangible 101 128
Bank owned life insurance 39,560 38,895
Net deferred tax asset 2,679 2,789
Federal Home Loan Bank stock 5,210 5,754
Federal Reserve Bank stock 2,125 2,125
Other assets 36,579 33,835
TOTAL ASSETS 1,389,638 1,363,874
LIABILITIES    
Non-interest bearing deposits 172,070 195,123
Interest bearing deposits 986,290 913,414
Total deposits 1,158,360 1,108,537
Short-term borrowings 40,951 88,641
Advances from Federal Home Loan Bank 44,562 19,765
Operating lease liabilities 658 643
Financing lease liabilities 2,700 2,680
Subordinated debt 26,685 26,644
Total borrowed funds 115,556 138,373
Other liabilities 13,445 10,786
TOTAL LIABILITIES 1,287,361 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 December 31, 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 December 31, 2023 and December 31, 2022 (83,280) (83,280)
Capital surplus 146,364 146,225
Retained earnings 58,901 65,486
Accumulated other comprehensive loss, net (19,976) (22,520)
TOTAL SHAREHOLDERS' EQUITY 102,277 106,178
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,389,638 $ 1,363,874