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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from depository institutions $ 15,458 $ 9,678
Interest bearing deposits and short-term investments 2,925 4,349
Cash and cash equivalents 18,383 14,027
Investment securities, net of allowance for credit losses:    
Available for sale, at fair value (allowance for credit losses $360 on June 30, 2024 and $926 on December 31, 2023) 163,979 165,711
Held to maturity (fair value $60,763 on June 30, 2024 and $58,621 on December 31, 2023; allowance for credit losses $100 on June 30, 2024 and $37 on December 31, 2023) 66,446 63,979
Loans held for sale 225 130
Loans (net of unearned income $513 on June 30, 2024 and $483 on December 31, 2023) 1,039,033 1,038,271
Less: Allowance for credit losses 14,611 15,053
Net loans 1,024,422 1,023,218
Premises and equipment:    
Operating lease right-of-use asset 1,640 646
Financing lease right-of-use asset 2,444 2,384
Other premises and equipment, net 14,487 14,149
Accrued interest income receivable 5,797 5,529
Intangible assets:    
Goodwill 13,611 13,611
Core deposit intangible 88 101
Bank owned life insurance 39,653 39,560
Net deferred tax asset 1,701 2,679
Federal Home Loan Bank stock 5,290 5,210
Federal Reserve Bank stock 2,125 2,125
Other real estate owned and repossessed assets 1,803 15
Other assets 41,344 36,564
TOTAL ASSETS 1,403,438 1,389,638
LIABILITIES    
Non-interest bearing deposits 176,183 172,070
Interest bearing deposits 994,176 986,290
Total deposits 1,170,359 1,158,360
Short-term borrowings 34,583 40,951
Advances from Federal Home Loan Bank 50,912 44,562
Operating lease liabilities 1,658 658
Financing lease liabilities 2,776 2,700
Subordinated debt 26,706 26,685
Total borrowed funds 116,635 115,556
Other liabilities 12,783 13,445
TOTAL LIABILITIES 1,299,777 1,287,361
SHAREHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,776,089 shares issued and 16,519,267 shares outstanding on June 30, 2024 and 26,776,089 shares issued and 17,147,270 shares outstanding on December 31, 2023 268 268
Treasury stock at cost, 10,256,822 shares on June 30, 2024 and 9,628,819 shares on December 31, 2023 (84,791) (83,280)
Capital surplus 146,372 146,364
Retained earnings 59,401 58,901
Accumulated other comprehensive loss, net (17,589) (19,976)
TOTAL SHAREHOLDERS' EQUITY 103,661 102,277
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,403,438 $ 1,389,638