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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from depository institutions $ 17,239 $ 9,678
Interest bearing deposits and short-term investments 4,877 4,349
Cash and cash equivalents 22,116 14,027
Investment securities, net of allowance for credit losses:    
Available for sale, at fair value (allowance for credit losses $360 on September 30, 2024 and $926 on December 31, 2023) 164,591 165,711
Held to maturity (fair value $61,890 on September 30, 2024 and $58,621 on December 31, 2023; allowance for credit losses $88 on September 30, 2024 and $37 on December 31, 2023) 65,451 63,979
Loans held for sale 783 130
Loans (net of unearned income $496 on September 30, 2024 and $483 on December 31, 2023) 1,039,638 1,038,271
Less: Allowance for credit losses 14,420 15,053
Net loans 1,025,218 1,023,218
Premises and equipment:    
Operating lease right-of-use asset 1,595 646
Financing lease right-of-use asset 2,388 2,384
Other premises and equipment, net 14,921 14,149
Accrued interest income receivable 5,827 5,529
Intangible assets:    
Goodwill 13,611 13,611
Core deposit intangible 82 101
Bank owned life insurance 39,787 39,560
Net deferred tax asset 1,203 2,679
Federal Home Loan Bank stock 4,402 5,210
Federal Reserve Bank stock 2,125 2,125
Other real estate owned and repossessed assets 1,850 15
Other assets 39,237 36,564
TOTAL ASSETS 1,405,187 1,389,638
LIABILITIES    
Non-interest bearing deposits 171,578 172,070
Interest bearing deposits 1,017,752 986,290
Total deposits 1,189,330 1,158,360
Short-term borrowings 11,760 40,951
Advances from Federal Home Loan Bank 54,552 44,562
Operating lease liabilities 1,615 658
Financing lease liabilities 2,735 2,700
Subordinated debt 26,716 26,685
Total borrowed funds 97,378 115,556
Other liabilities 10,297 13,445
TOTAL LIABILITIES 1,297,005 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 September 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 September 30, 2024 and 9,628,819 shares on December 31, 2023 (84,791) (83,280)
Capital surplus 146,372 146,364
Retained earnings 60,089 58,901
Accumulated other comprehensive loss, net (13,756) (19,976)
TOTAL SHAREHOLDERS' EQUITY 108,182 102,277
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,405,187 $ 1,389,638