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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Cash and cash equivalents:    
Cash and due from banks $ 8,136 $ 7,284
Interest-bearing deposits in other financial institutions 249,753 247,158
Total cash and cash equivalents 257,889 254,442
Held-to-maturity securities, net of allowance for credit losses of $71 and $71, (fair value of $64,908 and $66,617), respectively 72,303 74,102
Correspondent bank stock, at cost 4,461 7,155
Mortgage loans held for sale, at fair value 10,470 7,254
Total 2,475,524 2,530,915
Allowance for credit losses (24,630) (23,931)
Total, net 2,450,894 2,506,984
Premises and equipment, net 24,869 25,256
Accrued interest receivable 11,919 11,428
Accounts receivable 4,980 5,095
Other receivables 5,254 4,467
Goodwill and other intangible assets, net 31,797 31,854
Deferred tax assets, net 5,695 6,407
Company-owned life insurance 16,635 16,530
Other assets 35,051 24,488
Total assets 2,932,217 2,975,462
Deposits:    
Noninterest-bearing 434,236 482,579
Interest-bearing 2,097,734 2,046,460
Total deposits 2,531,970 2,529,039
Borrowings:    
Federal Home Loan Bank and Federal Reserve borrowings 69,484 125,711
Subordinated notes 52,397 52,340
Accrued interest payable 2,415 3,793
Other liabilities 30,423 21,841
Total liabilities 2,686,689 2,732,724
Shareholders' Equity    
Preferred stock - no par value; 10,000,000 shares authorized; 0 issued and outstanding 0 0
Common stock - no par value; 90,000,000 shares authorized; 9,621,309 and 9,581,183 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 0 0
Additional paid-in capital 192,724 192,894
Retained earnings 53,557 51,042
Accumulated other comprehensive loss (753) (1,198)
Total shareholders’ equity 245,528 242,738
Total liabilities and shareholders’ equity $ 2,932,217 $ 2,975,462