XML 11 R2.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash due from banks $ 36,637 $ 26,980
Federal funds sold and interest-bearing balances in banks 213,562 149,835
Cash and cash equivalents 250,199 176,815
Time deposits in banks 1,992 2,241
Investment securities available-for-sale ("AFS"), at fair value, net of allowance for credit losses of $0 at both June 30, 2023 and December 31, 2022 146,506 154,004
Equity securities 11,912 13,757
Federal Home Loan Bank ("FHLB") stock, at par 11,313 10,679
Federal Reserve Bank ("FRB") stock, at par 9,616 9,602
Loans held for sale   2,380
Loans, net of allowance for credit losses of $19,100 at June 30, 2023 and $18,900 at December 31, 2022 1,994,207  
Loans, net of allowance for credit losses of $19,100 at June 30, 2023 and $18,900 at December 31, 2022   2,002,224
Premises and equipment, net 13,039 13,278
Other real estate owned ("OREO")   21
Core deposit intangible, net 4,527 5,201
Cash surrender value of bank owned life insurance ("BOLI") policies, net 22,528 22,193
Right-of-use assets ("ROU"), net 15,270 16,569
Goodwill 38,838 38,838
Interest receivable and other assets 47,539 45,532
Total assets 2,567,486 2,513,334
LIABILITIES AND SHAREHOLDERS' EQUITY    
Noninterest and interest bearing deposits 2,147,066 2,085,479
Junior subordinated deferrable interest debentures, net 8,524 8,484
Subordinated debt, net 63,796 63,711
Salary continuation plan 4,955 4,840
Lease liabilities 15,947 17,138
Interest payable and other liabilities 20,184 16,533
Total liabilities 2,260,472 2,196,185
Commitments and contingencies (Note 18)
Shareholders' equity    
Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding at both June 30, 2023 and December 31, 2022
Common stock, no par value; 100,000,000 shares authorized; 11,900,022 and 12,838,462 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 187,579 204,301
Additional paid in capital 287 287
Accumulated other comprehensive loss, net of tax (16,420) (11,561)
Retained earnings 135,568 124,122
Total shareholders' equity 307,014 317,149
Total liabilities and shareholders' equity $ 2,567,486 $ 2,513,334