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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Noninterest-bearing cash equivalents $ 14,516 $ 13,089
Interest-bearing deposits with other institutions 167,141 67,101
Cash and cash equivalents 181,657 80,190
Securities available for sale, at fair value 140,121 115,490
Securities held to maturity (Fair value of $33,208 and $34,236, respectively) 35,845 36,735
Less: Allowance for credit losses - securities (502) (512)
Securities held to maturity, net 35,343 36,223
Loans receivable 2,193,197 2,128,284
Less: Allowance for credit losses - loans (26,288) (23,767)
Net loans 2,166,909 2,104,517
Investments in restricted bank stock 4,928 3,965
Premises and equipment, net 18,364 20,130
Right-to-Use Asset - Premises 13,970 15,497
Bank-owned life insurance 49,616 48,847
Goodwill 58,806 56,968
Other intangible assets, net 23,323 25,733
Deferred tax asset 22,024 24,153
Assets held for sale 118,362 115,499
Accrued interest receivable and other assets 25,170 22,113
TOTAL ASSETS 2,858,593 2,669,325
Deposits:    
Total deposits 2,360,512 2,198,799
Long-term borrowings 40,000 0
Short-term borrowings 0 10,000
Note payable 578 590
Subordinated debt 61,706 61,444
Lease liabilities 14,746 16,361
Allowance for credit losses - unfunded commitments 1,969 2,189
Liabilities held for sale 96,916 99,777
Accrued interest payable and other liabilities 10,757 14,369
TOTAL LIABILITIES 2,587,184 2,403,529
COMMITMENTS AND CONTINGENT LIABILITIES (Note 11)
SHAREHOLDERS' EQUITY    
Preferred stock (At June 30, 2024 and December 31, 2023: no par value; 5,000,000 shares authorized; no shares issued and outstanding.)
Common stock (At June 30, 2024 and December 31, 2023: $0.01 par value; 50,000,000 shares authorized; 37,356,278 and 37,340,700 shares issued and outstanding, respectively.) 370 369
Surplus 263,795 263,310
Retained earnings 10,826 4,843
Accumulated other comprehensive loss (3,582) (3,209)
Total equity attributable to parent 271,409 265,313
Noncontrolling interest in consolidated subsidiary   483
TOTAL SHAREHOLDERS' EQUITY 271,409 265,796
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 2,858,593 2,669,325
Demand, noninterest bearing    
Deposits:    
Total deposits 661,292 624,780
Interest bearing    
Deposits:    
Total deposits $ 1,699,220 $ 1,574,019