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Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 18,557 $ 12,987
Interest-bearing deposits in banks 41,685 37,292
Total cash and cash equivalents 60,242 50,279
Federal funds sold 5,532 9,475
Investment securities available-for-sale, at fair value 125,380 135,565
Investment securities held-to-maturity, at amortized cost 983 1,104
Federal Home Loan Bank stock, at cost 1,494 1,201
Loans and leases held for investment 822,941 821,791
Less allowance for credit losses on loans and leases 10,436 10,507
Net loans and leases held for investment 812,505 811,284
Premises and equipment, net of accumulated depreciation 25,041 24,398
Cash surrender value of bank-owned life insurance 16,788 16,702
Accrued interest receivable 4,148 3,976
Goodwill and core deposit intangible, net 7,569 7,606
Other real estate owned 572 602
Other assets 10,287 10,748
Total assets 1,070,541 1,072,940
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Non-interest-bearing 142,944 153,591
Interest-bearing 800,324 796,600
Total deposits 943,268 950,191
Accrued interest expense 1,714 2,030
Other liabilities 7,416 9,327
Short-term borrowings 15,000 10,000
Long-term borrowings 10,817 10,799
Total liabilities 978,215 982,347
Shareholders’ equity:    
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,794,911 and 7,738,201 shares issued, respectively; 5,787,441 and 5,735,075 shares outstanding, respectively 75 75
Additional paid-in capital 15,122 14,972
Accumulated other comprehensive loss, net of tax (6,621) (6,431)
Retained earnings 111,777 109,959
Less treasury stock: 2,007,470 and 2,003,126 shares at cost, respectively (28,027) (27,982)
Total shareholders’ equity 92,326 90,593
Total liabilities and shareholders’ equity $ 1,070,541 $ 1,072,940