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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
[1]
ASSETS    
Cash and due from banks $ 23,706 $ 21,834
Interest bearing deposits with other banks 31,950 30,398
Cash and cash equivalents 55,656 52,232
Debt securities available for sale (at fair value) 490,271 502,762
Debt securities held to maturity (at amortized cost; estimated fair value - $87,029 - 2024, $88,319 - 2023) 93,737 94,227
Less: allowance for credit losses 0 0
Debt securities held to maturity, net 93,737 94,227
Equity investments (at fair value) 11,571 10,958
Other investments 21,842 21,130
Loans, net of unearned fees 3,697,042 3,681,612
Less: allowance for credit losses (49,232) (48,090)
Loans, net 3,647,810 3,633,522
Property held for sale 3,432 3,729
Premises and equipment, net 62,293 63,038
Accrued interest and fees receivable 20,238 20,004
Goodwill and other intangible assets, net 73,443 74,430
Cash surrender value of life insurance policies and annuities 86,230 85,679
Derivative financial instruments 36,803 33,145
Other assets 39,558 39,466
Total assets 4,642,884 4,634,322
Deposits    
Non-interest bearing 605,509 593,576
Interest bearing 3,142,906 3,121,572
Total deposits 3,748,415 3,715,148
Short-term borrowings 262,359 302,957
Long-term borrowings 630 637
Subordinated debentures, net 103,904 103,782
Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589
Other liabilities 53,706 52,001
Total liabilities 4,188,603 4,194,114
Commitments and Contingencies
Shareholders' Equity    
Preferred stock and related surplus, $1.00 par value, authorized 250,000 shares; issued: 2024 and 2023 - 1,500 shares 14,920 14,920
Common stock and related surplus, $2.50 par value; authorized 20,000,000 shares; issued and outstanding: 2024 - 14,686,738 shares and 2023 - 14,683,457 shares 130,235 129,990
Retained earnings 316,375 302,783
Accumulated other comprehensive loss (7,249) (7,485)
Total shareholders' equity 454,281 440,208
Total liabilities and shareholders' equity $ 4,642,884 $ 4,634,322
[1] Derived from audited consolidated financial statements.