XML 11 R2.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 11,905 $ 11,511
Federal funds sold 2,290 2,140
Interest-bearing deposits with banks 13,297 11,822
Securities available for sale ("AFS"), at fair value 463,949 462,746
Equity securities carried at fair value through income 4,380 4,286
Non-marketable equity securities held in other financial institutions 207 207
Federal Home Loan Bank ("FHLB") stock - at cost 2,181 4,584
Net loans 1,820,806 1,798,517
Goodwill 10,835 10,835
Premises and equipment, net 20,987 21,308
Accrued interest receivable 8,526 8,335
Investment in bank owned life insurance 40,019 39,802
Core deposit intangible 550 634
Net deferred tax assets 21,914 24,657
Right of use assets - operating leases 5,817 5,920
Other assets 873 2,713
Total Assets 2,428,536 2,410,017
Deposits    
Non-interest-bearing deposits 599,763 630,120
Interest-bearing deposits 1,554,560 1,458,343
Total deposits 2,154,323 2,088,463
Short-term borrowings 21,500 79,000
Guaranteed preferred beneficial interest in junior subordinated debentures ("TRUPs") 12,000 12,000
Subordinated notes net of debt issuance costs - 4.75% 19,580 19,566
Lease liabilities - operating leases 6,114 6,202
Accrued expenses and other liabilities 16,213 17,775
Total Liabilities 2,229,730 2,223,006
Stockholders’ Equity    
Common stock - par value $0.01; authorized - 15,000,000 shares; issued 5,666,904 and 5,648,435 shares, respectively 57 56
Additional paid in capital 98,246 97,986
Retained earnings 138,573 132,235
Accumulated other comprehensive losses (37,896) (43,092)
Unearned ESOP shares (174) (174)
Total Stockholders’ Equity 198,806 187,011
Total Liabilities and Stockholders’ Equity 2,428,536 2,410,017
U.S. SBA PPP    
Assets    
Net U.S. Small Business Administration ("SBA") Paycheck Protection Program ("PPP") Loans 0 339
Portfolio Loans    
Assets    
Net loans $ 1,820,806 $ 1,798,178