v3.25.2
Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 9,380 $ 10,633
Interest-bearing deposits in banks 44,575 36,583
Total cash and cash equivalents 53,955 47,216
Federal funds sold and securities purchased under reverse repurchase agreements 4,850 5,727
Investment securities available-for-sale, at fair value (amortized cost $159,563 and $174,597; net of allowance for credit losses of $- and $-) 156,576 167,888
Investment securities held-to-maturity, at amortized cost, net of allowance for credit losses of $- and $-, (fair value 2025 - $535, 2024 - $642) 561 682
Federal Home Loan Bank stock, at cost 1,741 1,256
Loans and leases held for investment 871,431 823,039
Less: allowance for credit losses on loans and leases 11,388 10,184
Net loans and leases held for investment [1] 860,043 812,855
Premises and equipment, net of accumulated depreciation 26,479 24,803
Cash surrender value of bank-owned life insurance 17,198 17,056
Accrued interest receivable 3,867 3,588
Goodwill and core deposit intangible, net 7,447 7,484
Other real estate owned 1,298 1,509
Other assets 9,364 11,022
Total assets 1,143,379 1,101,086
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Non-interest-bearing 150,894 155,945
Interest-bearing 835,952 816,612
Total deposits 986,846 972,557
Accrued interest expense 1,981 1,751
Other liabilities 6,751 7,282
Short-term borrowings 35,000 10,000
Long-term borrowings 10,909 10,872
Total liabilities 1,041,487 1,002,462
Shareholders’ equity:    
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,920,149 and 7,840,348 shares issued, respectively; 5,755,064 and 5,696,17 shares outstanding, respectively 79 78
Additional paid-in capital 15,619 15,540
Accumulated other comprehensive loss, net of tax (2,065) (4,344)
Retained earnings 117,988 116,865
Less treasury stock: 2,165,085 and 2,144,177 shares at cost, respectively (29,729) (29,515)
Total shareholders’ equity 101,892 98,624
Total liabilities and shareholders’ equity $ 1,143,379 $ 1,101,086
[1] Loans are presented net of unearned income and unamortized deferred fees and costs of $0.7 million and $0.8 million as of June 30, 2025 and December 31, 2024, respectively. Loans are also presented net of unamortized premiums associated with indirect loans of $15.1 million and $10.6 million as of June 30, 2025 and December 31, 2024, respectively.