v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Assets      
Cash and cash equivalents $ 27,360,000 $ 27,636,000 $ 27,816,000
Interest bearing deposits in other banks 3,253,000 22,100,000 33,133,000
Securities available for sale 278,248,000 274,680,000 273,501,000
Securities held-to-maturity (net of ACL), fair value of $312,508,000 at June 30, 2025, $314,993,000 at December 31, 2024 and $321,616,000 at June 30, 2024 367,873,000 369,704,000 377,522,000
Restricted equity securities, at cost 7,734,000 7,203,000 7,110,000
Loans 2,394,007,000 2,340,940,000 2,247,670,000
Less allowance for credit losses 24,829,000 24,871,000 24,693,000
Net loans 2,369,178,000 2,316,069,000 2,222,977,000
Accrued interest receivable 19,386,000 13,976,000 17,760,000
Premises and equipment, net 28,198,000 27,855,000 27,929,000
Other real estate owned 0 173,000 208,000
Goodwill 30,646,000 30,646,000 30,646,000
Other assets 67,634,000 66,968,000 66,342,000
Total assets 3,199,510,000 3,157,010,000 3,084,944,000
Liabilities      
Demand deposits 291,150,000 292,255,000 270,858,000
NOW deposits 590,536,000 676,107,000 609,878,000
Money market deposits 388,214,000 376,627,000 317,133,000
Savings deposits 256,584,000 265,451,000 268,472,000
Certificates of deposit 1,178,853,000 1,114,811,000 1,111,739,000
Total deposits 2,705,337,000 2,725,251,000 2,578,080,000
Borrowed funds – short term 101,170,000 51,278,000 160,620,000
Borrowed funds – long term 95,000,000 95,000,000 70,000,000
Other liabilities 32,511,000 32,988,000 31,576,000
Total liabilities 2,934,018,000 2,904,517,000 2,840,276,000
Shareholders' equity      
Common stock, one cent par value per share 112,000 112,000 111,000
Additional paid-in capital 72,795,000 71,832,000 70,942,000
Retained earnings 229,511,000 222,823,000 215,999,000
Accumulated other comprehensive income (loss)      
Net unrealized loss on securities available-for-sale (37,237,000) (42,671,000) (43,369,000)
Net unrealized loss on securities transferred from available-for-sale to held-to-maturity (60,000) (47,000) (51,000)
Net unrealized gain on cash flow hedging derivative instruments 84,000 157,000 733,000
Net unrealized gain on postretirement costs 287,000 287,000 303,000
Total shareholders' equity 265,492,000 252,493,000 244,668,000
Total liabilities & shareholders' equity $ 3,199,510,000 $ 3,157,010,000 $ 3,084,944,000
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 11,205,861 11,155,528 11,139,639
Number of shares outstanding (in shares) 11,205,861 11,155,528 11,139,639
Book value per common share (usd per share) $ 23.69 $ 22.63 $ 21.96
Tangible book value per common share (usd per share) $ 20.94 $ 19.87 $ 19.20