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Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 10,867 $ 12,987
Interest-bearing deposits in banks 71,442 37,292
Total cash and cash equivalents 82,309 50,279
Federal funds sold and securities purchased under reverse repurchase agreements 15,524 9,475
Investment securities available-for-sale, at fair value 144,275 135,565
Investment securities held-to-maturity, at amortized cost 769 1,104
Federal Home Loan Bank stock, at cost 781 1,201
Loans and leases held for investment 803,308 821,791
Less allowance for credit losses on loans and leases 10,116 10,507
Net loans and leases held for investment 793,192 811,284
Premises and equipment, net of accumulated depreciation 25,042 24,398
Cash surrender value of bank-owned life insurance 16,966 16,702
Accrued interest receivable 3,668 3,976
Goodwill and core deposit intangible, net 7,502 7,606
Other real estate owned 538 602
Other assets 9,669 10,748
Total assets 1,100,235 1,072,940
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Non-interest-bearing 155,024 153,591
Interest-bearing 826,125 796,600
Total deposits 981,149 950,191
Accrued interest expense 2,030 2,030
Other liabilities 7,711 9,327
Short-term borrowings   10,000
Long-term borrowings 10,854 10,799
Total liabilities 1,001,744 982,347
Shareholders’ equity:    
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,819,565 and 7,738,201 shares issued, respectively; 5,715,388 and 5,735,075 shares outstanding, respectively 78 75
Additional paid-in capital 15,349 14,972
Accumulated other comprehensive loss, net of tax (3,479) (6,431)
Retained earnings 115,551 109,959
Less treasury stock: 2,104,177 and 2,003,126 shares at cost, respectively (29,008) (27,982)
Total shareholders’ equity 98,491 90,593
Total liabilities and shareholders’ equity $ 1,100,235 $ 1,072,940