Page 5 - Demo

CONSOLIDATED BALANCE SHEETS | 3December 31, 2024 (unaudited) and 2023(dollars in thousands)2024 2023ASSETSCash and due from banks $ 34,548 $ 91,733 Federal funds sold %u2014 2,424 CASH AND CASH EQUIVALENTS 34,548 94,157 Debt securities available for sale 179,502 189,985 Loans, net of allowance for credit losses of $9,480and $8,765 at December 31, 2024 and 2023, respectively 709,837 636,511 Federal Reserve and Federal Home Loan Bank stock 1,395 1,186 Premises and equipment, net 15,698 14,722 Right-of-use assets 976 1,326 Accrued interest receivable 4,404 3,722 Goodwill 2,619 2,619 Deferred tax asset 6,973 6,333 Other assets 11,166 8,278 TOTAL ASSETS $ 967,118 $ 958,839 LIABILITIES AND STOCKHOLDERS%u2019 EQUITYLiabilitiesDepositsDemand $ 180,092 $ 176,729 Savings, NOW and money market 604,882 634,742 Time 93,744 65,877 TOTAL DEPOSITS 878,718 877,348 Operating lease liabilities 962 1,327 Other liabilities 8,946 7,700 TOTAL LIABILITIES 888,626 886,375 Stockholders%u2019 EquityCommon stock, $0.40 par value; 2,500,000 shares authorized, 858,218 (2024) and 865,603 (2023) shares issued and outstanding 343 346 Additional paid-in capital 4,436 4,466 Retained earnings 90,124 81,853 Accumulated other comprehensive loss (16,411) (14,201)TOTAL STOCKHOLDERS%u2019 EQUITY 78,492 72,464 TOTAL LIABILITIES AND STOCKHOLDERS%u2019 EQUITY $ 967,118 $ 958,839