0001071236-24-000035 | 10-K | XBRL Viewer

Income Tax Expense (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of Income Tax Expense

The components of income tax expense for the years ended December 31, 2023, 2022, and 2021, were as follows:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Current tax expense	$	8,395	$	7,752	$	7,881
Deferred tax expense (benefit)	(330)		313		(773)
Income tax expense	$	8,065	$	8,065	$	7,108

Schedule of Effective Income Tax Rate Reconciliation

The source and tax effect of items reconciling income tax expense to the amount computed by applying the federal income tax rates in effect to income before income tax expense for the years ended December 31, 2023, 2022, and 2021, are as follows:


	December 31,
	2023				2022				2021
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Income before income tax expense	$	42,944	100.0	%	$	44,981	100.0	%	$	40,060	100.0	%

U.S. federal income tax expense	9,018		21.0	%	9,446		21.0	%	8,413		21.0	%
Nontaxable income	(1,073)		(2.5	%)	(1,338)		(3.0	%)	(1,347)		(3.4	%)
Nondeductible expenses	67		0.2	%	50		0.1	%	38		0.1	%

Other	53		0.1	%	(93)		(0.2	%)	4		—	%
Income tax expense	$	8,065	18.8	%	$	8,065	17.9	%	$	7,108	17.7	%

Schedule of Deferred Tax Assets (Liabilities)

The deferred tax assets (liabilities) were comprised of the following as of December 31, 2023 and 2022:


	December 31,
(in thousands)	2023		2022
Depreciation	$	(2,542)	$	(2,435)

FHLB of Dallas stock dividends	(20)		(22)

Gross deferred tax liability	(2,562)		(2,457)
Allowance for credit losses	4,541		4,190
Allowance for operational losses	54		34
Health insurance self fund	221		52
Deferred compensation	708		620
Net unrealized loss on securities	16,081		18,917
Equity security valuation	35		4
Advance payment	197		325
Accrued bonus	502		448
Other	72		40
Gross deferred tax asset	22,411		24,630
Net deferred tax asset (liability)	$	19,849	$	22,173

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Related Party Transactions [Abstract]
Related party deposits	$ 74.6	$ 67.3

Leases - Narrative (Details) $ in Thousands	12 Months Ended
Leases - Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Lease expense	$ 643	$ 628	$ 549
Cash paid for amounts included in measurement of lease liabilities for operating leases	$ 625	$ 606	$ 530
Minimum
Lessee, Lease, Description [Line Items]
Renewal term (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term (in years)	5 years
Land
Lessee, Lease, Description [Line Items]
Number of contracts \| contract	7

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$ 93,439	$ 75,827	$ 67,923
Interest on securities	14,291	13,735	8,660
Interest on federal funds sold	886	1,091	88
Interest on deposits in other banks	9,797	3,682	658
Dividends on stock	155	40	10
Total Interest and Dividend Income	118,568	94,375	77,339
INTEREST EXPENSE
Interest on deposits	32,066	7,736	5,617
Interest on other borrowed funds	64	0	0
Total Interest Expense	32,130	7,736	5,617
Net Interest Income	86,438	86,639	71,722
Provision for credit losses	735	1,750	1,900
Net Interest Income After Provision for Credit Losses	85,703	84,889	69,822
NONINTEREST INCOME
Service charges on deposit accounts	5,776	5,565	4,775
Debit card income, net	3,563	3,897	4,415
Mortgage loan income	1,965	3,096	8,676
Brokerage income	3,798	3,549	3,297
Loan and deposit income	2,140	1,723	1,738
Bank-owned life insurance income	754	713	648
Gain (Loss) on equity securities	(14)	(468)	(175)
Gain (Loss) on sale and call of securities	0	(59)	194
SBIC income	2,873	563	654
Other income (loss)	259	168	271
Total Noninterest Income	21,114	18,747	24,493
OPERATING EXPENSES
Personnel expenses	37,241	34,560	32,449
Occupancy and equipment expenses	6,581	6,109	5,443
Technology expenses	2,759	2,763	2,810
Advertising	1,302	1,134	921
Other business development expenses	1,987	1,645	1,169
Data processing expense	2,320	2,093	1,982
Other taxes	2,721	2,714	2,082
Loan and deposit expenses	984	659	1,016
Legal and professional expenses	2,378	1,997	1,683
Regulatory assessment expenses	1,645	1,058	933
Other operating expenses	3,955	3,923	3,767
Total Operating Expenses	63,873	58,655	54,255
Income Before Income Tax Expense	42,944	44,981	40,060
Income tax expense	8,065	8,065	7,108
Net Income	$ 34,879	$ 36,916	$ 32,952
EARNINGS PER SHARE
Basic (in dollars per share)	$ 4.87	$ 5.14	$ 4.53
Diluted (in dollars per share)	$ 4.86	$ 5.13	$ 4.51

Deposits

12 Months Ended

Dec. 31, 2023

Deposits [Abstract]

Deposits

Deposits were consistent at $2.80 billion as of December 31, 2023 and 2022. In 2023, there was a deposit mix shift between deposit categories as customers moved funds from noninterest-bearing and lower yielding categories to higher yielding categories. Deposits are summarized below:


	December 31,
(in thousands)	2023		2022
Noninterest-bearing demand deposits	$	916,456	$	1,090,539
Interest-bearing deposits:
Interest-bearing demand deposits	138,380		89,144
NOW accounts	468,483		503,308
Money market accounts	541,607		578,161
Savings accounts	173,741		195,479
Time deposits less than or equal to $250,000	392,094		250,875
Time deposits greater than $250,000	171,127		91,430
Total interest-bearing deposits	1,885,432		1,708,397
Total deposits	$	2,801,888	$	2,798,936

As of December 31, 2023, the scheduled maturities of all outstanding time deposits were as follows:


Years ending December 31,	Amount
(in thousands)
2024	$	478,589
2025	56,727
2026	10,823
2027	8,924
2028	4,647
Thereafter	3,511
	$	563,221

Collateral for Deposits

As of December 31, 2023 and 2022, securities and FHLB of Dallas letters of credit with values of approximately $287.4 million and $268.6 million, respectively, were pledged as collateral to secure public entity deposits.

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Loan balance - beginning of period	$ 1,916,267
Changes in relationships, net	690	$ 10,886
Loan balance - end of period	1,992,858	1,916,267
Related Party
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Loan balance - beginning of period	32,648	23,792
New loans	3,773	4,408
Repayments	(7,053)	(6,438)
Loan balance - end of period	$ 30,058	$ 32,648

Regulatory Capital Requirements - Schedule of Regulatory Requirements (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Red River Bancshares, Inc.
Total Risk-Based Capital
Actual Amount	$ 384,577	$ 356,001
Actual Ratio (as a percent)	0.1828	0.1739
Regulatory Requirements, Minimum, Amount	$ 220,905
Regulatory Requirements, Minimum, Ratio (as a percent)	0.1050
Tier I Risk-Based Capital
Actual Amount	$ 362,799	$ 335,373
Actual Ratio (as a percent)	0.1724	0.1638
Regulatory Requirements, Minimum, Amount	$ 178,828
Regulatory Requirements, Minimum, Ratio (as a percent)	0.0850
Common Equity Tier I Capital
Actual Amount	$ 362,799	$ 335,373
Actual Ratio (as a percent)	0.1724	0.1638
Regulatory Requirements, Minimum, Amount	$ 147,270
Regulatory Requirements, Minimum, Ratio (as a percent)	0.0700
Tier I Leverage Capital
Actual Amount	$ 362,799	$ 335,373
Actual Ratio (as a percent)	0.1156	0.1071
Regulatory Requirements, Minimum, Amount	$ 125,575
Regulatory Requirements, Minimum, Ratio (as a percent)	0.0400
Red River Bank
Total Risk-Based Capital
Actual Amount	$ 378,582	$ 344,867
Actual Ratio (as a percent)	0.1800	0.1685
Regulatory Requirements, Minimum, Amount	$ 220,850	$ 214,915
Regulatory Requirements, Minimum, Ratio (as a percent)	0.1050	0.1050
Regulatory Requirements, Well-Capitalized, Amount	$ 210,333	$ 204,681
Regulatory Requirements, Well-Capitalized, Ratio (as a percent)	0.1000	0.1000
Tier I Risk-Based Capital
Actual Amount	$ 356,804	$ 324,239
Actual Ratio (as a percent)	0.1696	0.1584
Regulatory Requirements, Minimum, Amount	$ 178,783	$ 173,979
Regulatory Requirements, Minimum, Ratio (as a percent)	0.0850	0.0850
Regulatory Requirements, Well-Capitalized, Amount	$ 168,266	$ 163,745
Regulatory Requirements, Well-Capitalized, Ratio (as a percent)	0.0800	0.0800
Common Equity Tier I Capital
Actual Amount	$ 356,804	$ 324,239
Actual Ratio (as a percent)	0.1696	0.1584
Regulatory Requirements, Minimum, Amount	$ 147,233	$ 143,277
Regulatory Requirements, Minimum, Ratio (as a percent)	0.0700	0.0700
Regulatory Requirements, Well-Capitalized, Amount	$ 136,716	$ 133,043
Regulatory Requirements, Well-Capitalized, Ratio (as a percent)	0.0650	0.0650
Tier I Leverage Capital
Actual Amount	$ 356,804	$ 324,239
Actual Ratio (as a percent)	0.1137	0.1035
Regulatory Requirements, Minimum, Amount	$ 125,538	$ 125,252
Regulatory Requirements, Minimum, Ratio (as a percent)	0.0400	0.0400
Regulatory Requirements, Well-Capitalized, Amount	$ 156,923	$ 156,565
Regulatory Requirements, Well-Capitalized, Ratio (as a percent)	0.0500	0.0500

Subsequent Events (Details) - USD ($) $ in Thousands		12 Months Ended
Subsequent Events (Details) - USD ($) $ in Thousands	Mar. 13, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 14, 2023	Nov. 04, 2022
Subsequent Event [Line Items]
Stock repurchased (in shares)		101,298
Stock repurchased value		$ 4,999	$ 218	$ 7,878
Stock repurchase programs, authorized amount (up to)					$ 5,000	$ 5,000
Subsequent Event \| Privately Negotiated Stock Repurchase Agreement
Subsequent Event [Line Items]
Stock repurchased (in shares)	200,000
Stock repurchased value	$ 10,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Self-Insurance (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Insurance [Abstract]
Liability, deductible	$ 135
Maximum coverage by the group	$ 4,500

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements include the accounts of the Company and all other entities in which the Company has controlling interest. All significant intercompany accounts and transactions have been eliminated in consolidation. The accounting and reporting policies of the Company conform to GAAP and the prevailing practices within the banking industry.

Operating Segments

While the chief operating decision-maker monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

Use of Estimates

The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. These estimates also affect the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

On January 1, 2023, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which significantly changed the impairment model for most financial assets that are measured at amortized cost, including loans HFI, securities, and unfunded commitments, from an incurred loss model to an expected loss model. Accounting policies related to the ACL are considered critical as these policies involve considerable subjective judgment and estimation by management. Changes in factors and forecasts used in evaluating the overall loan portfolio may result in significant changes in the ACL and related provision expense in future periods. The allowance level is influenced by loan portfolio growth, changes in the quality and composition of the loan portfolio, the level of nonperforming loans, delinquency and charge-off trends, current economic conditions, forecasted information, and other conditions influencing loss expectations. Changes to the assumptions in the model in future periods could have a material impact on the Company’s Consolidated Financial Statements.

Acquisition Accounting

The Company accounts for its acquisitions under ASC Topic 805, Business Combinations, which requires the use of the acquisition method of accounting. Purchased assets, including loans, and assumed liabilities are recorded at their respective acquisition date fair values. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and due from banks and interest-bearing deposits in other banks. Interest-bearing deposits in other banks consist of money market, certificate of deposit, and checking accounts and are carried at cost.

Securities

All debt securities of the Company as of December 31, 2023 and 2022, were classified either as AFS or HTM. Securities AFS are held for indefinite periods of time and are carried at estimated fair value with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss), net of tax. Securities HTM, which the Company has the intent and ability to hold until maturity, are carried at amortized cost. Realized gains and losses on the sale and call of securities are determined using the specific-identification method. Purchased premiums and discounts are recognized in interest income using the interest method over the term of the securities.

Equity securities include a CRA mutual fund owned by the Company, which is carried at fair value with any periodic changes in value recorded through the statements of income.

Prior to the adoption of ASC 326 on January 1, 2023, declines in the fair value of HTM and AFS debt securities below their cost that were deemed to be other-than-temporary were reflected in earnings as realized losses to the extent the losses were credit related. FASB issued accounting guidance related to the recognition and presentation of OTTI. The accounting guidance specified that if (1) a company did not have the intent to sell a debt security prior to recovery; and (2) it was more likely than not that it would not have to sell the debt security prior to recovery, the security would not be considered other-than-temporarily impaired unless there was a credit loss. When an entity did not intend to sell the security, and it was more likely than not that the entity would not have to sell the security before recovery of its cost basis, the entity would recognize the credit component of an OTTI of a debt security in earnings and the remaining portion in other comprehensive income (loss). For HTM debt securities, the amount of OTTI recorded in other comprehensive income (loss) for the noncredit portion of an OTTI should be amortized over the remaining life of the security based on the timing of its future estimated cash flows.

Securities AFS

The Company adopted the provisions of ASC 326 on January 1, 2023. The Company is required to measure expected credit losses on securities AFS. Impairment is evaluated when there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value. Management evaluates each security by considering the nature of the collateral, potential future changes in collateral values, default rates, delinquency rates, third-party guarantees, credit ratings, volatility of the security’s fair value, and historical loss information for financial assets secured with similar collateral, along with other factors. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, the results of reviews of the issuer’s financial condition, and the issuer’s anticipated ability to pay the contractual cash flows of the investments. If a decline in the fair value related to creditworthiness or other factors is determined, an ACL is calculated using a discounted cash flow method, whereby management compares the present value of expected cash flows with the amortized cost basis of the security. The credit loss component is recognized through the provision for credit losses in the consolidated statements of income. Accrued interest receivable is excluded from the amortized cost basis in measuring expected credit losses on the investment securities, and no ACL is recorded on accrued interest receivable. The Company’s current securities AFS portfolio consists of U.S. Treasury securities, mortgage-backed securities, U.S. agency securities, and municipal bonds. The Company’s securities AFS, other than the municipal bonds, are considered treasuries, agencies, and instrumentalities of the U.S. government, which have a zero credit loss assumption. These securities have the full faith and credit backing of the U.S. government or one of its agencies. Municipal bonds AFS do not fall under the zero credit loss assumption and are evaluated quarterly using the considerations mentioned above to determine whether there is a credit loss associated with a decline in fair value.

Securities HTM

The Company is required to measure expected credit losses on securities HTM. Securities HTM are measured on a collective basis by major security type with those sharing similar risk characteristics, and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The ACL is a valuation account that is deducted from the amortized cost basis to present the net amount expected to be collected on the securities HTM portfolio. Management monitors the HTM portfolio to determine whether an ACL should be recorded. The Company’s current securities HTM portfolio consists of mortgage-backed securities and U.S. agency securities. The Company’s securities HTM are considered agencies and instrumentalities of the U.S. government that have a zero credit loss assumption. These securities have the full faith and credit backing of the U.S. government or one of its agencies.

Nonmarketable Equity Securities

Nonmarketable equity securities, which include investments in the FHLB of Dallas and First National Banker’s Bank, are carried at cost.

Loans Held for Sale

Residential mortgage loans originated and intended for sale are carried at the lower of cost or estimated fair value on an individual basis. These mortgage loans are pre-sold prior to funding.

Loans Held for Investment

Loans that management has the intent and ability to hold, for the foreseeable future or until maturity or payoff, are reported at amortized cost. Amortized cost is the principal balance outstanding, net of deferred fees and costs. Accrued interest receivable is reported in accrued interest receivable on the consolidated balance sheets and is excluded from the estimate of credit losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

Interest income on loans is discontinued, and the loans are placed on nonaccrual status at the time the loan is 90 days past due unless the loan is well-secured and in process of collection. When a loan is placed on nonaccrual status, uncollected accrued interest is reversed, reducing interest income, and future income accrual is discontinued. Subsequent payments, if any, of interest and fees are applied as reductions to the loan’s outstanding principal balance. Once the principal balance of a loan placed on nonaccrual status has been fully recovered, subsequent payments received are recognized as interest income on a cash basis. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

Loans, excluding credit cards, are charged-off to the ACL to the extent management is relatively certain that principal and interest will be uncollectible. Management may elect to partially charge-off a loan to adjust the principal balance to the net realizable value of the collateral that secures the loan. When a partial charge-off is made, the remaining balance of the loan is placed on nonaccrual. Recoveries of amounts previously charged-off, if any, are credited to the ACL until the principal balance of the loan is fully recovered. Any subsequent payments are recognized as income. Credit card loans continue to accrue interest until they are charged-off to the ACL no later than 120 days past due unless the loan is in the process of collection. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful.

Allowance for Credit Losses - Loans, Allowance for Loan Losses and Acquired Loans

Allowance for Credit Losses - Loans

The ACL is a valuation account calculated in accordance with ASC 326 and is deducted from the amortized cost basis of loans HFI to present management’s best estimate of the expected credit losses to be recognized over the lifetime of the loans. The amount of the ACL should not be interpreted as an indication that charge-offs in future periods will necessarily occur in those amounts, or at all. Loans are charged-off against the allowance when management is relatively certain that principal and interest will be uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Subsequent recoveries, if any, are credited to the allowance.

Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. This reasonable and supportable forecast period is currently one year and incorporates the Company’s and its peer’s historical losses. After the forecast period, the Company reverts to an average historical loss rate over a two-year period. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term, as well as for changes in economic conditions, such as changes in unemployment rates, property values, or other relevant factors. These qualitative factors serve to compensate for additional areas of uncertainty inherent in the portfolio that are not reflected in the Company’s historic loss factors. The determination of the amount of allowance involves a high degree of judgement and subjectivity.

The ACL is measured on a collective pool basis when similar risk characteristics and risk profiles exist. The Company utilizes cohort loss rate (static pool analysis) and remaining life loss rate methodologies to estimate the quantitative portion of the ACL for loan pools. The cohort loss rate methodology tracks a closed pool of loans over their remaining lives to determine their loss behavior. The remaining life loss rate methodology takes the calculated loss rate and applies that rate to a pool of loans on a periodic basis based on the remaining life expectation of that pool.

The portfolio pools are based primarily on regulatory call report codes. These pools and certain of the inherent risks in the Company’s loan portfolio are summarized in the following table.


Loan Pool			Risk Characteristics
Residential construction			This category consists of loans to residential developers and to individual clients for construction of single-family homes. Risks inherent in this portfolio pool include fluctuations in the value of real estate, project completion risk, and change in market trends.
Commercial construction			This category consists of loans to small and medium-sized businesses to construct owner occupied facilities and developers of commercial real estate investment properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, project completion risk, change in market trends, and the ability to sell the property upon completion.
Farmland			This category consists of loans secured by real estate that is used or usable for agricultural purposes, including land used for crops, livestock production, grazing/pastureland, and timberland. Risks inherent in this portfolio pool include adverse changes in climate, fluctuations in feed and livestock prices, and changes in property values.
Home equity loans and lines			This category consists of home equity loans and lines of credit. Risks inherent in this portfolio pool include local unemployment rates, local residential real estate market conditions, and the interest rate environment.
Secured closed-liens			This category consists of loans secured by primary and secondary liens on residential real estate. Risks inherent in this portfolio pool include local unemployment rates, local residential real estate market conditions, and the interest rate environment. Generally, these loans are for longer terms than home equity loans and lines of credit.
Multifamily			This category consists of loans secured by apartment or residential buildings with five or more units used to accommodate households on a temporary or permanent basis. Risks inherent in this portfolio pool include local unemployment rates, changes in the local economy, and factors that would impact property values.
Owner occupied commercial real estate			This category consists of loans to established operating companies and secured by owner occupied offices and industrial real estate properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, the overall strength of the economy, new job creation trends, environmental contamination, and the quality of the borrower’s management.
Non-owner occupied commercial real estate			This category consists of loans to developers and other persons or entities and secured by non-owner occupied commercial real estate properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, the overall strength of the economy, new job creation trends, tenant vacancy rates, environmental contamination, and the quality of the borrower’s management.
Commercial and industrial			This category consists of secured and unsecured loans to purchase capital equipment, agriculture operating loans, and other business loans for working capital and operating purposes. Secured loans are primarily secured by accounts receivable, inventory, and other business assets. The performance of commercial and industrial loans may be adversely affected by, among other factors, conditions specific to the relevant industry, fluctuations in the value of the collateral, and individual performance factors related to the borrower such as the quality of the borrower’s management.
Consumer			This category consists of loans to individuals for household, family, and other personal use. Risks inherent in this portfolio pool include the borrower’s financial condition, local unemployment rates, local economic conditions, and the interest rate environment.
Tax-exempt			This category consists of loans to political subdivisions primarily of the State of Louisiana including parishes, municipalities, utility districts, school districts, and development authorities. These loans undergo the same underwriting as any of the Company’s other loans and are typically paid for by ad valorem taxes or specific revenue sources.
Other loans			This category consists of loans not included in any other category. Risks inherent in this portfolio pool include local unemployment rates, local economic conditions, and the interest rate environment.

Loans that do not share similar risk characteristics are evaluated on an individual basis and excluded from the collective evaluation. For loans evaluated on an individual basis that are collateral dependent, the specific allowance is estimated by calculating the difference between the fair value of the underlying collateral less estimated selling costs and the Bank’s exposure. If the loan is not collateral dependent, the discounted cash flow methodology is used. Either of these determinations are highly subjective and based on information available at the time of valuation.

Reserve for Unfunded Commitments

Commitments to extend credit are agreements to lend to a customer if all conditions of the commitment have been met. The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The reserve for unfunded commitments is recorded within accrued interest payable on the consolidated balance sheets, and the related provision is recorded in other operating expenses on the consolidated statements of income. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The loss rates computed for each pool and expected pool-level funding rates are applied to the related unfunded commitment balance to obtain the reserve amount.

Allowance for Loan Losses

For reporting periods prior to January 1, 2023, the ALL was established for known and inherent losses in the loan portfolio based upon management’s best assessment of the loan portfolio at each balance sheet date. It was maintained at a level estimated to be adequate to absorb potential losses through periodic changes to loan losses.

The ALL consisted of specific and general reserves. Specific reserves related to loans classified as impaired. Loans were considered impaired when, based on current information and events, it was probable that the Bank would be unable to collect all amounts due in accordance with the contractual terms of the loan. Impaired loans included TDRs and performing and nonperforming loans. Impaired loans were reviewed individually, and a specific allowance was allocated, if necessary, based on evaluation of either the fair value of the collateral underlying the loan or the present value of future cash flows calculated using the loan’s existing interest rate. General reserves were related to the remainder of the loan portfolio, including overdrawn deposit accounts, and were based on an evaluation of a number of factors, such as current economic conditions, the quality and composition of the loan portfolio, loss history, and other relevant factors.

Acquired Loans

Acquired loans, for which all contractual cash flows are expected to be received, are accounted for under the accounting guidance found in ASC Topic 310-20, Receivables - Nonrefundable Fees and Other Costs.

With the adoption of ASC 326 on January 1, 2023, loans acquired as part of a business combination that have evidence of credit deterioration since their origination date are to be recorded at amortized cost with an associated allowance for the expected credit loss at the date of the acquisition. Prior to January 1, 2023, acquired loans, with evidence of credit deterioration, were accounted for under the accounting guidance found in ASC Topic 310-30, Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality.

Foreclosed Assets

Assets acquired through, or in lieu of, loan foreclosure are HFS and are initially recorded at fair value less estimated cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less estimated cost to sell. Foreclosed assets are included in other assets on the consolidated balance sheets.

Credit Related Financial Information

In the ordinary course of business, the Bank has entered into commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they are funded.

Premises and Equipment, Net

Premises and equipment are stated at cost less accumulated depreciation, which is computed using the straight-line method over the estimated useful lives of the assets, which range from 3 to 40 years.

Bank-Owned Life Insurance

The Bank has purchased life insurance policies on certain key employees. The Bank is the beneficiary of the BOLI policies, which may be on past or present employees. BOLI policies have death benefits as well as a cash surrender value component, which is carried as an asset on the consolidated balance sheets.

Intangible Assets

Intangible assets consist of goodwill. Goodwill represents the excess purchase price over the fair value of net assets acquired in business acquisitions. Goodwill is not amortized but rather evaluated for impairment annually. The Company performed its annual impairment test of goodwill for 2023 and 2022 as required by ASC 350, Intangibles - Goodwill and Other.

Treasury Stock

On January 1, 2015, the LBCA became effective. Under provisions of the LBCA, there is no concept of “Treasury Shares.” Rather, shares purchased by the Company constitute authorized but unissued shares. Accordingly, the Company’s consolidated balance sheets reflect the cost of shares purchased by the Company within common stock.

Comprehensive Income

Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes the after tax effect of unrealized net gains and losses on securities AFS and the amortization of the unrealized net loss on securities transferred to HTM.

Stock-Based Compensation Plans

The Company has adopted stock incentive plans that provide for the granting of stock-based awards to key employees, directors, and consultants. The Company accounts for the stock incentive plans in accordance with applicable accounting guidance. Under the fair value recognition provisions of this guidance, stock-based compensation cost is measured at the grant date based on the fair value of the award and recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. The restricted stock granted under these plans provides common stock to recipients at the grant date. The restrictions vest in twenty percent increments on the first through fifth anniversaries of the grant date. The Company recognizes forfeitures as they occur.

The Company has a Director Compensation Program, which allows directors the option of receiving their board attendance fees in Company stock in lieu of cash. Board compensation expense is recorded when board service is rendered.

Advertising Cost

Advertising costs are expensed as incurred.

Income Tax

The provision for income tax is based on taxes payable or receivable for the current year and deferred taxes on temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. The Company has adopted the provisions of accounting guidance related to accounting for uncertainty in income taxes. This interpretation clarifies that the benefit of a position taken or expected to be taken in a tax return should be recognized in a company’s financial statements when it is more likely than not that the position will be sustained based on technical merits. The Company recognizes interest and penalties on income taxes as a component of income tax expense. The effect on deferred tax assets of a change in tax rate is recognized in income as part of income tax expense for the period that includes the enactment date. Deferred tax assets and liabilities have been measured as of December 31, 2023 and 2022, using the 21.0% corporate tax rate. For more information, see “Note 8. Income Tax Expense.”

Earnings per Common Share

Basic EPS is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, after giving retroactive effect to stock splits. Diluted EPS includes accrued but unissued shares relating to the Director Compensation Program, stock options, and restricted stock determined using the treasury stock method. A reconciliation of the weighted-average shares used in calculating basic EPS and diluted EPS for the reported periods is provided in “Note 17. Earnings Per Common Share.”

Revenue Recognition

The Company has identified certain recurring revenue streams related to noninterest income, which are within the scope of Topic 606, Revenue from Contracts with Customers. In-scope revenue streams are summarized based on the timing of revenue recognition as follows:

•Revenue earned at a point in time - Fee income (including wire transfer, check ordering, and other transactional fees), NSF/OD charges, ATM/Card fee income (including ATM transaction fees and credit and debit card interchange income), and brokerage transaction income. Revenue is recorded as transactions occur or services are provided to customers. The Company is the principal in each of these contracts with

the exception of credit and debit card interchange fees, online transaction interchange fees, sweep income, and brokerage services income, in which case the Company is acting as the agent and records revenue net of expenses paid.

•Revenue earned over time (generally under a monthly contract) - Debit card agreement, safe deposit box fees, and brokerage agreement income. Revenue is recorded in the period transactions occur or services are rendered to the customer. The Company is the principal in each of these contracts.

There are no significant judgments relating to the amount and timing of revenue recognition for revenue streams within the scope of Topic 606, Revenue from Contracts with Customers. Due to the nature of the services the Company provides to its customers, it does not incur costs to obtain contracts, and there are no material incremental costs to fulfill these contracts that should be capitalized.

Additionally, there are no material contract assets or receivables as the Company does not typically enter into long-term revenue contracts with customers.

Accounting Standards Adopted in 2023 and Recent Accounting Pronouncements

Accounting Standards Adopted in 2023

ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. On January 1, 2023, the Company adopted ASC 326, as amended, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the CECL methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loans HFI, securities HTM, and unfunded commitments. In addition, ASC 326 made changes to the accounting for securities AFS, which requires credit losses to be presented as an allowance rather than as a write-down on securities AFS that management does not intend to sell or believes that it is more likely than not that the Company will have the ability to hold until each security has recovered its cost basis.

The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and unfunded commitments. Results for reporting periods beginning after January 1, 2023, are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a $569,000, net of tax, decrease to stockholders’ equity as of January 1, 2023, for the cumulative effect of adopting ASC 326. The transition adjustment included a $278,000 increase to the December 31, 2022 ALL and established a $442,000 reserve for unfunded commitments as presented in the following table.


(in thousands)	December 31, 2022 ALL		Impact of ASC 326 Adoption		January 1, 2023 ACL
Real estate:
Commercial real estate	$	7,720	$	876	$	8,596
One-to-four family residential	5,682		1,231		6,913
Construction and development	1,654		(444)		1,210
Commercial and industrial	4,350		(822)		3,528

Tax-exempt	751		(427)		324
Consumer	471		(136)		335
Total	$	20,628	$	278	$	20,906

Reserve for unfunded commitments	$	—	$	442	$	442

Due to the zero credit loss assumption on securities AFS and HTM and the considerations applied to the securities AFS, no ACL was recorded on January 1, 2023 for securities AFS or HTM.

ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The amendments in this update address how to determine whether a contract liability is recognized by the acquirer in a business combination. The amendment also resolves the inconsistency of post-acquisition revenue recognition by providing specific guidance on how to recognize and measure acquired contract assets and contract liabilities from revenue contracts in a business combination. On January 1, 2023, the Company adopted ASU No. 2021-08. Adoption of this ASU did not have an impact on the Company’s consolidated financial statements.

ASU No. 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The guidance issued in this update eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables – Troubled Debt Restructurings by Creditors, but also enhances the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The guidance requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments – Credit Losses – Measured at

Amortized Cost. On January 1, 2023, the Company adopted ASU No. 2022-02 on a prospective basis. Adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

ASU No. 2023-01, Leases (Topic 842): Common Control Arrangements. The guidance issued in this update addresses two issues. First, the standard requires entities to determine whether a related party arrangement between entities under common control is a lease. If the arrangement is a lease, the accounting for the lease is treated the same as an arrangement with an unrelated party. This is a change in the requirement under Topic 840, Leases, which used the basis of economic substance. Secondly, the standard requires leasehold improvements associated with common control leases be amortized by the lessee over the useful life of the leasehold improvements to the common control group as long as the lessee controls the use of the underlying asset. If the lessor obtained control of the use of the underlying asset through a lease with another entity not within the common control group, the amortization period may not exceed the amortization period of the common control group. If the lessee no longer controls the use of the underlying asset, the improvement is accounted for as a transfer between entities under common control through an adjustment to equity. These leasehold improvements are subject to the impairment guidance in Topic 360 Property, Plant and Equipment. Both items of this amendment are effective for fiscal years beginning after December 15, 2023. Early adoption is permitted for both interim periods and annual financial statements that have not been issued. On January 1, 2023, the Company early adopted ASU No. 2023-01, and it did not have an impact on the Company’s consolidated financial statements.

ASU No. 2023-03, Presentation of Financial Statements (Topic 205), Income Statement - Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation - Stock Compensation (Topic 718). The guidance in this update amends various SEC paragraphs relating to financial disclosures. This update is an alignment of SEC and GAAP reporting. This update was issued in the third quarter of 2023 and was effective upon issuance. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

ASU No. 2023-06, Disclosure Improvements. The guidance in this update amends various SEC paragraphs relating to financial disclosures. This update is an alignment of SEC and GAAP reporting. This update was issued in the fourth quarter of 2023 and was effective upon issuance. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

Recent Accounting Pronouncements

ASU No. 2023-07, Segment Reporting (Topic 280). The guidance issued in this update requires improvement to the disclosures about a public entity’s reportable segments and more detailed information about a reportable segment’s expenses. Even though the Company has a single reportable segment, all the disclosures required by this update are required. The goal of these disclosures is to enable investors to develop more decision-useful financial analyses. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on the Company’s consolidated financial statements.

ASU 2023-09 Income Taxes (Topic 740). The guidance in this update provides enhanced transparency and decision usefulness of income tax disclosures. The amendment addresses investor requests for income tax information through improvements to income tax disclosures related to the rate reconciliation and income taxes paid information. Investors anticipate theses disclosures will provide an understanding of an entity’s exposures to changes in tax legislation and allow investors to better assess income tax information that affects cash flow forecasts and capital allocation decisions, as well as identify opportunities to increase future cash flows. This update is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis. Retrospective application is permitted. The Company does not expect the adoption of this standard to have a material impact on the Company’s consolidated financial statements.

Reclassification

Certain prior period amounts have been reclassified to conform to the current period presentation. These changes in presentation did not have a material impact on the Company’s financial condition or results of operations.

Equity Events (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
Equity Events (Details) - USD ($) $ in Thousands	Jan. 01, 2023	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 14, 2023	Nov. 04, 2022
Equity, Class of Treasury Stock [Line Items]
Common stockholders equity to total assets ratio, minimum (as a percent)										7.00%
Trust preferred securities to capital, maximum (as a percent)										25.00%
Stock repurchase programs, authorized amount (up to)													$ 5,000	$ 5,000
Stock repurchased (in shares)										101,298
Stock repurchased value										$ 4,999	$ 218	$ 7,878
Transferred securities of available for sale and held-to-maturity, amount								$ 166,300
AOCI, debt securities, transferred securities of available for sale and held-to-maturity, unrealized loss		$ 14,400						17,900		14,400
AOCI, debt securities, transferred securities of available for sale and held-to-maturity, unrealized loss, net of tax		11,400						14,200		11,400
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]										Accounting Standards Update 2016-13 [Member]
Cumulative effect of change in accounting principal		$ (8,292)	$ (8,021)	$ (8,968)	$ (9,598)	$ (10,191)	$ (10,186)	$ (9,147)	$ (7,392)	(34,879)	$ (36,916)	(32,952)
Retained Earnings
Equity, Class of Treasury Stock [Line Items]
Cumulative effect of change in accounting principal										(34,879)	$ (36,916)	$ (32,952)
Impact of ASC 326 Adoption
Equity, Class of Treasury Stock [Line Items]
Adjustment to the allowances for credit losses and reserve for unfunded commitments	$ 720
Impact of ASC 326 Adoption \| Retained Earnings
Equity, Class of Treasury Stock [Line Items]
Cumulative effect of change in accounting principal					$ 569					$ 569

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results of Operations

The following tables present certain unaudited consolidated quarterly financial information regarding the Company’s results of operations for each of the eight consecutive quarters in the fiscal years of 2023 and 2022. This information is derived from unaudited consolidated financial statements that include, in the Company’s opinion, all adjustments necessary for a fair presentation when read in conjunction with the Company’s consolidated financial statements and notes thereto as of and for the years ended December 31, 2023 and 2022.


	2023
(in thousands, except per share data)	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest and dividend income	$	32,041	$	30,324	$	28,471	$	27,732
Interest expense	10,747		9,599		6,961		4,823
Net interest income	21,294		20,725		21,510		22,909
Provision for credit losses	250		185		300		—
Net interest income after provision for credit losses	21,044		20,540		21,210		22,909
Noninterest income	5,187		5,581		6,007		4,340
Operating expenses	16,023		16,230		16,132		15,488
Income tax expense	1,916		1,870		2,117		2,163
Net income	$	8,292	$	8,021	$	8,968	$	9,598
Earnings per share
Basic	$	1.16	$	1.12	$	1.25	$	1.34
Diluted	$	1.16	$	1.12	$	1.25	$	1.33


	2022
(in thousands, except per share data)	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest and dividend income	$	26,982	$	24,886	$	22,498	$	20,009
Interest expense	3,308		1,798		1,349		1,281
Net interest income	23,674		23,088		21,149		18,728
Provision for loan losses	750		600		250		150
Net interest income after provision for loan losses	22,924		22,488		20,899		18,578
Noninterest income	4,619		4,867		4,860		4,402
Operating expenses	15,082		15,041		14,471		14,062
Income tax expense	2,270		2,128		2,141		1,526
Net income	$	10,191	$	10,186	$	9,147	$	7,392
Earnings per share
Basic	$	1.42	$	1.42	$	1.27	$	1.03
Diluted	$	1.42	$	1.42	$	1.27	$	1.03

Securities - Schedule of AFS Debt Securities, By Maturity Date (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Within one year	$ 82,041
After one year but within five years	52,531
After five years but within ten years	95,362
After ten years	402,324
Amortized Cost	632,258	$ 688,539
Fair Value
Within one year	80,724
After one year but within five years	50,789
After five years but within ten years	89,073
After ten years	349,506
Fair Value	570,092	614,407
Amortized Cost
Within one year	0
After one year but within five years	0
After five years but within ten years	922
After ten years	140,314
Total Securities HTM	141,236
Fair Value
Within one year	0
After one year but within five years	0
After five years but within ten years	813
After ten years	118,216
Total Securities HTM	$ 119,029	$ 132,407

Fair Value - Unobservable Inputs Used for the Level 3 (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Minimum \| Discounted appraisals \| Measurement Input, Collateral Discounts And Costs To Sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans (as a percent)	0	0
Maximum \| Discounted appraisals \| Measurement Input, Collateral Discounts And Costs To Sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans (as a percent)	1	1
Weighted Average \| Discounted appraisals \| Measurement Input, Collateral Discounts And Costs To Sell
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans (as a percent)	0.2405	0.0416
Nonrecurring \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	$ 1,754	$ 7,254
Foreclosed assets	$ 69	$ 0

Loans and Asset Quality - Schedule of Allowance of Credit Losses By Category (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				$ 20,628				$ 19,176	$ 20,628	$ 19,176	$ 17,951
Provision for credit losses	$ 250	$ 185	$ 300	0	$ 750	$ 600	$ 250	150	735	1,750	1,900
Charge-offs									(473)	(547)	(885)
Recoveries									168	249	210
Ending Balance	21,336				20,628				21,336	20,628	19,176
Impact of ASC 326 Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				278					278
Ending Balance					278					278
Real estate \| Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				7,720				6,749	7,720	6,749	5,798
Provision for credit losses									522	970	1,401
Charge-offs									0	0	(450)
Recoveries									0	1	0
Ending Balance	9,118				7,720				9,118	7,720	6,749
Real estate \| Commercial real estate \| Impact of ASC 326 Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				876					876
Ending Balance					876					876
Real estate \| One-to-four family residential
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				5,682				5,375	5,682	5,375	5,390
Provision for credit losses									584	296	(23)
Charge-offs									(23)	0	(10)
Recoveries									10	11	18
Ending Balance	7,484				5,682				7,484	5,682	5,375
Real estate \| One-to-four family residential \| Impact of ASC 326 Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				1,231					1,231
Ending Balance					1,231					1,231
Real estate \| Construction and development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				1,654				1,326	1,654	1,326	1,699
Provision for credit losses									108	328	(375)
Charge-offs									(9)	(18)	0
Recoveries									0	18	2
Ending Balance	1,309				1,654				1,309	1,654	1,326
Real estate \| Construction and development \| Impact of ASC 326 Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				(444)					(444)
Ending Balance					(444)					(444)
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				4,350				4,465	4,350	4,465	3,949
Provision for credit losses									(947)	(162)	563
Charge-offs									(58)	(39)	(74)
Recoveries									30	86	27
Ending Balance	2,553				4,350				2,553	4,350	4,465
Commercial and industrial \| Impact of ASC 326 Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				(822)					(822)
Ending Balance					(822)					(822)
Tax-exempt
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				751				749	751	749	680
Provision for credit losses									251	2	69
Charge-offs									0	0	0
Recoveries									0	0	0
Ending Balance	575				751				575	751	749
Tax-exempt \| Impact of ASC 326 Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				(427)					(427)
Ending Balance					(427)					(427)
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				471				$ 512	471	512	435
Provision for credit losses									217	316	265
Charge-offs									(383)	(490)	(351)
Recoveries									128	133	163
Ending Balance	$ 297				471				297	471	$ 512
Consumer \| Impact of ASC 326 Adoption
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance				$ (136)					$ (136)
Ending Balance					$ (136)					$ (136)

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income - basic									$ 34,879	$ 36,916	$ 32,952
Net income - diluted									$ 34,879	$ 36,916	$ 32,952
Denominator:
Weighted average shares outstanding - basic (in shares)									7,164,314	7,180,975	7,281,136
Weighted average shares outstanding - diluted (in shares)									7,181,728	7,197,453	7,299,720
Earnings per common share:
Basic (in dollars per share)	$ 1.16	$ 1.12	$ 1.25	$ 1.34	$ 1.42	$ 1.42	$ 1.27	$ 1.03	$ 4.87	$ 5.14	$ 4.53
Diluted (in dollars per share)	$ 1.16	$ 1.12	$ 1.25	$ 1.33	$ 1.42	$ 1.42	$ 1.27	$ 1.03	$ 4.86	$ 5.13	$ 4.51
Plus: Effect of Director Compensation Program
Denominator:
Plus: Effect of dilutive securities (in shares)									741	1,655	923
Plus: Effect of restricted stock
Denominator:
Plus: Effect of dilutive securities (in shares)									16,673	14,823	17,661

Leases - Operating Lease Information (Details)	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining operating lease term (in years)	6 years 8 months 12 days
Weighted average operating lease discount rate (as a percent)	3.30%

Parent Company Financial Statements - Schedule of Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 305,426	$ 278,392
Other assets	32,287	30,919
Total Assets	3,128,810	3,082,686
LIABILITIES
Accrued expenses and other liabilities	11,304	12,176
Total Liabilities	2,824,959	2,816,933
STOCKHOLDERS’ EQUITY
Preferred stock, no par value: Authorized - 1,000,000 shares; None Issued and Outstanding	0	0
Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 7,091,637 and 7,183,915 shares, respectively	55,136	60,050
Additional paid-in capital	2,407	2,088
Retained earnings	306,802	274,781
Accumulated other comprehensive income (loss)	(60,494)	(71,166)
Total Stockholders’ Equity	303,851	265,753	$ 298,150	$ 285,478
Total Liabilities and Stockholders’ Equity	3,128,810	3,082,686
Parent Company
ASSETS
Cash and cash equivalents	5,516	10,795
Other assets	524	370
Total Assets	303,896	265,784
LIABILITIES
Accrued expenses and other liabilities	45	31
Total Liabilities	45	31
STOCKHOLDERS’ EQUITY
Preferred stock, no par value: Authorized - 1,000,000 shares; None Issued and Outstanding	0	0
Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 7,091,637 and 7,183,915 shares, respectively	55,136	60,050
Additional paid-in capital	2,407	2,088
Retained earnings	306,802	274,781
Accumulated other comprehensive income (loss)	(60,494)	(71,166)
Total Stockholders’ Equity	303,851	265,753
Total Liabilities and Stockholders’ Equity	303,896	265,784
Parent Company \| Subsidiary Bank
ASSETS
Investment in subsidiary bank	$ 297,856	$ 254,619

Deposits (Tables)

12 Months Ended

Dec. 31, 2023

Deposits [Abstract]

Schedule of Deposits

Deposits are summarized below:


	December 31,
(in thousands)	2023		2022
Noninterest-bearing demand deposits	$	916,456	$	1,090,539
Interest-bearing deposits:
Interest-bearing demand deposits	138,380		89,144
NOW accounts	468,483		503,308
Money market accounts	541,607		578,161
Savings accounts	173,741		195,479
Time deposits less than or equal to $250,000	392,094		250,875
Time deposits greater than $250,000	171,127		91,430
Total interest-bearing deposits	1,885,432		1,708,397
Total deposits	$	2,801,888	$	2,798,936

Schedule of Maturities of Outstanding Certificates of Deposit

As of December 31, 2023, the scheduled maturities of all outstanding time deposits were as follows:


Years ending December 31,	Amount
(in thousands)
2024	$	478,589
2025	56,727
2026	10,823
2027	8,924
2028	4,647
Thereafter	3,511
	$	563,221

- Definition

Tabular disclosure of type of deposit liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (1)
-Publisher SEC

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (2)
-Publisher SEC

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (3)
-Publisher SEC

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (4)
-Publisher SEC

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Subparagraph (5)
-Publisher SEC

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (c)
-Publisher SEC

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (d)
-Publisher SEC

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)
-Publisher SEC

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (1)
-Publisher SEC

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)
-Publisher SEC

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)
-Publisher SEC

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(ii)
-Publisher SEC

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iii)
-Publisher SEC

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iv)
-Publisher SEC

+ Details

Loans and Asset Quality - Schedule of Amortized Cost Basis With Modifications (Details) - Term Extension $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	$ 300
Total Class of Loans Receivable (as a percent)	0.10%
Real estate \| Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	$ 0
Total Class of Loans Receivable (as a percent)	0.00%
Real estate \| One-to-four family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	$ 300
Total Class of Loans Receivable (as a percent)	0.10%
Financial Effect, amortization period extended period (in years)	2 years 4 months 2 days
Real estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	$ 0
Total Class of Loans Receivable (as a percent)	0.00%
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	$ 0
Total Class of Loans Receivable (as a percent)	0.00%
Tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	$ 0
Total Class of Loans Receivable (as a percent)	0.00%
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	$ 0
Total Class of Loans Receivable (as a percent)	0.00%

Loans and Asset Quality - Schedule of Financing Receivable, Nonaccrual (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with No ACL	$ 709
Nonaccrual with ACL	1,250
Total Nonaccrual	1,959	$ 2,364
Real estate \| Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with No ACL	0
Nonaccrual with ACL	714
Total Nonaccrual	714	720
Real estate \| One-to-four family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with No ACL	0
Nonaccrual with ACL	269
Total Nonaccrual	269	243
Real estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with No ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	9
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with No ACL	709
Nonaccrual with ACL	135
Total Nonaccrual	844	1,291
Tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with No ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with No ACL	0
Nonaccrual with ACL	132
Total Nonaccrual	$ 132	$ 101

Loans and Asset Quality - Schedule of Total Loans Held for Investment by Category and Loans Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 1,992,858	$ 1,916,267
Total loans HFS	1,306	518
Real estate \| Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	851,582	794,723
Real estate \| One-to-four family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	599,487	543,511
Real estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	125,238	157,364
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	315,327	310,067
Tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	72,913	83,166
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 28,311	$ 27,436

Other Borrowed Funds	12 Months Ended
Other Borrowed Funds	Dec. 31, 2023
Debt Disclosure [Abstract]
Other Borrowed Funds	Other Borrowed FundsThe Company has established borrowing capacity with the FHLB of Dallas, the Federal Reserve Bank’s Discount Window facility, and other correspondent banks to provide additional sources of operating funds. As of June 30, 2023, the Company had $60.0 million in short-term advances at an interest rate of 5.49% from the FHLB of Dallas under the existing line of credit. The $60.0 million advance matured and was repaid in July 2023. As of December 31, 2023, total borrowing capacity from these sources was $975.7 million. As of December 31, 2023 and 2022, the Company had no outstanding borrowings under these agreements.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Common Share

The computations of basic and diluted earnings per common share for the Company were as follows:


	Years Ended December 31,
(in thousands, except share amounts)	2023		2022		2021
Numerator:
Net income - basic	$	34,879	$	36,916	$	32,952
Net income - diluted	$	34,879	$	36,916	$	32,952

Denominator:
Weighted average shares outstanding - basic	7,164,314		7,180,975		7,281,136
Plus: Effect of Director Compensation Program	741		1,655		923
Plus: Effect of restricted stock	16,673		14,823		17,661
Weighted average shares outstanding - diluted	7,181,728		7,197,453		7,299,720

Earnings per common share:
Basic	$	4.87	$	5.14	$	4.53
Diluted	$	4.86	$	5.13	$	4.51

Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions

In the ordinary course of business, certain officers, directors, and principal shareholders, as well as their immediate family members and their affiliates, maintain a variety of banking relationships with the Company.

An analysis of loan activity to these related parties is as follows:


	Years Ended December 31,
(in thousands)	2023		2022
Loan balance - beginning of period	$	32,648	$	23,792
New loans	3,773		4,408
Changes in relationships, net	690		10,886
Repayments	(7,053)		(6,438)
Loan balance - end of period	$	30,058	$	32,648

As of December 31, 2023 and 2022, deposits from directors, executive officers, their immediate family members, and their affiliates totaled approximately $74.6 million and $67.3 million, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.32	$ 0.28	$ 0.28

Securities - Schedule of Securities With Gross Unrealized Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Less than twelve months
Gross Unrealized Losses	$ (200)	$ (26,014)
Fair Value	43,499	331,117
Twelve months or more
Gross Unrealized Losses	(62,379)	(48,124)
Fair Value	487,233	282,149
Less than twelve months
Gross Unrealized Losses	0	(19,276)
Fair Value	0	132,407
Twelve months or more
Gross Unrealized Losses	(22,207)	0
Fair Value	119,029	0
Mortgage-backed securities
Less than twelve months
Gross Unrealized Losses	(35)	(10,214)
Fair Value	19,383	105,030
Twelve months or more
Gross Unrealized Losses	(31,193)	(21,058)
Fair Value	206,518	135,607
Less than twelve months
Gross Unrealized Losses	0	(19,142)
Fair Value	0	131,629
Twelve months or more
Gross Unrealized Losses	(22,098)	0
Fair Value	118,216	0
Municipal bonds
Less than twelve months
Gross Unrealized Losses	(83)	(11,340)
Fair Value	4,815	84,691
Twelve months or more
Gross Unrealized Losses	(27,649)	(23,879)
Fair Value	176,098	98,607
U.S. Treasury securities
Less than twelve months
Gross Unrealized Losses	0	(608)
Fair Value	0	10,289
Twelve months or more
Gross Unrealized Losses	(1,912)	(1,137)
Fair Value	90,142	8,564
U.S. agency securities
Less than twelve months
Gross Unrealized Losses	(82)	(3,852)
Fair Value	19,301	131,107
Twelve months or more
Gross Unrealized Losses	(1,625)	(2,050)
Fair Value	14,475	39,371
Less than twelve months
Gross Unrealized Losses	0	(134)
Fair Value	0	778
Twelve months or more
Gross Unrealized Losses	(109)	0
Fair Value	$ 813	$ 0

Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities Available for Sale

The amortized cost and estimated fair value of securities AFS and securities HTM are summarized in the following tables:


	December 31, 2023
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	288,793	$	395	$	(31,228)	$	257,960
Municipal bonds	211,848		13		(27,732)		184,129
U.S. Treasury securities	92,054		—		(1,912)		90,142
U.S. agency securities	39,563		5		(1,707)		37,861
Total Securities AFS	$	632,258	$	413	$	(62,579)	$	570,092

Securities HTM:
Mortgage-backed securities	$	140,314	$	—	$	(22,098)	$	118,216
U.S. agency securities	922		—		(109)		813
Total Securities HTM	$	141,236	$	—	$	(22,207)	$	119,029


	December 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	272,253	$	—	$	(31,272)	$	240,981
Municipal bonds	219,305		6		(35,219)		184,092
U.S. Treasury securities	176,380		—		(5,902)		170,478
U.S. agency securities	20,601		—		(1,745)		18,856
Total Securities AFS	$	688,539	$	6	$	(74,138)	$	614,407

Securities HTM:
Mortgage-backed securities	$	150,771	$	—	$	(19,142)	$	131,629
U.S. agency securities	912		—		(134)		778
Total Securities HTM	$	151,683	$	—	$	(19,276)	$	132,407

Schedule of Debt Securities Held-to-Maturity

The amortized cost and estimated fair value of securities AFS and securities HTM are summarized in the following tables:


	December 31, 2023
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	288,793	$	395	$	(31,228)	$	257,960
Municipal bonds	211,848		13		(27,732)		184,129
U.S. Treasury securities	92,054		—		(1,912)		90,142
U.S. agency securities	39,563		5		(1,707)		37,861
Total Securities AFS	$	632,258	$	413	$	(62,579)	$	570,092

Securities HTM:
Mortgage-backed securities	$	140,314	$	—	$	(22,098)	$	118,216
U.S. agency securities	922		—		(109)		813
Total Securities HTM	$	141,236	$	—	$	(22,207)	$	119,029


	December 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	272,253	$	—	$	(31,272)	$	240,981
Municipal bonds	219,305		6		(35,219)		184,092
U.S. Treasury securities	176,380		—		(5,902)		170,478
U.S. agency securities	20,601		—		(1,745)		18,856
Total Securities AFS	$	688,539	$	6	$	(74,138)	$	614,407

Securities HTM:
Mortgage-backed securities	$	150,771	$	—	$	(19,142)	$	131,629
U.S. agency securities	912		—		(134)		778
Total Securities HTM	$	151,683	$	—	$	(19,276)	$	132,407

Schedule of Maturities of Securities Available for Sale

The amortized cost and estimated fair value of securities AFS and securities HTM as of December 31, 2023, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers have the right to call or repay obligations with or without call or prepayment penalties.


	December 31, 2023
(in thousands)	Amortized Cost		Fair Value
Securities AFS:
Within one year	$	82,041	$	80,724
After one year but within five years	52,531		50,789
After five years but within ten years	95,362		89,073
After ten years	402,324		349,506
Total Securities AFS	$	632,258	$	570,092

Securities HTM:
Within one year	$	—	$	—
After one year but within five years	—		—
After five years but within ten years	922		813
After ten years	140,314		118,216
Total Securities HTM	$	141,236	$	119,029

Schedule of Debt Securities Available for Sale in Unrealized Loss Position

Information pertaining to securities AFS and securities HTM with gross unrealized losses as of December 31, 2023 and 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is described as follows:


	December 31, 2023
	Less than twelve months				Twelve months or more
(in thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	(35)	$	19,383	$	(31,193)	$	206,518
Municipal bonds	(83)		4,815		(27,649)		176,098
U.S. Treasury securities	—		—		(1,912)		90,142
U.S. agency securities	(82)		19,301		(1,625)		14,475
Total Securities AFS	$	(200)	$	43,499	$	(62,379)	$	487,233

Securities HTM:
Mortgage-backed securities	$	—	$	—	$	(22,098)	$	118,216
U.S. agency securities	—		—		(109)		813
Total Securities HTM	$	—	$	—	$	(22,207)	$	119,029

	December 31, 2022
	Less than twelve months				Twelve months or more
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	(10,214)	$	105,030	$	(21,058)	$	135,607
Municipal bonds	(11,340)		84,691		(23,879)		98,607
U.S. Treasury securities	(3,852)		131,107		(2,050)		39,371
U.S. agency securities	(608)		10,289		(1,137)		8,564
Total Securities AFS	$	(26,014)	$	331,117	$	(48,124)	$	282,149

Securities HTM:
Mortgage-backed securities	$	(19,142)	$	131,629	$	—	$	—
U.S. agency securities	(134)		778		—		—
Total Securities HTM	$	(19,276)	$	132,407	$	—	$	—

Schedule of Debt Securities Held-to-Maturity in Unrealized Loss Position


	December 31, 2023
	Less than twelve months				Twelve months or more
(in thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	(35)	$	19,383	$	(31,193)	$	206,518
Municipal bonds	(83)		4,815		(27,649)		176,098
U.S. Treasury securities	—		—		(1,912)		90,142
U.S. agency securities	(82)		19,301		(1,625)		14,475
Total Securities AFS	$	(200)	$	43,499	$	(62,379)	$	487,233

Securities HTM:
Mortgage-backed securities	$	—	$	—	$	(22,098)	$	118,216
U.S. agency securities	—		—		(109)		813
Total Securities HTM	$	—	$	—	$	(22,207)	$	119,029

	December 31, 2022
	Less than twelve months				Twelve months or more
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	(10,214)	$	105,030	$	(21,058)	$	135,607
Municipal bonds	(11,340)		84,691		(23,879)		98,607
U.S. Treasury securities	(3,852)		131,107		(2,050)		39,371
U.S. agency securities	(608)		10,289		(1,137)		8,564
Total Securities AFS	$	(26,014)	$	331,117	$	(48,124)	$	282,149

Securities HTM:
Mortgage-backed securities	$	(19,142)	$	131,629	$	—	$	—
U.S. agency securities	(134)		778		—		—
Total Securities HTM	$	(19,276)	$	132,407	$	—	$	—

Schedule of Realized Gain (Loss)

The proceeds from sales and calls of debt securities and their gross gain (loss) for the years ended December 31, 2023, 2022, and 2021, are shown below:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Proceeds (1)	$	—	$	41,234	$	120,374
Gross gain	—		64		859
Gross loss	—		(123)		(665)

(1)The proceeds include the gross gain and loss.

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

+ Details

Leases - Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 631
2025	657
2026	603
2027	547
2028	549
Thereafter	1,300
Total lease payments	4,287
Less: Imputed interest	(520)
Present value of lease liabilities	$ 3,767	$ 4,258

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 34,879,000	$ 36,916,000	$ 32,952,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	2,198,000	2,076,000	1,906,000
Amortization	548,000	533,000	646,000
Share-based compensation earned	319,000	274,000	269,000
Share-based board compensation earned	42,000	85,000	50,000
(Gain) Loss on other assets owned	60,000	60,000	(184,000)
Net (accretion) amortization on securities AFS	1,610,000	2,339,000	2,479,000
Net (accretion) amortization on securities HTM	(1,502,000)	(1,953,000)	0
(Gain) Loss on sale and call of securities	0	59,000	(194,000)
(Gain) Loss on equity securities	14,000	468,000	175,000
Provision for credit losses	735,000	1,750,000	1,900,000
Deferred income tax (benefit) expense	(330,000)	313,000	(773,000)
Net (increase) decrease in loans HFS	(788,000)	3,772,000	24,826,000
Net (increase) decrease in accrued interest receivable	(1,115,000)	(2,585,000)	635,000
Net (increase) decrease in BOLI	(754,000)	(714,000)	(648,000)
Net increase (decrease) in accrued interest payable	6,437,000	253,000	(464,000)
Net increase (decrease) in accrued income taxes payable	(527,000)	374,000	(70,000)
Other operating activities, net	(1,715,000)	1,847,000	(1,241,000)
Net cash provided by (used in) operating activities	40,111,000	45,867,000	62,264,000
Activity in securities AFS:
Sales	0	31,762,000	113,524,000
Maturities, principal repayments, and calls	151,110,000	70,531,000	99,175,000
Purchases	(96,439,000)	(313,514,000)	(389,493,000)
Activity in securities HTM:
Maturities, principal repayments, and calls	11,949,000	16,580,000	0
Sale of equity securities	7,000,000	7,399,000	0
Purchase of equity securities	0	(10,000,000)	(4,000,000)
Sale of nonmarketable equity securities	2,178,000	0	0
Purchase of nonmarketable equity securities	(792,000)	(28,000)	(3,000)
Capital contribution in partnerships	(1,819,000)	(892,000)	(173,000)
Net (increase) decrease in loans HFI	(77,042,000)	(232,733,000)	(96,327,000)
Purchase of bank owned life insurance	0	0	(5,000,000)
Proceeds from sales of foreclosed assets	15,000	641,000	563,000
Proceeds from sales of premises and equipment	15,000	0	483,000
Purchases of premises and equipment	(4,916,000)	(8,444,000)	(3,427,000)
Net cash provided by (used in) investing activities	(8,741,000)	(438,698,000)	(284,678,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits	2,952,000	(111,412,000)	569,988,000
Proceeds from other borrowed funds	60,000,000	0	0
Repayments of other borrowed funds	(60,000,000)	0	0
Repurchase of common stock	(4,999,000)	(218,000)	(7,878,000)
Cash dividends	(2,289,000)	(2,011,000)	(2,033,000)
Net cash provided by (used in) financing activities	(4,336,000)	(113,641,000)	560,077,000
Net change in cash and cash equivalents	27,034,000	(506,472,000)	337,663,000
Cash and cash equivalents - beginning of year	278,392,000	784,864,000	447,201,000
Cash and cash equivalents - end of year	305,426,000	278,392,000	784,864,000
Cash paid during the year for:
Interest	25,693,000	7,483,000	6,080,000
Income taxes	8,999,000	7,351,000	7,989,000
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES
Assets acquired in settlement of loans	146,000	0	266,000
Transfers of investment securities from AFS to HTM, prior to market value adjustment	$ 0	$ 184,238,000	$ 0

Parent Company Financial Statements - Schedule of Condensed Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INTEREST AND DIVIDEND INCOME
Dividend income from subsidiaries	$ 32,041	$ 30,324	$ 28,471	$ 27,732	$ 26,982	$ 24,886	$ 22,498	$ 20,009	$ 118,568	$ 94,375	$ 77,339
Net Interest Income	21,294	20,725	21,510	22,909	23,674	23,088	21,149	18,728	86,438	86,639	71,722
NONINTEREST INCOME
Other income (loss)									259	168	271
Total Noninterest Income	5,187	5,581	6,007	4,340	4,619	4,867	4,860	4,402	21,114	18,747	24,493
OPERATING EXPENSES
Technology expenses									2,759	2,763	2,810
Legal and professional expenses									2,378	1,997	1,683
Advertising									1,302	1,134	921
Other operating expenses									3,955	3,923	3,767
Income Before Income Tax Expense									42,944	44,981	40,060
Income tax expense (benefit)	1,916	1,870	2,117	2,163	2,270	2,128	2,141	1,526	8,065	8,065	7,108
Net Income	$ 8,292	$ 8,021	$ 8,968	$ 9,598	$ 10,191	$ 10,186	$ 9,147	$ 7,392	34,879	36,916	32,952
Parent Company
INTEREST AND DIVIDEND INCOME
Dividend income from subsidiaries									2,500	0	0
Net Interest Income									2,500	0	0
NONINTEREST INCOME
Other income (loss)									2	1	0
Total Noninterest Income									2	1	0
OPERATING EXPENSES
Technology expenses									105	52	88
Legal and professional expenses									764	837	571
Advertising									0	2	2
Other operating expenses									89	32	15
Total Operating Expenses									958	923	676
Income Before Income Tax Expense									1,544	(922)	(676)
Income tax expense (benefit)									(201)	(194)	(143)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries									1,745	(728)	(533)
Equity in undistributed earnings of subsidiaries									33,134	37,644	33,485
Net Income									$ 34,879	$ 36,916	$ 32,952

Securities

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Securities

Securities are classified as AFS, HTM, and equity securities. Total securities were $714.3 million as of December 31, 2023.

Securities AFS and Securities HTM

Securities AFS and securities HTM are debt securities. Securities AFS are held for indefinite periods of time and are carried at estimated fair value. As of December 31, 2023, the estimated fair value of securities AFS was $570.1 million. The net unrealized loss on securities AFS decreased $12.0 million for the year ended December 31, 2023, resulting in a net unrealized loss of $62.2 million as of December 31, 2023.

Securities HTM, which the Company has the intent and ability to hold until maturity, are carried at amortized cost. As of December 31, 2023, the amortized cost of securities HTM was $141.2 million.

Investment activity for the year ended December 31, 2023, included $163.1 million in maturities, principal repayments, and calls, partially offset by $96.4 million of securities purchased. There were no sales of securities AFS, and there were no purchases or sales of securities HTM for the same period.

The amortized cost and estimated fair value of securities AFS and securities HTM are summarized in the following tables:


	December 31, 2023
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	288,793	$	395	$	(31,228)	$	257,960
Municipal bonds	211,848		13		(27,732)		184,129
U.S. Treasury securities	92,054		—		(1,912)		90,142
U.S. agency securities	39,563		5		(1,707)		37,861
Total Securities AFS	$	632,258	$	413	$	(62,579)	$	570,092

Securities HTM:
Mortgage-backed securities	$	140,314	$	—	$	(22,098)	$	118,216
U.S. agency securities	922		—		(109)		813
Total Securities HTM	$	141,236	$	—	$	(22,207)	$	119,029


	December 31, 2022
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	272,253	$	—	$	(31,272)	$	240,981
Municipal bonds	219,305		6		(35,219)		184,092
U.S. Treasury securities	176,380		—		(5,902)		170,478
U.S. agency securities	20,601		—		(1,745)		18,856
Total Securities AFS	$	688,539	$	6	$	(74,138)	$	614,407

Securities HTM:
Mortgage-backed securities	$	150,771	$	—	$	(19,142)	$	131,629
U.S. agency securities	912		—		(134)		778
Total Securities HTM	$	151,683	$	—	$	(19,276)	$	132,407


	December 31, 2023
(in thousands)	Amortized Cost		Fair Value
Securities AFS:
Within one year	$	82,041	$	80,724
After one year but within five years	52,531		50,789
After five years but within ten years	95,362		89,073
After ten years	402,324		349,506
Total Securities AFS	$	632,258	$	570,092

Securities HTM:
Within one year	$	—	$	—
After one year but within five years	—		—
After five years but within ten years	922		813
After ten years	140,314		118,216
Total Securities HTM	$	141,236	$	119,029

Accounting for Credit Losses – Securities AFS and Securities HTM

The Company evaluates securities AFS for impairment when there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Due to the zero credit loss assumption and the considerations applied to the securities AFS, no ACL was recorded on January 1, 2023, and there was no ACL for securities AFS as of December 31, 2023. Also, as part of the Company’s evaluation of its intent and ability to hold investments for a period of time sufficient to allow for any anticipated recovery in the market, the Company considers its investment strategy, cash flow needs, liquidity position, capital adequacy, and interest rate risk position. Management does not intend to sell these securities prior to recovery, and it is more likely than not that the Company will have the ability to hold them, primarily due to adequate liquidity, until each security has recovered its cost basis.

Due to the zero credit loss assumption on the securities HTM portfolio, no ACL was recorded on January 1, 2023, and there was no ACL for securities HTM as of December 31, 2023.

Accrued interest receivable totaled $3.0 million as of December 31, 2023 and December 31, 2022, for securities AFS and securities HTM and was reported in accrued interest receivable on the consolidated balance sheets.


	December 31, 2023
	Less than twelve months				Twelve months or more
(in thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	(35)	$	19,383	$	(31,193)	$	206,518
Municipal bonds	(83)		4,815		(27,649)		176,098
U.S. Treasury securities	—		—		(1,912)		90,142
U.S. agency securities	(82)		19,301		(1,625)		14,475
Total Securities AFS	$	(200)	$	43,499	$	(62,379)	$	487,233

Securities HTM:
Mortgage-backed securities	$	—	$	—	$	(22,098)	$	118,216
U.S. agency securities	—		—		(109)		813
Total Securities HTM	$	—	$	—	$	(22,207)	$	119,029

	December 31, 2022
	Less than twelve months				Twelve months or more
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities AFS:
Mortgage-backed securities	$	(10,214)	$	105,030	$	(21,058)	$	135,607
Municipal bonds	(11,340)		84,691		(23,879)		98,607
U.S. Treasury securities	(3,852)		131,107		(2,050)		39,371
U.S. agency securities	(608)		10,289		(1,137)		8,564
Total Securities AFS	$	(26,014)	$	331,117	$	(48,124)	$	282,149

Securities HTM:
Mortgage-backed securities	$	(19,142)	$	131,629	$	—	$	—
U.S. agency securities	(134)		778		—		—
Total Securities HTM	$	(19,276)	$	132,407	$	—	$	—

As of December 31, 2023, the Company held 545 securities AFS and securities HTM that were in unrealized loss positions. The aggregate unrealized loss of these securities as of December 31, 2023, was 10.96% of the amortized cost basis of total debt securities.

The proceeds from sales and calls of debt securities and their gross gain (loss) for the years ended December 31, 2023, 2022, and 2021, are shown below:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Proceeds (1)	$	—	$	41,234	$	120,374
Gross gain	—		64		859
Gross loss	—		(123)		(665)

(1)The proceeds include the gross gain and loss.

Equity Securities

Equity securities are an investment in a CRA mutual fund, consisting primarily of bonds. Equity securities are carried at fair value on the consolidated balance sheets with periodic changes in value recorded through the consolidated statements of income. As of December 31, 2022, equity securities had a fair value of $10.0 million with a recognized loss

of $468,000 for the year ended December 31, 2022. The loss on equity securities during 2022 was due to a significant increase in interest rates. During 2023, the Company sold $7.0 million of the mutual fund. As of December 31, 2023, equity securities had a fair value of $3.0 million with a recognized loss of $14,000 for the year ended December 31, 2023.

Pledged Securities

Securities with carrying values of approximately $230.9 million and $168.2 million were used as collateral as of December 31, 2023 and 2022, respectively.

Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Common Share

Basic EPS is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, after giving retroactive effect to stock splits. Diluted EPS includes accrued but unissued shares relating to the Director Compensation Program, stock options, and restricted stock determined using the treasury stock method. The dilutive EPS calculation assumes all outstanding stock options to purchase common stock have been exercised at the beginning of the year, and the pro forma proceeds from the exercised options and restricted stock are used to purchase common stock at the average fair market valuation price.

The computations of basic and diluted earnings per common share for the Company were as follows:


	Years Ended December 31,
(in thousands, except share amounts)	2023		2022		2021
Numerator:
Net income - basic	$	34,879	$	36,916	$	32,952
Net income - diluted	$	34,879	$	36,916	$	32,952

Denominator:
Weighted average shares outstanding - basic	7,164,314		7,180,975		7,281,136
Plus: Effect of Director Compensation Program	741		1,655		923
Plus: Effect of restricted stock	16,673		14,823		17,661
Weighted average shares outstanding - diluted	7,181,728		7,197,453		7,299,720

Earnings per common share:
Basic	$	4.87	$	5.14	$	4.53
Diluted	$	4.86	$	5.13	$	4.51

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Loan Portfolio Classification Pools

These pools and certain of the inherent risks in the Company’s loan portfolio are summarized in the following table.


Loan Pool			Risk Characteristics
Residential construction			This category consists of loans to residential developers and to individual clients for construction of single-family homes. Risks inherent in this portfolio pool include fluctuations in the value of real estate, project completion risk, and change in market trends.
Commercial construction			This category consists of loans to small and medium-sized businesses to construct owner occupied facilities and developers of commercial real estate investment properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, project completion risk, change in market trends, and the ability to sell the property upon completion.
Farmland			This category consists of loans secured by real estate that is used or usable for agricultural purposes, including land used for crops, livestock production, grazing/pastureland, and timberland. Risks inherent in this portfolio pool include adverse changes in climate, fluctuations in feed and livestock prices, and changes in property values.
Home equity loans and lines			This category consists of home equity loans and lines of credit. Risks inherent in this portfolio pool include local unemployment rates, local residential real estate market conditions, and the interest rate environment.
Secured closed-liens			This category consists of loans secured by primary and secondary liens on residential real estate. Risks inherent in this portfolio pool include local unemployment rates, local residential real estate market conditions, and the interest rate environment. Generally, these loans are for longer terms than home equity loans and lines of credit.
Multifamily			This category consists of loans secured by apartment or residential buildings with five or more units used to accommodate households on a temporary or permanent basis. Risks inherent in this portfolio pool include local unemployment rates, changes in the local economy, and factors that would impact property values.
Owner occupied commercial real estate			This category consists of loans to established operating companies and secured by owner occupied offices and industrial real estate properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, the overall strength of the economy, new job creation trends, environmental contamination, and the quality of the borrower’s management.
Non-owner occupied commercial real estate			This category consists of loans to developers and other persons or entities and secured by non-owner occupied commercial real estate properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, the overall strength of the economy, new job creation trends, tenant vacancy rates, environmental contamination, and the quality of the borrower’s management.
Commercial and industrial			This category consists of secured and unsecured loans to purchase capital equipment, agriculture operating loans, and other business loans for working capital and operating purposes. Secured loans are primarily secured by accounts receivable, inventory, and other business assets. The performance of commercial and industrial loans may be adversely affected by, among other factors, conditions specific to the relevant industry, fluctuations in the value of the collateral, and individual performance factors related to the borrower such as the quality of the borrower’s management.
Consumer			This category consists of loans to individuals for household, family, and other personal use. Risks inherent in this portfolio pool include the borrower’s financial condition, local unemployment rates, local economic conditions, and the interest rate environment.
Tax-exempt			This category consists of loans to political subdivisions primarily of the State of Louisiana including parishes, municipalities, utility districts, school districts, and development authorities. These loans undergo the same underwriting as any of the Company’s other loans and are typically paid for by ad valorem taxes or specific revenue sources.
Other loans			This category consists of loans not included in any other category. Risks inherent in this portfolio pool include local unemployment rates, local economic conditions, and the interest rate environment.

Summary of Impact of Adoption of ASC 326


(in thousands)	December 31, 2022 ALL		Impact of ASC 326 Adoption		January 1, 2023 ACL
Real estate:
Commercial real estate	$	7,720	$	876	$	8,596
One-to-four family residential	5,682		1,231		6,913
Construction and development	1,654		(444)		1,210
Commercial and industrial	4,350		(822)		3,528

Tax-exempt	751		(427)		324
Consumer	471		(136)		335
Total	$	20,628	$	278	$	20,906

Reserve for unfunded commitments	$	—	$	442	$	442

Employee Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Discretionary employer contributions	$ 780	$ 742	$ 721
Benefit plan related liability	$ 3,400	$ 3,000

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Interest and dividend income	$ 32,041	$ 30,324	$ 28,471	$ 27,732	$ 26,982	$ 24,886	$ 22,498	$ 20,009	$ 118,568	$ 94,375	$ 77,339
Interest expense	10,747	9,599	6,961	4,823	3,308	1,798	1,349	1,281	32,130	7,736	5,617
Net Interest Income	21,294	20,725	21,510	22,909	23,674	23,088	21,149	18,728	86,438	86,639	71,722
Provision for credit losses	250	185	300	0	750	600	250	150	735	1,750	1,900
Net Interest Income After Provision for Credit Losses	21,044	20,540	21,210	22,909	22,924	22,488	20,899	18,578	85,703	84,889	69,822
Noninterest income	5,187	5,581	6,007	4,340	4,619	4,867	4,860	4,402	21,114	18,747	24,493
Operating expenses	16,023	16,230	16,132	15,488	15,082	15,041	14,471	14,062	63,873	58,655	54,255
Income tax expense	1,916	1,870	2,117	2,163	2,270	2,128	2,141	1,526	8,065	8,065	7,108
Net Income	$ 8,292	$ 8,021	$ 8,968	$ 9,598	$ 10,191	$ 10,186	$ 9,147	$ 7,392	$ 34,879	$ 36,916	$ 32,952
Earnings per share
Basic (in dollars per share)	$ 1.16	$ 1.12	$ 1.25	$ 1.34	$ 1.42	$ 1.42	$ 1.27	$ 1.03	$ 4.87	$ 5.14	$ 4.53
Diluted (in dollars per share)	$ 1.16	$ 1.12	$ 1.25	$ 1.33	$ 1.42	$ 1.42	$ 1.27	$ 1.03	$ 4.86	$ 5.13	$ 4.51

Regulatory Capital Requirements (Tables)

12 Months Ended

Dec. 31, 2023

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Schedule of Compliance With Regulatory Capital Requirements Under Banking Regulations

Capital amounts and ratios for the Company as of December 31, 2023 and 2022, are presented in the following table:


					Regulatory Requirement
	Actual				Minimum(1)
(dollars in thousands)	Amount		Ratio		Amount		Ratio
December 31, 2023
Total Risk-Based Capital	$	384,577	18.28	%	$	220,905	10.50	%
Tier I Risk-Based Capital	$	362,799	17.24	%	$	178,828	8.50	%
Common Equity Tier I Capital	$	362,799	17.24	%	$	147,270	7.00	%
Tier I Leverage Capital	$	362,799	11.56	%	$	125,575	4.00	%

December 31, 2022
Total Risk-Based Capital	$	356,001	17.39	%	N/A		N/A
Tier I Risk-Based Capital	$	335,373	16.38	%	N/A		N/A
Common Equity Tier I Capital	$	335,373	16.38	%	N/A		N/A
Tier I Leverage Capital	$	335,373	10.71	%	N/A		N/A

(1)Due to the full phase-in of the CCB, these are the Basel III regulatory minimum amounts and ratios. These amounts and ratios were labeled as “Minimum Plus CCB” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and prior filings.

Capital amounts and ratios for the Bank as of December 31, 2023 and 2022, are presented in the following table:


					Regulatory Requirements
	Actual				Minimum(1)				Well-Capitalized(2)
(dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
December 31, 2023
Total Risk-Based Capital	$	378,582	18.00	%	$	220,850	10.50	%	$	210,333	10.00	%
Tier I Risk-Based Capital	$	356,804	16.96	%	$	178,783	8.50	%	$	168,266	8.00	%
Common Equity Tier I Capital	$	356,804	16.96	%	$	147,233	7.00	%	$	136,716	6.50	%
Tier I Leverage Capital	$	356,804	11.37	%	$	125,538	4.00	%	$	156,923	5.00	%

December 31, 2022
Total Risk-Based Capital	$	344,867	16.85	%	$	214,915	10.50	%	$	204,681	10.00	%
Tier I Risk-Based Capital	$	324,239	15.84	%	$	173,979	8.50	%	$	163,745	8.00	%
Common Equity Tier I Capital	$	324,239	15.84	%	$	143,277	7.00	%	$	133,043	6.50	%
Tier I Leverage Capital	$	324,239	10.35	%	$	125,252	4.00	%	$	156,565	5.00	%

(2)This column refers to the prompt corrective action requirements applicable to banks.

Income Tax Expense

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Tax Expense

The components of income tax expense for the years ended December 31, 2023, 2022, and 2021, were as follows:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Current tax expense	$	8,395	$	7,752	$	7,881
Deferred tax expense (benefit)	(330)		313		(773)
Income tax expense	$	8,065	$	8,065	$	7,108


	December 31,
	2023				2022				2021
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Income before income tax expense	$	42,944	100.0	%	$	44,981	100.0	%	$	40,060	100.0	%

U.S. federal income tax expense	9,018		21.0	%	9,446		21.0	%	8,413		21.0	%
Nontaxable income	(1,073)		(2.5	%)	(1,338)		(3.0	%)	(1,347)		(3.4	%)
Nondeductible expenses	67		0.2	%	50		0.1	%	38		0.1	%

Other	53		0.1	%	(93)		(0.2	%)	4		—	%
Income tax expense	$	8,065	18.8	%	$	8,065	17.9	%	$	7,108	17.7	%

The Company records deferred income taxes on the tax effect of changes in temporary differences. Deferred tax assets (liabilities) are subject to a valuation allowance unless their realization is more likely than not. The deferred tax assets (liabilities) were comprised of the following as of December 31, 2023 and 2022:


	December 31,
(in thousands)	2023		2022
Depreciation	$	(2,542)	$	(2,435)

FHLB of Dallas stock dividends	(20)		(22)

Gross deferred tax liability	(2,562)		(2,457)
Allowance for credit losses	4,541		4,190
Allowance for operational losses	54		34
Health insurance self fund	221		52
Deferred compensation	708		620
Net unrealized loss on securities	16,081		18,917
Equity security valuation	35		4
Advance payment	197		325
Accrued bonus	502		448
Other	72		40
Gross deferred tax asset	22,411		24,630
Net deferred tax asset (liability)	$	19,849	$	22,173

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Fair Value - Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	$ 570,092	$ 614,407
Equity securities, at fair value	2,965	9,979
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	257,960	240,981
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	184,129	184,092
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	90,142	170,478
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	37,861	18,856
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Securities AFS	0	0
Equity securities, at fair value	2,965	9,979
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	1,306	518
Securities AFS	570,092	614,407
Equity securities, at fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Securities AFS	0	0
Equity securities, at fair value	0	0
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	1,306	518
Equity securities, at fair value	2,965	9,979
Recurring \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	257,960	240,981
Recurring \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	184,129	184,092
Recurring \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	90,142	170,478
Recurring \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	37,861	18,856
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Equity securities, at fair value	2,965	9,979
Recurring \| Level 1 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 1 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 1 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 1 \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	1,306	518
Equity securities, at fair value	0	0
Recurring \| Level 2 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	257,960	240,981
Recurring \| Level 2 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	184,129	184,092
Recurring \| Level 2 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	90,142	170,478
Recurring \| Level 2 \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	37,861	18,856
Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans HFS	0	0
Equity securities, at fair value	0	0
Recurring \| Level 3 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 3 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 3 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	0	0
Recurring \| Level 3 \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities AFS	$ 0	$ 0

Fair Value (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets Measured on Recurring Basis

The table below presents the recorded amount of assets measured at fair value on a recurring basis:


(in thousands)	Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Loans HFS	$	1,306	$	—	$	1,306	$	—
Securities AFS:
Mortgage-backed securities	$	257,960	$	—	$	257,960	$	—
Municipal bonds	$	184,129	$	—	$	184,129	$	—
U.S. Treasury securities	$	90,142	$	—	$	90,142	$	—
U.S. agency securities	$	37,861	$	—	$	37,861	$	—
Equity securities	$	2,965	$	2,965	$	—	$	—

December 31, 2022
Loans HFS	$	518	$	—	$	518	$	—
Securities AFS:
Mortgage-backed securities	$	240,981	$	—	$	240,981	$	—
Municipal bonds	$	184,092	$	—	$	184,092	$	—
U.S. Treasury securities	$	170,478	$	—	$	170,478	$	—
U.S. agency securities	$	18,856	$	—	$	18,856	$	—
Equity securities	$	9,979	$	9,979	$	—	$	—

Schedule of Fair Value of Assets Measured on Nonrecurring Basis

The table below presents certain impaired loans that were remeasured and reported at fair value through the ALL or ACL based upon the fair value of the underlying collateral during the reported periods:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Carrying value of impaired loans before allowance	$	633	$	3,149	$	4,114
Specific allowance	(100)		(306)		(79)
Fair value of impaired loans	$	533	$	2,843	$	4,035

The following table presents foreclosed assets that were remeasured and reported at fair value during the reported periods:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Foreclosed assets remeasured at initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	69	$	—	$	266
Charge-offs	—		—		—
Fair value of foreclosed assets	$	69	$	—	$	266

The following table presents foreclosed assets that were remeasured subsequent to initial recognition and reported at fair value during the reported periods:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Foreclosed assets remeasured subsequent to initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	—	$	—	$	133
Write-downs	—		—		(34)
Fair value of foreclosed assets	$	—	$	—	$	99

Schedule of Inputs Used for the Level 3 Fair Value Measurement

The unobservable inputs used for the Level 3 fair value measurements on a nonrecurring basis were as follows:

(dollars in thousands)

Fair Value

Valuation Technique

Unobservable Input

Discount Ranges

Weighted Average Discount

December 31, 2023

Impaired loans

1,754

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

24.05%

Foreclosed assets

Discounted appraisals

Collateral discounts and costs to sell

N/A

December 31, 2022

Impaired loans

7,254

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

4.16%

Foreclosed assets

—

Discounted appraisals

Collateral discounts and costs to sell

N/A

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments as of December 31, 2023 and 2022, were as follows:


(in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Financial assets:
Cash and due from banks	$	53,062	$	53,062	$	53,062	$	—	$	—
Interest-bearing deposits in other banks	$	252,364	$	252,364	$	252,364	$	—	$	—
Securities AFS	$	570,092	$	570,092	$	—	$	570,092	$	—
Securities HTM	$	141,236	$	119,029	$	—	$	119,029	$	—
Equity securities	$	2,965	$	2,965	$	2,965	$	—	$	—
Nonmarketable equity securities	$	2,239	$	2,239	$	—	$	2,239	$	—
Loans HFS	$	1,306	$	1,306	$	—	$	1,306	$	—
Loans HFI, net of allowance	$	1,971,522	$	1,820,573	$	—	$	—	$	1,820,573
Accrued interest receivable	$	9,945	$	9,945	$	—	$	—	$	9,945
Financial liabilities:
Deposits	$	2,801,888	$	2,796,303	$	—	$	2,796,303	$	—
Accrued interest payable	$	8,000	$	8,000	$	—	$	8,000	$	—

December 31, 2022
Financial assets:
Cash and due from banks	$	37,824	$	37,824	$	37,824	$	—	$	—
Interest-bearing deposits in other banks	$	240,568	$	240,568	$	240,568	$	—	$	—
Securities AFS	$	614,407	$	614,407	$	—	$	614,407	$	—
Securities HTM	$	151,683	$	132,407	$	—	$	132,407	$	—
Equity securities	$	9,979	$	9,979	$	9,979	$	—	$	—
Nonmarketable equity securities	$	3,478	$	3,478	$	—	$	3,478	$	—
Loans HFS	$	518	$	518	$	—	$	518	$	—
Loans HFI, net of allowance	$	1,895,639	$	1,807,772	$	—	$	—	$	1,807,772
Accrued interest receivable	$	8,830	$	8,830	$	—	$	—	$	8,830
Financial liabilities:
Deposits	$	2,798,936	$	2,787,198	$	—	$	2,787,198	$	—
Accrued interest payable	$	1,563	$	1,563	$	—	$	1,563	$	—

Loans and Asset Quality - Schedule of Loans Impaired (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Unpaid Principal Balance
With no related allowance recorded:	$ 5,348	$ 2,591
With allowance recorded:	2,310	3,619
Total impaired loans	7,658	6,210
Recorded Investment
With no related allowance recorded:	5,269	2,538
With allowance recorded:	2,299	3,611
Total impaired loans	7,568	6,149
Related Allowance	314	226
Average Recorded Investment
With no related allowance recorded:	4,162	3,267
With allowance recorded:	2,057	3,938
Total impaired loans	6,219	7,205
Interest Income Recognized
With no related allowance recorded:	208	130
With allowance recorded:	44	74
Total impaired loans	252	204
Real estate \| Commercial real estate
Unpaid Principal Balance
With no related allowance recorded:	3,804	1,599
With allowance recorded:	717	3,416
Recorded Investment
With no related allowance recorded:	3,796	1,595
With allowance recorded:	717	3,416
Related Allowance	15	68
Average Recorded Investment
With no related allowance recorded:	3,194	1,969
With allowance recorded:	1,264	2,111
Interest Income Recognized
With no related allowance recorded:	135	78
With allowance recorded:	33	64
Real estate \| One-to-four family residential
Unpaid Principal Balance
With no related allowance recorded:	1,458	483
With allowance recorded:	120	0
Recorded Investment
With no related allowance recorded:	1,387	434
With allowance recorded:	120	0
Related Allowance	16	0
Average Recorded Investment
With no related allowance recorded:	797	539
With allowance recorded:	48	145
Interest Income Recognized
With no related allowance recorded:	68	19
With allowance recorded:	6	0
Real estate \| Construction and development
Unpaid Principal Balance
With no related allowance recorded:	9	501
With allowance recorded:	0	0
Recorded Investment
With no related allowance recorded:	9	501
With allowance recorded:	0	0
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded:	104	400
With allowance recorded:	0	0
Interest Income Recognized
With no related allowance recorded:	0	32
With allowance recorded:	0	0
Commercial and industrial
Unpaid Principal Balance
With no related allowance recorded:	51	0
With allowance recorded:	1,360	85
Recorded Investment
With no related allowance recorded:	51	0
With allowance recorded:	1,351	77
Related Allowance	172	40
Average Recorded Investment
With no related allowance recorded:	58	355
With allowance recorded:	623	1,570
Interest Income Recognized
With no related allowance recorded:	4	0
With allowance recorded:	4	5
Tax-exempt
Unpaid Principal Balance
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Recorded Investment
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Interest Income Recognized
With no related allowance recorded:	0	0
With allowance recorded:	0	0
Consumer
Unpaid Principal Balance
With no related allowance recorded:	26	8
With allowance recorded:	113	118
Recorded Investment
With no related allowance recorded:	26	8
With allowance recorded:	111	118
Related Allowance	111	118
Average Recorded Investment
With no related allowance recorded:	9	4
With allowance recorded:	122	112
Interest Income Recognized
With no related allowance recorded:	1	1
With allowance recorded:	$ 1	$ 5

Income Tax Expense - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current tax expense									$ 8,395	$ 7,752	$ 7,881
Deferred tax expense (benefit)									(330)	313	(773)
Income tax expense	$ 1,916	$ 1,870	$ 2,117	$ 2,163	$ 2,270	$ 2,128	$ 2,141	$ 1,526	$ 8,065	$ 8,065	$ 7,108

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	EISNERAMPER LLP
Auditor Location	Baton Rouge, Louisiana
Auditor Firm ID	274

Employee Benefits	12 Months Ended
Employee Benefits	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits The Company adopted a contributory retirement plan for employees of Red River Bank effective March 1, 1999, and amended effective January 1, 2022. Beginning April 1, 2022, employees have the opportunity to invest a portion of their plan funds in the Company’s common stock through a unitized fund. The contributory retirement plan covers all employees who meet the length of service and the number of hours worked requirements and elect to participate. Discretionary employer contributions during the years ended December 31, 2023, 2022, and 2021, totaled approximately $780,000, $742,000, and 721,000, respectively. The Bank has purchased life insurance policies on certain key employees. The Bank is the beneficiary of the BOLI policies, which have cash surrender value and death benefit components. The Bank uses a portion of the income generated from the BOLI policies to fund the expenses for nonqualified, noncontributory supplemental executive retirement agreements with certain employees. The supplemental executive retirement agreements provide post-retirement benefit payments to those employees. The liability related to these agreements was $3.4 million and $3.0 million as of December 31, 2023 and 2022, respectively, and is recorded in accrued expenses and other liabilities on the consolidated balance sheets.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Stock-Based Compensation Plans - Schedule of Equity Incentive Plan (Details) - 2018 Equity Inventive Plan - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
2018 Plan Number of Shares
Awards available for issuance, beginning balance (in shares)	173,550	181,100
Awards granted (in shares)	(9,300)	(7,550)
Awards forfeited (in shares)	1,850
Awards available for issuance, ending balance (in shares)	166,100	173,550

Premises and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,198	$ 2,076	$ 1,906

Parent Company Financial Statements - Schedule of Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 8,292	$ 8,021	$ 8,968	$ 9,598	$ 10,191	$ 10,186	$ 9,147	$ 7,392	$ 34,879	$ 36,916	$ 32,952
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Other operating activities, net									(1,715)	1,847	(1,241)
Net cash provided by (used in) operating activities									40,111	45,867	62,264
CASH FLOWS FROM INVESTING ACTIVITIES
Capital contribution in partnerships									(1,819)	(892)	(173)
Net cash provided by (used in) investing activities									(8,741)	(438,698)	(284,678)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock									(4,999)	(218)	(7,878)
Cash dividends									(2,289)	(2,011)	(2,033)
Net cash provided by (used in) financing activities									(4,336)	(113,641)	560,077
Net change in cash and cash equivalents									27,034	(506,472)	337,663
Cash and cash equivalents - beginning of year				278,392				784,864	278,392	784,864	447,201
Cash and cash equivalents - end of year	305,426				278,392				305,426	278,392	784,864
Parent Company
CASH FLOWS FROM OPERATING ACTIVITIES
Net income									34,879	36,916	32,952
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Undistributed earnings of subsidiaries									(33,134)	(37,644)	(33,485)
Other operating activities, net									424	322	354
Net cash provided by (used in) operating activities									2,169	(406)	(179)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital contribution in partnerships									(160)	(175)	(173)
Net cash provided by (used in) investing activities									(160)	(175)	(173)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock									(4,999)	(218)	(7,878)
Cash dividends									(2,289)	(2,011)	(2,033)
Net cash provided by (used in) financing activities									(7,288)	(2,229)	(9,911)
Net change in cash and cash equivalents									(5,279)	(2,810)	(10,263)
Cash and cash equivalents - beginning of year				$ 10,795				$ 13,605	10,795	13,605	23,868
Cash and cash equivalents - end of year	$ 5,516				$ 10,795				$ 5,516	$ 10,795	$ 13,605

Fair Value - Assets Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Specific allowance	$ (250)	$ (185)	$ (300)	$ 0	$ (750)	$ (600)	$ (250)	$ (150)	$ (735)	$ (1,750)	$ (1,900)
Remeasured Loans \| Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of impaired loans before allowance									633	3,149	4,114
Specific allowance									(100)	(306)	(79)
Fair value of impaired loans									533	2,843	4,035
Foreclosed assets remeasured at initial recognition:
Carrying value of foreclosed assets prior to remeasurement									69	0	266
Charge-offs									0	0	0
Fair value of foreclosed assets									69	0	266
Remeasured Loans, Subsequent To Initial Recognition \| Nonrecurring \| Level 3
Foreclosed assets remeasured at initial recognition:
Carrying value of foreclosed assets prior to remeasurement									0	0	133
Write-downs									0	0	(34)
Fair value of foreclosed assets									$ 0	$ 0	$ 99

Equity Events	12 Months Ended
Equity Events	Dec. 31, 2023
Equity [Abstract]
Equity Events	Equity Events Cash Dividends As a Louisiana corporation, the Company is subject to certain restrictions on dividends under the Louisiana Business Corporation Act. Generally, a Louisiana corporation may pay dividends to its shareholders unless, after giving effect to the dividend, either: (1) the corporation would not be able to pay its debts as they come due in the usual course of business; or (2) the corporation’s total assets would be less than the sum of its total liabilities and the amount that would be needed, if the corporation were to be dissolved at the time of the payment of the dividend, to satisfy the preferential rights of shareholders whose preferential rights are superior to those receiving the dividend. The Company’s status as a bank holding company also affects its ability to pay dividends in two additional ways. First, since the Company is a holding company with no material business activities of its own, its ability to pay dividends could become dependent upon the ability of Red River Bank to transfer funds to it in the form of dividends, loans, and advances. The Bank’s ability to pay dividends and make other distributions and payments to the Company is itself subject to various legal, regulatory, and other restrictions, and the present and future dividend policy of Red River Bank is subject to the discretion of its board of directors. Second, as a bank holding company, the Company’s payment of dividends must comply with the laws, regulations, and policies of the Federal Reserve. The Federal Reserve has issued a supervisory letter on the payment of cash dividends by bank holding companies, which expresses the Federal Reserve’s view that a bank holding company should pay cash dividends only to the extent that: (1) the holding company’s net income for the past four quarters, net of any dividends previously paid during that period, is sufficient to fully fund the dividends; (2) the prospective rate of earnings retention is consistent with the bank holding company’s capital needs, asset quality, and overall financial condition; and (3) the bank holding company will continue to meet, and is not in danger of failing to meet, minimum regulatory capital adequacy ratios. The ability of Red River Bank to pay dividends on its common stock is restricted by Louisiana Banking Law, the FDIA, and FDIC regulations. In general, the board of directors of a Louisiana state bank may, quarterly, semiannually, or annually, declare or pay dividends on its outstanding capital stock, provided that the bank has surplus at least equal to 50.0% of its capital stock and such surplus will not be reduced below 50.0% following payment of the dividend. Prior approval of the OFI is required for a Louisiana state bank to pay any dividend that would exceed its net profits earned during the current year combined with its retained net profits of the immediately preceding year. In general terms, the FDIA and FDIC regulations restrict the payment of dividends when a bank is undercapitalized, when a bank has failed to pay insurance assessments, or when there are safety and soundness concerns regarding a bank. The Bank and the Company have internal policies regarding dividends. Neither entity would ordinarily pay dividends if following the payment, the entity would not meet minimum capital adequacy plus the CCB requirements. The exception to this policy is in situations where the payment of a dividend from the Bank to the Company is necessary for the Company to be able to meet its obligations, and as long as, after such payment the Bank would still meet minimum capital adequacy requirements. Also, the Company’s internal policy requires that the Company maintain a common stockholders’ equity to total assets ratio of greater than 7.0% and that trust preferred securities are less than 25.0% of capital. Taking into consideration the Company’s performance and capital levels, cash dividends were paid in 2023, 2022, and 2021. Stock Repurchase Programs On November 4, 2022, the Company’s board of directors approved the renewal of the 2022 stock repurchase program that expired on December 31, 2022. The 2023 stock repurchase program authorized the Company to purchase up to $5.0 million of its outstanding shares of common stock from January 1, 2023 through December 31, 2023. For the year ended December 31, 2023, the Company repurchased 101,298 shares of its common stock at an aggregate cost of $5.0 million, and reached the 2023 stock repurchase program purchase limit. Repurchases were made from time to time in the open market at prevailing prices and based on market conditions. As of December 31, 2023, there were no available funds remaining under the 2023 stock repurchase program. On December 14, 2023, the Company’s board of directors approved the renewal of the 2023 stock repurchase program that was completed in the fourth quarter of 2023 after reaching its purchase limit. The 2024 stock repurchase program has similar terms to the 2023 stock repurchase program and authorizes the Company to purchase up to $5.0 million of its outstanding shares of common stock from January 1, 2024 through December 31, 2024. Repurchases may be made from time to time in the open market at prevailing prices and based on market conditions, or in privately negotiated transactions. AOCI - Transfer of Unrealized Gain (Loss) of Securities AFS and HTM During the second quarter of 2022, the Company reclassified $166.3 million, net of $17.9 million of unrealized loss, from AFS to HTM. The securities were transferred at fair value, which became the cost basis for the securities HTM. At the date of transfer, the net unrealized loss of $17.9 million, of which $14.2 million, net of tax, was included in AOCI and is being amortized over the remaining life of the securities as a yield adjustment in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. There were no gains or losses recognized as a result of the transfer. As of December 31, 2023, the net unamortized, unrealized loss remaining on the transferred securities included in the consolidated balance sheets totaled $14.4 million, of which $11.4 million, net of tax, was included in AOCI. CECL Adjustment - Implementation of Current Expected Credit Losses Methodology related to ASU No. 2016-13 On January 1, 2023, the Company adopted the CECL methodology for estimating credit losses. In the first quarter of 2023, the implementation of CECL resulted in a $720,000 adjustment to the ACL and reserve for unfunded commitments, and a $569,000, net of tax, adjustment to retained earnings.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 34,879	$ 36,916	$ 32,952
Other comprehensive income (loss):
Unrealized net gain (loss) on securities arising during period	11,966	(87,342)	(13,343)
Tax effect	(2,512)	18,342	2,802
(Gain) Loss on sale and call of securities included in net income	0	59	(194)
Tax effect	0	(13)	41
Change in unrealized net loss on securities transferred to held-to-maturity	1,542	1,975	0
Tax effect	(324)	(414)	0
Total other comprehensive income (loss)	10,672	(67,393)	(10,694)
Comprehensive Income (Loss)	$ 45,551	$ (30,477)	$ 22,258

Deposits - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Deposits	$ 2,801,888	$ 2,798,936
Securities and federal home loan banks letters of credit, pledged as collateral	$ 287,400	$ 268,600

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Securities available-for-sale, amortized cost	$ 632,258	$ 688,539
Securities available-for-maturity, amortized cost	$ 119,029	$ 132,407
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares, issued (in shares)	7,091,637	7,183,915
Common stock, shares, outstanding (in shares)	7,091,637	7,183,915

Loans and Asset Quality (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Loans Information

Loans HFI by category and loans HFS are summarized below:


	December 31,
(in thousands)	2023		2022
Real estate:
Commercial real estate	$	851,582	$	794,723
One-to-four family residential	599,487		543,511
Construction and development	125,238		157,364
Commercial and industrial	315,327		310,067

Tax-exempt	72,913		83,166
Consumer	28,311		27,436
Total loans HFI	$	1,992,858	$	1,916,267
Total loans HFS	$	1,306	$	518

Schedule of Allowance for Credit Losses

The following table summarizes the activity in the ACL by category for the year ended December 31, 2023:


(in thousands)	Beginning Balance		Impact of ASC 326 Adoption		Provision for Credit Losses		Charge-offs		Recoveries		Ending Balance
Real estate:
Commercial real estate	$	7,720	$	876	$	522	$	—	$	—	$	9,118
One-to-four family residential	5,682		1,231		584		(23)		10		7,484
Construction and development	1,654		(444)		108		(9)		—		1,309
Commercial and industrial	4,350		(822)		(947)		(58)		30		2,553

Tax-exempt	751		(427)		251		—		—		575
Consumer	471		(136)		217		(383)		128		297
Total allowance for credit losses	$	20,628	$	278	$	735	$	(473)	$	168	$	21,336

The following table summarizes the activity in the ALL by category for the year ended December 31, 2022:


(in thousands)	Beginning Balance		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance
Real estate:
Commercial real estate	$	6,749	$	970	$	—	$	1	$	7,720
One-to-four family residential	5,375		296		—		11		5,682
Construction and development	1,326		328		(18)		18		1,654
Commercial and industrial	4,465		(162)		(39)		86		4,350

Tax-exempt	749		2		—		—		751
Consumer	512		316		(490)		133		471
Total allowance for loan losses	$	19,176	$	1,750	$	(547)	$	249	$	20,628

The following table summarizes the activity in the ALL by category for the year ended December 31, 2021:


(in thousands)	Beginning Balance		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance
Real estate:
Commercial real estate	$	5,798	$	1,401	$	(450)	$	—	$	6,749
One-to-four family residential	5,390		(23)		(10)		18		5,375
Construction and development	1,699		(375)		—		2		1,326
Commercial and industrial	3,949		563		(74)		27		4,465

Tax-exempt	680		69		—		—		749
Consumer	435		265		(351)		163		512
Total allowance for loan losses	$	17,951	$	1,900	$	(885)	$	210	$	19,176

The balance in the ACL and the related recorded investment in loans by category as of December 31, 2023, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Total
Allowance for credit losses:
Real estate:
Commercial real estate	$	342	$	8,776	$	9,118
One-to-four family residential	57		7,427		7,484
Construction and development	—		1,309		1,309
Commercial and industrial	226		2,327		2,553

Tax-exempt	—		575		575
Consumer	104		193		297
Total allowance for credit losses	$	729	$	20,607	$	21,336

Loans:
Real estate:
Commercial real estate	$	1,379	$	850,203	$	851,582
One-to-four family residential	751		598,736		599,487
Construction and development	—		125,238		125,238
Commercial and industrial	972		314,355		315,327

Tax-exempt	—		72,913		72,913
Consumer	140		28,171		28,311
Total loans HFI	$	3,242	$	1,989,616	$	1,992,858

The balance in the ALL and the related recorded investment in loans by category as of December 31, 2022, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Total
Allowance for loan losses:
Real estate:
Commercial real estate	$	15	$	7,705	$	7,720
One-to-four family residential	16		5,666		5,682
Construction and development	—		1,654		1,654
Commercial and industrial	172		4,178		4,350

Tax-exempt	—		751		751
Consumer	111		360		471
Total allowance for loan losses	$	314	$	20,314	$	20,628

Loans:
Real estate:
Commercial real estate	$	4,513	$	790,210	$	794,723
One-to-four family residential	1,507		542,004		543,511
Construction and development	9		157,355		157,364
Commercial and industrial	1,402		308,665		310,067

Tax-exempt	—		83,166		83,166
Consumer	137		27,299		27,436
Total loans HFI	$	7,568	$	1,908,699	$	1,916,267

Schedule of Financing Receivable, Nonaccrual

The following table presents nonaccrual loans as of December 31, 2023:


(in thousands)	Nonaccrual with No ACL		Nonaccrual with ACL		Total Nonaccrual
Real estate:
Commercial real estate	$	—	$	714	$	714
One-to-four family residential	—		269		269
Construction and development	—		—		—
Commercial and industrial	709		135		844

Tax-exempt	—		—		—
Consumer	—		132		132
Total loans HFI	$	709	$	1,250	$	1,959

Schedule of Financing Receivable Past Due and Past Due

The following table presents the aging analysis of the past due loans and loans 90 days or more past due and still accruing interest by loan category as of December 31, 2023:


	Past Due
(in thousands)	30-59 Days		60-89 Days Past Due		90 Days or More		Current		Total Loans HFI		90 Days or More Past Due and Accruing
Real estate:
Commercial real estate	$	36	$	—	$	678	$	850,868	$	851,582	$	—
One-to-four family residential	392		251		409		598,435		599,487		260
Construction and development	—		—		265		124,973		125,238		265
Commercial and industrial	132		60		847		314,288		315,327		45

Tax-exempt	—		—		—		72,913		72,913		—
Consumer	27		16		46		28,222		28,311		4
Total loans HFI	$	587	$	327	$	2,245	$	1,989,699	$	1,992,858	$	574

The following table presents the current, past due, and nonaccrual loans by category as of December 31, 2022:


	Accruing
(in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total Loans
Real estate:
Commercial real estate	$	793,540	$	463	$	—	$	720	$	794,723
One-to-four family residential	542,666		602		—		243		543,511
Construction and development	157,355		—		—		9		157,364
Commercial and industrial	308,611		165		—		1,291		310,067

Tax-exempt	83,166		—		—		—		83,166
Consumer	27,291		42		2		101		27,436
Total loans HFI	$	1,912,629	$	1,272	$	2	$	2,364	$	1,916,267

Schedule of Impaired Financing Receivable

Information pertaining to impaired loans as of and for the year ended December 31, 2022, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Real estate:
Commercial real estate	$	3,804	$	3,796	$	—	$	3,194	$	135
One-to-four family residential	1,458		1,387		—		797		68
Construction and development	9		9		—		104		—
Commercial and industrial	51		51		—		58		4

Tax-exempt	—		—		—		—		—
Consumer	26		26		—		9		1
Total with no related allowance	5,348		5,269		—		4,162		208
With allowance recorded:
Real estate:
Commercial real estate	717		717		15		1,264		33
One-to-four family residential	120		120		16		48		6
Construction and development	—		—		—		—		—
Commercial and industrial	1,360		1,351		172		623		4

Tax-exempt	—		—		—		—		—
Consumer	113		111		111		122		1
Total with related allowance	2,310		2,299		314		2,057		44
Total impaired loans	$	7,658	$	7,568	$	314	$	6,219	$	252

Information pertaining to impaired loans as of and for the year ended December 31, 2021, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Real estate:
Commercial real estate	$	1,599	$	1,595	$	—	$	1,969	$	78
One-to-four family residential	483		434		—		539		19
Construction and development	501		501		—		400		32
Commercial and industrial	—		—		—		355		—

Tax-exempt	—		—		—		—		—
Consumer	8		8		—		4		1
Total with no related allowance	2,591		2,538		—		3,267		130
With allowance recorded:
Real estate:
Commercial real estate	3,416		3,416		68		2,111		64
One-to-four family residential	—		—		—		145		—
Construction and development	—		—		—		—		—
Commercial and industrial	85		77		40		1,570		5

Tax-exempt	—		—		—		—		—
Consumer	118		118		118		112		5
Total with related allowance	3,619		3,611		226		3,938		74
Total impaired loans	$	6,210	$	6,149	$	226	$	7,205	$	204

Schedule of Loan Modification and TDRs

As of December 31, 2023, the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty during the year ended December 31, 2023 is as follows:


	December 31, 2023
(dollars in thousands)		Term Extension		Total Class of Loans Receivable		Financial Effect
Real estate:
Commercial real estate		$	—	—	%
One-to-four family residential		300		0.1	%	Amortization period was extended by a weighted-average of 2.34 years.
Construction and development		—		—	%
Commercial and industrial		—		—	%

Tax-exempt		—		—	%
Consumer		—		—	%
Total		$	300	0.1	%

A summary of current, past due, and nonaccrual TDR loans as of December 31, 2022, is as follows:


(dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total TDRs
Real estate:
Commercial real estate	$	3,197	$	—	$	—	$	42	$	3,239
One-to-four family residential	797		151		—		22		970
Construction and development	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
SBA PPP, net of deferred income	—		—		—		—		—
Tax-exempt	—		—		—		—		—
Consumer	10		—		—		101		111
Total	$	4,004	$	151	$	—	$	165	$	4,320
Number of TDR loans	11		2		—		3		16

A summary of loans modified as TDRs that occurred during the years ended December 31, 2022 and 2021, is as follows:


	December 31, 2022					December 31, 2021
		Recorded Investment					Recorded Investment
(dollars in thousands)	Loan Count	Pre Modification		Post Modification		Loan Count	Pre Modification		Post Modification
Real estate:
Commercial real estate	1	$	50	$	50	1	$	2,174	$	2,184
One-to-four family residential	5	696		699		—	—		—
Construction and development	—	—		—		—	—		—
Commercial and industrial	—	—		—		—	—		—

Tax-exempt	—	—		—		—	—		—
Consumer	1	104		104		1	20		27
Total	7	$	850	$	853	2	$	2,194	$	2,211

Schedule of Financing Receivable by Credit Risk

The following table summarizes loans by risk rating and year of origination as of December 31, 2023:


	Year of Origination
(in thousands)	2023		2022		2021		2020		2019		Prior Years		Revolving Lines		Total
Real estate:
Commercial real estate
Pass	$	124,134	$	256,707	$	239,364	$	76,754	$	63,475	$	61,957	$	18,467	$	840,858
Special mention	73		—		3,186		—		1,031		4,082		—		8,372
Substandard	184		779		675		—		—		714		—		2,352


Total	$	124,391	$	257,486	$	243,225	$	76,754	$	64,506	$	66,753	$	18,467	$	851,582

One-to-four family residential
Pass	$	122,004	$	134,583	$	129,388	$	90,190	$	31,110	$	74,077	$	16,472	$	597,824
Special mention	—		—		—		—		—		261		—		261
Substandard	—		79		—		37		385		827		74		1,402


Total	$	122,004	$	134,662	$	129,388	$	90,227	$	31,495	$	75,165	$	16,546	$	599,487

Construction and development
Pass	$	54,189	$	55,515	$	10,333	$	1,742	$	2,158	$	1,015	$	286	$	125,238
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—


Total	$	54,189	$	55,515	$	10,333	$	1,742	$	2,158	$	1,015	$	286	$	125,238

Commercial and industrial
Pass	$	73,653	$	49,637	$	51,012	$	13,863	$	7,409	$	813	$	107,171	$	303,558
Special mention	1,208		937		4,659		—		310		509		3,173		10,796
Substandard	4		—		59		5		54		51		800		973


Total	$	74,865	$	50,574	$	55,730	$	13,868	$	7,773	$	1,373	$	111,144	$	315,327









Tax-exempt
Pass	$	959	$	15,679	$	8,174	$	13,919	$	4,250	$	29,932	$	—	$	72,913
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—


Total	$	959	$	15,679	$	8,174	$	13,919	$	4,250	$	29,932	$	—	$	72,913

Consumer
Pass	$	16,947	$	6,385	$	2,325	$	858	$	363	$	133	$	1,173	$	28,184
Special mention	—		—		—		—		—		—		—		—
Substandard	—		29		—		—		—		90		8		127


Total	$	16,947	$	6,414	$	2,325	$	858	$	363	$	223	$	1,181	$	28,311

Total loans HFI	$	393,355	$	520,330	$	449,175	$	197,368	$	110,545	$	174,461	$	147,624	$	1,992,858

Current period gross charge-offs	$	12	$	20	$	1	$	—	$	10	$	25	$	405	$	473

The following table summarizes loans by risk rating as of December 31, 2022:


(in thousands)	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Real estate:
Commercial real estate	$	786,394	$	5,759	$	2,570	$	—	$	—	$	794,723
One-to-four family residential	542,112		62		1,337		—		—		543,511
Construction and development	157,355		—		9		—		—		157,364
Commercial and industrial	297,166		11,428		1,473		—		—		310,067

Tax-exempt	83,166		—		—		—		—		83,166
Consumer	27,298		—		138		—		—		27,436
Total loans HFI	$	1,893,491	$	17,249	$	5,527	$	—	$	—	$	1,916,267

Off-Balance Sheet Contractual Obligations and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet Contractual Obligations and Contingencies	Off-Balance Sheet Contractual Obligations and Contingencies The Company is a party to financial instruments with off-balance sheet risk in the normal course of business. The contract or notional amounts of these instruments reflect the extent of the Company’s involvement in particular classes of financial instruments. The Company’s exposure is represented by the contractual amount of these commitments. Investment Commitments In 2014, the Company committed to an investment into an SBIC limited partnership. As of December 31, 2023, there was a $226,000 outstanding commitment to this partnership. In 2020, the Company committed to an additional investment into an SBIC limited partnership. As of December 31, 2023, there was a $2.6 million outstanding commitment to this partnership. In 2021, the Company committed to an investment into a bank technology limited partnership. As of December 31, 2023, there was a $492,000 outstanding commitment to this partnership. Construction Commitment The Company has one committed construction agreement to construct a banking center, and there was approximately $1.6 million remaining on this commitment as of December 31, 2023. Contingencies The Company and the Bank are involved, from time to time, in various legal matters arising in the ordinary course of business. While the outcome of these claims or litigation cannot be determined at this time, in the opinion of management, neither the Company nor the Bank are involved in such legal proceedings that the resolution is expected to have a material adverse effect on the consolidated results of operations, financial condition, or cash flows.

Deposits - Schedule of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Noninterest-bearing demand deposits	$ 916,456	$ 1,090,539
Interest-bearing deposits:
Interest-bearing demand deposits	138,380	89,144
NOW accounts	468,483	503,308
Money market accounts	541,607	578,161
Savings accounts	173,741	195,479
Time deposits less than or equal to $250,000	392,094	250,875
Time deposits greater than $250,000	171,127	91,430
Total interest-bearing deposits	1,885,432	1,708,397
Total Deposits	$ 2,801,888	$ 2,798,936

Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Significant Accounting Policies

Nature of Operations

The Company is a bank holding company headquartered in Alexandria, Louisiana. The Company’s wholly owned bank subsidiary, Red River Bank, is a Louisiana state-chartered bank that provides a fully integrated suite of banking products and services tailored to the needs of commercial and retail customers. As of December 31, 2023, Red River Bank operated from a network of 27 banking centers throughout Louisiana and one combined LDPO in New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria MSA; Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; Acadiana, which includes the Lafayette MSA; and New Orleans.

Basis of Presentation

Operating Segments

Use of Estimates

Acquisition Accounting

Cash and Cash Equivalents

Securities

Equity securities include a CRA mutual fund owned by the Company, which is carried at fair value with any periodic changes in value recorded through the statements of income.

Securities AFS

Securities HTM

Nonmarketable Equity Securities

Nonmarketable equity securities, which include investments in the FHLB of Dallas and First National Banker’s Bank, are carried at cost.

Loans Held for Sale

Residential mortgage loans originated and intended for sale are carried at the lower of cost or estimated fair value on an individual basis. These mortgage loans are pre-sold prior to funding.

Loans Held for Investment

Allowance for Credit Losses - Loans

The portfolio pools are based primarily on regulatory call report codes. These pools and certain of the inherent risks in the Company’s loan portfolio are summarized in the following table.


Loan Pool			Risk Characteristics
Residential construction			This category consists of loans to residential developers and to individual clients for construction of single-family homes. Risks inherent in this portfolio pool include fluctuations in the value of real estate, project completion risk, and change in market trends.
Commercial construction			This category consists of loans to small and medium-sized businesses to construct owner occupied facilities and developers of commercial real estate investment properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, project completion risk, change in market trends, and the ability to sell the property upon completion.
Farmland			This category consists of loans secured by real estate that is used or usable for agricultural purposes, including land used for crops, livestock production, grazing/pastureland, and timberland. Risks inherent in this portfolio pool include adverse changes in climate, fluctuations in feed and livestock prices, and changes in property values.
Home equity loans and lines			This category consists of home equity loans and lines of credit. Risks inherent in this portfolio pool include local unemployment rates, local residential real estate market conditions, and the interest rate environment.
Secured closed-liens			This category consists of loans secured by primary and secondary liens on residential real estate. Risks inherent in this portfolio pool include local unemployment rates, local residential real estate market conditions, and the interest rate environment. Generally, these loans are for longer terms than home equity loans and lines of credit.
Multifamily			This category consists of loans secured by apartment or residential buildings with five or more units used to accommodate households on a temporary or permanent basis. Risks inherent in this portfolio pool include local unemployment rates, changes in the local economy, and factors that would impact property values.
Owner occupied commercial real estate			This category consists of loans to established operating companies and secured by owner occupied offices and industrial real estate properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, the overall strength of the economy, new job creation trends, environmental contamination, and the quality of the borrower’s management.
Non-owner occupied commercial real estate			This category consists of loans to developers and other persons or entities and secured by non-owner occupied commercial real estate properties. Risks inherent in this portfolio pool include fluctuations in the value of real estate, the overall strength of the economy, new job creation trends, tenant vacancy rates, environmental contamination, and the quality of the borrower’s management.
Commercial and industrial			This category consists of secured and unsecured loans to purchase capital equipment, agriculture operating loans, and other business loans for working capital and operating purposes. Secured loans are primarily secured by accounts receivable, inventory, and other business assets. The performance of commercial and industrial loans may be adversely affected by, among other factors, conditions specific to the relevant industry, fluctuations in the value of the collateral, and individual performance factors related to the borrower such as the quality of the borrower’s management.
Consumer			This category consists of loans to individuals for household, family, and other personal use. Risks inherent in this portfolio pool include the borrower’s financial condition, local unemployment rates, local economic conditions, and the interest rate environment.
Tax-exempt			This category consists of loans to political subdivisions primarily of the State of Louisiana including parishes, municipalities, utility districts, school districts, and development authorities. These loans undergo the same underwriting as any of the Company’s other loans and are typically paid for by ad valorem taxes or specific revenue sources.
Other loans			This category consists of loans not included in any other category. Risks inherent in this portfolio pool include local unemployment rates, local economic conditions, and the interest rate environment.

Reserve for Unfunded Commitments

Allowance for Loan Losses

Acquired Loans

Foreclosed Assets

Credit Related Financial Information

Premises and Equipment, Net

Bank-Owned Life Insurance

Intangible Assets

Treasury Stock

Comprehensive Income

Stock-Based Compensation Plans

Advertising Cost

Advertising costs are expensed as incurred.

Income Tax

Earnings per Common Share

Revenue Recognition

Additionally, there are no material contract assets or receivables as the Company does not typically enter into long-term revenue contracts with customers.

Accounting Standards Adopted in 2023


(in thousands)	December 31, 2022 ALL		Impact of ASC 326 Adoption		January 1, 2023 ACL
Real estate:
Commercial real estate	$	7,720	$	876	$	8,596
One-to-four family residential	5,682		1,231		6,913
Construction and development	1,654		(444)		1,210
Commercial and industrial	4,350		(822)		3,528

Tax-exempt	751		(427)		324
Consumer	471		(136)		335
Total	$	20,628	$	278	$	20,906

Reserve for unfunded commitments	$	—	$	442	$	442

Due to the zero credit loss assumption on securities AFS and HTM and the considerations applied to the securities AFS, no ACL was recorded on January 1, 2023 for securities AFS or HTM.

Recent Accounting Pronouncements

Reclassification

Stock-Based Compensation Plans - Schedule of Nonvested Restricted Stock (Details) - Restricted stock - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Nonvested Restricted Stock, Number of Shares
Nonvested, Beginning (in shares)	19,855	18,135	17,655
Granted (in shares)	9,300	7,550	7,400
Vested (in shares)	(5,870)	(5,830)	(6,820)
Forfeited (in shares)	(1,940)		(100)
Nonvested, Ending (in shares)	21,345	19,855	18,135
Nonvested Restricted Stock, Weighted Average Grant Date Fair Value
Nonvested, Beginning (in dollars per share)	$ 49.33	$ 45.61	$ 40.73
Granted (in dollars per share)	48.11	53.40	50.55
Vested (in dollars per share)	47.18	43.03	38.40
Forfeited (in dollars per share)	49.51		42.35
Nonvested, Ending (in dollars per share)	$ 49.40	$ 49.33	$ 45.61

Loans and Asset Quality - Schedule of Loans by Risk Rating (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	$ 393,355
2022	520,330
2021	449,175
2020	197,368
2019	110,545
Prior Years	174,461
Revolving Lines	147,624
Total	1,992,858	$ 1,916,267
Current period, gross charge-offs, 2023	12
Current period, gross charge-offs, 2022	20
Current period, gross charge-offs, 2021	1
Current period, gross charge-offs, 2020	0
Current period, gross charge-offs, 2019	10
Current period, gross charge-offs, Prior Years	25
Current period, gross charge-offs, Revolving Lines	405
Current period, gross charge-offs, Total	473
Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		1,893,491
Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		17,249
Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		5,527
Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Real estate \| Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	124,391
2022	257,486
2021	243,225
2020	76,754
2019	64,506
Prior Years	66,753
Revolving Lines	18,467
Total	851,582	794,723
Real estate \| Commercial real estate \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	124,134
2022	256,707
2021	239,364
2020	76,754
2019	63,475
Prior Years	61,957
Revolving Lines	18,467
Total	840,858	786,394
Real estate \| Commercial real estate \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	73
2022	0
2021	3,186
2020	0
2019	1,031
Prior Years	4,082
Revolving Lines	0
Total	8,372	5,759
Real estate \| Commercial real estate \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	184
2022	779
2021	675
2020	0
2019	0
Prior Years	714
Revolving Lines	0
Total	2,352	2,570
Real estate \| Commercial real estate \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Real estate \| Commercial real estate \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Real estate \| One-to-four family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	122,004
2022	134,662
2021	129,388
2020	90,227
2019	31,495
Prior Years	75,165
Revolving Lines	16,546
Total	599,487	543,511
Real estate \| One-to-four family residential \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	122,004
2022	134,583
2021	129,388
2020	90,190
2019	31,110
Prior Years	74,077
Revolving Lines	16,472
Total	597,824	542,112
Real estate \| One-to-four family residential \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior Years	261
Revolving Lines	0
Total	261	62
Real estate \| One-to-four family residential \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	79
2021	0
2020	37
2019	385
Prior Years	827
Revolving Lines	74
Total	1,402	1,337
Real estate \| One-to-four family residential \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Real estate \| One-to-four family residential \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Real estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	54,189
2022	55,515
2021	10,333
2020	1,742
2019	2,158
Prior Years	1,015
Revolving Lines	286
Total	125,238	157,364
Real estate \| Construction and development \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	54,189
2022	55,515
2021	10,333
2020	1,742
2019	2,158
Prior Years	1,015
Revolving Lines	286
Total	125,238	157,355
Real estate \| Construction and development \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior Years	0
Revolving Lines	0
Total	0	0
Real estate \| Construction and development \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior Years	0
Revolving Lines	0
Total	0	9
Real estate \| Construction and development \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Real estate \| Construction and development \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	74,865
2022	50,574
2021	55,730
2020	13,868
2019	7,773
Prior Years	1,373
Revolving Lines	111,144
Total	315,327	310,067
Commercial and industrial \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	73,653
2022	49,637
2021	51,012
2020	13,863
2019	7,409
Prior Years	813
Revolving Lines	107,171
Total	303,558	297,166
Commercial and industrial \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	1,208
2022	937
2021	4,659
2020	0
2019	310
Prior Years	509
Revolving Lines	3,173
Total	10,796	11,428
Commercial and industrial \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	4
2022	0
2021	59
2020	5
2019	54
Prior Years	51
Revolving Lines	800
Total	973	1,473
Commercial and industrial \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Commercial and industrial \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	959
2022	15,679
2021	8,174
2020	13,919
2019	4,250
Prior Years	29,932
Revolving Lines	0
Total	72,913	83,166
Tax-exempt \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	959
2022	15,679
2021	8,174
2020	13,919
2019	4,250
Prior Years	29,932
Revolving Lines	0
Total	72,913	83,166
Tax-exempt \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior Years	0
Revolving Lines	0
Total	0	0
Tax-exempt \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior Years	0
Revolving Lines	0
Total	0	0
Tax-exempt \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Tax-exempt \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	16,947
2022	6,414
2021	2,325
2020	858
2019	363
Prior Years	223
Revolving Lines	1,181
Total	28,311	27,436
Consumer \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	16,947
2022	6,385
2021	2,325
2020	858
2019	363
Prior Years	133
Revolving Lines	1,173
Total	28,184	27,298
Consumer \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior Years	0
Revolving Lines	0
Total	0	0
Consumer \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0
2022	29
2021	0
2020	0
2019	0
Prior Years	90
Revolving Lines	8
Total	$ 127	138
Consumer \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		0
Consumer \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Total		$ 0

Stock-Based Compensation Plans

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Plans

Equity Incentive Plans

On April 17, 2008, the Company adopted its 2008 Plan, which provided for the grant of stock-based awards for key employees and non-employee members of the Company’s board of directors. The 2008 Plan expired on December 31,

2018, and no new awards were granted under this plan after that date. As of December 31, 2020, all granted stock options under the 2008 Plan had been exercised. Effective July 1, 2023, all restricted stock awards had vested or been forfeited and the 2008 Plan was completed.

On October 25, 2018, the Company adopted its 2018 Plan, which was approved by the Company’s shareholders in April of 2019. The 2018 Plan provides for the granting of stock-based awards to key employees, directors, and consultants. The Compensation Committee administers the 2018 Plan, makes determinations with respect to participation, and authorizes stock-based awards under the plan. The maximum number of shares of the Company’s common stock available for issuance under the 2018 Plan was 200,000 shares. The status of the Company’s 2018 Plan is presented below:


			2018 Plan Number of Shares
Awards available for issuance - December 31, 2021			181,100
Awards granted			(7,550)

Awards available for issuance - December 31, 2022			173,550
Awards granted			(9,300)
Awards forfeited			1,850
Awards available for issuance - December 31, 2023			166,100

All disclosures for restricted stock shown below relate to outstanding awards under the 2008 and 2018 Plans.

Restricted Stock Awards

The restricted stock awards issued under the 2008 and 2018 Plans provide common stock to recipients at the grant date. The restrictions vest in twenty percent increments on the first through fifth anniversaries of the grant date. Compensation expense for these grants is recognized ratably over the vesting period of the awards based on the fair value of the stock at the grant date.

During 2023, the Compensation Committee granted 9,300 restricted stock awards with a weighted average fair value of $48.11, and 1,940 restricted stock awards with a weighted average fair value of $49.51 were forfeited. For the year ended December 31, 2023, the compensation expense for the vested restricted stock was $319,000. As of December 31, 2023, there was approximately $880,000 of total unrecognized compensation cost related to restricted stock awards. That cost is expected to be recognized over a weighted average period of 4.3 years.

During 2022, the Compensation Committee granted 7,550 restricted stock awards with a weighted average fair value of $53.40. For the year ended December 31, 2022, the compensation expense for the vested restricted stock was $274,000. As of December 31, 2022, there was approximately $835,000 of total unrecognized compensation cost related to restricted stock awards. That cost was expected to be recognized over a weighted average period of 4.5 years.

For the year ended December 31, 2021, the compensation expense for the vested restricted stock was $269,000.

The Company funds the restricted stock from authorized, but unissued, shares.

The status of the Company’s nonvested restricted stock is presented below:


	Nonvested Restricted Stock
	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested - December 31, 2020	17,655	$	40.73
Granted	7,400	$	50.55
Vested	(6,820)	$	38.40
Forfeited	(100)	$	42.35
Nonvested - December 31, 2021	18,135	$	45.61
Granted	7,550	$	53.40
Vested	(5,830)	$	43.03

Nonvested - December 31, 2022	19,855	$	49.33
Granted	9,300	$	48.11
Vested	(5,870)	$	47.18
Forfeited	(1,940)	$	49.51
Nonvested - December 31, 2023	21,345	$	49.40

Director Compensation Program

The Company has a Director Compensation Program. This program allows directors the option of receiving their board attendance fees in Company stock in lieu of cash. Under the program, director fees are earned and expensed in the year board services are rendered, and the related stock is issued the following year.

The Director Compensation Program stock earned and the issuance of shares as board compensation for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Years Ended December 31,
(dollars in thousands)	2023		2022		2021
Share-based board compensation earned	$	42	$	85	$	50

Issuance of shares of common stock as board compensation:
Number of shares issued	1,660		675		1,075
Equity impact of shares issued	$	85	$	35	$	56

Regulatory Capital Requirements

12 Months Ended

Dec. 31, 2023

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Regulatory Capital Requirements

The Company and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies.

Basel III Capital Requirements

The Company and the Bank are subject to Basel III capital guidelines. Basel III requires the Company and the Bank to maintain certain minimum ratios to meet capital adequacy requirements. It is management’s belief that, as of December 31, 2023, both the Company and the Bank met all capital adequacy requirements under Basel III. Management expects that the capital ratios for the Company and the Bank under Basel III will continue to exceed capital adequacy requirements. Management believes that, as of December 31, 2023, the Bank is well-capitalized under the regulatory framework for prompt corrective action.

Bank holding companies that qualify as “small bank holding companies” under the Policy Statement are exempt from the Federal Reserve’s consolidated capital adequacy ratios at the holding company level and instead are evaluated at the bank level. In May 2018, the Economic Growth Act was enacted. One of the Economic Growth Act’s highlights, with implications for us, was the asset threshold under the Policy Statement being increased from $1.0 billion to $3.0 billion, which benefits bank holding companies by, among various other items, allowing for an 18-month safety and soundness examination cycle as opposed to a 12-month examination cycle, changing to scaled biannual regulatory reporting requirements as opposed to quarterly regulatory reporting requirements, and not subjecting bank holding companies to capital adequacy guidelines on a consolidated basis. Because the Company had less than $3.0 billion in assets as of each of the June 30th measurement dates starting with the Economic Growth Act’s enactment and going through June 30, 2021, the Company has received benefits under the Policy Statement through 2022, except with regard to the timing of the Red River Bank safety and soundness exam by the FDIC and the OFI. Due to the timing of the asset balance determination for the Red River Bank safety and soundness examination, a 12-month examination cycle began in the second half of 2022. As of June 30, 2022 and 2023, the last applicable measurement dates, the Company had more than $3.0 billion in assets. Therefore, effective January 1, 2023, the Company no longer receives any benefits under the Policy Statement and became subject to consolidated capital requirements.

Capital amounts and ratios for the Company as of December 31, 2023 and 2022, are presented in the following table:


					Regulatory Requirement
	Actual				Minimum(1)
(dollars in thousands)	Amount		Ratio		Amount		Ratio
December 31, 2023
Total Risk-Based Capital	$	384,577	18.28	%	$	220,905	10.50	%
Tier I Risk-Based Capital	$	362,799	17.24	%	$	178,828	8.50	%
Common Equity Tier I Capital	$	362,799	17.24	%	$	147,270	7.00	%
Tier I Leverage Capital	$	362,799	11.56	%	$	125,575	4.00	%

December 31, 2022
Total Risk-Based Capital	$	356,001	17.39	%	N/A		N/A
Tier I Risk-Based Capital	$	335,373	16.38	%	N/A		N/A
Common Equity Tier I Capital	$	335,373	16.38	%	N/A		N/A
Tier I Leverage Capital	$	335,373	10.71	%	N/A		N/A

Capital amounts and ratios for the Bank as of December 31, 2023 and 2022, are presented in the following table:


					Regulatory Requirements
	Actual				Minimum(1)				Well-Capitalized(2)
(dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
December 31, 2023
Total Risk-Based Capital	$	378,582	18.00	%	$	220,850	10.50	%	$	210,333	10.00	%
Tier I Risk-Based Capital	$	356,804	16.96	%	$	178,783	8.50	%	$	168,266	8.00	%
Common Equity Tier I Capital	$	356,804	16.96	%	$	147,233	7.00	%	$	136,716	6.50	%
Tier I Leverage Capital	$	356,804	11.37	%	$	125,538	4.00	%	$	156,923	5.00	%

December 31, 2022
Total Risk-Based Capital	$	344,867	16.85	%	$	214,915	10.50	%	$	204,681	10.00	%
Tier I Risk-Based Capital	$	324,239	15.84	%	$	173,979	8.50	%	$	163,745	8.00	%
Common Equity Tier I Capital	$	324,239	15.84	%	$	143,277	7.00	%	$	133,043	6.50	%
Tier I Leverage Capital	$	324,239	10.35	%	$	125,252	4.00	%	$	156,565	5.00	%

(2)This column refers to the prompt corrective action requirements applicable to banks.

Community Bank Leverage Ratio Framework

As part of the directive under the Economic Growth Act, in September 2019, the FDIC and other federal bank regulatory agencies approved the CBLR framework. This optional framework became effective January 1, 2020, and is available to the Company and the Bank as an alternative to the Basel III risk-based capital framework. The CBLR framework provides for a simple measure of capital adequacy for certain community banking organizations. Specifically, depository institutions and depository institution holding companies that have less than $10.0 billion in total consolidated assets and meet other qualifying criteria, including a Tier I leverage ratio of greater than 9.00%, are considered qualifying community banking organizations eligible to opt into the CBLR framework and replace the applicable Basel III risk-based capital requirements.

As of December 31, 2023, the Company and the Bank qualify for the CBLR framework. Management does not intend to utilize the CBLR framework.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheets

PARENT COMPANY

BALANCE SHEETS


(dollars in thousands, except share amounts)	December 31,
	2023		2022
ASSETS
Cash and cash equivalents	$	5,516	$	10,795

Investment in subsidiary bank	297,856		254,619



Other assets	524		370
Total Assets	$	303,896	$	265,784
LIABILITIES



Accrued expenses and other liabilities	45		31
Total Liabilities	45		31
STOCKHOLDERS’ EQUITY
Preferred stock, no par value: Authorized - 1,000,000 shares; None Issued and Outstanding	—		—
Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 7,091,637 and 7,183,915 shares, respectively	55,136		60,050
Additional paid-in capital	2,407		2,088
Retained earnings	306,802		274,781
Accumulated other comprehensive income (loss)	(60,494)		(71,166)
Total Stockholders’ Equity	303,851		265,753
Total Liabilities and Stockholders’ Equity	$	303,896	$	265,784

Schedule of Condensed Statements of Income

PARENT COMPANY

STATEMENTS OF INCOME


(in thousands)	Years ended December 31,
	2023		2022		2021
INTEREST AND DIVIDEND INCOME
Dividend income from subsidiaries	$	2,500	$	—	$	—


Total Interest and Dividend Income	2,500		—		—




NONINTEREST INCOME
Other income	2		1		—
Total Noninterest Income	2		1		—
OPERATING EXPENSES
Technology expenses	105		52		88
Legal and professional expenses	764		837		571
Advertising	—		2		2

Other operating expenses	89		32		15
Total Operating Expenses	958		923		676
Income (Loss) Before Income Tax Expense (Benefit)	1,544		(922)		(676)
Income tax expense (benefit)	(201)		(194)		(143)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries	1,745		(728)		(533)
Equity in undistributed earnings of subsidiaries	33,134		37,644		33,485
Net Income	$	34,879	$	36,916	$	32,952

Schedule of Condensed Statements of Cash Flows

PARENT COMPANY

STATEMENTS OF CASH FLOWS


(in thousands)	Years Ended December 31,
	2023		2022		2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	34,879	$	36,916	$	32,952
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Undistributed earnings of subsidiaries	(33,134)		(37,644)		(33,485)

Other operating activities, net	424		322		354
Net cash provided by (used in) operating activities	2,169		(406)		(179)
CASH FLOWS FROM INVESTING ACTIVITIES

Capital contribution in partnerships	(160)		(175)		(173)
Net cash provided by (used in) investing activities	(160)		(175)		(173)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock	(4,999)		(218)		(7,878)

Cash dividends	(2,289)		(2,011)		(2,033)
Net cash provided by (used in) financing activities	(7,288)		(2,229)		(9,911)
Net change in cash and cash equivalents	(5,279)		(2,810)		(10,263)
Cash and cash equivalents - beginning of year	10,795		13,605		23,868
Cash and cash equivalents - end of year	$	5,516	$	10,795	$	13,605

Loans and Asset Quality - Schedule of Current, Past Due, and Nonaccrual TDR Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan
TDR
Current	$ 4,004
Nonaccrual	165
Total TDRs	$ 4,320
Number of TDR loans
Current \| loan	11
Nonaccrual \| loan	3
Total TDRs \| loan	16
30-89 Days Past Due
TDR
Past Due	$ 151
Number of TDR loans
Past Due \| loan	2
90 Days or More Past Due
TDR
Past Due	$ 0
Number of TDR loans
Past Due \| loan	0
Real estate \| Commercial real estate
TDR
Current	$ 3,197
Nonaccrual	42
Total TDRs	3,239
Real estate \| Commercial real estate \| 30-89 Days Past Due
TDR
Past Due	0
Real estate \| Commercial real estate \| 90 Days or More Past Due
TDR
Past Due	0
Real estate \| One-to-four family residential
TDR
Current	797
Nonaccrual	22
Total TDRs	970
Real estate \| One-to-four family residential \| 30-89 Days Past Due
TDR
Past Due	151
Real estate \| One-to-four family residential \| 90 Days or More Past Due
TDR
Past Due	0
Real estate \| Construction and development
TDR
Current	0
Nonaccrual	0
Total TDRs	0
Real estate \| Construction and development \| 30-89 Days Past Due
TDR
Past Due	0
Real estate \| Construction and development \| 90 Days or More Past Due
TDR
Past Due	0
Commercial and industrial
TDR
Current	0
Nonaccrual	0
Total TDRs	0
Commercial and industrial \| 30-89 Days Past Due
TDR
Past Due	0
Commercial and industrial \| 90 Days or More Past Due
TDR
Past Due	0
SBA PPP, net of deferred income
TDR
Current	0
Nonaccrual	0
Total TDRs	0
SBA PPP, net of deferred income \| 30-89 Days Past Due
TDR
Past Due	0
SBA PPP, net of deferred income \| 90 Days or More Past Due
TDR
Past Due	0
Tax-exempt
TDR
Current	0
Nonaccrual	0
Total TDRs	0
Tax-exempt \| 30-89 Days Past Due
TDR
Past Due	0
Tax-exempt \| 90 Days or More Past Due
TDR
Past Due	0
Consumer
TDR
Current	10
Nonaccrual	101
Total TDRs	111
Consumer \| 30-89 Days Past Due
TDR
Past Due	0
Consumer \| 90 Days or More Past Due
TDR
Past Due	$ 0

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The Company determines if an arrangement is a lease at inception of the contract and assesses the appropriate classification as operating or financing. Operating leases with terms greater than one year are included in right-of-use assets and lease liabilities on the Company’s consolidated balance sheets. Agreements with both lease and non-lease components are accounted for separately, with only the lease component capitalized. Operating right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the term using the interest rate implicit in the contract, when available, or the Company’s incremental collateralized borrowing rate with similar terms.

As of December 31, 2023, the Company maintained seven operating leases on land and buildings for banking center facilities under long-term leases. These operating leases contain renewal options for periods ranging from one to five years that expire at various dates through October 31, 2033, with no residual value guarantees. Future obligations relating to the exercise of renewal options are included in the measurement if, based on the judgment of management, the renewal option is reasonably certain to be exercised. Factors in determining whether an option is reasonably certain of exercise include, but are not limited to, the value of leasehold improvements, the value of the renewal rate compared to

market rates, and the presence of factors that would cause a significant economic penalty to the Company if the option is not exercised. Management reasonably plans to exercise all options, and as such, all renewal options are included in the measurement of the right-of-use assets and operating lease liabilities.

The Company elects to recognize the lease payments on leases with terms of one year or less in its consolidated statements of income on a straight-line basis over the lease term.

For the years ended December 31, 2023, 2022, and 2021, operating lease expenses were $643,000, $628,000, and $549,000, respectively. Operating lease expenses are included as a component of occupancy and equipment expenses within the accompanying consolidated statements of income.

Cash paid for amounts included in the measurement of lease liabilities for operating leases totaled $625,000, $606,000, and $530,000 for the years ended December 31, 2023, 2022, and 2021, respectively.

The table below summarizes other information related to the Company’s operating leases as of and for the year ended December 31, 2023:


	As of and for the Year Ended December 31, 2023
Weighted average remaining operating lease term	6.70 years
Weighted average operating lease discount rate	3.3	%

Future obligations over the primary and renewal option terms of the Company’s long-term operating leases as of December 31, 2023, were as follows:


Years Ending December 31,	Amount
(in thousands)
2024	$	631
2025	657
2026	603
2027	547
2028	549
Thereafter	1,300
Total lease payments	4,287
Less: Imputed interest	(520)
Present value of lease liabilities	$	3,767

The Company’s obligations under financing leases are not material and have not been included in assets and liabilities in the financial statements.

Income Tax Expense - Schedule of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Depreciation	$ (2,542)	$ (2,435)
FHLB of Dallas stock dividends	(20)	(22)
Gross deferred tax liability	(2,562)	(2,457)
Allowance for credit losses	4,541	4,190
Allowance for operational losses	54	34
Health insurance self fund	221	52
Deferred compensation	708	620
Net unrealized loss on securities	16,081	18,917
Equity security valuation	35	4
Advance payment	197	325
Accrued bonus	502	448
Other	72	40
Gross deferred tax asset	22,411	24,630
Net deferred tax asset (liability)	$ 19,849	$ 22,173

Loans and Asset Quality - Schedule of Allowance for Loan Losses and the Related Recorded Investment in Loans by Category (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for credit losses:
Individually Evaluated for Impairment	$ 729		$ 314
Collectively Evaluated for Impairment	20,607		20,314
Total	21,336	$ 20,906	20,628	$ 19,176	$ 17,951
Loans:
Individually Evaluated for Impairment	3,242		7,568
Collectively Evaluated for Impairment	1,989,616		1,908,699
Total	1,992,858		1,916,267
Real estate \| Commercial real estate
Allowance for credit losses:
Individually Evaluated for Impairment	342		15
Collectively Evaluated for Impairment	8,776		7,705
Total	9,118	8,596	7,720	6,749	5,798
Loans:
Individually Evaluated for Impairment	1,379		4,513
Collectively Evaluated for Impairment	850,203		790,210
Total	851,582		794,723
Real estate \| One-to-four family residential
Allowance for credit losses:
Individually Evaluated for Impairment	57		16
Collectively Evaluated for Impairment	7,427		5,666
Total	7,484	6,913	5,682	5,375	5,390
Loans:
Individually Evaluated for Impairment	751		1,507
Collectively Evaluated for Impairment	598,736		542,004
Total	599,487		543,511
Real estate \| Construction and development
Allowance for credit losses:
Individually Evaluated for Impairment	0		0
Collectively Evaluated for Impairment	1,309		1,654
Total	1,309	1,210	1,654	1,326	1,699
Loans:
Individually Evaluated for Impairment	0		9
Collectively Evaluated for Impairment	125,238		157,355
Total	125,238		157,364
Commercial and industrial
Allowance for credit losses:
Individually Evaluated for Impairment	226		172
Collectively Evaluated for Impairment	2,327		4,178
Total	2,553	3,528	4,350	4,465	3,949
Loans:
Individually Evaluated for Impairment	972		1,402
Collectively Evaluated for Impairment	314,355		308,665
Total	315,327		310,067
Tax-exempt
Allowance for credit losses:
Individually Evaluated for Impairment	0		0
Collectively Evaluated for Impairment	575		751
Total	575	324	751	749	680
Loans:
Individually Evaluated for Impairment	0		0
Collectively Evaluated for Impairment	72,913		83,166
Total	72,913		83,166
Consumer
Allowance for credit losses:
Individually Evaluated for Impairment	104		111
Collectively Evaluated for Impairment	193		360
Total	297	$ 335	471	$ 512	$ 435
Loans:
Individually Evaluated for Impairment	140		137
Collectively Evaluated for Impairment	28,171		27,299
Total	$ 28,311		$ 27,436

Deposits - Schedule of Maturities of Outstanding Certificates of Deposit (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Deposits [Abstract]
2024	$ 478,589
2025	56,727
2026	10,823
2027	8,924
2028	4,647
Thereafter	3,511
Total	$ 563,221

Stock-Based Compensation Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 25, 2018
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	9,300	7,550	7,400
Fair value of stock award granted (in dollars per share)	$ 48.11	$ 53.40	$ 50.55
Forfeited (in shares)	1,940		100
Forfeited (in dollars per share)	$ 49.51		$ 42.35
Share-based board compensation earned	$ 319	$ 274	$ 269
Unrecognized compensation cost	$ 880	$ 835
Expected weighted average period of compensation cost recognition (in years)	4 years 3 months 18 days	4 years 6 months
Restricted stock \| Year 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	20.00%
Restricted stock \| Year 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	20.00%
Restricted stock \| Year 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	20.00%
Restricted stock \| Year 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	20.00%
Restricted stock \| Year 5
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	20.00%
2008 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued (in shares)	0	0	0
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued (in shares)	9,300	7,550
Number of shares authorized (in shares)				200,000

Premises and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Components of Premises and Equipment

Components of premises and equipment were as follows:


	December 31,
(in thousands)	2023		2022
Land	$	20,354	$	20,190
Buildings	41,763		33,049
Leasehold improvements	2,815		2,815
Furniture and equipment	14,765		13,729
Vehicles	380		380
Computer equipment	3,623		3,564
Projects in process	927		6,424
Total premises and equipment	84,627		80,151
Less: Accumulated depreciation	(27,539)		(25,768)
Premises and equipment, net	$	57,088	$	54,383

Loans and Asset Quality - Narrative (Details) - USD ($)	12 Months Ended
Loans and Asset Quality - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan origination fees	$ 1,400,000		$ 1,400,000
Accrued interest	5,800,000		6,800,000
Allowance for credit losses	20,628,000	$ 19,176,000	21,336,000	$ 20,906,000	$ 17,951,000
Loans charge-off	0	0
TDRs that subsequently defaulted	0	0
Troubled debt restructure
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	101,000	$ 14,000
Unfunded commitments
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	0		442,000	$ 442,000
Other commitments	377,600,000		372,000,000
Standby letters of credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Other commitments	$ 14,600,000		$ 15,400,000

Fair Value

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair Value Disclosure

Securities AFS, loans HFS, and equity securities are recorded at fair value on a recurring basis. Additionally, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans, foreclosed assets, and other certain assets. The nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets.

ASC 820, Fair Value Measurements and Disclosures indicates that assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels:

•Level 1 pricing represents quotes on the exact financial instrument that is traded in active markets. Quoted prices on actively traded equities, for example, are in this category.

•Level 2 pricing is derived from observable data including market spreads, current and projected rates, prepayment data, and credit quality. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

•Level 3 pricing is derived without the use of observable data. In such cases, mark-to-model strategies are typically employed. Often, these types of instruments have no active market, possess unique characteristics, and are thinly traded.

The Company used the following methods and significant assumptions to estimate fair value:

Securities AFS and Equity Securities: The fair values for securities AFS are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3).

Loans HFS: Residential mortgage loans originated and held for sale are carried at the lower of cost or estimated fair value on an individual basis. The fair values of mortgage loans HFS are based on commitments on hand from investors within

the secondary market for loans with similar characteristics. As such, the fair value adjustments for mortgage loans HFS are recurring Level 2.

Loans HFI: The Company does not record loans HFI at fair value on a recurring basis. However, from time to time, a loan may be considered impaired and an allowance may be established. Loans for which it was probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment using estimated fair value methodologies. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value, and discounted cash flows. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company considers the impaired loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company considers the impaired loan as nonrecurring Level 3.

Foreclosed Assets: Foreclosed assets, consisting of properties obtained through foreclosure or in satisfaction of loans, are reported at fair value, determined on the basis of current appraisals, comparable sales, and other estimates of value obtained principally from independent sources, adjusted for estimated selling costs (Level 2). However, foreclosed assets are considered Level 3 in the fair value hierarchy because management has qualitatively applied a discount due to the size, supply of inventory, and the incremental discounts applied to the appraisals. Management also considers other factors, including changes in absorption rates, length of time the property has been on the market, and anticipated sales values, which have resulted in adjustments to the collateral value estimates indicated in certain appraisals.

Fair Value of Assets Measured on a Recurring Basis

The table below presents the recorded amount of assets measured at fair value on a recurring basis:


(in thousands)	Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Loans HFS	$	1,306	$	—	$	1,306	$	—
Securities AFS:
Mortgage-backed securities	$	257,960	$	—	$	257,960	$	—
Municipal bonds	$	184,129	$	—	$	184,129	$	—
U.S. Treasury securities	$	90,142	$	—	$	90,142	$	—
U.S. agency securities	$	37,861	$	—	$	37,861	$	—
Equity securities	$	2,965	$	2,965	$	—	$	—

December 31, 2022
Loans HFS	$	518	$	—	$	518	$	—
Securities AFS:
Mortgage-backed securities	$	240,981	$	—	$	240,981	$	—
Municipal bonds	$	184,092	$	—	$	184,092	$	—
U.S. Treasury securities	$	170,478	$	—	$	170,478	$	—
U.S. agency securities	$	18,856	$	—	$	18,856	$	—
Equity securities	$	9,979	$	9,979	$	—	$	—

There were no transfers between Level 1, 2, or 3 during the years ended December 31, 2023 or 2022.

Fair Value of Assets and Liabilities Measured on a Nonrecurring Basis

Financial Assets and Financial Liabilities: Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances. Financial assets measured at fair value on a nonrecurring basis include certain impaired collateral dependent loans reported at fair value of the underlying collateral if repayment is expected solely from the collateral. Prior to foreclosure of these loans, fair value of the collateral is estimated using Level 3 inputs based on customized discounting criteria.


	Years Ended December 31,
(in thousands)	2023		2022		2021
Carrying value of impaired loans before allowance	$	633	$	3,149	$	4,114
Specific allowance	(100)		(306)		(79)
Fair value of impaired loans	$	533	$	2,843	$	4,035

The Company had no financial liabilities measured at fair value on a nonrecurring basis during the years ended December 31, 2023, 2022, and 2021.

Nonfinancial Assets and Liabilities: Certain nonfinancial assets and nonfinancial liabilities are measured at fair value on a nonrecurring basis. These include certain foreclosed assets, which are remeasured and reported at fair value through a charge-off to the ACL upon initial recognition as a foreclosed asset. Subsequent to their initial recognition, certain foreclosed assets are remeasured at fair value through an adjustment included in other noninterest income. The fair value of foreclosed assets is estimated using Level 3 inputs based on customized discounting criteria less estimated selling costs.

The following table presents foreclosed assets that were remeasured and reported at fair value during the reported periods:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Foreclosed assets remeasured at initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	69	$	—	$	266
Charge-offs	—		—		—
Fair value of foreclosed assets	$	69	$	—	$	266

The following table presents foreclosed assets that were remeasured subsequent to initial recognition and reported at fair value during the reported periods:


	Years Ended December 31,
(in thousands)	2023		2022		2021
Foreclosed assets remeasured subsequent to initial recognition:
Carrying value of foreclosed assets prior to remeasurement	$	—	$	—	$	133
Write-downs	—		—		(34)
Fair value of foreclosed assets	$	—	$	—	$	99

The Company had no nonfinancial liabilities measured at fair value on a nonrecurring basis during the years ended December 31, 2023, 2022, and 2021.

The unobservable inputs used for the Level 3 fair value measurements on a nonrecurring basis were as follows:

(dollars in thousands)

Fair Value

Valuation Technique

Unobservable Input

Discount Ranges

Weighted Average Discount

December 31, 2023

Impaired loans

1,754

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

24.05%

Foreclosed assets

Discounted appraisals

Collateral discounts and costs to sell

N/A

December 31, 2022

Impaired loans

7,254

Discounted appraisals

Collateral discounts and costs to sell

0% - 100%

4.16%

Foreclosed assets

—

Discounted appraisals

Collateral discounts and costs to sell

N/A

Fair Value of Financial Instruments

The carrying amounts and estimated fair values of financial instruments as of December 31, 2023 and 2022, were as follows:


(in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Financial assets:
Cash and due from banks	$	53,062	$	53,062	$	53,062	$	—	$	—
Interest-bearing deposits in other banks	$	252,364	$	252,364	$	252,364	$	—	$	—
Securities AFS	$	570,092	$	570,092	$	—	$	570,092	$	—
Securities HTM	$	141,236	$	119,029	$	—	$	119,029	$	—
Equity securities	$	2,965	$	2,965	$	2,965	$	—	$	—
Nonmarketable equity securities	$	2,239	$	2,239	$	—	$	2,239	$	—
Loans HFS	$	1,306	$	1,306	$	—	$	1,306	$	—
Loans HFI, net of allowance	$	1,971,522	$	1,820,573	$	—	$	—	$	1,820,573
Accrued interest receivable	$	9,945	$	9,945	$	—	$	—	$	9,945
Financial liabilities:
Deposits	$	2,801,888	$	2,796,303	$	—	$	2,796,303	$	—
Accrued interest payable	$	8,000	$	8,000	$	—	$	8,000	$	—

December 31, 2022
Financial assets:
Cash and due from banks	$	37,824	$	37,824	$	37,824	$	—	$	—
Interest-bearing deposits in other banks	$	240,568	$	240,568	$	240,568	$	—	$	—
Securities AFS	$	614,407	$	614,407	$	—	$	614,407	$	—
Securities HTM	$	151,683	$	132,407	$	—	$	132,407	$	—
Equity securities	$	9,979	$	9,979	$	9,979	$	—	$	—
Nonmarketable equity securities	$	3,478	$	3,478	$	—	$	3,478	$	—
Loans HFS	$	518	$	518	$	—	$	518	$	—
Loans HFI, net of allowance	$	1,895,639	$	1,807,772	$	—	$	—	$	1,807,772
Accrued interest receivable	$	8,830	$	8,830	$	—	$	—	$	8,830
Financial liabilities:
Deposits	$	2,798,936	$	2,787,198	$	—	$	2,787,198	$	—
Accrued interest payable	$	1,563	$	1,563	$	—	$	1,563	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets:
Securities AFS	$ 570,092	$ 614,407
Securities HTM	119,029	132,407
Equity securities	2,965	9,979
Nonmarketable equity securities	2,239	3,478
Level 1
Financial assets:
Cash and due from banks	53,062	37,824
Interest-bearing deposits in other banks	252,364	240,568
Securities AFS	0	0
Securities HTM	0	0
Equity securities	2,965	9,979
Nonmarketable equity securities	0	0
Loans HFS	0	0
Loans HFI, net of allowance	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
Accrued interest payable	0	0
Level 2
Financial assets:
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Securities AFS	570,092	614,407
Securities HTM	119,029	132,407
Equity securities	0	0
Nonmarketable equity securities	2,239	3,478
Loans HFS	1,306	518
Loans HFI, net of allowance	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	2,796,303	2,787,198
Accrued interest payable	8,000	1,563
Level 3
Financial assets:
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Securities AFS	0	0
Securities HTM	0	0
Equity securities	0	0
Nonmarketable equity securities	0	0
Loans HFS	0	0
Loans HFI, net of allowance	1,820,573	1,807,772
Accrued interest receivable	9,945	8,830
Financial liabilities:
Deposits	0	0
Accrued interest payable	0	0
Carrying Amount
Financial assets:
Cash and due from banks	53,062	37,824
Interest-bearing deposits in other banks	252,364	240,568
Securities AFS	570,092	614,407
Securities HTM	141,236	151,683
Equity securities	2,965	9,979
Nonmarketable equity securities	2,239	3,478
Loans HFS	1,306	518
Loans HFI, net of allowance	1,971,522	1,895,639
Accrued interest receivable	9,945	8,830
Financial liabilities:
Deposits	2,801,888	2,798,936
Accrued interest payable	8,000	1,563
Fair Value
Financial assets:
Cash and due from banks	53,062	37,824
Interest-bearing deposits in other banks	252,364	240,568
Securities AFS	570,092	614,407
Securities HTM	119,029	132,407
Equity securities	2,965	9,979
Nonmarketable equity securities	2,239	3,478
Loans HFS	1,306	518
Loans HFI, net of allowance	1,820,573	1,807,772
Accrued interest receivable	9,945	8,830
Financial liabilities:
Deposits	2,796,303	2,787,198
Accrued interest payable	$ 8,000	$ 1,563

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks	$ 53,062	$ 37,824
Interest-bearing deposits in other banks	252,364	240,568
Total Cash and Cash Equivalents	305,426	278,392
Securities available-for-sale, at fair value	570,092	614,407
Securities held-to-maturity, at amortized cost	141,236	151,683
Equity securities, at fair value	2,965	9,979
Nonmarketable equity securities	2,239	3,478
Loans held for sale	1,306	518
Loans held for investment	1,992,858	1,916,267
Allowance for credit losses	(21,336)	(20,628)
Premises and equipment, net	57,088	54,383
Accrued interest receivable	9,945	8,830
Bank-owned life insurance	29,529	28,775
Intangible assets	1,546	1,546
Right-of-use assets	3,629	4,137
Other assets	32,287	30,919
Total Assets	3,128,810	3,082,686
LIABILITIES
Noninterest-bearing deposits	916,456	1,090,539
Interest-bearing deposits	1,885,432	1,708,397
Total Deposits	2,801,888	2,798,936
Accrued interest payable	8,000	1,563
Lease liabilities	3,767	4,258
Accrued expenses and other liabilities	11,304	12,176
Total Liabilities	2,824,959	2,816,933
COMMITMENTS AND CONTINGENCIES	0	0
STOCKHOLDERS’ EQUITY
Preferred stock, no par value: Authorized -1,000,000 shares; None Issued and Outstanding	0	0
Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 7,091,637 and 7,183,915 shares, respectively	55,136	60,050
Additional paid-in capital	2,407	2,088
Retained earnings	306,802	274,781
Accumulated other comprehensive income (loss)	(60,494)	(71,166)
Total Stockholders’ Equity	303,851	265,753
Total Liabilities and Stockholders’ Equity	$ 3,128,810	$ 3,082,686

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2023	Feb. 29, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38888
Entity Registrant Name	Red River Bancshares, Inc.
Entity Incorporation, State or Country Code	LA
Entity Tax Identification Number	72-1412058
Entity Address, Address Line One	1412 Centre Court Drive, Suite 301
Entity Address, City or Town	Alexandria
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	71301
City Area Code	318
Local Phone Number	561-4000
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	RRBI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business Category	false
Entity Emerging Growth Category	true
Entity Ex Transition Period	true
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 234.4
Entity Common Stock, Shares Outstanding		7,092,448
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for the 2024 Annual Meeting of Shareholders of Red River Bancshares, Inc. to be held on May 2, 2024, are incorporated by reference into Part III of this Report to the extent stated herein. Such Definitive Proxy Statement will be filed with the SEC within 120 days after the end of the Registrant’s fiscal year ended December 31, 2023.
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001071236

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Information About Operating Leases

The table below summarizes other information related to the Company’s operating leases as of and for the year ended December 31, 2023:


	As of and for the Year Ended December 31, 2023
Weighted average remaining operating lease term	6.70 years
Weighted average operating lease discount rate	3.3	%

Schedule of Maturity of Operating Lease Liability

Future obligations over the primary and renewal option terms of the Company’s long-term operating leases as of December 31, 2023, were as follows:


Years Ending December 31,	Amount
(in thousands)
2024	$	631
2025	657
2026	603
2027	547
2028	549
Thereafter	1,300
Total lease payments	4,287
Less: Imputed interest	(520)
Present value of lease liabilities	$	3,767

Off-Balance Sheet Contractual Obligations and Contingencies (Details) $ in Thousands	Dec. 31, 2023 USD ($) contract
Unrecorded Unconditional Purchase Obligation [Line Items]
Construction commitment, number of contracts \| contract	1
Construction commitment, amount	$ 1,600
SBIC Partnership, Investment One
Unrecorded Unconditional Purchase Obligation [Line Items]
Investment commitments	226
SBIC Partnership, Investment Two
Unrecorded Unconditional Purchase Obligation [Line Items]
Investment commitments	2,600
Bank Technology Limited Partnership
Unrecorded Unconditional Purchase Obligation [Line Items]
Investment commitments	$ 492

Premises and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Premises and Equipment, Net

Components of premises and equipment were as follows:


	December 31,
(in thousands)	2023		2022
Land	$	20,354	$	20,190
Buildings	41,763		33,049
Leasehold improvements	2,815		2,815
Furniture and equipment	14,765		13,729
Vehicles	380		380
Computer equipment	3,623		3,564
Projects in process	927		6,424
Total premises and equipment	84,627		80,151
Less: Accumulated depreciation	(27,539)		(25,768)
Premises and equipment, net	$	57,088	$	54,383

Depreciation expense amounted to approximately $2.2 million, $2.1 million, and $1.9 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Securities - Schedule of Proceeds from Sales of Securities AFS and Gross Gain (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 0	$ 41,234	$ 120,374
Gross gain	0	64	859
Gross loss	$ 0	$ (123)	$ (665)

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Management has evaluated subsequent events and transactions through March 15, 2024, the date that the financial statements were available to be issued. On March 13, 2024, the Company entered into a privately negotiated stock repurchase agreement for the purchase of 200,000 shares of the Company’s common stock, no par value per share for a total purchase price of approximately $10.0 million. The repurchase was supplemental to the Company’s $5.0 million stock repurchase program and did not impact the amount of permitted repurchases thereunder.

Stock-Based Compensation Plans - Schedule of Director Compensation Program (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based board compensation earned	$ 42	$ 85	$ 50
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based board compensation earned	$ 42	$ 85	$ 50
Issuance of shares of common stock as board compensation:
Number of shares issued (in shares)	1,660	675	1,075
Equity impact of shares issued	$ 85	$ 35	$ 56

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Impact of ASC 326 Adoption	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Impact of ASC 326 Adoption	Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of period (in shares) at Dec. 31, 2020			7,325,333
Balance in the beginning of period at Dec. 31, 2020	$ 285,478		$ 68,055	$ 1,545	$ 208,957		$ 6,921
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	32,952				32,952
Stock incentive plan	269			269
Issuance of restricted shares of common stock through stock incentive plan (in shares)			7,400
Forfeiture of restricted shares of common stock (in shares)			(100)
Issuance of shares of common stock as board compensation (in shares)			1,075
Issuance of shares of common stock as board compensation	56		$ 56
Repurchase of common stock under stock repurchase program (in shares)			(153,553)
Repurchase of common stock under stock repurchase program	(7,878)		$ (7,878)
Cash dividend	(2,033)				(2,033)
Other comprehensive income (loss)	(10,694)						(10,694)
Balance at the end of period (in shares) at Dec. 31, 2021			7,180,155
Balance at the end of period at Dec. 31, 2021	298,150		$ 60,233	1,814	239,876		(3,773)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	36,916				36,916
Stock incentive plan	274			274
Issuance of restricted shares of common stock through stock incentive plan (in shares)			7,550
Issuance of shares of common stock as board compensation (in shares)			675
Issuance of shares of common stock as board compensation	35		$ 35
Repurchase of common stock under stock repurchase program (in shares)			(4,465)
Repurchase of common stock under stock repurchase program	(218)		$ (218)
Cash dividend	(2,011)				(2,011)
Other comprehensive income (loss)	$ (67,393)						(67,393)
Balance at the end of period (in shares) at Dec. 31, 2022	7,183,915		7,183,915
Balance at the end of period at Dec. 31, 2022	$ 265,753		$ 60,050	2,088	274,781		(71,166)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Net income	$ 34,879				34,879	$ (569)
Stock incentive plan	319			319
Issuance of restricted shares of common stock through stock incentive plan (in shares)			9,300
Forfeiture of restricted shares of common stock (in shares)			(1,940)
Issuance of shares of common stock as board compensation (in shares)			1,660
Issuance of shares of common stock as board compensation	$ 85		$ 85
Repurchase of common stock under stock repurchase program (in shares)	(101,298)		(101,298)
Repurchase of common stock under stock repurchase program	$ (4,999)		$ (4,999)
Cash dividend	(2,289)				(2,289)
Other comprehensive income (loss)	$ 10,672						10,672
Balance at the end of period (in shares) at Dec. 31, 2023	7,091,637		7,091,637
Balance at the end of period at Dec. 31, 2023	$ 303,851	$ (569)	$ 55,136	$ 2,407	$ 306,802	$ (569)	$ (60,494)

Loans and Asset Quality

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Loans and Asset Quality

Loans

Loans HFI by category and loans HFS are summarized below:


	December 31,
(in thousands)	2023		2022
Real estate:
Commercial real estate	$	851,582	$	794,723
One-to-four family residential	599,487		543,511
Construction and development	125,238		157,364
Commercial and industrial	315,327		310,067

Tax-exempt	72,913		83,166
Consumer	28,311		27,436
Total loans HFI	$	1,992,858	$	1,916,267
Total loans HFS	$	1,306	$	518

Deferred loan origination fees, net of certain direct costs, were $1.4 million as of December 31, 2023 and 2022.

Accrued interest receivable on loans HFI totaled $6.8 million and $5.8 million as of December 31, 2023 and 2022, respectively, and was reported in accrued interest receivable on the accompanying consolidated balance sheets.

Concentrations of Credit Risk

The majority of the lending activity occurs within the Bank’s Louisiana markets. The Bank maintains a diversified loan portfolio with a focus on commercial real estate, one-to-four family residential real estate, and commercial and industrial loans. Substantially all of the Bank’s real estate loans are secured by properties located within Louisiana.

Allowance for Credit Losses

Effective January 1, 2023, the Company adopted the provisions of ASC 326 using the modified retrospective method. For reporting periods beginning on and after January 1, 2023, the Company maintains an ACL on all loans that reflects management’s estimate of expected credit losses for the full life of the loan portfolio.

The following table summarizes the activity in the ACL by category for the year ended December 31, 2023:


(in thousands)	Beginning Balance		Impact of ASC 326 Adoption		Provision for Credit Losses		Charge-offs		Recoveries		Ending Balance
Real estate:
Commercial real estate	$	7,720	$	876	$	522	$	—	$	—	$	9,118
One-to-four family residential	5,682		1,231		584		(23)		10		7,484
Construction and development	1,654		(444)		108		(9)		—		1,309
Commercial and industrial	4,350		(822)		(947)		(58)		30		2,553

Tax-exempt	751		(427)		251		—		—		575
Consumer	471		(136)		217		(383)		128		297
Total allowance for credit losses	$	20,628	$	278	$	735	$	(473)	$	168	$	21,336

Allowance for Loan Losses

For reporting periods prior to January 1, 2023, the Company maintained an ALL on loans that represented management’s estimate of probable losses incurred in the portfolio category.

The following table summarizes the activity in the ALL by category for the year ended December 31, 2022:


(in thousands)	Beginning Balance		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance
Real estate:
Commercial real estate	$	6,749	$	970	$	—	$	1	$	7,720
One-to-four family residential	5,375		296		—		11		5,682
Construction and development	1,326		328		(18)		18		1,654
Commercial and industrial	4,465		(162)		(39)		86		4,350

Tax-exempt	749		2		—		—		751
Consumer	512		316		(490)		133		471
Total allowance for loan losses	$	19,176	$	1,750	$	(547)	$	249	$	20,628

The following table summarizes the activity in the ALL by category for the year ended December 31, 2021:


(in thousands)	Beginning Balance		Provision for Loan Losses		Charge-offs		Recoveries		Ending Balance
Real estate:
Commercial real estate	$	5,798	$	1,401	$	(450)	$	—	$	6,749
One-to-four family residential	5,390		(23)		(10)		18		5,375
Construction and development	1,699		(375)		—		2		1,326
Commercial and industrial	3,949		563		(74)		27		4,465

Tax-exempt	680		69		—		—		749
Consumer	435		265		(351)		163		512
Total allowance for loan losses	$	17,951	$	1,900	$	(885)	$	210	$	19,176

The balance in the ACL and the related recorded investment in loans by category as of December 31, 2023, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Total
Allowance for credit losses:
Real estate:
Commercial real estate	$	342	$	8,776	$	9,118
One-to-four family residential	57		7,427		7,484
Construction and development	—		1,309		1,309
Commercial and industrial	226		2,327		2,553

Tax-exempt	—		575		575
Consumer	104		193		297
Total allowance for credit losses	$	729	$	20,607	$	21,336

Loans:
Real estate:
Commercial real estate	$	1,379	$	850,203	$	851,582
One-to-four family residential	751		598,736		599,487
Construction and development	—		125,238		125,238
Commercial and industrial	972		314,355		315,327

Tax-exempt	—		72,913		72,913
Consumer	140		28,171		28,311
Total loans HFI	$	3,242	$	1,989,616	$	1,992,858

The balance in the ALL and the related recorded investment in loans by category as of December 31, 2022, are as follows:


(in thousands)	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Total
Allowance for loan losses:
Real estate:
Commercial real estate	$	15	$	7,705	$	7,720
One-to-four family residential	16		5,666		5,682
Construction and development	—		1,654		1,654
Commercial and industrial	172		4,178		4,350

Tax-exempt	—		751		751
Consumer	111		360		471
Total allowance for loan losses	$	314	$	20,314	$	20,628

Loans:
Real estate:
Commercial real estate	$	4,513	$	790,210	$	794,723
One-to-four family residential	1,507		542,004		543,511
Construction and development	9		157,355		157,364
Commercial and industrial	1,402		308,665		310,067

Tax-exempt	—		83,166		83,166
Consumer	137		27,299		27,436
Total loans HFI	$	7,568	$	1,908,699	$	1,916,267

Nonaccrual and Past Due Loans

The following table presents nonaccrual loans as of December 31, 2023:


(in thousands)	Nonaccrual with No ACL		Nonaccrual with ACL		Total Nonaccrual
Real estate:
Commercial real estate	$	—	$	714	$	714
One-to-four family residential	—		269		269
Construction and development	—		—		—
Commercial and industrial	709		135		844

Tax-exempt	—		—		—
Consumer	—		132		132
Total loans HFI	$	709	$	1,250	$	1,959

No material interest income was recognized in the consolidated statements of income on nonaccrual loans for the years ended December 31, 2023, 2022, or 2021.

The following table presents the aging analysis of the past due loans and loans 90 days or more past due and still accruing interest by loan category as of December 31, 2023:


	Past Due
(in thousands)	30-59 Days		60-89 Days Past Due		90 Days or More		Current		Total Loans HFI		90 Days or More Past Due and Accruing
Real estate:
Commercial real estate	$	36	$	—	$	678	$	850,868	$	851,582	$	—
One-to-four family residential	392		251		409		598,435		599,487		260
Construction and development	—		—		265		124,973		125,238		265
Commercial and industrial	132		60		847		314,288		315,327		45

Tax-exempt	—		—		—		72,913		72,913		—
Consumer	27		16		46		28,222		28,311		4
Total loans HFI	$	587	$	327	$	2,245	$	1,989,699	$	1,992,858	$	574

The following table presents the current, past due, and nonaccrual loans by category as of December 31, 2022:


	Accruing
(in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total Loans
Real estate:
Commercial real estate	$	793,540	$	463	$	—	$	720	$	794,723
One-to-four family residential	542,666		602		—		243		543,511
Construction and development	157,355		—		—		9		157,364
Commercial and industrial	308,611		165		—		1,291		310,067

Tax-exempt	83,166		—		—		—		83,166
Consumer	27,291		42		2		101		27,436
Total loans HFI	$	1,912,629	$	1,272	$	2	$	2,364	$	1,916,267

Impaired Loans

For reporting periods prior to January 1, 2023, when ASC 326 was adopted, the Company individually evaluated impaired loans, including TDRs and performing and nonperforming loans. Once a loan was deemed to be impaired, the difference between the loan value and the Bank’s exposure was charged-off or a specific reserve was established.

Information pertaining to impaired loans as of and for the year ended December 31, 2022, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Real estate:
Commercial real estate	$	3,804	$	3,796	$	—	$	3,194	$	135
One-to-four family residential	1,458		1,387		—		797		68
Construction and development	9		9		—		104		—
Commercial and industrial	51		51		—		58		4

Tax-exempt	—		—		—		—		—
Consumer	26		26		—		9		1
Total with no related allowance	5,348		5,269		—		4,162		208
With allowance recorded:
Real estate:
Commercial real estate	717		717		15		1,264		33
One-to-four family residential	120		120		16		48		6
Construction and development	—		—		—		—		—
Commercial and industrial	1,360		1,351		172		623		4

Tax-exempt	—		—		—		—		—
Consumer	113		111		111		122		1
Total with related allowance	2,310		2,299		314		2,057		44
Total impaired loans	$	7,658	$	7,568	$	314	$	6,219	$	252

Information pertaining to impaired loans as of and for the year ended December 31, 2021, is as follows:


(in thousands)	Unpaid Principal Balance		Recorded Investment		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Real estate:
Commercial real estate	$	1,599	$	1,595	$	—	$	1,969	$	78
One-to-four family residential	483		434		—		539		19
Construction and development	501		501		—		400		32
Commercial and industrial	—		—		—		355		—

Tax-exempt	—		—		—		—		—
Consumer	8		8		—		4		1
Total with no related allowance	2,591		2,538		—		3,267		130
With allowance recorded:
Real estate:
Commercial real estate	3,416		3,416		68		2,111		64
One-to-four family residential	—		—		—		145		—
Construction and development	—		—		—		—		—
Commercial and industrial	85		77		40		1,570		5

Tax-exempt	—		—		—		—		—
Consumer	118		118		118		112		5
Total with related allowance	3,619		3,611		226		3,938		74
Total impaired loans	$	6,210	$	6,149	$	226	$	7,205	$	204

Loan Modifications

The Company adopted ASU No. 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures effective January 1, 2023, using the prospective method. This ASU eliminates the TDR recognition and measurement guidance and requires all loan modifications to be evaluated based on whether the modification represents a new loan or a continuation of an existing loan. Modifications are made to a borrower experiencing financial difficulty, and the modified terms are in the form of principal forgiveness, interest rate reduction, other-than-insignificant payment delay, or a term extension in the current reporting period.

As of December 31, 2023, the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty during the year ended December 31, 2023 is as follows:


	December 31, 2023
(dollars in thousands)		Term Extension		Total Class of Loans Receivable		Financial Effect
Real estate:
Commercial real estate		$	—	—	%
One-to-four family residential		300		0.1	%	Amortization period was extended by a weighted-average of 2.34 years.
Construction and development		—		—	%
Commercial and industrial		—		—	%

Tax-exempt		—		—	%
Consumer		—		—	%
Total		$	300	0.1	%

Troubled Debt Restructurings

For reporting periods prior to January 1, 2023, when ASC 326 was adopted, the restructuring of a loan was considered a TDR if the borrower was experiencing financial difficulties and the Bank had granted a concession.

A summary of current, past due, and nonaccrual TDR loans as of December 31, 2022, is as follows:


(dollars in thousands)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonaccrual		Total TDRs
Real estate:
Commercial real estate	$	3,197	$	—	$	—	$	42	$	3,239
One-to-four family residential	797		151		—		22		970
Construction and development	—		—		—		—		—
Commercial and industrial	—		—		—		—		—
SBA PPP, net of deferred income	—		—		—		—		—
Tax-exempt	—		—		—		—		—
Consumer	10		—		—		101		111
Total	$	4,004	$	151	$	—	$	165	$	4,320
Number of TDR loans	11		2		—		3		16

A summary of loans modified as TDRs that occurred during the years ended December 31, 2022 and 2021, is as follows:


	December 31, 2022					December 31, 2021
		Recorded Investment					Recorded Investment
(dollars in thousands)	Loan Count	Pre Modification		Post Modification		Loan Count	Pre Modification		Post Modification
Real estate:
Commercial real estate	1	$	50	$	50	1	$	2,174	$	2,184
One-to-four family residential	5	696		699		—	—		—
Construction and development	—	—		—		—	—		—
Commercial and industrial	—	—		—		—	—		—

Tax-exempt	—	—		—		—	—		—
Consumer	1	104		104		1	20		27
Total	7	$	850	$	853	2	$	2,194	$	2,211

The TDRs described above increased the ALL by $101,000 and $14,000 during the years ended December 31, 2022 and 2021, respectively. Additionally, there were no charge-offs of TDRs in 2022 or 2021, and there were no TDRs that subsequently defaulted in 2022 or 2021.

Credit Quality Indicators

Loans are categorized based on the degree of risk inherent in the credit and the ability of the borrower to service the debt. A description of the general characteristics of the Bank’s risk rating grades follows:

Pass - These loans are of satisfactory quality and do not require a more severe classification.

Special Mention - This category includes loans with potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan. However, the loss potential does not warrant substandard classification.

Substandard - Loans in this category have well-defined weaknesses that jeopardize normal repayment of principal and interest. Prompt corrective action is required to reduce exposure and to assure adequate remedial actions are taken by the borrower. If these weaknesses do not improve, loss is possible.

Doubtful - Loans in this category have well-defined weaknesses that make full collection improbable.

Loss - Loans classified in this category are considered uncollectible and charged-off to the ACL.

As of December 31, 2023, the Company had no loans classified as doubtful or loss. The following table summarizes loans by risk rating and year of origination as of December 31, 2023:


	Year of Origination
(in thousands)	2023		2022		2021		2020		2019		Prior Years		Revolving Lines		Total
Real estate:
Commercial real estate
Pass	$	124,134	$	256,707	$	239,364	$	76,754	$	63,475	$	61,957	$	18,467	$	840,858
Special mention	73		—		3,186		—		1,031		4,082		—		8,372
Substandard	184		779		675		—		—		714		—		2,352


Total	$	124,391	$	257,486	$	243,225	$	76,754	$	64,506	$	66,753	$	18,467	$	851,582

One-to-four family residential
Pass	$	122,004	$	134,583	$	129,388	$	90,190	$	31,110	$	74,077	$	16,472	$	597,824
Special mention	—		—		—		—		—		261		—		261
Substandard	—		79		—		37		385		827		74		1,402


Total	$	122,004	$	134,662	$	129,388	$	90,227	$	31,495	$	75,165	$	16,546	$	599,487

Construction and development
Pass	$	54,189	$	55,515	$	10,333	$	1,742	$	2,158	$	1,015	$	286	$	125,238
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—


Total	$	54,189	$	55,515	$	10,333	$	1,742	$	2,158	$	1,015	$	286	$	125,238

Commercial and industrial
Pass	$	73,653	$	49,637	$	51,012	$	13,863	$	7,409	$	813	$	107,171	$	303,558
Special mention	1,208		937		4,659		—		310		509		3,173		10,796
Substandard	4		—		59		5		54		51		800		973


Total	$	74,865	$	50,574	$	55,730	$	13,868	$	7,773	$	1,373	$	111,144	$	315,327









Tax-exempt
Pass	$	959	$	15,679	$	8,174	$	13,919	$	4,250	$	29,932	$	—	$	72,913
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—


Total	$	959	$	15,679	$	8,174	$	13,919	$	4,250	$	29,932	$	—	$	72,913

Consumer
Pass	$	16,947	$	6,385	$	2,325	$	858	$	363	$	133	$	1,173	$	28,184
Special mention	—		—		—		—		—		—		—		—
Substandard	—		29		—		—		—		90		8		127


Total	$	16,947	$	6,414	$	2,325	$	858	$	363	$	223	$	1,181	$	28,311

Total loans HFI	$	393,355	$	520,330	$	449,175	$	197,368	$	110,545	$	174,461	$	147,624	$	1,992,858

Current period gross charge-offs	$	12	$	20	$	1	$	—	$	10	$	25	$	405	$	473

The following table summarizes loans by risk rating as of December 31, 2022:


(in thousands)	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Real estate:
Commercial real estate	$	786,394	$	5,759	$	2,570	$	—	$	—	$	794,723
One-to-four family residential	542,112		62		1,337		—		—		543,511
Construction and development	157,355		—		9		—		—		157,364
Commercial and industrial	297,166		11,428		1,473		—		—		310,067

Tax-exempt	83,166		—		—		—		—		83,166
Consumer	27,298		—		138		—		—		27,436
Total loans HFI	$	1,893,491	$	17,249	$	5,527	$	—	$	—	$	1,916,267

Commitments to Extend Credit

Commitments to extend credit are agreements to lend to a customer if all conditions of the commitment have been met. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s evaluation of the customer’s ability to repay. Unfunded loan commitments totaled approximately $372.0 million and $377.6 million as of December 31, 2023 and 2022, respectively.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Commitments under standby letters of credit totaled approximately $15.4 million and $14.6 million as of December 31, 2023 and 2022, respectively. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers.

Effective January 1, 2023, the Company adopted the provision of ASC 326 using the modified retrospective method and established a reserve for unfunded commitments based on estimates of expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. As of December 31, 2023, the reserve on unfunded commitments was $442,000.

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)


	2023
(in thousands, except per share data)	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest and dividend income	$	32,041	$	30,324	$	28,471	$	27,732
Interest expense	10,747		9,599		6,961		4,823
Net interest income	21,294		20,725		21,510		22,909
Provision for credit losses	250		185		300		—
Net interest income after provision for credit losses	21,044		20,540		21,210		22,909
Noninterest income	5,187		5,581		6,007		4,340
Operating expenses	16,023		16,230		16,132		15,488
Income tax expense	1,916		1,870		2,117		2,163
Net income	$	8,292	$	8,021	$	8,968	$	9,598
Earnings per share
Basic	$	1.16	$	1.12	$	1.25	$	1.34
Diluted	$	1.16	$	1.12	$	1.25	$	1.33


	2022
(in thousands, except per share data)	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest and dividend income	$	26,982	$	24,886	$	22,498	$	20,009
Interest expense	3,308		1,798		1,349		1,281
Net interest income	23,674		23,088		21,149		18,728
Provision for loan losses	750		600		250		150
Net interest income after provision for loan losses	22,924		22,488		20,899		18,578
Noninterest income	4,619		4,867		4,860		4,402
Operating expenses	15,082		15,041		14,471		14,062
Income tax expense	2,270		2,128		2,141		1,526
Net income	$	10,191	$	10,186	$	9,147	$	7,392
Earnings per share
Basic	$	1.42	$	1.42	$	1.27	$	1.03
Diluted	$	1.42	$	1.42	$	1.27	$	1.03

Other Borrowed Funds (Details) - USD ($)		1 Months Ended
Other Borrowed Funds (Details) - USD ($)	Jun. 30, 2023	Jul. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 975,700,000
Borrowing under the agreements			$ 0	$ 0
Line of Credit
Line of Credit Facility [Line Items]
Proceeds from borrowing	$ 60,000,000
Interest rate (as a percent)	5.49%
Repayment of principal amount		$ 60,000,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Loans and Asset Quality - Schedule of Loans Modified as TDRs That Occurred During Period (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Count \| loan	7	2
Pre Modification	$ 850	$ 2,194
Post Modification	$ 853	$ 2,211
Real estate \| Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Count \| loan	1	1
Pre Modification	$ 50	$ 2,174
Post Modification	$ 50	$ 2,184
Real estate \| One-to-four family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Count \| loan	5	0
Pre Modification	$ 696	$ 0
Post Modification	$ 699	$ 0
Real estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Count \| loan	0	0
Pre Modification	$ 0	$ 0
Post Modification	$ 0	$ 0
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Count \| loan	0	0
Pre Modification	$ 0	$ 0
Post Modification	$ 0	$ 0
Tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Count \| loan	0	0
Pre Modification	$ 0	$ 0
Post Modification	$ 0	$ 0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan Count \| loan	1	1
Pre Modification	$ 104	$ 20
Post Modification	$ 104	$ 27

Significant Accounting Policies - Narrative (Details)		3 Months Ended								12 Months Ended
Significant Accounting Policies - Narrative (Details)	Jan. 01, 2023 USD ($)	Dec. 31, 2023 USD ($) unit	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) bankingCenter segment unit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Variable Interest Entity [Line Items]
Number of banking centers \| bankingCenter										27
Number of operating segments \| segment										1
Number of reportable segments \| segment										1
Foreclosed assets		$ 69,000				$ 0				$ 69,000	$ 0
Goodwill, impairment										$ 0	$ 0
U.S. federal income tax expense (as a percent)										21.00%	21.00%	21.00%
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]										Accounting Standards Update 2016-13 [Member]
Cumulative effect of change in accounting principal		(8,292,000)	$ (8,021,000)	$ (8,968,000)	$ (9,598,000)	(10,191,000)	$ (10,186,000)	$ (9,147,000)	$ (7,392,000)	$ (34,879,000)	$ (36,916,000)	$ (32,952,000)
Allowance for credit losses	$ 20,906,000	21,336,000				20,628,000				21,336,000	20,628,000	19,176,000	$ 17,951,000
Unfunded commitments
Variable Interest Entity [Line Items]
Allowance for credit losses	$ 442,000	$ 442,000				0				442,000	0
Retained Earnings
Variable Interest Entity [Line Items]
Cumulative effect of change in accounting principal										(34,879,000)	(36,916,000)	$ (32,952,000)
Impact of ASC 326 Adoption
Variable Interest Entity [Line Items]
Allowance for credit losses						278,000					278,000
Impact of ASC 326 Adoption \| Unfunded commitments
Variable Interest Entity [Line Items]
Allowance for credit losses						$ 442,000					$ 442,000
Impact of ASC 326 Adoption \| Retained Earnings
Variable Interest Entity [Line Items]
Cumulative effect of change in accounting principal					$ 569,000					$ 569,000
Restricted stock \| Year 1
Variable Interest Entity [Line Items]
Vesting percentage (as a percent)										20.00%
Restricted stock \| Year 2
Variable Interest Entity [Line Items]
Vesting percentage (as a percent)										20.00%
Restricted stock \| Year 3
Variable Interest Entity [Line Items]
Vesting percentage (as a percent)										20.00%
Restricted stock \| Year 4
Variable Interest Entity [Line Items]
Vesting percentage (as a percent)										20.00%
Restricted stock \| Year 5
Variable Interest Entity [Line Items]
Vesting percentage (as a percent)										20.00%
Minimum
Variable Interest Entity [Line Items]
Estimated useful lives of the assets (in years)		3 years								3 years
Minimum \| Multifamily \| Real estate
Variable Interest Entity [Line Items]
Number of units \| unit		5								5
Maximum
Variable Interest Entity [Line Items]
Estimated useful lives of the assets (in years)		40 years								40 years

Parent Company Financial Statements

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Parent Company Financial Statements

PARENT COMPANY

BALANCE SHEETS


(dollars in thousands, except share amounts)	December 31,
	2023		2022
ASSETS
Cash and cash equivalents	$	5,516	$	10,795

Investment in subsidiary bank	297,856		254,619



Other assets	524		370
Total Assets	$	303,896	$	265,784
LIABILITIES



Accrued expenses and other liabilities	45		31
Total Liabilities	45		31
STOCKHOLDERS’ EQUITY
Preferred stock, no par value: Authorized - 1,000,000 shares; None Issued and Outstanding	—		—
Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 7,091,637 and 7,183,915 shares, respectively	55,136		60,050
Additional paid-in capital	2,407		2,088
Retained earnings	306,802		274,781
Accumulated other comprehensive income (loss)	(60,494)		(71,166)
Total Stockholders’ Equity	303,851		265,753
Total Liabilities and Stockholders’ Equity	$	303,896	$	265,784

PARENT COMPANY

STATEMENTS OF INCOME


(in thousands)	Years ended December 31,
	2023		2022		2021
INTEREST AND DIVIDEND INCOME
Dividend income from subsidiaries	$	2,500	$	—	$	—


Total Interest and Dividend Income	2,500		—		—




NONINTEREST INCOME
Other income	2		1		—
Total Noninterest Income	2		1		—
OPERATING EXPENSES
Technology expenses	105		52		88
Legal and professional expenses	764		837		571
Advertising	—		2		2

Other operating expenses	89		32		15
Total Operating Expenses	958		923		676
Income (Loss) Before Income Tax Expense (Benefit)	1,544		(922)		(676)
Income tax expense (benefit)	(201)		(194)		(143)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries	1,745		(728)		(533)
Equity in undistributed earnings of subsidiaries	33,134		37,644		33,485
Net Income	$	34,879	$	36,916	$	32,952

PARENT COMPANY

STATEMENTS OF CASH FLOWS


(in thousands)	Years Ended December 31,
	2023		2022		2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	34,879	$	36,916	$	32,952
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Undistributed earnings of subsidiaries	(33,134)		(37,644)		(33,485)

Other operating activities, net	424		322		354
Net cash provided by (used in) operating activities	2,169		(406)		(179)
CASH FLOWS FROM INVESTING ACTIVITIES

Capital contribution in partnerships	(160)		(175)		(173)
Net cash provided by (used in) investing activities	(160)		(175)		(173)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase of common stock	(4,999)		(218)		(7,878)

Cash dividends	(2,289)		(2,011)		(2,033)
Net cash provided by (used in) financing activities	(7,288)		(2,229)		(9,911)
Net change in cash and cash equivalents	(5,279)		(2,810)		(10,263)
Cash and cash equivalents - beginning of year	10,795		13,605		23,868
Cash and cash equivalents - end of year	$	5,516	$	10,795	$	13,605

Self-Insurance	12 Months Ended
Self-Insurance	Dec. 31, 2023
Insurance [Abstract]
Self-Insurance	Self-Insurance The Company is self-insured for group health insurance. The Company’s liability is limited to the aggregate policy deductible of $135,000 per individual with a maximum of approximately $4.5 million for the group. The Company has reflected its estimated liability for known and incurred but not reported claims in the accompanying financial statements.

Significant Accounting Policies - Summary of Allowance of Credit Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 21,336	$ 20,906	$ 20,628	$ 19,176	$ 17,951
Unfunded commitments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	442	442	0
Real estate \| Commercial real estate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	9,118	8,596	7,720	6,749	5,798
Real estate \| One-to-four family residential
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	7,484	6,913	5,682	5,375	5,390
Real estate \| Construction and development
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	1,309	1,210	1,654	1,326	1,699
Commercial and industrial
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	2,553	3,528	4,350	4,465	3,949
Tax-exempt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	575	324	751	749	680
Consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 297	$ 335	471	$ 512	$ 435
Impact of ASC 326 Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			278
Impact of ASC 326 Adoption \| Unfunded commitments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			442
Impact of ASC 326 Adoption \| Real estate \| Commercial real estate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			876
Impact of ASC 326 Adoption \| Real estate \| One-to-four family residential
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			1,231
Impact of ASC 326 Adoption \| Real estate \| Construction and development
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			(444)
Impact of ASC 326 Adoption \| Commercial and industrial
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			(822)
Impact of ASC 326 Adoption \| Tax-exempt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			(427)
Impact of ASC 326 Adoption \| Consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses			$ (136)

Securities - Schedule of Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Securities AFS:
Amortized Cost	$ 632,258	$ 688,539
Gross Unrealized Gains	413	6
Gross Unrealized Losses	(62,579)	(74,138)
Fair Value	570,092	614,407
Securities HTM:
Amortized Cost	141,236	151,683
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(22,207)	(19,276)
Fair Value	119,029	132,407
Mortgage-backed securities
Securities AFS:
Amortized Cost	288,793	272,253
Gross Unrealized Gains	395	0
Gross Unrealized Losses	(31,228)	(31,272)
Fair Value	257,960	240,981
Securities HTM:
Amortized Cost	140,314	150,771
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(22,098)	(19,142)
Fair Value	118,216	131,629
Municipal bonds
Securities AFS:
Amortized Cost	211,848	219,305
Gross Unrealized Gains	13	6
Gross Unrealized Losses	(27,732)	(35,219)
Fair Value	184,129	184,092
U.S. Treasury securities
Securities AFS:
Amortized Cost	92,054	176,380
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1,912)	(5,902)
Fair Value	90,142	170,478
U.S. agency securities
Securities AFS:
Amortized Cost	39,563	20,601
Gross Unrealized Gains	5	0
Gross Unrealized Losses	(1,707)	(1,745)
Fair Value	37,861	18,856
Securities HTM:
Amortized Cost	922	912
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(109)	(134)
Fair Value	$ 813	$ 778

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 8,292	$ 8,021	$ 8,968	$ 9,598	$ 10,191	$ 10,186	$ 9,147	$ 7,392	$ 34,879	$ 36,916	$ 32,952

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Related Party Transactions

An analysis of loan activity to these related parties is as follows:


	Years Ended December 31,
(in thousands)	2023		2022
Loan balance - beginning of period	$	32,648	$	23,792
New loans	3,773		4,408
Changes in relationships, net	690		10,886
Repayments	(7,053)		(6,438)
Loan balance - end of period	$	30,058	$	32,648

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Bryon C. Salazar [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 3, 2023, Bryon C. Salazar, Executive Vice President - Chief Banking Officer of the Bank and Tammi R. Salazar, Executive Vice President – Chief Operating Officer of the Bank, terminated each of their existing trading plans, which were adopted on December 2, 2022 (the “Prior Plans”). The Prior Plans were adopted to sell a limited amount of the Company’s common stock for tax, estate, and family planning purposes and to provide asset diversification. The Prior Plans provided for the sale of up to 30,114 shares of common stock, collectively, from January 1, 2023, until the sale of all common stock thereunder, unless sooner terminated. The trading plans were intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act applicable at the time of adoption. On November 3, 2023, Mr. and Mrs. Salazar adopted new trading plans intended to satisfy the affirmative defense conditions of amended Rule 10b5-1(c) of the Exchange Act (the “Rule 10b5-1 Trading Arrangements”) and to update the price parameters of the Prior Plans. The Rule 10b5-1 Trading Arrangements were adopted in accordance with the Company’s policies with respect to insider trading to sell a limited amount of the Company’s common stock for tax, estate, and family planning purposes and to provide asset diversification. As of November 3, 2023, Mr. and Mrs. Salazar collectively owned 47,251 shares of the Company’s common stock. The maximum aggregate number of shares of the Company’s common stock that may be sold pursuant to the Rule 10b5-1 Trading Arrangements is collectively 4,726 shares (which is the number of shares that remain unsold under the Prior Plans). Each Rule 10b5-1 Trading Arrangement provides for the potential sale of shares of the Company’s common stock so long as the market price of the Company’s common stock is higher than a certain minimum threshold price specified. Sales under the Rule 10b5-1 Trading Arrangements may begin upon the completion of the required cooling off period under Rule 10b5-1 on March 4, 2024, and will terminate no later than December 31, 2024, unless terminated sooner upon completion of all sales under the Rule 10b5-1 Trading Arrangements or in accordance with the terms. Transactions made under the Rule 10b5–1 Trading Arrangements will be disclosed publicly through Form 4 filings with the SEC.
Name	Bryon C. Salazar
Title	Executive Vice President - Chief Banking Officer of the Bank
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 3, 2023
Rule 10b5-1 Arrangement Terminated	true
Arrangement Duration	424 days
Tammi R. Salazar [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 3, 2023, Bryon C. Salazar, Executive Vice President - Chief Banking Officer of the Bank and Tammi R. Salazar, Executive Vice President – Chief Operating Officer of the Bank, terminated each of their existing trading plans, which were adopted on December 2, 2022 (the “Prior Plans”). The Prior Plans were adopted to sell a limited amount of the Company’s common stock for tax, estate, and family planning purposes and to provide asset diversification. The Prior Plans provided for the sale of up to 30,114 shares of common stock, collectively, from January 1, 2023, until the sale of all common stock thereunder, unless sooner terminated. The trading plans were intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act applicable at the time of adoption. On November 3, 2023, Mr. and Mrs. Salazar adopted new trading plans intended to satisfy the affirmative defense conditions of amended Rule 10b5-1(c) of the Exchange Act (the “Rule 10b5-1 Trading Arrangements”) and to update the price parameters of the Prior Plans. The Rule 10b5-1 Trading Arrangements were adopted in accordance with the Company’s policies with respect to insider trading to sell a limited amount of the Company’s common stock for tax, estate, and family planning purposes and to provide asset diversification. As of November 3, 2023, Mr. and Mrs. Salazar collectively owned 47,251 shares of the Company’s common stock. The maximum aggregate number of shares of the Company’s common stock that may be sold pursuant to the Rule 10b5-1 Trading Arrangements is collectively 4,726 shares (which is the number of shares that remain unsold under the Prior Plans). Each Rule 10b5-1 Trading Arrangement provides for the potential sale of shares of the Company’s common stock so long as the market price of the Company’s common stock is higher than a certain minimum threshold price specified. Sales under the Rule 10b5-1 Trading Arrangements may begin upon the completion of the required cooling off period under Rule 10b5-1 on March 4, 2024, and will terminate no later than December 31, 2024, unless terminated sooner upon completion of all sales under the Rule 10b5-1 Trading Arrangements or in accordance with the terms. Transactions made under the Rule 10b5–1 Trading Arrangements will be disclosed publicly through Form 4 filings with the SEC.
Name	Tammi R. Salazar
Title	Executive Vice President – Chief Operating Officer of the Bank
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 3, 2023
Rule 10b5-1 Arrangement Terminated	true
Arrangement Duration	424 days
Bryon C. Salazar and Tammi R. Salazar [Member]
Trading Arrangements, by Individual
Aggregate Available	4,726	4,726
Prior Plans [Member] \| Bryon C. Salazar [Member]
Trading Arrangements, by Individual
Adoption Date	December 2, 2022
Termination Date	November 3, 2023
Arrangement Duration	336 days
Aggregate Available	30,114	30,114
Prior Plans [Member] \| Tammi R. Salazar [Member]
Trading Arrangements, by Individual
Adoption Date	December 2, 2022
Termination Date	November 3, 2023
Arrangement Duration	336 days
Aggregate Available	30,114	30,114

Securities - Narrative (Details)	12 Months Ended
Securities - Narrative (Details)	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 01, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Securities	$ 714,300,000
Securities available-for-sale, at fair value	570,092,000	$ 614,407,000
Debt securities, unrealized loss	12,000,000
Accumulated unrealized loss on AFS securities	62,200,000
Securities held-to-maturity, at amortized cost	141,236,000	151,683,000
Maturities, principal repayments, and calls	163,100,000
Securities purchased	96,439,000	313,514,000	$ 389,493,000
Securities sold	0	31,762,000	113,524,000
Debt securities, held-to-maturity, sale	0
Debt securities, held-to-maturity, purchase	0
Available-for-sale, allowance for credit loss	0			$ 0
Held-to-maturity, allowance for credit loss	0			$ 0
Accrued interest receivables, available for sale and held to maturity securities	$ 3,000,000	3,000,000
Debt securities, available-for-sale, number of securities in unrealized loss positions \| security	545
Debt securities, held-to-maturity, number of securities in unrealized loss positions \| security	545
Securities in a loss position as a percent of total AFS securities (as a percent)	10.96%
Securities in a loss position as a proportion of total HTM securities (as a percent)	10.96%
Equity securities, at fair value	$ 2,965,000	9,979,000
Loss on equity securities	14,000	468,000	175,000
Sale of equity securities	7,000,000	7,399,000	$ 0
Securities pledged as collateral	$ 230,900,000	$ 168,200,000

Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Equity Incentive Plan and Director Compensation Program

The status of the Company’s 2018 Plan is presented below:


			2018 Plan Number of Shares
Awards available for issuance - December 31, 2021			181,100
Awards granted			(7,550)

Awards available for issuance - December 31, 2022			173,550
Awards granted			(9,300)
Awards forfeited			1,850
Awards available for issuance - December 31, 2023			166,100

The Director Compensation Program stock earned and the issuance of shares as board compensation for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Years Ended December 31,
(dollars in thousands)	2023		2022		2021
Share-based board compensation earned	$	42	$	85	$	50

Issuance of shares of common stock as board compensation:
Number of shares issued	1,660		675		1,075
Equity impact of shares issued	$	85	$	35	$	56

Schedule of Nonvested Restricted Stock

The status of the Company’s nonvested restricted stock is presented below:


	Nonvested Restricted Stock
	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested - December 31, 2020	17,655	$	40.73
Granted	7,400	$	50.55
Vested	(6,820)	$	38.40
Forfeited	(100)	$	42.35
Nonvested - December 31, 2021	18,135	$	45.61
Granted	7,550	$	53.40
Vested	(5,830)	$	43.03

Nonvested - December 31, 2022	19,855	$	49.33
Granted	9,300	$	48.11
Vested	(5,870)	$	47.18
Forfeited	(1,940)	$	49.51
Nonvested - December 31, 2023	21,345	$	49.40

Parent Company Financial Statements - Schedule of Condensed Balance Sheets (Additional Information) (Details) - shares	Dec. 31, 2023	Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares, issued (in shares)	7,091,637	7,183,915
Common stock, shares, outstanding (in shares)	7,091,637	7,183,915
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares, issued (in shares)	7,091,637	7,183,915
Common stock, shares, outstanding (in shares)	7,091,637	7,183,915

Premises and Equipment, Net - Schedule of Components of Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 84,627	$ 80,151
Less: Accumulated depreciation	(27,539)	(25,768)
Premises and equipment, net	57,088	54,383
Land
Property, Plant and Equipment [Line Items]
Total premises and equipment	20,354	20,190
Buildings
Property, Plant and Equipment [Line Items]
Total premises and equipment	41,763	33,049
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment	2,815	2,815
Furniture and equipment
Property, Plant and Equipment [Line Items]
Total premises and equipment	14,765	13,729
Vehicles
Property, Plant and Equipment [Line Items]
Total premises and equipment	380	380
Computer equipment
Property, Plant and Equipment [Line Items]
Total premises and equipment	3,623	3,564
Projects in process
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 927	$ 6,424

Income Tax Expense - Schedule of Components of Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amount
Income before income tax expense									$ 42,944	$ 44,981	$ 40,060
U.S. federal income tax expense									9,018	9,446	8,413
Nontaxable income									(1,073)	(1,338)	(1,347)
Nondeductible expenses									67	50	38
Other									53	(93)	4
Income tax expense	$ 1,916	$ 1,870	$ 2,117	$ 2,163	$ 2,270	$ 2,128	$ 2,141	$ 1,526	$ 8,065	$ 8,065	$ 7,108
Percent
Income before income tax expense (as a percent)									100.00%	100.00%	100.00%
U.S. federal income tax expense (as a percent)									21.00%	21.00%	21.00%
Nontaxable income (as a percent)									(2.50%)	(3.00%)	(3.40%)
Nondeductible expenses (as a percent)									0.20%	0.10%	0.10%
Other (as a percent)									0.10%	(0.20%)	0.00%
Income tax expense (as a percent)									18.80%	17.90%	17.70%

Loans and Asset Quality - Schedule of Current, Past Due, and Nonaccrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	$ 1,992,858	$ 1,916,267
Financing receivable, 90 days or more past due and accruing	574
Financing receivable, excluding accrued interest, nonaccrual	1,959	2,364
30-59 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	587
60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	327
90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	2,245	2
Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	1,989,699	1,912,629
30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss		1,272
Real estate \| Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	851,582	794,723
Financing receivable, 90 days or more past due and accruing	0
Financing receivable, excluding accrued interest, nonaccrual	714	720
Real estate \| Commercial real estate \| 30-59 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	36
Real estate \| Commercial real estate \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	0
Real estate \| Commercial real estate \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	678	0
Real estate \| Commercial real estate \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	850,868	793,540
Real estate \| Commercial real estate \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss		463
Real estate \| One-to-four family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	599,487	543,511
Financing receivable, 90 days or more past due and accruing	260
Financing receivable, excluding accrued interest, nonaccrual	269	243
Real estate \| One-to-four family residential \| 30-59 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	392
Real estate \| One-to-four family residential \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	251
Real estate \| One-to-four family residential \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	409	0
Real estate \| One-to-four family residential \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	598,435	542,666
Real estate \| One-to-four family residential \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss		602
Real estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	125,238	157,364
Financing receivable, 90 days or more past due and accruing	265
Financing receivable, excluding accrued interest, nonaccrual	0	9
Real estate \| Construction and development \| 30-59 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	0
Real estate \| Construction and development \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	0
Real estate \| Construction and development \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	265	0
Real estate \| Construction and development \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	124,973	157,355
Real estate \| Construction and development \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss		0
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	315,327	310,067
Financing receivable, 90 days or more past due and accruing	45
Financing receivable, excluding accrued interest, nonaccrual	844	1,291
Commercial and industrial \| 30-59 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	132
Commercial and industrial \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	60
Commercial and industrial \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	847	0
Commercial and industrial \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	314,288	308,611
Commercial and industrial \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss		165
Tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	72,913	83,166
Financing receivable, 90 days or more past due and accruing	0
Financing receivable, excluding accrued interest, nonaccrual	0	0
Tax-exempt \| 30-59 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	0
Tax-exempt \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	0
Tax-exempt \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	0	0
Tax-exempt \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	72,913	83,166
Tax-exempt \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss		0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	28,311	27,436
Financing receivable, 90 days or more past due and accruing	4
Financing receivable, excluding accrued interest, nonaccrual	132	101
Consumer \| 30-59 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	27
Consumer \| 60-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	16
Consumer \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	46	2
Consumer \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss	$ 28,222	27,291
Consumer \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, excluding accrued interest, before allowance for credit loss		$ 42