Colony Bankcorp (CBAN) 10-Q8 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 07, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	000-12436
Entity Registrant Name	COLONY BANKCORP, INC.
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-1492391
Entity Address, Address Line One	115 South Grant Street
Entity Address, City or Town	Fitzgerald
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	31750
City Area Code	229
Local Phone Number	426-6000
Title of 12(b) Security	Common Stock, Par Value $1.00 per share
Trading Symbol	CBAN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,567,983
Entity Central Index Key	0000711669
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks	$ 23,010	$ 20,584
Federal funds sold and interest-bearing deposits in banks	118,330	60,094
Cash and cash equivalents	141,340	80,678
Investment securities available for sale, at fair value	399,547	432,553
Investment securities held to maturity, at amortized cost	451,056	465,858
Other investments, at cost	17,323	13,793
Loans held for sale	27,246	17,743
Loans	1,864,971	1,737,106
Allowance for credit losses on loans	(17,368)	(16,128)
Loans, net	1,847,603	1,720,978
Premises and equipment	42,544	41,606
Other real estate owned	812	651
Goodwill	48,923	48,923
Other intangible assets	4,530	5,664
Bank-owned life insurance	56,541	55,504
Deferred income taxes, net	28,934	28,199
Other assets	27,424	24,420
Total assets	3,093,823	2,936,570
Deposits
Noninterest-bearing	494,221	569,170
Interest-bearing	2,097,111	1,921,827
Total deposits	2,591,332	2,490,997
Federal Home Loan Bank advances	185,000	125,000
Other borrowings	63,422	78,352
Other liabilities	15,377	11,953
Total liabilities	2,855,131	2,706,302
Stockholders' equity:
Preferred stock, no par value; 10,000,000 shares authorized, none issued or outstanding as of September 30, 2023 and December 31, 2022, respectively	0	0
Common stock, par value $1.00 per share; 50,000,000 shares authorized, 17,567,983 and 17,598,123 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	17,568	17,598
Paid in capital	168,211	167,537
Retained earnings	120,732	111,573
Accumulated other comprehensive loss, net of tax	(67,819)	(66,440)
Total stockholders' equity	238,692	230,268
Total liabilities and stockholders' equity	$ 3,093,823	$ 2,936,570

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	17,567,983	17,598,123
Common stock, shares outstanding (in shares)	17,567,983	17,598,123

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income
Loans, including fees		$ 26,022	$ 18,183	$ 72,241	$ 50,478
Investment securities		5,770	5,266	17,619	14,240
Federal funds sold, interest bearing deposits in banks and short term investments		787	278	1,853	437
Total interest income		32,579	23,727	91,713	65,155
Interest expense
Deposits		10,338	1,449	23,893	2,674
Federal funds purchased		11	3	146	22
Federal Home Loan Bank Advances		1,568	555	5,140	1,746
Other borrowings		1,041	822	3,164	1,441
Total interest expense		12,958	2,829	32,343	5,883
Net interest income		19,621	20,898	59,370	59,272
Provision for credit losses	[1]	1,000	1,320	2,100	2,470
Net interest income after provision for credit losses		18,621	19,578	57,270	56,802
Noninterest income
Gain on sales of SBA loans		1,268	1,215	3,429	4,805
Loss on sales of securities		0	(96)	0	(72)
BOLI Income		335	312	1,024	977
Insurance commissions		509	466	1,410	1,328
Other		1,474	258	2,997	782
Total noninterest income		9,718	8,146	26,329	27,337
Noninterest expense
Salaries and employee benefits		11,973	12,154	37,929	40,498
Occupancy and equipment		1,620	1,645	4,741	4,872
Information technology expenses		2,064	2,491	6,406	7,394
Professional fees		752	881	2,348	2,773
Advertising and public relations		766	876	2,432	2,406
Communications		224	471	710	1,325
Other		3,482	2,849	8,912	8,380
Total noninterest expense		20,881	21,367	63,478	67,648
Income before income taxes		7,458	6,357	20,121	16,491
Income taxes		1,654	1,105	3,972	2,500
Net income		$ 5,804	$ 5,252	$ 16,149	$ 13,991
Earnings per common share:
Basic (in dollars per share)		$ 0.33	$ 0.30	$ 0.92	$ 0.82
Diluted (in dollars per share)		0.33	0.30	0.92	0.82
Dividends declared per share (in dollars per share)		$ 0.11	$ 0.1075	$ 0.33	$ 0.3225
Weighted average common shares outstanding:
Basic (in shares)		17,569,493	17,645,119	17,581,817	17,042,838
Diluted (in shares)		17,569,493	17,645,119	17,581,817	17,042,838
Service charges on deposits
Noninterest income
Noninterest income		$ 2,200	$ 2,104	$ 6,141	$ 5,823
Mortgage fee income
Noninterest income
Noninterest income		1,730	1,708	4,928	7,356
Interchange fees
Noninterest income
Noninterest income		$ 2,202	$ 2,179	$ 6,400	$ 6,338

[1](1) Beginning January 1, 2023, provision calculation is based on current expected loss methodology. Prior to January 1, 2023, calculation was based on incurred loss methodology.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 5,804	$ 5,252	$ 16,149	$ 13,991
Other comprehensive loss:
Net unrealized losses on securities arising during the period	(8,527)	(17,210)	(6,706)	(73,036)
Tax effect	2,172	4,475	1,708	18,989
Reclassification adjustment for amortization of unrealized holding (gains) losses included in accumulated other comprehensive income (loss) from the transfer of securities from available for sale to held to maturity	1,300	642	3,942	(9,376)
Tax effect	(331)	(167)	(1,004)	2,438
Realized losses on sales of available for sale securities	0	96	0	72
Tax effect	0	(13)	0	(10)
Unrealized gains on derivative instruments designated as cash flow hedges	811	0	1,087	0
Tax effect	(207)	0	(277)	0
Realized gains on derivative instruments recognized in net income	(164)	0	(173)	0
Tax effect	42	0	44	0
Total other comprehensive loss	(4,904)	(12,177)	(1,379)	(60,923)
Comprehensive income (loss)	$ 900	$ (6,925)	$ 14,770	$ (46,932)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Revision of Prior Period, Accounting Standards Update, Adjustment	[1]	Common Stock	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period (in shares) at Dec. 31, 2021				13,673,898
Balance at beginning of period at Dec. 31, 2021	$ 217,707			$ 13,674	$ 111,021	$ 99,189	$ (6,177)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive loss	(60,923)						(60,923)
Dividends on common shares	(5,262)					(5,262)
Issuance of common stock (in shares)				3,848,485
Issuance of common stock	59,468			$ 3,848	55,620
Issuance of restricted stock, net of forfeitures (in shares)				133,720
Issuance of restricted stock, net of forfeitures	0			$ 134	(134)
Tax withholding related to vesting of restricted stock (in shares)				(14,980)
Tax withholding related to vesting of restricted stock	(231)			$ (15)	(216)
Stock-based compensation expense	1,317				1,317
Net income	13,991					13,991
Balance at end of period (in shares) at Sep. 30, 2022				17,641,123
Balance at end of period at Sep. 30, 2022	$ 226,067			$ 17,641	167,608	107,918	(67,100)
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Balance at beginning of period (in shares) at Dec. 31, 2021				13,673,898
Balance at beginning of period at Dec. 31, 2021	$ 217,707			$ 13,674	111,021	99,189	(6,177)
Balance at end of period (in shares) at Dec. 31, 2022	17,598,123			17,598,123
Balance at end of period at Dec. 31, 2022	$ 230,268	$ (1,198)		$ 17,598	167,537	111,573	(66,440)
Balance at beginning of period (in shares) at Jun. 30, 2022				17,581,212
Balance at beginning of period at Jun. 30, 2022	234,595			$ 17,581	167,376	104,561	(54,923)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive loss	(12,177)						(12,177)
Dividends on common shares	(1,895)					(1,895)
Issuance of restricted stock, net of forfeitures (in shares)				71,770
Issuance of restricted stock, net of forfeitures	0			$ 72	(72)
Tax withholding related to vesting of restricted stock (in shares)				(11,859)
Tax withholding related to vesting of restricted stock	(180)			$ (12)	(168)
Stock-based compensation expense	472				472
Net income	5,252					5,252
Balance at end of period (in shares) at Sep. 30, 2022				17,641,123
Balance at end of period at Sep. 30, 2022	$ 226,067			$ 17,641	167,608	107,918	(67,100)
Balance at beginning of period (in shares) at Dec. 31, 2022	17,598,123			17,598,123
Balance at beginning of period at Dec. 31, 2022	$ 230,268	$ (1,198)		$ 17,598	167,537	111,573	(66,440)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive loss	(1,379)						(1,379)
Dividends on common shares	(5,792)					(5,792)
Issuance of restricted stock, net of forfeitures (in shares)				36,152
Issuance of restricted stock, net of forfeitures	0			$ 36	(36)
Tax withholding related to vesting of restricted stock (in shares)				(24,811)
Tax withholding related to vesting of restricted stock	(252)			$ (25)	(227)
Repurchase of shares (in shares)				(41,481)
Repurchase of shares	(406)			$ (41)	(365)
Stock-based compensation expense	1,302				1,302
Net income	$ 16,149					16,149
Balance at end of period (in shares) at Sep. 30, 2023	17,567,983			17,567,983
Balance at end of period at Sep. 30, 2023	$ 238,692			$ 17,568	168,211	120,732	(67,819)
Balance at beginning of period (in shares) at Jun. 30, 2023				17,541,661
Balance at beginning of period at Jun. 30, 2023	239,455			$ 17,542	167,971	116,857	(62,915)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive loss	(4,904)						(4,904)
Dividends on common shares	(1,929)					(1,929)
Issuance of restricted stock, net of forfeitures (in shares)				44,823
Issuance of restricted stock, net of forfeitures	0			$ 45	(45)
Tax withholding related to vesting of restricted stock (in shares)				(18,501)
Tax withholding related to vesting of restricted stock	(174)			$ (19)	(155)
Stock-based compensation expense	440				440
Net income	$ 5,804					5,804
Balance at end of period (in shares) at Sep. 30, 2023	17,567,983			17,567,983
Balance at end of period at Sep. 30, 2023	$ 238,692			$ 17,568	$ 168,211	$ 120,732	$ (67,819)

[1] (1) Represents the impact of the adoption of Accounting Standards Update ("ASU") No. 2016-13: CECL

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.11	$ 0.1075	$ 0.33	$ 0.3225

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Operating Activities
Net income		$ 16,149	$ 13,991
Adjustments reconciling net income to net cash provided by operating activities:
Provision for credit losses	[1]	2,100	2,470
Depreciation, amortization, and accretion		6,653	9,322
Equity method investment (loss) income		(149)	357
Share-based compensation expense		1,302	1,317
Net change in servicing asset		(222)	(582)
Loss on sales of securities, available-for-sale		0	72
Gain on sales of SBA loans		(3,429)	(4,805)
Gain on sales of other real estate owned		(13)	0
Donation of other real estate owned		0	35
Gain on sales of premises & equipment		(202)	(65)
Originations of loans held for sale		(200,638)	(269,586)
Proceeds from sales of loans held for sale		194,564	288,596
Change in bank-owned life insurance		(1,037)	(1,006)
Deferred tax benefit		146	(990)
Change in other assets		(1,868)	(4,529)
Change in other liabilities		1,854	867
Net cash provided by operating activities		15,210	35,464
Investing Activities
Purchases of investment securities, available-for-sale		(3,917)	(157,391)
Proceeds from maturities, calls, and paydowns of investment securities, available-for-sale		28,591	45,014
Proceeds from sales of investment securities, available-for-sale		0	47,175
Proceeds from maturities, calls and paydowns of securities, held-to-maturity		16,896	8,432
Change in loans, net		(129,286)	(249,384)
Purchase of premises and equipment		(2,984)	(1,449)
Proceeds from sales of premises and equipment		433	71
Proceeds from sales of other real estate owned		215	0
Proceeds from bank-owned life insurance		0	1,008
Redemption of other investments		800	2,506
Purchase of Federal Home Loan Bank Stock		(4,181)	(1,701)
Net cash used in investing activities		(93,433)	(305,719)
Financing Activities
Change in noninterest-bearing customer deposits		(74,949)	5,771
Change in interest-bearing customer deposits		175,284	29,283
Issuance of common stock, net of stock issuance cost		0	59,468
Dividends paid for common stock		(5,792)	(5,262)
Issuance of Subordinated Debt		0	39,097
Repayments on Federal Home Loan Bank Advances		(625,000)	(137,500)
Proceeds from Federal Home Loan Bank Advances		685,000	180,000
Repayments on other borrowings		(270,000)	(112,563)
Proceeds from other borrowings		255,000	100,000
Repurchase of shares		(406)	0
Tax withholding related to vesting of restricted stock		(252)	(231)
Net cash provided by financing activities		138,885	158,063
Net increase (decrease) in cash and cash equivalents		60,662	(112,192)
Cash and cash equivalents at beginning of period		80,678	197,232
Cash and cash equivalents at end of period		141,340	85,040
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest		30,323	5,053
Cash paid during the period for income taxes		4,000	3,625
Noncash Investing and Financing Activities
Goodwill adjustment		0	(3,983)
Carrying amount of Securities AFS transferred to HTM, net of $34.0 million unrealized loss		$ 0	$ 510,956

[1](1) Beginning January 1, 2023, provision calculation is based on current expected loss methodology. Prior to January 1, 2023, calculation was based on incurred loss methodology.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (unaudited) (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Statement of Cash Flows [Abstract]
Debt securities transfer, unrealized loss	$ 34

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Presentation Colony Bankcorp, Inc. (the “Company”) is a bank holding company located in Fitzgerald, Georgia. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Colony Bank, Fitzgerald, Georgia (the “Bank”). The “Company” or “our,” as used herein, includes Colony Bank, except where the context requires otherwise. In July 2019, a new subsidiary of the Company was incorporated under the name Colony Risk Management, Inc. Colony Risk Management, Inc. is a subsidiary of the Company and is located in Las Vegas, Nevada. It is a captive insurance subsidiary which insures various liability and property damage policies for the Company and its related subsidiaries. Colony Risk Management is regulated by the State of Nevada Division of Insurance. All adjustments consisting of normal recurring accruals which are, in the opinion of management, necessary for fair presentation of the interim consolidated financial statements, have been included and fairly and accurately present the financial position, results of operations and cash flows of the Company. All significant intercompany accounts have been eliminated in consolidation. The accounting and reporting policies of the Company conform to generally accepted accounting principles and practices utilized in the commercial banking industry for interim financial information and Regulation S-X. Accordingly, the accompanying unaudited interim consolidated financial statements do not include all of the information or notes required for complete financial statements. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results which may be expected for the year ending December 31, 2023. These statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”). Nature of Operations The Bank provides a full range of retail, commercial and mortgage banking services as well as wealth management and insurance services for consumers and small- to medium-size businesses located primarily in north central, south and coastal Georgia and in Alabama through a loan production office. The Bank is headquartered in Fitzgerald, Georgia with banking and mortgage offices in Albany, Ashburn, Athens, Broxton, Centerville, Columbus, Cordele, Douglas, Eastman, Fitzgerald, LaGrange, Leesburg, Macon, Moultrie, Quitman, Rochelle, Savannah, Soperton, Statesboro, Sylvester, Tifton, Valdosta and Warner Robins and a loan production office in Birmingham, Alabama. Lending and investing activities are funded primarily by deposits gathered through its retail banking office network. Use of Estimates In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and fair value of assets acquired and liabilities assumed in a business combination, including goodwill impairment. Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to statement presentations selected for 2023. Such reclassifications have not materially affected previously reported stockholders’ equity or net income. Concentrations of Credit Risk Concentrations of credit risk can exist in relation to individual borrowers or groups of borrowers, certain types of collateral, certain types of industries, or certain geographic regions. The Company has a concentration in real estate loans as well as a geographic concentration that could pose an adverse credit risk. At September 30, 2023, approximately 83% of the Company’s loan portfolio was concentrated in loans secured by real estate. A substantial portion of borrowers’ ability to honor their contractual obligations is dependent upon the viability of the real estate economic sector. Management continues to monitor these concentrations and has considered these concentrations in its allowance for credit loss analysis. The success of the Company is dependent, to a certain extent, upon the economic conditions in the geographic markets it serves. Adverse changes in the economic conditions in these geographic markets would likely have a material adverse effect on the Company’s results of operations and financial condition. The operating results of the Company depend primarily on its net interest income. Accordingly, operations are subject to risks and uncertainties surrounding the exposure to changes in the interest rate environment. At times, the Company may have cash and cash equivalents at financial institutions in excess of federal deposit insurance limits. The Company places its cash and cash equivalents with high credit quality financial institutions whose credit ratings are monitored by management to minimize credit risk. Allowance for Credit Losses ("ACL") – Loans The current expected credit loss (“CECL”) approach requires an estimate of the credit losses expected over the life of an exposure (or pool of exposures). It replaced the incurred loss approach’s threshold that delayed the recognition of a credit loss until it was probable a loss event was incurred. The estimate of expected credit losses is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. Historical loss experience is generally the starting point for estimating expected credit losses. The Company then considers whether the historical loss experience should be adjusted for asset-specific risk characteristics or current conditions at the reporting date that did not exist over the historical period used. The Company also considers future economic conditions and portfolio performance as part of a reasonable and supportable forecast period. The ACL is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Accrued interest receivable is excluded from the estimate of credit losses. Management determines the ACL balance using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit behaviors along with model judgments provide the basis for the estimation of expected credit losses. Adjustments to modeled loss estimates may be 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 environmental conditions, such as changes in economic conditions, property values, or other relevant factors. For the majority of loans and leases the ACL is calculated using a discounted cash flow methodology applied at a loan level with a one-year reasonable and supportable forecast period and a two-year straight-line reversion period. The ACL-loans is measured on a collective basis when similar risk characteristics exist. The Company has identified the following portfolio segments and calculates the ACL for each using a discounted cash flow methodology at the loan level, with loss rates, prepayment assumptions and curtailment assumptions driven by each loan’s collateral type: • Construction, land & land development - Risks common to construction, land & development loans are cost overruns, changes in market demand for property, inadequate long-term financing arrangements and declines in real estate values. • Other commercial real estate - Loans in this category are susceptible to business failures and declines in general economic conditions, including declines in real estate value, declines in occupancy rates, and lack of suitable alternative use for the property. • Commercial, financial & agricultural - Risks to this loan category include the inability to monitor the condition of the collateral, which often consists of inventory, accounts receivable and other non-real estate assets. Equipment and inventory obsolescence can also pose a risk. Declines in general economic conditions and other events can cause cash flows to fall to levels insufficient to service debt. • Residential real estate - Residential real estate loans are susceptible to weakening general economic conditions, increases in unemployment rates and declining real estate values. • Consumer and other - Risks common to consumer direct loans include unemployment and changes in local economic conditions as well as the inability to monitor collateral consisting of personal property. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Allowance for Credit Losses – Off-Balance Sheet Credit Exposures Management estimates expected credit losses on commitments to extend credit over the contractual period during which the Company is exposed to credit risk on the underlying commitments. The ACL on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. 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 ACL is calculated using the same aggregate reserve rates calculated for the funded portion of loans at the portfolio level applied to the amount of commitments expected to fund. Allowance for Credit Losses – Held-to-Maturity Securities ("HTM") Management measures current expected credit losses on HTM debt securities on a collective basis by major security type. The estimate of current expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Management classifies the HTM portfolio into the following major security types: U.S. Treasury securities, U.S. agency securities, State, county & municipal securities, and Mortgage-backed securities. Accrued interest receivable on HTM debt is excluded from the estimate of credit losses. All of the residential and commercial mortgage-backed securities held by the Company as HTM are issued by U.S. Government agencies and government sponsored entities. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The state and political subdivision securities are also highly rated by major rating agencies. Allowance for Credit Losses – Available-for-Sale Securities ("AFS") For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or whether it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any amount of unrealized loss that has not been recorded through an ACL is recognized in other comprehensive income. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. Changes in the ACL are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the ACL when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Derivatives The Company records cash flow hedges at the inception of a derivative contract based on management’s intentions and belief as to the likely effectiveness of the hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is recorded in other comprehensive income ("OCI") and is reclassified into earnings in the same period during which the hedged transaction affects earnings. The changes in the fair value of a derivative that is not highly effective in hedging the expected cash flows of the hedged item are recognized immediately as interest expense in the consolidated statements of income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income or noninterest expense. Cash flows from hedges are classified in the consolidated statements of cash flows in the same manner as the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged item. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in cash flows of the hedged item, the derivative is settled or terminated, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as interest expense. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in OCI are amortized into earnings over the same periods which the hedged transactions will affect earnings. Changes in Accounting Principles ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, was adopted by the Company on January 1, 2023, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor in accordance with Topic 842 on leases. In addition, ASC 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities management does not intend to sell or believes that it is more likely than not they will be required to sell. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost, and off-balance sheet credit exposures. 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 net decrease to retained earnings of $1.2 million, net of tax, as of January 1, 2023 for the cumulative effect of adopting ASC 326, primarily related to credit losses for unfunded commitments. ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, was adopted by the Company on January 1, 2023. This ASU provides guidance on eliminating the requirement for classification of and disclosures around troubled debt restructurings (TDRs). The purpose of this guidance is to eliminate unnecessary and overly-complex disclosures of loans that are already incorporated into the allowance for credit losses and related disclosures while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Modified terms include one or a combination of the following: a reduction of the stated interest rate of the loan, an extension of the term or amortization period, a more than insignificant payment delay or principal forgiveness. As of September 30, 2023, the Company had two loans that met the requirements of this disclosure and are included in Note 3 - Loans. This ASU further requires the disclosure of current-period gross charge-offs by year of origination. Current period gross charge-offs are included in the term loan vintage table in Note 3 - Loans. In March 2023, the FASB issued ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. ASU 2023-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. ASU 2023-02 is not expected to have a material impact on the Company’s consolidated financial statements.

Investment Securities

Investment Securities	9 Months Ended
Investment Securities	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity along with gross unrealized gains and losses are summarized as follows: (dollars in thousands) September 30, 2023 Amortized Gross Gross Fair Value Securities Available for Sale: U.S. treasury securities $ 799 $ — $ (8) $ 791 U.S. agency securities 4,613 — (510) 4,103 Asset backed securities 27,250 6 (411) 26,845 State, county & municipal securities 124,882 — (23,228) 101,654 Corporate debt securities 54,694 — (7,665) 47,029 Mortgage-backed securities 251,658 — (32,533) 219,125 Total $ 463,896 $ 6 $ (64,355) $ 399,547 September 30, 2023 Amortized Gross Gross Fair Value Securities Held to Maturity: U.S. treasury securities $ 92,880 $ — $ (5,483) $ 87,397 U.S. agency securities 16,314 — (1,975) 14,339 State, county & municipal securities 136,546 — (22,986) 113,560 Mortgage-backed securities 205,316 — (35,547) 169,769 Total $ 451,056 $ — $ (65,991) $ 385,065 December 31, 2022 Amortized Gross Gross Fair Value Securities Available for Sale: U.S. treasury securities $ 1,644 $ — $ (22) $ 1,622 U.S. agency securities 5,035 — (450) 4,585 Asset backed securities 31,468 — (1,480) 29,988 State, county & municipal securities 126,119 — (21,363) 104,756 Corporate debt securities 54,741 164 (5,320) 49,585 Mortgage-backed securities 271,199 9 (29,191) 242,017 Total $ 490,206 $ 173 $ (57,826) $ 432,553 December 31, 2022 Amortized Gross Gross Fair Value Securities Held to Maturity: U.S. treasury securities $ 91,615 $ — $ (4,149) $ 87,466 U.S. agency securities 16,409 — (1,838) 14,571 State, county & municipal securities 136,138 32 (19,518) 116,652 Mortgage-backed securities 221,696 — (29,121) 192,575 Total $ 465,858 $ 32 $ (54,626) $ 411,264 The Company elected to exclude accrued interest receivable from the amortized cost basis of available-for-sale and held-to-maturity securities disclosed throughout this note. As of September 30, 2023 and December 31, 2022, accrued interest receivable for available-for-sale and held-to-maturity securities totaled $2.2 million and $2.6 million, and $2.0 million and $1.9 million, respectively, and is included in the "other assets" line item on the Company’s consolidated balance sheet. The Company transferred certain agency-issued securities from the available-for-sale to held-to-maturity portfolio on January 1, 2022 and September 1, 2022, having a combined book value of approximately $511.0 million and a combined market value of approximately $477.0 million. As of the date of each transfer, the related pre-tax net unrecognized losses of approximately $34.0 million within the accumulated other comprehensive loss balance are being amortized over the remaining term of the securities using the effective interest method. This transfer was completed after careful consideration of the Company’s intent and ability to hold these securities to maturity. Factors used in assessing the ability to hold these securities to maturity were future liquidity needs and sources of funding. The Company has had no other transfers of securities since September 1, 2022. The amortized cost and fair value of investment securities as of September 30, 2023, by contractual maturity, are shown hereafter. Expected maturities may differ from contractual maturities for certain investments because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. This is often the case with mortgage-backed securities, which are disclosed separately in the table below. Available for Sale Held to Maturity (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 1,014 $ 1,002 $ — $ — Due after one year through five years 15,542 14,127 91,725 86,380 Due after five years through ten years 95,886 79,640 75,296 64,377 Due after ten years 99,796 85,653 78,719 64,539 $ 212,238 $ 180,422 $ 245,740 $ 215,296 Mortgage-backed securities 251,658 219,125 205,316 169,769 $ 463,896 $ 399,547 $ 451,056 $ 385,065 Proceeds from the sale of investment securities totaled $44.1 million and $47.2 million for the three and nine month periods ended September 30, 2022, respectively. The sale of investment securities resulted in gross realized gains of $0 and $24,000 for the three and nine months ended September 30, 2022 and gross realized losses of $96,000 for the both the three and nine months ended September 30, 2022. Investment securities having a carrying value of approximately $394.0 million and $541.8 million were pledged to secure public deposits and for other purposes as of September 30, 2023 and December 31, 2022, respectively. Information pertaining to available-for-sale securities with gross unrealized losses at September 30, 2023 and December 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows: Less Than 12 Months 12 Months or Greater Total (dollars in thousands) Fair Gross Fair Gross Fair Gross September 30, 2023 U.S. treasury securities $ — $ — $ 791 $ (8) $ 791 $ (8) U.S. agency securities — — 4,103 (510) 4,103 (510) Asset backed securities 5,934 (14) 18,598 (397) 24,532 (411) State, county & municipal securities 1,457 (276) 100,197 (22,952) 101,654 (23,228) Corporate debt securities 7,660 (1,632) 39,369 (6,033) 47,029 (7,665) Mortgage-backed securities 16,088 (424) 203,037 (32,109) 219,125 (32,533) $ 31,139 $ (2,346) $ 366,095 $ (62,009) $ 397,234 $ (64,355) December 31, 2022 U.S. treasury securities $ 1,377 $ (17) $ 245 $ (5) $ 1,622 $ (22) U.S. agency securities 3,221 (257) 1,364 (193) 4,585 (450) Asset backed securities 10,780 (319) 19,208 (1,161) 29,988 (1,480) State, county & municipal securities 29,284 (3,629) 75,472 (17,734) 104,756 (21,363) Corporate debt securities 17,258 (1,463) 30,651 (3,857) 47,909 (5,320) Mortgage-backed securities 122,031 (7,890) 119,409 (21,301) 241,440 (29,191) $ 183,951 $ (13,575) $ 246,349 $ (44,251) $ 430,300 $ (57,826) Information pertaining to held-to-maturity securities with gross unrealized losses at September 30, 2023 and December 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows: Less Than 12 Months 12 Months or Greater Total (dollars in thousands) Fair Gross Fair Gross Fair Gross September 30, 2023 U.S. treasury securities $ — $ — $ 87,397 $ (5,483) $ 87,397 $ (5,483) U.S. agency securities — — 14,339 (1,975) 14,339 (1,975) State, county & municipal securities 18,041 (1,349) 95,519 (21,637) 113,560 (22,986) Mortgage-backed securities — — 169,769 (35,547) 169,769 (35,547) $ 18,041 $ (1,349) $ 367,024 $ (64,642) $ 385,065 $ (65,991) December 31, 2022 U.S. treasury securities $ — $ — $ 87,466 $ (4,149) $ 87,466 $ (4,149) U.S. agency securities — — 14,571 (1,838) 14,571 (1,838) State, county & municipal securities 9,858 (1,392) 105,734 (18,126) 115,592 (19,518) Mortgage-backed securities 13,580 (729) 178,995 (28,392) 192,575 (29,121) $ 23,438 $ (2,121) $ 386,766 $ (52,505) $ 410,204 $ (54,626) Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. At September 30, 2023, there were 282 available-for-sale securities and 159 held-to-maturity securities that had unrealized losses. These securities are guaranteed by either the U.S. Government, other governments or U.S. corporations. 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 and the results of reviews of the issuer’s financial condition. The unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. As management has the ability to hold debt securities until maturity, or for the foreseeable future if classified as available-for-sale, no declines are deemed to be other than temporary. The Company adopted ASU 2016-13 Financial Instruments - Credit Losses (Topic 326), as amended on January 1, 2023 which included evaluation of expected credit losses on debt securities. As part of the Company's calculated credit losses, the allowance for credit losses on investment securities was determined to be de minimis due to the high credit quality of the portfolio, which includes securities issued or guaranteed by the U.S. Treasury, U.S. Government agencies and high quality municipalities. Therefore, no allowance for credit losses was recorded as of September 30, 2023. See Note 1 for additional details on the allowance for credit losses as it relates to the securities portfolio.

Loans

Loans	9 Months Ended
Loans	Sep. 30, 2023
Receivables [Abstract]
Loans	Loans The following table presents the composition of loans segregated by class of loans, as of September 30, 2023 and December 31, 2022. (dollars in thousands) September 30, 2023 December 31, 2022 Construction, land & land development $ 245,268 $ 229,435 Other commercial real estate 969,168 975,447 Total commercial real estate 1,214,436 1,204,882 Residential real estate 339,501 290,054 Commercial, financial & agricultural 252,725 223,923 Consumer and other 58,309 18,247 Total Loans $ 1,864,971 $ 1,737,106 Included in the above table are government guaranteed loans totaling $82.4 million at September 30, 2023 and $58.4 million at December 31, 2022. The following table presents the composition of government guaranteed loans segregated by class of loans for each respective period. (dollars in thousands) September 30, 2023 December 31, 2022 Construction, land & land development $ 7,665 $ 5,888 Other commercial real estate 35,316 32,642 Total commercial real estate 42,981 38,530 Residential real estate 11,757 8,036 Commercial, financial & agricultural 27,645 11,787 Consumer and other — — Total Loans $ 82,383 $ 58,353 The Company elected to exclude accrued interest receivable from the amortized cost basis of loans disclosed throughout this note. As of September 30, 2023 and December 31, 2022, accrued interest receivable for loans totaled $8.5 million and $6.8 million, respectively, and is included in the "other assets" line item on the Company’s consolidated balance sheet. Commercial, financial & agricultural loans are extended to a diverse group of businesses within the Company’s market area. These loans are often underwritten based on the borrower’s ability to service the debt from income from the business. Real estate construction loans often require loan funds to be advanced prior to completion of the project. Due to uncertainties inherent in estimating construction costs, changes in interest rates and other economic conditions, these loans often pose a higher risk than other types of loans. Consumer and other loans are originated at the Bank level. Credit Quality Indicators. As part of the ongoing monitoring of the credit quality of the loan portfolio, management tracks certain credit quality indicators including trends related to (1) the risk grade assigned to commercial and consumer loans, (2) the level of classified commercial loans, (3) net charge-offs, (4) nonperforming loans, and (5) the general economic conditions in the Company’s geographic markets. The Company uses a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 to 10. A description of the general characteristics of the grades is as follows: • Grades 1, 2 and 3 - Borrowers with these assigned risk grades range from virtual absence of risk to minimal risk. Such loans may be secured by Company-issued and controlled certificates of deposit or properly margined equity securities or bonds. Other loans comprising these grades are made to companies that have been in existence for a long period of time with many years of consecutive profits and strong equity, good liquidity, excellent debt service ability and unblemished past performance, or to exceptionally strong individuals with collateral of unquestioned value that fully secures the loans. Loans in this category fall into the “pass” classification. • Grades 4 and 5 - Loans assigned these “pass” risk grades are made to borrowers with acceptable credit quality and risk. The risk ranges from loans with no significant weaknesses in repayment capacity and collateral protection to acceptable loans with one or more risk factors considered to be more than average. These loans are also included in into the “pass” classification. • Grade 6 - This grade includes “special mention” loans on management’s watch list and is intended to be used on a temporary basis for pass grade loans where risk-modifying action is intended in the short-term. • Grades 7 and 8 - These grades includes “substandard” loans in accordance with regulatory guidelines. This category includes borrowers with well-defined weaknesses that jeopardize the payment of the debt in accordance with the agreed terms. Loans considered to be impaired are assigned grade 8, and these loans often have assigned loss allocations as part of the allowance for credit losses. Generally, loans on which interest accrual has been stopped would be included in this grade. • Grades 9 and 10 - These grades correspond to regulatory classification definitions of “doubtful” and “loss,” respectively. In practice, any loan with these grades would be for a very short period of time, and generally the Company has no loans with these assigned grades. Management manages the Company’s problem loans in such a way that uncollectible loans or uncollectible portions of loans are charged off immediately with any residual, collectible amounts assigned a risk grade of 7 or 8. The following table presents the loan portfolio segregated by class of loans and the risk category of term loans by vintage year, which is the year of origination or most recent renewal, as of September 30, 2023. Those loans with a risk grade of 1, 2, 3, 4 and 5 have been combined in the pass column for presentation purposes. There were no loans with a risk rating of "doubtful" or "loss" at September 30, 2023. Term Loans Amortized Cost Basis by Origination Year (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolvers Revolvers converted to term loans Total September 30, 2023 Construction, land & land development Risk rating Pass $ 93,480 $ 105,461 $ 27,729 $ 7,808 $ 1,031 $ 5,955 $ 2,535 $ 31 $ 244,030 Special Mention — — 25 — — 33 — — 58 Substandard — 883 5 — 21 146 125 — 1,180 Total Construction, land & land development 93,480 106,344 27,759 7,808 1,052 6,134 2,660 31 245,268 Current period gross write offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other commercial real estate Risk rating Pass 40,254 340,854 208,444 92,693 84,083 155,802 25,603 1,079 948,812 Special Mention — 802 419 2,128 4,550 4,696 35 — 12,630 Substandard — 4,423 287 — — 2,758 258 — 7,726 Total Other commercial real estate 40,254 346,079 209,150 94,821 88,633 163,256 25,896 1,079 969,168 Current period gross write offs — — — — — — — — — Residential real estate Risk rating Pass 55,868 119,728 52,516 23,033 9,108 45,226 20,809 — 326,288 Special Mention 296 809 309 51 555 4,461 98 — 6,579 Substandard 253 838 208 271 277 4,777 10 — 6,634 Total Residential real estate 56,417 121,375 53,033 23,355 9,940 54,464 20,917 — 339,501 Current period gross write offs — — — — — — — — — Commercial, financial & agricultural Risk rating Pass 62,802 57,302 25,445 14,308 5,415 14,495 56,939 318 237,024 Special Mention 8,471 544 311 390 25 33 826 — 10,600 Substandard 215 88 4,190 129 30 326 98 25 5,101 Total Commercial, financial & agricultural 71,488 57,934 29,946 14,827 5,470 14,854 57,863 343 252,725 Current period gross write offs — 692 404 — — 61 — — 1,157 Consumer and other Risk rating Pass 47,123 4,622 2,381 1,483 1,017 1,004 445 — 58,075 Special Mention 77 4 43 14 31 2 — — 171 Substandard 16 23 2 7 5 10 — — 63 Total Consumer and other 47,216 4,649 2,426 1,504 1,053 1,016 445 — 58,309 Current period gross write offs — 12 1 4 — — — — 17 Total Loans Risk rating Pass 299,527 627,968 316,516 139,324 100,653 222,484 106,330 1,428 1,814,230 Special Mention 8,844 2,158 1,108 2,583 5,161 9,224 959 — 30,037 Substandard 484 6,255 4,692 406 333 8,018 491 25 20,704 Total Loans $ 308,855 $ 636,381 $ 322,316 $ 142,313 $ 106,147 $ 239,726 $ 107,780 $ 1,453 $ 1,864,971 Total current period gross write offs $ — $ 705 $ 404 $ 4 $ — $ 61 $ — $ — $ 1,174 The following table presents the loan portfolio by credit quality indicator (risk grade) as of December 31, 2022. Those loans with a risk grade of 1, 2, 3, 4 and 5 have been combined in the pass column for presentation purposes. There were no loans with a risk rating of "doubtful" or "loss" at December 31, 2022. (dollars in thousands) Special December 31, 2022 Pass Mention Substandard Total Construction, land & land development $ 228,494 $ 290 $ 651 $ 229,435 Other commercial real estate 951,126 17,562 6,759 975,447 Total commercial real estate 1,179,620 17,852 7,410 1,204,882 Residential real estate 277,930 6,574 5,550 290,054 Commercial, financial & agricultural 220,908 885 2,130 223,923 Consumer and other 18,157 54 $ 36 18,247 Total Loans $ 1,696,615 $ 25,365 $ 15,126 $ 1,737,106 A loan’s risk grade is assigned at loan origination and is based on the financial strength of the borrower and the type of collateral. Loan risk grades are subject to review at various times throughout the year as part of the Company’s ongoing loan review process. Loans with an assigned risk grade of six or below and an outstanding balance of $500,000 or more are reassessed on a quarterly basis. During this reassessment process individual reserves may be identified and placed against certain loans which are not considered impaired. In assessing the overall economic condition of the markets in which it operates, the Company monitors the unemployment rates for its major service areas. The unemployment rates are reviewed on a quarterly basis as part of the allowance for credit loss determination. Loans are placed on nonaccrual status if principal or interest payments become 90 days past due or when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory guidelines. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. Collateral-Dependent Loans We classify a loan as collateral-dependent when our borrower is experiencing financial difficulty, and we expect repayment to be provided substantially through the operation or sale of collateral. Our commercial loans have collateral that is comprised of real estate and business assets. Our consumer loans have collateral that is substantially comprised of residential real estate. There were no significant changes in the extent to which collateral secures our collateral-dependent loans during the three and nine month periods ended September 30, 2023. The following table presents the aging of the amortized cost basis of loans by aging category and accrual status as of September 30, 2023 and December 31, 2022: (dollars in thousands) 30-89 Days 90 Days Total Accruing Nonaccrual Current Loans Total Loans September 30, 2023 Construction, land & land development $ — $ — $ — $ 92 $ 245,176 $ 245,268 Other commercial real estate 469 — 469 1,589 967,110 969,168 Total commercial real estate 469 — 469 1,681 1,212,286 1,214,436 Residential real estate 1,185 — 1,185 3,289 335,027 339,501 Commercial, financial & agricultural 131 — 131 4,275 248,319 252,725 Consumer and other 14 9 23 21 58,265 58,309 Total Loans $ 1,799 $ 9 $ 1,808 $ 9,266 $ 1,853,897 $ 1,864,971 December 31, 2022 Construction, land & land development $ — $ — $ — $ 149 $ 229,286 $ 229,435 Other commercial real estate 395 — 395 1,509 973,543 975,447 Total commercial real estate 395 — 395 1,658 1,202,829 1,204,882 Residential real estate 882 — 882 2,686 286,486 290,054 Commercial, financial & agricultural 476 — 476 1,341 222,106 223,923 Consumer and other 40 — 40 21 18,186 18,247 Total Loans $ 1,793 $ — $ 1,793 $ 5,706 $ 1,729,607 $ 1,737,106 The following table is a summary of the Company's nonaccrual loans by major categories for the periods indicated. September 30, 2023 (dollars in thousands) Nonaccrual Loans with No Related ACL Nonaccrual Loans with a Related ACL Total Nonaccrual Loans Construction, land & land development $ 28 $ 64 $ 92 Other commercial real estate 784 805 1,589 Total commercial real estate 812 869 1,681 Residential real estate 328 2,961 3,289 Commercial, financial & agricultural 620 3,655 4,275 Consumer and other — 21 21 Total Loans $ 1,760 $ 7,506 $ 9,266 The following table details impaired loan data, including purchased credit impaired loans, as of December 31, 2022. December 31, 2022 (dollars in thousands) Unpaid Recorded Investment Related Average With No Related Allowance Recorded Construction, land & land development $ 40 $ 40 $ — $ 10 Other commercial real estate 3,754 3,754 — 5,311 Residential real estate 62 62 — 570 Commercial, financial & agricultural — — — 306 Consumer and other — — — 1 3,856 3,856 — 6,198 With An Allowance Recorded Construction, land & land development 474 474 44 177 Other commercial real estate — — — 503 Residential real estate — — — 588 Commercial, financial & agricultural — — — 369 Consumer and other — — — — 474 474 44 1,637 Purchased Credit Impaired Loans Construction, land & land development — — — — Other commercial real estate 798 798 33 760 Residential real estate — — — 13 Commercial, financial & agricultural — — — — Consumer and other — — — 65 798 798 33 838 Total Construction, land & land development 514 514 44 187 Other commercial real estate 4,552 4,552 33 6,574 Residential real estate 62 62 — 1,171 Commercial, financial & agricultural — — — 675 Consumer and other — — — 66 $ 5,128 $ 5,128 $ 77 $ 8,673 Interest income recorded on nonaccrual loans during the three and nine months ended September 30, 2023 was $55,000 and $265,000, respectively. Interest income recorded on nonaccrual and TDR loans during the three and nine months ended September 30, 2022 was $165,000 and $380,000, respectively. The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Company uses a discounted cash flow model to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Occasionally, the Company modifies loans by providing principal forgiveness on certain of its real estate loans. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. In some cases, the Company will modify a certain loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. Upon the Company's determination that a modified loan, or portion of a loan, has subsequently been deemed uncollectible, the loan, or portion of the loan, is written off. The following table presents loans modified due to a financial difficulty under the above terms during the three and nine months ended September 30, 2023. Loans modified due to financial difficulty (dollars in thousands) Term Extension Term Extension and Payment Delay Total* Residential real estate $ 13 $ — $ 13 Commercial, financial & agricultural — 10 10 Total Loans $ 13 $ 10 $ 23 *less than .01% of total class of receivable There was one loan in each of the above categories. The residential real estate loan had a term extension of two years. The commercial, financial & agricultural loan had a term extension of two years and was given a payment delay. Prior to the adoption of ASU 2022-02 on January 1, 2023, the restructuring of a loan was considered a troubled debt restructuring ("TDR") if both the borrower was experiencing financial difficulties and the Company had granted a concession to the terms of the loan. Concessions may have included interest rate reductions to below market interest rates, principal forgiveness, restructured amortization schedules and other actions intended to minimize potential losses. As discussed in Note 1 of the Notes to Consolidated Financial Statements for the year ended December 31, 2022, which are included in the Company’s 2022 Form 10-K, once a loan was identified as a TDR, it was accounted for as an impaired loan. The Company had no unfunded commitments to lend to a customer that had a troubled debt restructured loan as of December 31, 2022 and September 30, 2022. Loans modified in a TDR were considered to be in default once the loan became 90 days past due. A TDR ceased being classified as impaired if the loan was subsequently modified at market terms and, had performed according to the modified terms for at least six months, and there had not been any prior principal forgiveness on a cumulative basis. The Company had no loans that subsequently defaulted during the three and nine month periods ended September 30, 2022 and for the year ended December 31, 2022.

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
Allowance for Credit Losses	Sep. 30, 2023
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses As previously mentioned in Note 1, since the adoption of ASC 326 on January 1, 2023, the ACL for loans represents management's estimate of life of loan credit losses in the portfolio as of the end of the period. The ACL related to unfunded commitments is included in other liabilities in the consolidated balance sheet. The following tables present the balance sheet activity in the ACL by portfolio segment for loans for the three and nine month periods ended September 30, 2023 and September 30, 2022 . CECL (dollars in thousands) Balance June 30, 2023 Charge-Offs Recoveries Provision for credit losses on loans Balance, September 30, 2023 Three Months Ended September 30, 2023 Construction, land & land development $ 2,281 $ — $ 1 $ (67) $ 2,215 Other commercial real estate 8,733 — 8 (21) 8,720 Total commercial real estate 11,014 — 9 (88) 10,935 Residential real estate 2,642 — 3 128 2,773 Commercial, financial & agricultural 2,984 (714) 13 737 3,020 Consumer and other 426 (14) 5 223 640 Total allowance for credit losses on loans $ 17,066 $ (728) $ 30 $ 1,000 $ 17,368 (dollars in thousands) Balance December 31, 2022 Adoption of ASU 2016-13 Charge-Offs Recoveries Provision for credit losses on loans Balance, September 30, 2023 Nine Months Ended September 30, 2023 Construction, land & land development $ 1,959 $ 148 $ — $ 9 $ 99 2,215 Other commercial real estate 8,886 (630) — 33 431 8,720 Total commercial real estate 10,845 (482) — 42 530 10,935 Residential real estate 2,354 1,053 — 40 (674) 2,773 Commercial, financial & agricultural 2,709 (690) (1,157) 180 1,978 3,020 Consumer and other 220 66 (17) 14 357 640 Total allowance for credit losses on loans $ 16,128 $ (53) $ (1,174) $ 276 $ 2,191 $ 17,368 Incurred Loss (dollars in thousands) Balance June 30, 2022 Charge-Offs Recoveries Provision Balance, September 30, 2022 Three Months Ended September 30, 2022 Construction, land & land development $ 1,052 $ — $ 5 $ 873 $ 1,930 Other commercial real estate 8,028 — 5 345 8,378 Total commercial real estate 9,080 — 10 1,218 10,308 Residential real estate 1,488 — 23 424 1,935 Commercial, financial & agricultural 1,678 (118) 7 1,163 2,730 Consumer and other 1,717 (33) 10 (1,485) 209 Total allowance for loan losses $ 13,963 $ (151) $ 50 $ 1,320 $ 15,182 (dollars in thousands) Balance December 31, 2021 Charge-Offs Recoveries Provision Balance, September 30, 2022 Nine Months Ended September 30, 2022 Construction, land & land development $ 1,127 $ — $ 16 $ 787 $ 1,930 Other commercial real estate 7,691 (58) 79 666 8,378 Total commercial real estate 8,818 (58) 95 1,453 10,308 Residential real estate 1,805 (48) 45 133 1,935 Commercial, financial & agricultural 1,083 (266) 63 1,850 2,730 Consumer and other 1,204 (54) 25 (966) 209 Total allowance for loan losses $ 12,910 $ (426) $ 228 $ 2,470 $ 15,182 As of March 31, 2023, Colony used a one-year reasonable and supportable forecast period. The changes in loss rates used as the basis for the estimate of credit losses during this period were modeled using historical data from peer banks and macroeconomic forecast data obtained from a third party vendor, which were then applied to Colony's recent default experience as a starting point. As of September 30, 2023, the Company expects that the markets in which it operates will experience stable economic and unemployment conditions with the trend of delinquencies returning to more normalized levels, over the next two years. Management adjusted the historical loss experience for these expectations. No reversion adjustments were necessary, as the starting point for the Company's estimate was a cumulative loss rate covering the expected contractual term of the portfolio. The following table represents the recorded investment in loans by portfolio segment and the balance of the allowance assigned to each segment based on the incurred loss methodology of evaluating the loans for impairment as of December 31, 2022. (dollars in thousands) Construction, land & land development Other commercial real estate Residential real estate Commercial, financial & agricultural Consumer and other Total Year ended December 31, 2022 Period end amount allocated to Individually evaluated for impairment $ 44 $ — $ — $ — $ — $ 44 Collectively evaluated for impairment 1,915 8,853 2,354 2,709 220 16,051 Purchase credit impaired — 33 — — — 33 Ending Balance $ 1,959 $ 8,886 $ 2,354 $ 2,709 $ 220 $ 16,128 Loans Individually evaluated for impairment $ 514 $ 3,754 $ 62 $ — $ — $ 4,330 Collectively evaluated for impairment 228,921 970,895 289,992 223,923 18,247 1,731,978 Purchase credit impaired — 798 — — — 798 Ending Balance $ 229,435 $ 975,447 $ 290,054 $ 223,923 $ 18,247 $ 1,737,106 The Company determines its individual reserves during its quarterly review of substandard loans. This process involves reviewing all loans with a risk grade of 6 or greater and an outstanding balance of $500,000 or more, regardless of the loans impairment classification. The Company maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not unconditionally cancellable. The allowance for off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur, which is based on a historical funding study derived from internal information, and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which are the same loss rates that are used in computing the allowance for credit losses on loans. The allowance for credit losses for unfunded commitments is separately classified on the balance sheet within Other liabilities. The following table presents the balance and activity in the allowance for credit losses for unfunded commitments for the three and nine months ended September 30, 2023. (dollars in thousands) Total Allowance for Credit Losses-Unfunded Commitments Three Months Ended Balance, June 30, 2023 $ 1,570 Change in unfunded commitments — Balance, September 30, 2023 $ 1,570 Nine Months Ended Balance, December 31, 2022 $ — Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 1,661 Change in unfunded commitments (91) Balance, September 30, 2023 $ 1,570

Derivatives

Derivatives	9 Months Ended
Derivatives	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives As part of its asset liability management activities, the Company may enter into interest rate swaps to help manage its interest rate risk position and mitigate exposure to the variability of future cash flows or other forecasted transactions. The Company entered into two interest rate swaps during the second quarter of 2023, to hedge the variability of cash flows due to changes in interest rates on certain variable rate liabilities. There were no additional interest rate swaps during the third quarter of 2023. The notional amount of an interest rate swap does not represent the amount exchanged by the parties. The exchange of cash flows is determined by reference to the notional amount and the other terms of the interest rate swap agreements. On June 23, 2023, the Company entered into a five-year interest rate swap with a notional amount totaling $25.0 million. On June 26, 2023 the Company entered into a three-year interest rate swap with a notional amount totaling $25.0 million. Both of the swaps were designated as cash flow hedges of certain variable rate liabilities. The derivatives are recorded in other assets on the Company's balance sheet and has a value of $914,000 as of September 30, 2023. Gains were recorded on the swap transactions, which totaled $164,000 and $173,000 for the three and nine months ended September 30, 2023, respectively as a component of interest expense in the consolidated statements of income. Amounts reported in accumulated OCI related to swaps are reclassified to interest expense as interest payments are made on the Bank's variable rate liabilities. The following table presents the amounts recorded in the consolidated statements of income and the consolidated statements of comprehensive income relating to the interest rate swaps for the three and nine months ended September 30, 2023. (dollars in thousands) Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Amount of gain recognized in OCI $ 482 $ 681 Amount of gain reclassified from OCI to interest expense 164 173

Borrowings

Borrowings	9 Months Ended
Borrowings	Sep. 30, 2023
Debt Disclosure [Abstract]
Borrowings	Borrowings The following table presents information regarding the Company’s outstanding borrowings at September 30, 2023 and December 31, 2022: (dollars in thousands) September 30, 2023 December 31, 2022 Federal Home Loan Bank advances 185,000 125,000 Other borrowings 63,422 78,352 $ 248,422 $ 203,352 Advances from the Federal Home Loan Bank (“FHLB”) have maturities ranging from 2023 to 2028 and interest rates ranging from 3.69% to 5.57%. As collateral on the outstanding FHLB advances, the Company has provided a blanket lien on its portfolio of qualifying residential first mortgage loans, commercial loans, multifamily loans and HELOC loans. At September 30, 2023, the lendable collateral of those loans pledged is $276.6 million. At September 30, 2023, the Company had remaining credit availability from the FHLB of $587.9 million. The Company may be required to pledge additional qualifying collateral in order to utilize the full amount of the remaining credit line. The Company's debentures issued in connection with trust preferred securities are recorded as other borrowings on the consolidated balance sheets, but, subject to certain limitations, qualify as Tier 1 capital for regulatory capital purposes. At September 30, 2023 and December 31, 2022, $24.2 million of debentures underlying trust preferred securities were outstanding. The proceeds from the offerings were used to fund certain acquisitions, pay off holding company debt and inject capital into the bank subsidiary. The debentures underlying the trust preferred securities require quarterly interest payments. On May 20, 2022, the Company completed a private placement of $40.0 million in fixed-to-floating rate subordinated notes due 2032 (the "Notes"). The Notes will bear a fixed rate of 5.25% for the first five years and will reset quarterly thereafter to then current three-month Secured Overnight Financing Rate, as published by the Federal Reserve Bank of New York, plus 265 basis points for the five-year floating term. The Company is entitled to redeem the Notes, in whole or in part, on any interest payment date on or after May 20, 2027, or at any time, in whole or in part, upon certain other specified events. At September 30, 2023, $39.2 million of the Notes, net of debt issuance costs were outstanding. The aggregate stated maturities of other borrowed money at September 30, 2023 are as follows: (dollars in thousands) Year Amount 2023 $ 50,000 2024 30,000 2025 — 2026 25,000 2027 15,000 2028 and After 128,422 $ 248,422 The Company also has available federal funds lines of credit with various financial institutions totaling $64.5 million, with no outstanding balance at September 30, 2023. The Company has the ability to borrow funds from the Federal Reserve Bank (“FRB”) of Atlanta utilizing the discount window. The discount window is an instrument of monetary policy that allows eligible institutions to borrow money from the FRB on a short-term basis to meet temporary liquidity shortages caused by internal or external disruptions. At September 30, 2023, the Company had $54.3 million borrowing capacity available under this arrangement, with no outstanding balances. The Company would be required to pledge certain available-for-sale investment securities as collateral under this agreement. The Company also has the ability to participate in the FRB Term Funding Program, a new form of one-year emergency funding, with an available line of $100.0 million. The Company would be required to purchase Treasury securities or other debt obligations. The Company has not utilized this source of funding as of September 30, 2023.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted earnings per share reflects the potential dilution of restricted stock. The following table presents earnings per share for the three and nine months ended September 30, 2023 and 2022. (dollars in thousands, except per share data) Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator Net income available to common stockholders $ 5,804 $ 5,252 $ 16,149 $ 13,991 Denominator Weighted average number of common shares Outstanding for basic earnings per common share 17,569,493 17,645,119 17,581,817 17,042,838 Weighted-average number of shares outstanding for diluted earnings per common share 17,569,493 17,645,119 17,581,817 17,042,838 Earnings per share - basic $ 0.33 $ 0.30 $ 0.92 $ 0.82 Earnings per share - diluted $ 0.33 $ 0.30 $ 0.92 $ 0.82

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Credit-Related Financial Instruments. The Company is a party to credit related financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and commercial letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making commitments as it does for on-balance sheet instruments. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary, upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral held varies, but may include cash or cash equivalents, negotiable instruments, real estate, accounts receivable, inventory, oil, gas and mineral interests, property, plant, and equipment. At September 30, 2023 and December 31, 2022 the following financial instruments were outstanding whose contract amounts represent credit risk: Contract Amount (dollars in thousands) September 30, 2023 December 31, 2022 Loan commitments $ 402,949 $ 379,997 Letters of credit 5,656 3,333 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for equity lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company, is based on management’s credit evaluation of the customer. Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. These lines of credit are uncollateralized and usually do not contain a specified maturity date and may not be drawn upon to the total extent to which the Company is committed. Standby and performance letters of credit are conditional lending commitments issued by the Company to guarantee the performance of a customer to a third party. Those letters of credit are primarily issued to support public and private borrowing arrangements. Essentially all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Legal Contingencies . In the ordinary course of business, there are various legal proceedings pending against the Company and the Bank. As of September 30, 2023, the aggregate liabilities, if any, arising from such proceedings would not, in the opinion of management, have a material adverse effect on the Company’s consolidated financial position.

Fair Value of Financial Instrum

Fair Value of Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments and Fair Value Measurements	Fair Value of Financial Instruments and Fair Value MeasurementsGenerally accepted accounting standards in the U.S. require disclosure of fair value information about financial instruments, whether or not recognized on the face of the balance sheet, for which it is practicable to estimate that value. The assumptions used in the estimation of the fair value of the Company and the Bank’s financial instruments are detailed hereafter. Where quoted prices are not available, fair values are based on estimates using discounted cash flows and other valuation techniques. The use of discounted cash flows can be significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Generally accepted accounting principles related to Fair Value Measurements define fair value, establish a framework for measuring fair value, establish a three-level valuation hierarchy for disclosure of fair value measurement and enhance disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 inputs to the valuation methodology are unobservable and represent the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. The following disclosures should not be considered a surrogate of the liquidation value of the Company, but rather a good-faith estimate of the increase or decrease in value of financial instruments held by the Company since purchase, origination or issuance. Cash and short-term investments – For cash, due from banks, bank-owned deposits and federal funds sold, the carrying amount is a reasonable estimate of fair value and is classified as Level 1. Investment securities – Fair values for investment securities are based on quoted market prices where available and classified as Level 1. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable instruments and classified as Level 2. If a comparable is not available, the investment securities are classified as Level 3. Other investments, at cost – The fair value of other bank stock approximates carrying value and is classified as Level 2. Fair values for investment funds are based on quoted market prices where available and classified as Level 1. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable instruments and classified as Level 2. If a comparable is not available, the investment securities are classified as Level 3. Loans held for sale – The fair value of loans held for sale is determined on outstanding commitments from third party investors in the secondary markets and is classified within Level 2 of the valuation hierarchy. Loans – The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings. For variable rate loans, the carrying amount is a reasonable estimate of fair value. Most loans are classified as Level 3. Derivative instruments – The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The interest rate swaps are classified as Level 2. Deposit liabilities – The fair value of demand deposits, savings accounts and certain money market deposits is the amount payable on demand at the reporting date and is classified as Level 2. The fair value of deposits is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities and is classified as Level 2. Federal funds purchased – The carrying amounts of Federal funds purchased approximate fair value and are classified as Level 2. Federal Home Loan Bank advances – The fair value of Federal Home Loan Bank advances is estimated by discounting the future cash flows using the current rates at which similar advances would be obtained. Federal Home Loan Bank advances are classified as Level 2. Other borrowings – The fair value of other borrowings is calculated by discounting contractual cash flows using an estimated interest rate based on current rates available to the Company for debt of similar remaining maturities and collateral terms. Other borrowings is classified as Level 2 due to their expected maturities. Disclosures of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis, are required in the financial statements. The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2023 and December 31, 2022 are as follows: Fair Value Measurements (dollars in thousands) Carrying Estimated Level Level Level September 30, 2023 Assets Cash and short-term investments $ 141,340 $ 141,340 $ 141,340 $ — $ — Investment securities available for sale 399,547 399,547 — 386,102 13,445 Investment securities held to maturity 451,056 385,065 — 385,065 — Other investments, at cost 17,323 17,323 — 17,323 — Loans held for sale 27,246 27,246 — 27,246 — Loans, net 1,847,603 1,638,269 — — 1,638,269 Derivative instruments 914 914 — 914 — Liabilities Deposits 2,591,332 2,582,790 — 2,582,790 — Federal Home Loan Bank advances 185,000 189,065 — 189,065 — Other borrowings 63,422 48,475 — 48,475 — Fair Value Measurements (dollars in thousands) Carrying Estimated Level Level Level December 31, 2022 Assets Cash and short-term investments $ 80,678 $ 80,678 $ 80,678 $ — $ — Investment securities available for sale 432,553 432,553 — 416,957 15,596 Investment securities held to maturity 465,858 411,264 — 411,264 — Other investments, at cost 13,793 13,793 — 13,003 790 Loans held for sale 17,743 17,743 — 17,743 — Loans, net 1,720,978 1,469,707 — — 1,469,707 Liabilities Deposits 2,490,997 2,489,481 — 2,489,481 — Federal Home Loan Bank advances 125,000 125,163 — 125,163 — Other borrowings 78,352 69,930 — 69,930 — Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial instruments include deferred income taxes and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring and nonrecurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy: Securities – Where quoted prices are available in an active market, securities are classified within level 1 of the valuation hierarchy. Level 1 inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Examples of such instruments, which would generally be classified within level 2 of the valuation hierarchy, include certain collateralized mortgage and debt obligations and certain high-yield debt securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within level 3 of the valuation hierarchy. When measuring fair value, the valuation techniques available under the market approach, income approach and/or cost approach are used. The Company’s evaluations are based on market data and the Company employs combinations of these approaches for its valuation methods depending on the asset class. Collateral dependent impaired loans – Prior to the adoption of ASU 2016-13, impaired loans were those loans which the Company measured impairment generally based on the fair value of the loan’s collateral. Fair value was generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets were included as Level 3 fair values, based upon the lowest level of input that was significant to the fair value measurements. Other Real Estate Owned – Other real estate owned assets are adjusted to fair value less estimated selling costs upon transfer of the loans to other real estate owned. Typically, an external, third-party appraisal is performed on the collateral upon transfer into the other real estate owned account to determine the asset’s fair value. Subsequent adjustments to the collateral’s value may be based upon either updated third-party appraisals or management’s knowledge of the collateral and the current real estate market conditions. Appraised amounts used in determining the asset’s fair value, whether internally or externally prepared, are discounted 10% to account for selling and marketing costs. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a level 3 classification of the inputs for determining fair value. Because of the high degree of judgment required in estimating the fair value of other real estate owned assets and because of the relationship between fair value and general economic conditions, we consider the fair value of other real estate owned assets to be highly sensitive to changes in market conditions. Assets Measured at Fair Value on a Recurring and Nonrecurring Basis – The following tables present the recorded amount of the Company’s assets measured at fair value on a recurring and nonrecurring basis as of September 30, 2023 and December 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements fall. The tables below include only collateral dependent impaired loans with a specific reserve and only other real estate properties with a valuation allowance at September 30, 2023 and December 31, 2022. Those impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances. Fair Value Measurements at Reporting Date Using (dollars in thousands) Total Fair Value (Level 1) (Level 2) (Level 3) September 30, 2023 Nonrecurring Collateral dependent impaired loans $ 628 $ — $ — $ 628 Other real estate owned 812 — — 812 Total nonrecurring assets $ 1,440 $ — $ — $ 1,440 Fair Value Measurements at Reporting Date Using (dollars in thousands) Total Fair (Level 1) (Level 2) (Level 3) December 31, 2022 Nonrecurring Collateral dependent impaired loans $ 521 $ — $ — $ 521 Other real estate owned 651 — — 651 Total nonrecurring assets $ 1,172 $ — $ — $ 1,172 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) The following table presents quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 of the fair value hierarchy measured on a nonrecurring basis at September 30, 2023 and December 31, 2022. This table is comprised primarily of collateral dependent impaired loans and other real estate owned: (dollars in thousands) September 30, 2023 Valuation Unobservable Range Collateral dependent impaired loans $ 628 Appraised Value Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell — % 50 % Other real estate owned 812 Appraised Value/Comparable Sales Discounts to reflect current market conditions and estimated costs to sell — % 20 % (dollars in thousands) December 31, 2022 Valuation Unobservable Range Collateral dependent impaired loans $ 521 Appraised Value Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 25 % 50 % Other real estate owned 651 Appraised Value/Comparable Sales Discounts to reflect current market conditions and estimated costs to sell — % 20 % The following table presents quantitative information about recurring level 3 fair value measurements as of September 30, 2023 and December 31, 2022. As of September 30, 2023 (dollars in thousands) Fair Value Valuation Unobservable Range Available for sale securities $ 13,445 Discounted Cash Flow Discount Rate or Yield N/A* Other investments — Discounted Cash Flow Discount Rate or Yield N/A* As of December 31, 2022 (dollars in thousands) Fair Value Valuation Unobservable Range Available for sale securities $ 15,596 Discounted Cash Flow Discount Rate or Yield N/A* Other investments 790 Discounted Cash Flow Discount Rate or Yield N/A* * The Company relies on a third-party pricing service to value its securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company. The table below presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the three and nine months ended September 30, 2023. Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 (dollars in thousands) Available for sale securities Other Investments Available for sale securities Other Investments Balance, Beginning $ 13,805 $ — $ 15,596 $ 790 Redemptions/Payments (482) — (2,137) (800) Fair value adjustments 122 — (394) 10 Transfer to Level 3 — — 380 — Balance, Ending $ 13,445 $ — $ 13,445 $ — The Company’s policy is to recognize transfers in and transfers out of levels 1, 2 and 3 as of the end of a reporting period. There was $0 and $380,000 in transfers between levels for the three and nine months ended September 30, 2023, respectively, and no transfers of securities between levels for the three and nine months ended September 30, 2022.

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment InformationThe Company’s operating segments include banking, mortgage banking and small business specialty lending division. The reportable segments are determined by the products and services offered, and internal reporting. The Bank segment derives its revenues from the delivery of full-service financial services, including retail and commercial banking services and deposit accounts. The Mortgage Banking segment derives its revenues from the origination and sales of residential mortgage loans held for sale. The Small Business Specialty Lending Division segment derives its revenue from the origination, sales and servicing of Small Business Administration loans and other government guaranteed loans. Segment performance is evaluated using net interest income and noninterest income. Income taxes are allocated based on income before income taxes, and indirect expenses (includes management fees) are allocated based on various internal factors for each segment. Transactions among segments are made at fair value. Information reported internally for performance assessment follows. The following tables present information reported internally for performance assessment for the three and nine months ended September 30, 2023 and 2022: (dollars in thousands) Bank Mortgage Small Totals Nine Months Ended September 30, 2023 Net Interest Income $ 57,478 $ 86 $ 1,806 $ 59,370 Provision for Credit Losses 1,246 — 854 2,100 Noninterest Income 16,584 5,017 4,728 26,329 Noninterest Expenses 52,115 5,723 5,640 63,478 Income Taxes 4,089 (125) 8 3,972 Segment Profit $ 16,612 $ (495) $ 32 $ 16,149 Segments Assets at September 30, 2023 $ 2,999,071 $ 9,991 $ 84,761 $ 3,093,823 Full time employees at September 30, 2023 382 45 33 460 (dollars in thousands) Bank Mortgage Small Totals Nine Months Ended September 30, 2022 Net Interest Income $ 58,203 $ 145 $ 924 $ 59,272 Provision for Credit Losses 2,470 — — 2,470 Noninterest Income 13,723 7,993 5,621 27,337 Noninterest Expenses 54,742 7,799 5,107 67,648 Income Taxes 2,174 104 222 2,500 Segment Profit $ 12,540 $ 235 $ 1,216 $ 13,991 Segments Assets at December 31, 2022 $ 2,857,893 $ 18,221 $ 60,456 $ 2,936,570 Full time employees at September 30, 2022 396 61 29 486 (dollars in thousands) Bank Mortgage Small Totals Three Months Ended September 30, 2023 Net Interest Income $ 18,778 $ 52 $ 791 $ 19,621 Provision for Credit Losses 286 — 714 1,000 Noninterest Income 6,233 1,725 1,760 9,718 Noninterest Expenses 16,653 2,040 2,188 20,881 Income Taxes 1,777 (53) (70) 1,654 Segment Profit $ 6,295 $ (210) $ (281) $ 5,804 (dollars in thousands) Bank Mortgage Small Totals Three Months Ended September 30, 2022 Net Interest Income $ 20,541 $ 17 $ 340 $ 20,898 Provision for Credit Losses 1,320 — — 1,320 Noninterest Income 4,255 2,345 1,546 8,146 Noninterest Expenses 17,537 2,289 1,541 21,367 Income Taxes 1,047 10 48 1,105 Segment Profit $ 4,892 $ 63 $ 297 $ 5,252

Regulatory Capital Matters

Regulatory Capital Matters	9 Months Ended
Regulatory Capital Matters	Sep. 30, 2023
Banking And Thrift Disclosure [Abstract]
Regulatory Capital Matters	Regulatory Capital Matters The amount of dividends payable to the parent company from the subsidiary bank is limited by various banking regulatory agencies. Upon approval by regulatory authorities, the Bank may pay cash dividends to the parent company in excess of regulatory limitations. As of September 30, 2023, the Company and the Bank were categorized as well-capitalized under the regulatory framework for prompt corrective action in effect at such time. To be categorized as well-capitalized, the Company and the Bank must have exceeded the well-capitalized guideline ratios in effect at the time, as set forth in the tables below, and have met certain other requirements. Management believes that the Company and the Bank exceeded all well-capitalized requirements at September 30, 2023, and there have been no conditions or events since quarter-end that would change the status of well-capitalized. The following tables summarize regulatory capital information as of September 30, 2023 and December 31, 2022 on a consolidated basis and for the subsidiary, as defined. Regulatory capital ratios for September 30, 2023 and December 31, 2022 were calculated in accordance with the Basel III rules. (dollars in thousands) Actual For Capital To Be Well Amount Ratio Amount Ratio Amount Ratio As of September 30, 2023 Total Capital to Risk-Weighted Assets Consolidated $ 331,389 15.11 % $ 175,454 8.00 % $ 219,318 10.00 % Colony Bank 293,184 13.43 174,644 8.00 218,305 10.00 Tier 1 Capital to Risk-Weighted Assets Consolidated 273,258 12.46 131,585 6.00 175,447 8.00 Colony Bank 274,246 12.56 131,009 6.00 174,679 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 249,029 11.36 98,647 4.50 142,490 6.50 Colony Bank 274,246 12.56 98,257 4.50 141,927 6.50 Tier 1 Capital to Average Assets Consolidated 273,258 8.93 122,400 4.00 153,000 5.00 Colony Bank 274,246 8.99 122,023 4.00 152,528 5.00 (dollars in thousands) Actual For Capital To Be Well Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022 Total Capital to Risk-Weighted Assets Consolidated $ 318,250 15.11 % $ 168,498 8.00 % N/A N/A Colony Bank 272,812 12.99 168,014 8.00 $ 210,017 10.00 % Tier 1 Capital to Risk-Weighted Assets Consolidated 262,999 12.49 126,341 6.00 N/A N/A Colony Bank 256,684 12.22 126,031 6.00 168,042 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 238,770 11.34 94,750 4.50 N/A N/A Colony Bank 256,684 12.22 94,524 4.50 136,534 6.50 Tier 1 Capital to Average Assets Consolidated 262,999 9.17 114,721 4.00 N/A N/A Colony Bank 256,684 8.97 114,463 4.00 143,079 5.00

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividend On October 25, 2023, the Board of Directors declared a quarterly cash dividend of $0.11 per share, to be paid on its common stock on November 22, 2023, to shareholders of record as of the close of business on November 8, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 5,804	$ 5,252	$ 16,149	$ 13,991

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2023
Accounting Policies [Abstract]
Presentation	Presentation Colony Bankcorp, Inc. (the “Company”) is a bank holding company located in Fitzgerald, Georgia. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Colony Bank, Fitzgerald, Georgia (the “Bank”). The “Company” or “our,” as used herein, includes Colony Bank, except where the context requires otherwise. In July 2019, a new subsidiary of the Company was incorporated under the name Colony Risk Management, Inc. Colony Risk Management, Inc. is a subsidiary of the Company and is located in Las Vegas, Nevada. It is a captive insurance subsidiary which insures various liability and property damage policies for the Company and its related subsidiaries. Colony Risk Management is regulated by the State of Nevada Division of Insurance. All adjustments consisting of normal recurring accruals which are, in the opinion of management, necessary for fair presentation of the interim consolidated financial statements, have been included and fairly and accurately present the financial position, results of operations and cash flows of the Company. All significant intercompany accounts have been eliminated in consolidation. The accounting and reporting policies of the Company conform to generally accepted accounting principles and practices utilized in the commercial banking industry for interim financial information and Regulation S-X. Accordingly, the accompanying unaudited interim consolidated financial statements do not include all of the information or notes required for complete financial statements. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results which may be expected for the year ending December 31, 2023. These statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”).
Nature of Operations	Nature of Operations The Bank provides a full range of retail, commercial and mortgage banking services as well as wealth management and insurance services for consumers and small- to medium-size businesses located primarily in north central, south and coastal Georgia and in Alabama through a loan production office. The Bank is headquartered in Fitzgerald, Georgia with banking and mortgage offices in Albany, Ashburn, Athens, Broxton, Centerville, Columbus, Cordele, Douglas, Eastman, Fitzgerald, LaGrange, Leesburg, Macon, Moultrie, Quitman, Rochelle, Savannah, Soperton, Statesboro, Sylvester, Tifton, Valdosta and Warner Robins and a loan production office in Birmingham, Alabama. Lending and investing activities are funded primarily by deposits gathered through its retail banking office network.
Use of Estimates	Use of Estimates In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and fair value of assets acquired and liabilities assumed in a business combination, including goodwill impairment.
Reclassifications	Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to statement presentations selected for 2023. Such reclassifications have not materially affected previously reported stockholders’ equity or net income.
Concentrations of Credit Risk	Concentrations of Credit Risk Concentrations of credit risk can exist in relation to individual borrowers or groups of borrowers, certain types of collateral, certain types of industries, or certain geographic regions. The Company has a concentration in real estate loans as well as a geographic concentration that could pose an adverse credit risk. At September 30, 2023, approximately 83% of the Company’s loan portfolio was concentrated in loans secured by real estate. A substantial portion of borrowers’ ability to honor their contractual obligations is dependent upon the viability of the real estate economic sector. Management continues to monitor these concentrations and has considered these concentrations in its allowance for credit loss analysis. The success of the Company is dependent, to a certain extent, upon the economic conditions in the geographic markets it serves. Adverse changes in the economic conditions in these geographic markets would likely have a material adverse effect on the Company’s results of operations and financial condition. The operating results of the Company depend primarily on its net interest income. Accordingly, operations are subject to risks and uncertainties surrounding the exposure to changes in the interest rate environment. At times, the Company may have cash and cash equivalents at financial institutions in excess of federal deposit insurance limits. The Company places its cash and cash equivalents with high credit quality financial institutions whose credit ratings are monitored by management to minimize credit risk.
Allowance for Credit Losses ("ACL") - Loans	Allowance for Credit Losses ("ACL") – Loans The current expected credit loss (“CECL”) approach requires an estimate of the credit losses expected over the life of an exposure (or pool of exposures). It replaced the incurred loss approach’s threshold that delayed the recognition of a credit loss until it was probable a loss event was incurred. The estimate of expected credit losses is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. Historical loss experience is generally the starting point for estimating expected credit losses. The Company then considers whether the historical loss experience should be adjusted for asset-specific risk characteristics or current conditions at the reporting date that did not exist over the historical period used. The Company also considers future economic conditions and portfolio performance as part of a reasonable and supportable forecast period. The ACL is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Accrued interest receivable is excluded from the estimate of credit losses. Management determines the ACL balance using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit behaviors along with model judgments provide the basis for the estimation of expected credit losses. Adjustments to modeled loss estimates may be 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 environmental conditions, such as changes in economic conditions, property values, or other relevant factors. For the majority of loans and leases the ACL is calculated using a discounted cash flow methodology applied at a loan level with a one-year reasonable and supportable forecast period and a two-year straight-line reversion period. The ACL-loans is measured on a collective basis when similar risk characteristics exist. The Company has identified the following portfolio segments and calculates the ACL for each using a discounted cash flow methodology at the loan level, with loss rates, prepayment assumptions and curtailment assumptions driven by each loan’s collateral type: • Construction, land & land development - Risks common to construction, land & development loans are cost overruns, changes in market demand for property, inadequate long-term financing arrangements and declines in real estate values. • Other commercial real estate - Loans in this category are susceptible to business failures and declines in general economic conditions, including declines in real estate value, declines in occupancy rates, and lack of suitable alternative use for the property. • Commercial, financial & agricultural - Risks to this loan category include the inability to monitor the condition of the collateral, which often consists of inventory, accounts receivable and other non-real estate assets. Equipment and inventory obsolescence can also pose a risk. Declines in general economic conditions and other events can cause cash flows to fall to levels insufficient to service debt. • Residential real estate - Residential real estate loans are susceptible to weakening general economic conditions, increases in unemployment rates and declining real estate values. • Consumer and other - Risks common to consumer direct loans include unemployment and changes in local economic conditions as well as the inability to monitor collateral consisting of personal property. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Allowance for Credit Losses – Off-Balance Sheet Credit Exposures Management estimates expected credit losses on commitments to extend credit over the contractual period during which the Company is exposed to credit risk on the underlying commitments. The ACL on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. 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 ACL is calculated using the same aggregate reserve rates calculated for the funded portion of loans at the portfolio level applied to the amount of commitments expected to fund. Allowance for Credit Losses – Held-to-Maturity Securities ("HTM") Management measures current expected credit losses on HTM debt securities on a collective basis by major security type. The estimate of current expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Management classifies the HTM portfolio into the following major security types: U.S. Treasury securities, U.S. agency securities, State, county & municipal securities, and Mortgage-backed securities. Accrued interest receivable on HTM debt is excluded from the estimate of credit losses. All of the residential and commercial mortgage-backed securities held by the Company as HTM are issued by U.S. Government agencies and government sponsored entities. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The state and political subdivision securities are also highly rated by major rating agencies. Allowance for Credit Losses – Available-for-Sale Securities ("AFS") For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or whether it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any amount of unrealized loss that has not been recorded through an ACL is recognized in other comprehensive income. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. Changes in the ACL are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the ACL when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met.
Derivatives	Derivatives The Company records cash flow hedges at the inception of a derivative contract based on management’s intentions and belief as to the likely effectiveness of the hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is recorded in other comprehensive income ("OCI") and is reclassified into earnings in the same period during which the hedged transaction affects earnings. The changes in the fair value of a derivative that is not highly effective in hedging the expected cash flows of the hedged item are recognized immediately as interest expense in the consolidated statements of income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income or noninterest expense. Cash flows from hedges are classified in the consolidated statements of cash flows in the same manner as the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged item. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in cash flows of the hedged item, the derivative is settled or terminated, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as interest expense. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in OCI are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Changes in Accounting Principles	Changes in Accounting Principles ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, was adopted by the Company on January 1, 2023, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor in accordance with Topic 842 on leases. In addition, ASC 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities management does not intend to sell or believes that it is more likely than not they will be required to sell. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost, and off-balance sheet credit exposures. 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 net decrease to retained earnings of $1.2 million, net of tax, as of January 1, 2023 for the cumulative effect of adopting ASC 326, primarily related to credit losses for unfunded commitments. ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, was adopted by the Company on January 1, 2023. This ASU provides guidance on eliminating the requirement for classification of and disclosures around troubled debt restructurings (TDRs). The purpose of this guidance is to eliminate unnecessary and overly-complex disclosures of loans that are already incorporated into the allowance for credit losses and related disclosures while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Modified terms include one or a combination of the following: a reduction of the stated interest rate of the loan, an extension of the term or amortization period, a more than insignificant payment delay or principal forgiveness. As of September 30, 2023, the Company had two loans that met the requirements of this disclosure and are included in Note 3 - Loans. This ASU further requires the disclosure of current-period gross charge-offs by year of origination. Current period gross charge-offs are included in the term loan vintage table in Note 3 - Loans. In March 2023, the FASB issued ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. ASU 2023-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. ASU 2023-02 is not expected to have a material impact on the Company’s consolidated financial statements.
Earnings Per Share	Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted earnings per share reflects the potential dilution of restricted stock.
Fair Value of Financial Instruments and Fair Value Measurements	Cash and short-term investments – For cash, due from banks, bank-owned deposits and federal funds sold, the carrying amount is a reasonable estimate of fair value and is classified as Level 1. Investment securities – Fair values for investment securities are based on quoted market prices where available and classified as Level 1. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable instruments and classified as Level 2. If a comparable is not available, the investment securities are classified as Level 3. Other investments, at cost – The fair value of other bank stock approximates carrying value and is classified as Level 2. Fair values for investment funds are based on quoted market prices where available and classified as Level 1. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable instruments and classified as Level 2. If a comparable is not available, the investment securities are classified as Level 3. Loans held for sale – The fair value of loans held for sale is determined on outstanding commitments from third party investors in the secondary markets and is classified within Level 2 of the valuation hierarchy. Loans – The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings. For variable rate loans, the carrying amount is a reasonable estimate of fair value. Most loans are classified as Level 3. Derivative instruments – The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The interest rate swaps are classified as Level 2. Deposit liabilities – The fair value of demand deposits, savings accounts and certain money market deposits is the amount payable on demand at the reporting date and is classified as Level 2. The fair value of deposits is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities and is classified as Level 2. Federal funds purchased – The carrying amounts of Federal funds purchased approximate fair value and are classified as Level 2. Federal Home Loan Bank advances – The fair value of Federal Home Loan Bank advances is estimated by discounting the future cash flows using the current rates at which similar advances would be obtained. Federal Home Loan Bank advances are classified as Level 2. Other borrowings – The fair value of other borrowings is calculated by discounting contractual cash flows using an estimated interest rate based on current rates available to the Company for debt of similar remaining maturities and collateral terms. Other borrowings is classified as Level 2 due to their expected maturities.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
Investment Securities (Tables)	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity along with gross unrealized gains and losses are summarized as follows: (dollars in thousands) September 30, 2023 Amortized Gross Gross Fair Value Securities Available for Sale: U.S. treasury securities $ 799 $ — $ (8) $ 791 U.S. agency securities 4,613 — (510) 4,103 Asset backed securities 27,250 6 (411) 26,845 State, county & municipal securities 124,882 — (23,228) 101,654 Corporate debt securities 54,694 — (7,665) 47,029 Mortgage-backed securities 251,658 — (32,533) 219,125 Total $ 463,896 $ 6 $ (64,355) $ 399,547 September 30, 2023 Amortized Gross Gross Fair Value Securities Held to Maturity: U.S. treasury securities $ 92,880 $ — $ (5,483) $ 87,397 U.S. agency securities 16,314 — (1,975) 14,339 State, county & municipal securities 136,546 — (22,986) 113,560 Mortgage-backed securities 205,316 — (35,547) 169,769 Total $ 451,056 $ — $ (65,991) $ 385,065 December 31, 2022 Amortized Gross Gross Fair Value Securities Available for Sale: U.S. treasury securities $ 1,644 $ — $ (22) $ 1,622 U.S. agency securities 5,035 — (450) 4,585 Asset backed securities 31,468 — (1,480) 29,988 State, county & municipal securities 126,119 — (21,363) 104,756 Corporate debt securities 54,741 164 (5,320) 49,585 Mortgage-backed securities 271,199 9 (29,191) 242,017 Total $ 490,206 $ 173 $ (57,826) $ 432,553 December 31, 2022 Amortized Gross Gross Fair Value Securities Held to Maturity: U.S. treasury securities $ 91,615 $ — $ (4,149) $ 87,466 U.S. agency securities 16,409 — (1,838) 14,571 State, county & municipal securities 136,138 32 (19,518) 116,652 Mortgage-backed securities 221,696 — (29,121) 192,575 Total $ 465,858 $ 32 $ (54,626) $ 411,264
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity	This is often the case with mortgage-backed securities, which are disclosed separately in the table below. Available for Sale Held to Maturity (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 1,014 $ 1,002 $ — $ — Due after one year through five years 15,542 14,127 91,725 86,380 Due after five years through ten years 95,886 79,640 75,296 64,377 Due after ten years 99,796 85,653 78,719 64,539 $ 212,238 $ 180,422 $ 245,740 $ 215,296 Mortgage-backed securities 251,658 219,125 205,316 169,769 $ 463,896 $ 399,547 $ 451,056 $ 385,065
Schedule of Continuous Unrealized Loss Position	Information pertaining to available-for-sale securities with gross unrealized losses at September 30, 2023 and December 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows: Less Than 12 Months 12 Months or Greater Total (dollars in thousands) Fair Gross Fair Gross Fair Gross September 30, 2023 U.S. treasury securities $ — $ — $ 791 $ (8) $ 791 $ (8) U.S. agency securities — — 4,103 (510) 4,103 (510) Asset backed securities 5,934 (14) 18,598 (397) 24,532 (411) State, county & municipal securities 1,457 (276) 100,197 (22,952) 101,654 (23,228) Corporate debt securities 7,660 (1,632) 39,369 (6,033) 47,029 (7,665) Mortgage-backed securities 16,088 (424) 203,037 (32,109) 219,125 (32,533) $ 31,139 $ (2,346) $ 366,095 $ (62,009) $ 397,234 $ (64,355) December 31, 2022 U.S. treasury securities $ 1,377 $ (17) $ 245 $ (5) $ 1,622 $ (22) U.S. agency securities 3,221 (257) 1,364 (193) 4,585 (450) Asset backed securities 10,780 (319) 19,208 (1,161) 29,988 (1,480) State, county & municipal securities 29,284 (3,629) 75,472 (17,734) 104,756 (21,363) Corporate debt securities 17,258 (1,463) 30,651 (3,857) 47,909 (5,320) Mortgage-backed securities 122,031 (7,890) 119,409 (21,301) 241,440 (29,191) $ 183,951 $ (13,575) $ 246,349 $ (44,251) $ 430,300 $ (57,826) Information pertaining to held-to-maturity securities with gross unrealized losses at September 30, 2023 and December 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows: Less Than 12 Months 12 Months or Greater Total (dollars in thousands) Fair Gross Fair Gross Fair Gross September 30, 2023 U.S. treasury securities $ — $ — $ 87,397 $ (5,483) $ 87,397 $ (5,483) U.S. agency securities — — 14,339 (1,975) 14,339 (1,975) State, county & municipal securities 18,041 (1,349) 95,519 (21,637) 113,560 (22,986) Mortgage-backed securities — — 169,769 (35,547) 169,769 (35,547) $ 18,041 $ (1,349) $ 367,024 $ (64,642) $ 385,065 $ (65,991) December 31, 2022 U.S. treasury securities $ — $ — $ 87,466 $ (4,149) $ 87,466 $ (4,149) U.S. agency securities — — 14,571 (1,838) 14,571 (1,838) State, county & municipal securities 9,858 (1,392) 105,734 (18,126) 115,592 (19,518) Mortgage-backed securities 13,580 (729) 178,995 (28,392) 192,575 (29,121) $ 23,438 $ (2,121) $ 386,766 $ (52,505) $ 410,204 $ (54,626)

Loans (Tables)

Loans (Tables)	9 Months Ended
Loans (Tables)	Sep. 30, 2023
Receivables [Abstract]
Schedule of Loans Segregated by Class	The following table presents the composition of loans segregated by class of loans, as of September 30, 2023 and December 31, 2022. (dollars in thousands) September 30, 2023 December 31, 2022 Construction, land & land development $ 245,268 $ 229,435 Other commercial real estate 969,168 975,447 Total commercial real estate 1,214,436 1,204,882 Residential real estate 339,501 290,054 Commercial, financial & agricultural 252,725 223,923 Consumer and other 58,309 18,247 Total Loans $ 1,864,971 $ 1,737,106 (dollars in thousands) September 30, 2023 December 31, 2022 Construction, land & land development $ 7,665 $ 5,888 Other commercial real estate 35,316 32,642 Total commercial real estate 42,981 38,530 Residential real estate 11,757 8,036 Commercial, financial & agricultural 27,645 11,787 Consumer and other — — Total Loans $ 82,383 $ 58,353
Schedule of Loan Portfolio by Credit Quality Indicators	The following table presents the loan portfolio segregated by class of loans and the risk category of term loans by vintage year, which is the year of origination or most recent renewal, as of September 30, 2023. Those loans with a risk grade of 1, 2, 3, 4 and 5 have been combined in the pass column for presentation purposes. There were no loans with a risk rating of "doubtful" or "loss" at September 30, 2023. Term Loans Amortized Cost Basis by Origination Year (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolvers Revolvers converted to term loans Total September 30, 2023 Construction, land & land development Risk rating Pass $ 93,480 $ 105,461 $ 27,729 $ 7,808 $ 1,031 $ 5,955 $ 2,535 $ 31 $ 244,030 Special Mention — — 25 — — 33 — — 58 Substandard — 883 5 — 21 146 125 — 1,180 Total Construction, land & land development 93,480 106,344 27,759 7,808 1,052 6,134 2,660 31 245,268 Current period gross write offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other commercial real estate Risk rating Pass 40,254 340,854 208,444 92,693 84,083 155,802 25,603 1,079 948,812 Special Mention — 802 419 2,128 4,550 4,696 35 — 12,630 Substandard — 4,423 287 — — 2,758 258 — 7,726 Total Other commercial real estate 40,254 346,079 209,150 94,821 88,633 163,256 25,896 1,079 969,168 Current period gross write offs — — — — — — — — — Residential real estate Risk rating Pass 55,868 119,728 52,516 23,033 9,108 45,226 20,809 — 326,288 Special Mention 296 809 309 51 555 4,461 98 — 6,579 Substandard 253 838 208 271 277 4,777 10 — 6,634 Total Residential real estate 56,417 121,375 53,033 23,355 9,940 54,464 20,917 — 339,501 Current period gross write offs — — — — — — — — — Commercial, financial & agricultural Risk rating Pass 62,802 57,302 25,445 14,308 5,415 14,495 56,939 318 237,024 Special Mention 8,471 544 311 390 25 33 826 — 10,600 Substandard 215 88 4,190 129 30 326 98 25 5,101 Total Commercial, financial & agricultural 71,488 57,934 29,946 14,827 5,470 14,854 57,863 343 252,725 Current period gross write offs — 692 404 — — 61 — — 1,157 Consumer and other Risk rating Pass 47,123 4,622 2,381 1,483 1,017 1,004 445 — 58,075 Special Mention 77 4 43 14 31 2 — — 171 Substandard 16 23 2 7 5 10 — — 63 Total Consumer and other 47,216 4,649 2,426 1,504 1,053 1,016 445 — 58,309 Current period gross write offs — 12 1 4 — — — — 17 Total Loans Risk rating Pass 299,527 627,968 316,516 139,324 100,653 222,484 106,330 1,428 1,814,230 Special Mention 8,844 2,158 1,108 2,583 5,161 9,224 959 — 30,037 Substandard 484 6,255 4,692 406 333 8,018 491 25 20,704 Total Loans $ 308,855 $ 636,381 $ 322,316 $ 142,313 $ 106,147 $ 239,726 $ 107,780 $ 1,453 $ 1,864,971 Total current period gross write offs $ — $ 705 $ 404 $ 4 $ — $ 61 $ — $ — $ 1,174 The following table presents the loan portfolio by credit quality indicator (risk grade) as of December 31, 2022. Those loans with a risk grade of 1, 2, 3, 4 and 5 have been combined in the pass column for presentation purposes. There were no loans with a risk rating of "doubtful" or "loss" at December 31, 2022. (dollars in thousands) Special December 31, 2022 Pass Mention Substandard Total Construction, land & land development $ 228,494 $ 290 $ 651 $ 229,435 Other commercial real estate 951,126 17,562 6,759 975,447 Total commercial real estate 1,179,620 17,852 7,410 1,204,882 Residential real estate 277,930 6,574 5,550 290,054 Commercial, financial & agricultural 220,908 885 2,130 223,923 Consumer and other 18,157 54 $ 36 18,247 Total Loans $ 1,696,615 $ 25,365 $ 15,126 $ 1,737,106
Summary of Age Analysis of Past Due Loans	The following table presents the aging of the amortized cost basis of loans by aging category and accrual status as of September 30, 2023 and December 31, 2022: (dollars in thousands) 30-89 Days 90 Days Total Accruing Nonaccrual Current Loans Total Loans September 30, 2023 Construction, land & land development $ — $ — $ — $ 92 $ 245,176 $ 245,268 Other commercial real estate 469 — 469 1,589 967,110 969,168 Total commercial real estate 469 — 469 1,681 1,212,286 1,214,436 Residential real estate 1,185 — 1,185 3,289 335,027 339,501 Commercial, financial & agricultural 131 — 131 4,275 248,319 252,725 Consumer and other 14 9 23 21 58,265 58,309 Total Loans $ 1,799 $ 9 $ 1,808 $ 9,266 $ 1,853,897 $ 1,864,971 December 31, 2022 Construction, land & land development $ — $ — $ — $ 149 $ 229,286 $ 229,435 Other commercial real estate 395 — 395 1,509 973,543 975,447 Total commercial real estate 395 — 395 1,658 1,202,829 1,204,882 Residential real estate 882 — 882 2,686 286,486 290,054 Commercial, financial & agricultural 476 — 476 1,341 222,106 223,923 Consumer and other 40 — 40 21 18,186 18,247 Total Loans $ 1,793 $ — $ 1,793 $ 5,706 $ 1,729,607 $ 1,737,106
Summary of Nonaccrual Loans	The following table is a summary of the Company's nonaccrual loans by major categories for the periods indicated. September 30, 2023 (dollars in thousands) Nonaccrual Loans with No Related ACL Nonaccrual Loans with a Related ACL Total Nonaccrual Loans Construction, land & land development $ 28 $ 64 $ 92 Other commercial real estate 784 805 1,589 Total commercial real estate 812 869 1,681 Residential real estate 328 2,961 3,289 Commercial, financial & agricultural 620 3,655 4,275 Consumer and other — 21 21 Total Loans $ 1,760 $ 7,506 $ 9,266
Summary of Impaired Loan Data	The following table details impaired loan data, including purchased credit impaired loans, as of December 31, 2022. December 31, 2022 (dollars in thousands) Unpaid Recorded Investment Related Average With No Related Allowance Recorded Construction, land & land development $ 40 $ 40 $ — $ 10 Other commercial real estate 3,754 3,754 — 5,311 Residential real estate 62 62 — 570 Commercial, financial & agricultural — — — 306 Consumer and other — — — 1 3,856 3,856 — 6,198 With An Allowance Recorded Construction, land & land development 474 474 44 177 Other commercial real estate — — — 503 Residential real estate — — — 588 Commercial, financial & agricultural — — — 369 Consumer and other — — — — 474 474 44 1,637 Purchased Credit Impaired Loans Construction, land & land development — — — — Other commercial real estate 798 798 33 760 Residential real estate — — — 13 Commercial, financial & agricultural — — — — Consumer and other — — — 65 798 798 33 838 Total Construction, land & land development 514 514 44 187 Other commercial real estate 4,552 4,552 33 6,574 Residential real estate 62 62 — 1,171 Commercial, financial & agricultural — — — 675 Consumer and other — — — 66 $ 5,128 $ 5,128 $ 77 $ 8,673
Summary of Loans Modified Due to Financial Difficulty	The following table presents loans modified due to a financial difficulty under the above terms during the three and nine months ended September 30, 2023. Loans modified due to financial difficulty (dollars in thousands) Term Extension Term Extension and Payment Delay Total* Residential real estate $ 13 $ — $ 13 Commercial, financial & agricultural — 10 10 Total Loans $ 13 $ 10 $ 23 *less than .01% of total class of receivable

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
Allowance for Credit Losses (Tables)	Sep. 30, 2023
Receivables [Abstract]
Summary of Allowance for Credit Losses	The following tables present the balance sheet activity in the ACL by portfolio segment for loans for the three and nine month periods ended September 30, 2023 and September 30, 2022 . CECL (dollars in thousands) Balance June 30, 2023 Charge-Offs Recoveries Provision for credit losses on loans Balance, September 30, 2023 Three Months Ended September 30, 2023 Construction, land & land development $ 2,281 $ — $ 1 $ (67) $ 2,215 Other commercial real estate 8,733 — 8 (21) 8,720 Total commercial real estate 11,014 — 9 (88) 10,935 Residential real estate 2,642 — 3 128 2,773 Commercial, financial & agricultural 2,984 (714) 13 737 3,020 Consumer and other 426 (14) 5 223 640 Total allowance for credit losses on loans $ 17,066 $ (728) $ 30 $ 1,000 $ 17,368 (dollars in thousands) Balance December 31, 2022 Adoption of ASU 2016-13 Charge-Offs Recoveries Provision for credit losses on loans Balance, September 30, 2023 Nine Months Ended September 30, 2023 Construction, land & land development $ 1,959 $ 148 $ — $ 9 $ 99 2,215 Other commercial real estate 8,886 (630) — 33 431 8,720 Total commercial real estate 10,845 (482) — 42 530 10,935 Residential real estate 2,354 1,053 — 40 (674) 2,773 Commercial, financial & agricultural 2,709 (690) (1,157) 180 1,978 3,020 Consumer and other 220 66 (17) 14 357 640 Total allowance for credit losses on loans $ 16,128 $ (53) $ (1,174) $ 276 $ 2,191 $ 17,368 Incurred Loss (dollars in thousands) Balance June 30, 2022 Charge-Offs Recoveries Provision Balance, September 30, 2022 Three Months Ended September 30, 2022 Construction, land & land development $ 1,052 $ — $ 5 $ 873 $ 1,930 Other commercial real estate 8,028 — 5 345 8,378 Total commercial real estate 9,080 — 10 1,218 10,308 Residential real estate 1,488 — 23 424 1,935 Commercial, financial & agricultural 1,678 (118) 7 1,163 2,730 Consumer and other 1,717 (33) 10 (1,485) 209 Total allowance for loan losses $ 13,963 $ (151) $ 50 $ 1,320 $ 15,182 (dollars in thousands) Balance December 31, 2021 Charge-Offs Recoveries Provision Balance, September 30, 2022 Nine Months Ended September 30, 2022 Construction, land & land development $ 1,127 $ — $ 16 $ 787 $ 1,930 Other commercial real estate 7,691 (58) 79 666 8,378 Total commercial real estate 8,818 (58) 95 1,453 10,308 Residential real estate 1,805 (48) 45 133 1,935 Commercial, financial & agricultural 1,083 (266) 63 1,850 2,730 Consumer and other 1,204 (54) 25 (966) 209 Total allowance for loan losses $ 12,910 $ (426) $ 228 $ 2,470 $ 15,182 The following table represents the recorded investment in loans by portfolio segment and the balance of the allowance assigned to each segment based on the incurred loss methodology of evaluating the loans for impairment as of December 31, 2022. (dollars in thousands) Construction, land & land development Other commercial real estate Residential real estate Commercial, financial & agricultural Consumer and other Total Year ended December 31, 2022 Period end amount allocated to Individually evaluated for impairment $ 44 $ — $ — $ — $ — $ 44 Collectively evaluated for impairment 1,915 8,853 2,354 2,709 220 16,051 Purchase credit impaired — 33 — — — 33 Ending Balance $ 1,959 $ 8,886 $ 2,354 $ 2,709 $ 220 $ 16,128 Loans Individually evaluated for impairment $ 514 $ 3,754 $ 62 $ — $ — $ 4,330 Collectively evaluated for impairment 228,921 970,895 289,992 223,923 18,247 1,731,978 Purchase credit impaired — 798 — — — 798 Ending Balance $ 229,435 $ 975,447 $ 290,054 $ 223,923 $ 18,247 $ 1,737,106 The following table presents the balance and activity in the allowance for credit losses for unfunded commitments for the three and nine months ended September 30, 2023. (dollars in thousands) Total Allowance for Credit Losses-Unfunded Commitments Three Months Ended Balance, June 30, 2023 $ 1,570 Change in unfunded commitments — Balance, September 30, 2023 $ 1,570 Nine Months Ended Balance, December 31, 2022 $ — Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 1,661 Change in unfunded commitments (91) Balance, September 30, 2023 $ 1,570

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
Derivatives (Tables)	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Gain (Loss) on Interest Rate Swaps	The following table presents the amounts recorded in the consolidated statements of income and the consolidated statements of comprehensive income relating to the interest rate swaps for the three and nine months ended September 30, 2023. (dollars in thousands) Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Amount of gain recognized in OCI $ 482 $ 681 Amount of gain reclassified from OCI to interest expense 164 173

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
Borrowings (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Summary of Other Borrowed Money	The following table presents information regarding the Company’s outstanding borrowings at September 30, 2023 and December 31, 2022: (dollars in thousands) September 30, 2023 December 31, 2022 Federal Home Loan Bank advances 185,000 125,000 Other borrowings 63,422 78,352 $ 248,422 $ 203,352
Schedule of Aggregate Stated Maturities	The aggregate stated maturities of other borrowed money at September 30, 2023 are as follows: (dollars in thousands) Year Amount 2023 $ 50,000 2024 30,000 2025 — 2026 25,000 2027 15,000 2028 and After 128,422 $ 248,422

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Earnings Per Share	The following table presents earnings per share for the three and nine months ended September 30, 2023 and 2022. (dollars in thousands, except per share data) Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator Net income available to common stockholders $ 5,804 $ 5,252 $ 16,149 $ 13,991 Denominator Weighted average number of common shares Outstanding for basic earnings per common share 17,569,493 17,645,119 17,581,817 17,042,838 Weighted-average number of shares outstanding for diluted earnings per common share 17,569,493 17,645,119 17,581,817 17,042,838 Earnings per share - basic $ 0.33 $ 0.30 $ 0.92 $ 0.82 Earnings per share - diluted $ 0.33 $ 0.30 $ 0.92 $ 0.82

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Financial Instruments Outstanding Whose Contract Amount Represents Credit Risk	At September 30, 2023 and December 31, 2022 the following financial instruments were outstanding whose contract amounts represent credit risk: Contract Amount (dollars in thousands) September 30, 2023 December 31, 2022 Loan commitments $ 402,949 $ 379,997 Letters of credit 5,656 3,333

Fair Value of Financial Instr_2

Fair Value of Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2023 and December 31, 2022 are as follows: Fair Value Measurements (dollars in thousands) Carrying Estimated Level Level Level September 30, 2023 Assets Cash and short-term investments $ 141,340 $ 141,340 $ 141,340 $ — $ — Investment securities available for sale 399,547 399,547 — 386,102 13,445 Investment securities held to maturity 451,056 385,065 — 385,065 — Other investments, at cost 17,323 17,323 — 17,323 — Loans held for sale 27,246 27,246 — 27,246 — Loans, net 1,847,603 1,638,269 — — 1,638,269 Derivative instruments 914 914 — 914 — Liabilities Deposits 2,591,332 2,582,790 — 2,582,790 — Federal Home Loan Bank advances 185,000 189,065 — 189,065 — Other borrowings 63,422 48,475 — 48,475 — Fair Value Measurements (dollars in thousands) Carrying Estimated Level Level Level December 31, 2022 Assets Cash and short-term investments $ 80,678 $ 80,678 $ 80,678 $ — $ — Investment securities available for sale 432,553 432,553 — 416,957 15,596 Investment securities held to maturity 465,858 411,264 — 411,264 — Other investments, at cost 13,793 13,793 — 13,003 790 Loans held for sale 17,743 17,743 — 17,743 — Loans, net 1,720,978 1,469,707 — — 1,469,707 Liabilities Deposits 2,490,997 2,489,481 — 2,489,481 — Federal Home Loan Bank advances 125,000 125,163 — 125,163 — Other borrowings 78,352 69,930 — 69,930 —
Fair Value Measurements, Recurring and Nonrecurring	The following tables present the recorded amount of the Company’s assets measured at fair value on a recurring and nonrecurring basis as of September 30, 2023 and December 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements fall. The tables below include only collateral dependent impaired loans with a specific reserve and only other real estate properties with a valuation allowance at September 30, 2023 and December 31, 2022. Those impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances. Fair Value Measurements at Reporting Date Using (dollars in thousands) Total Fair Value (Level 1) (Level 2) (Level 3) September 30, 2023 Nonrecurring Collateral dependent impaired loans $ 628 $ — $ — $ 628 Other real estate owned 812 — — 812 Total nonrecurring assets $ 1,440 $ — $ — $ 1,440 Fair Value Measurements at Reporting Date Using (dollars in thousands) Total Fair (Level 1) (Level 2) (Level 3) December 31, 2022 Nonrecurring Collateral dependent impaired loans $ 521 $ — $ — $ 521 Other real estate owned 651 — — 651 Total nonrecurring assets $ 1,172 $ — $ — $ 1,172
Fair Value Measurement Inputs and Valuation Techniques	The following table presents quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 of the fair value hierarchy measured on a nonrecurring basis at September 30, 2023 and December 31, 2022. This table is comprised primarily of collateral dependent impaired loans and other real estate owned: (dollars in thousands) September 30, 2023 Valuation Unobservable Range Collateral dependent impaired loans $ 628 Appraised Value Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell — % 50 % Other real estate owned 812 Appraised Value/Comparable Sales Discounts to reflect current market conditions and estimated costs to sell — % 20 % (dollars in thousands) December 31, 2022 Valuation Unobservable Range Collateral dependent impaired loans $ 521 Appraised Value Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 25 % 50 % Other real estate owned 651 Appraised Value/Comparable Sales Discounts to reflect current market conditions and estimated costs to sell — % 20 % The following table presents quantitative information about recurring level 3 fair value measurements as of September 30, 2023 and December 31, 2022. As of September 30, 2023 (dollars in thousands) Fair Value Valuation Unobservable Range Available for sale securities $ 13,445 Discounted Cash Flow Discount Rate or Yield N/A* Other investments — Discounted Cash Flow Discount Rate or Yield N/A* As of December 31, 2022 (dollars in thousands) Fair Value Valuation Unobservable Range Available for sale securities $ 15,596 Discounted Cash Flow Discount Rate or Yield N/A* Other investments 790 Discounted Cash Flow Discount Rate or Yield N/A* * The Company relies on a third-party pricing service to value its securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the three and nine months ended September 30, 2023. Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 (dollars in thousands) Available for sale securities Other Investments Available for sale securities Other Investments Balance, Beginning $ 13,805 $ — $ 15,596 $ 790 Redemptions/Payments (482) — (2,137) (800) Fair value adjustments 122 — (394) 10 Transfer to Level 3 — — 380 — Balance, Ending $ 13,445 $ — $ 13,445 $ —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following tables present information reported internally for performance assessment for the three and nine months ended September 30, 2023 and 2022: (dollars in thousands) Bank Mortgage Small Totals Nine Months Ended September 30, 2023 Net Interest Income $ 57,478 $ 86 $ 1,806 $ 59,370 Provision for Credit Losses 1,246 — 854 2,100 Noninterest Income 16,584 5,017 4,728 26,329 Noninterest Expenses 52,115 5,723 5,640 63,478 Income Taxes 4,089 (125) 8 3,972 Segment Profit $ 16,612 $ (495) $ 32 $ 16,149 Segments Assets at September 30, 2023 $ 2,999,071 $ 9,991 $ 84,761 $ 3,093,823 Full time employees at September 30, 2023 382 45 33 460 (dollars in thousands) Bank Mortgage Small Totals Nine Months Ended September 30, 2022 Net Interest Income $ 58,203 $ 145 $ 924 $ 59,272 Provision for Credit Losses 2,470 — — 2,470 Noninterest Income 13,723 7,993 5,621 27,337 Noninterest Expenses 54,742 7,799 5,107 67,648 Income Taxes 2,174 104 222 2,500 Segment Profit $ 12,540 $ 235 $ 1,216 $ 13,991 Segments Assets at December 31, 2022 $ 2,857,893 $ 18,221 $ 60,456 $ 2,936,570 Full time employees at September 30, 2022 396 61 29 486 (dollars in thousands) Bank Mortgage Small Totals Three Months Ended September 30, 2023 Net Interest Income $ 18,778 $ 52 $ 791 $ 19,621 Provision for Credit Losses 286 — 714 1,000 Noninterest Income 6,233 1,725 1,760 9,718 Noninterest Expenses 16,653 2,040 2,188 20,881 Income Taxes 1,777 (53) (70) 1,654 Segment Profit $ 6,295 $ (210) $ (281) $ 5,804 (dollars in thousands) Bank Mortgage Small Totals Three Months Ended September 30, 2022 Net Interest Income $ 20,541 $ 17 $ 340 $ 20,898 Provision for Credit Losses 1,320 — — 1,320 Noninterest Income 4,255 2,345 1,546 8,146 Noninterest Expenses 17,537 2,289 1,541 21,367 Income Taxes 1,047 10 48 1,105 Segment Profit $ 4,892 $ 63 $ 297 $ 5,252

Regulatory Capital Matters (Tab

Regulatory Capital Matters (Tables)	9 Months Ended
Regulatory Capital Matters (Tables)	Sep. 30, 2023
Banking And Thrift Disclosure [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	The following tables summarize regulatory capital information as of September 30, 2023 and December 31, 2022 on a consolidated basis and for the subsidiary, as defined. Regulatory capital ratios for September 30, 2023 and December 31, 2022 were calculated in accordance with the Basel III rules. (dollars in thousands) Actual For Capital To Be Well Amount Ratio Amount Ratio Amount Ratio As of September 30, 2023 Total Capital to Risk-Weighted Assets Consolidated $ 331,389 15.11 % $ 175,454 8.00 % $ 219,318 10.00 % Colony Bank 293,184 13.43 174,644 8.00 218,305 10.00 Tier 1 Capital to Risk-Weighted Assets Consolidated 273,258 12.46 131,585 6.00 175,447 8.00 Colony Bank 274,246 12.56 131,009 6.00 174,679 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 249,029 11.36 98,647 4.50 142,490 6.50 Colony Bank 274,246 12.56 98,257 4.50 141,927 6.50 Tier 1 Capital to Average Assets Consolidated 273,258 8.93 122,400 4.00 153,000 5.00 Colony Bank 274,246 8.99 122,023 4.00 152,528 5.00 (dollars in thousands) Actual For Capital To Be Well Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022 Total Capital to Risk-Weighted Assets Consolidated $ 318,250 15.11 % $ 168,498 8.00 % N/A N/A Colony Bank 272,812 12.99 168,014 8.00 $ 210,017 10.00 % Tier 1 Capital to Risk-Weighted Assets Consolidated 262,999 12.49 126,341 6.00 N/A N/A Colony Bank 256,684 12.22 126,031 6.00 168,042 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 238,770 11.34 94,750 4.50 N/A N/A Colony Bank 256,684 12.22 94,524 4.50 136,534 6.50 Tier 1 Capital to Average Assets Consolidated 262,999 9.17 114,721 4.00 N/A N/A Colony Bank 256,684 8.97 114,463 4.00 143,079 5.00

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2023 USD ($) loan	Jun. 30, 2023 USD ($)	Jan. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of loan portfolio concentrated in loans secured by real estate		83%
Retained earnings, decrease		$ (238,692)	$ (239,455)		$ (230,268)	$ (226,067)	$ (234,595)	$ (217,707)
Number of TDR loans \| loan		2
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings, decrease		$ (120,732)	$ (116,857)		(111,573)	$ (107,918)	$ (104,561)	$ (99,189)
Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings, decrease	[1]				$ 1,198
Revision of Prior Period, Accounting Standards Update, Adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings, decrease				$ 1,200

[1] (1) Represents the impact of the adoption of Accounting Standards Update ("ASU") No. 2016-13: CECL

Investment Securities - Schedul

Investment Securities - Schedule of Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 01, 2022
Securities Available for Sale:
Amortized Cost	$ 463,896	$ 490,206
Gross Unrealized Gains	6	173
Gross Unrealized Losses	(64,355)	(57,826)
Fair Value	399,547	432,553
Securities Held to Maturity:
Amortized Cost	451,056	465,858
Gross Unrealized Gains	0	32
Gross Unrealized Losses	(65,991)	(54,626)
Fair Value	385,065	411,264	$ 477,000
U.S. treasury securities
Securities Available for Sale:
Amortized Cost	799	1,644
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(8)	(22)
Fair Value	791	1,622
Securities Held to Maturity:
Amortized Cost	92,880	91,615
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(5,483)	(4,149)
Fair Value	87,397	87,466
U.S. agency securities
Securities Available for Sale:
Amortized Cost	4,613	5,035
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(510)	(450)
Fair Value	4,103	4,585
Securities Held to Maturity:
Amortized Cost	16,314	16,409
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1,975)	(1,838)
Fair Value	14,339	14,571
Asset backed securities
Securities Available for Sale:
Amortized Cost	27,250	31,468
Gross Unrealized Gains	6	0
Gross Unrealized Losses	(411)	(1,480)
Fair Value	26,845	29,988
State, county & municipal securities
Securities Available for Sale:
Amortized Cost	124,882	126,119
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(23,228)	(21,363)
Fair Value	101,654	104,756
Securities Held to Maturity:
Amortized Cost	136,546	136,138
Gross Unrealized Gains	0	32
Gross Unrealized Losses	(22,986)	(19,518)
Fair Value	113,560	116,652
Corporate debt securities
Securities Available for Sale:
Amortized Cost	54,694	54,741
Gross Unrealized Gains	0	164
Gross Unrealized Losses	(7,665)	(5,320)
Fair Value	47,029	49,585
Mortgage-backed securities
Securities Available for Sale:
Amortized Cost	251,658	271,199
Gross Unrealized Gains	0	9
Gross Unrealized Losses	(32,533)	(29,191)
Fair Value	219,125	242,017
Securities Held to Maturity:
Amortized Cost	205,316	221,696
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(35,547)	(29,121)
Fair Value	$ 169,769	$ 192,575

Investment Securities - Narrati

Investment Securities - Narrative (Details)	3 Months Ended		8 Months Ended	9 Months Ended
Investment Securities - Narrative (Details)	Sep. 30, 2023 USD ($) security	Sep. 30, 2022 USD ($)	Sep. 01, 2022 USD ($)	Sep. 30, 2023 USD ($) security	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, accrued interest receivable	$ 2,200,000			$ 2,200,000			$ 2,600,000
Held-to-maturity securities, accrued interest receivable	2,000,000			2,000,000			1,900,000
Held-to-maturity, book value			$ 511,000,000
Fair Value	385,065,000		477,000,000	385,065,000			411,264,000
Available-for-sale to held-to-maturity, transfer unrealized loss			$ 34,000,000
Proceeds from sales of investment securities, available-for-sale		$ 44,100,000		0	$ 47,175,000
Gross realized gains on securities		0			24,000
Gross realized losses on securities	$ 96,000			$ 96,000
Number of available for sale securities that have unrealized losses \| security	282			282
Number of held to maturity securities that have unrealized losses \| security	159			159
Allowance for credit loss	$ 17,368,000	$ 15,182,000		$ 17,368,000	$ 15,182,000	$ 17,066,000	16,128,000	$ 13,963,000	$ 12,910,000
Investment Securities
Debt Securities, Available-for-sale [Line Items]
Allowance for credit loss	0			0
Asset Pledged as Collateral
Debt Securities, Available-for-sale [Line Items]
Investment securities pledged as collateral	$ 394,000,000			$ 394,000,000			$ 541,800,000

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 01, 2022
Amortized Cost
Due in one year or less	$ 1,014
Due after one year through five years	15,542
Due after five years through ten years	95,886
Due after ten years	99,796
Total amortized cost	212,238
Mortgage-backed securities	251,658
Amortized Cost	463,896	$ 490,206
Fair Value
Due in one year or less	1,002
Due after one year through five years	14,127
Due after five years through ten years	79,640
Due after ten years	85,653
Total fair value	180,422
Mortgage-backed securities	219,125
Fair value	399,547	432,553
Amortized Cost
Due in one year or less	0
Due after one year through five years	91,725
Due after five years through ten years	75,296
Due after ten years	78,719
Total amortized cost	245,740
Mortgage-backed securities	205,316
Amortized Cost	451,056	465,858
Fair Value
Due in one year or less	0
Due after one year through five years	86,380
Due after five years through ten years	64,377
Due after ten years	64,539
Total fair value	215,296
Mortgage-backed securities	169,769
Fair value	$ 385,065	$ 411,264	$ 477,000

Investment Securities - Availab

Investment Securities - Available for Sale Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value
Less Than 12 Months	$ 31,139	$ 183,951
12 Months or Greater	366,095	246,349
Total	397,234	430,300
Gross Unrealized Losses
Less Than 12 Months	(2,346)	(13,575)
12 Months or Greater	(62,009)	(44,251)
Total	(64,355)	(57,826)
U.S. treasury securities
Fair Value
Less Than 12 Months	0	1,377
12 Months or Greater	791	245
Total	791	1,622
Gross Unrealized Losses
Less Than 12 Months	0	(17)
12 Months or Greater	(8)	(5)
Total	(8)	(22)
U.S. agency securities
Fair Value
Less Than 12 Months	0	3,221
12 Months or Greater	4,103	1,364
Total	4,103	4,585
Gross Unrealized Losses
Less Than 12 Months	0	(257)
12 Months or Greater	(510)	(193)
Total	(510)	(450)
Asset backed securities
Fair Value
Less Than 12 Months	5,934	10,780
12 Months or Greater	18,598	19,208
Total	24,532	29,988
Gross Unrealized Losses
Less Than 12 Months	(14)	(319)
12 Months or Greater	(397)	(1,161)
Total	(411)	(1,480)
State, county & municipal securities
Fair Value
Less Than 12 Months	1,457	29,284
12 Months or Greater	100,197	75,472
Total	101,654	104,756
Gross Unrealized Losses
Less Than 12 Months	(276)	(3,629)
12 Months or Greater	(22,952)	(17,734)
Total	(23,228)	(21,363)
Corporate debt securities
Fair Value
Less Than 12 Months	7,660	17,258
12 Months or Greater	39,369	30,651
Total	47,029	47,909
Gross Unrealized Losses
Less Than 12 Months	(1,632)	(1,463)
12 Months or Greater	(6,033)	(3,857)
Total	(7,665)	(5,320)
Mortgage-backed securities
Fair Value
Less Than 12 Months	16,088	122,031
12 Months or Greater	203,037	119,409
Total	219,125	241,440
Gross Unrealized Losses
Less Than 12 Months	(424)	(7,890)
12 Months or Greater	(32,109)	(21,301)
Total	$ (32,533)	$ (29,191)

Investment Securities - Held to

Investment Securities - Held to Maturity Continuous Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value
Less Than 12 Months	$ 18,041	$ 23,438
12 Months or Greater	367,024	386,766
Total	385,065	410,204
Gross Unrealized Losses
Less Than 12 Months	(1,349)	(2,121)
12 Months or Greater	(64,642)	(52,505)
Total	(65,991)	(54,626)
U.S. treasury securities
Fair Value
Less Than 12 Months	0	0
12 Months or Greater	87,397	87,466
Total	87,397	87,466
Gross Unrealized Losses
Less Than 12 Months	0	0
12 Months or Greater	(5,483)	(4,149)
Total	(5,483)	(4,149)
U.S. agency securities
Fair Value
Less Than 12 Months	0	0
12 Months or Greater	14,339	14,571
Total	14,339	14,571
Gross Unrealized Losses
Less Than 12 Months	0	0
12 Months or Greater	(1,975)	(1,838)
Total	(1,975)	(1,838)
State, county & municipal securities
Fair Value
Less Than 12 Months	18,041	9,858
12 Months or Greater	95,519	105,734
Total	113,560	115,592
Gross Unrealized Losses
Less Than 12 Months	(1,349)	(1,392)
12 Months or Greater	(21,637)	(18,126)
Total	(22,986)	(19,518)
Mortgage-backed securities
Fair Value
Less Than 12 Months	0	13,580
12 Months or Greater	169,769	178,995
Total	169,769	192,575
Gross Unrealized Losses
Less Than 12 Months	0	(729)
12 Months or Greater	(35,547)	(28,392)
Total	$ (35,547)	$ (29,121)

Loans - Loans Segregated by Cla

Loans - Loans Segregated by Class (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
Loans	$ 1,864,971	$ 1,737,106
Loans Insured or Guaranteed by US Government Authorities
Loans and Leases Receivable Disclosure [Line Items]
Loans	82,383	58,353
Construction, land & land development
Loans and Leases Receivable Disclosure [Line Items]
Loans		229,435
Other commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans		975,447
Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans	1,214,436	1,204,882
Commercial real estate \| Loans Insured or Guaranteed by US Government Authorities
Loans and Leases Receivable Disclosure [Line Items]
Loans	42,981	38,530
Commercial real estate \| Construction, land & land development
Loans and Leases Receivable Disclosure [Line Items]
Loans	245,268	229,435
Commercial real estate \| Construction, land & land development \| Loans Insured or Guaranteed by US Government Authorities
Loans and Leases Receivable Disclosure [Line Items]
Loans	7,665	5,888
Commercial real estate \| Other commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans	969,168	975,447
Commercial real estate \| Other commercial real estate \| Loans Insured or Guaranteed by US Government Authorities
Loans and Leases Receivable Disclosure [Line Items]
Loans	35,316	32,642
Residential real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans	339,501	290,054
Residential real estate \| Loans Insured or Guaranteed by US Government Authorities
Loans and Leases Receivable Disclosure [Line Items]
Loans	11,757	8,036
Commercial, financial & agricultural
Loans and Leases Receivable Disclosure [Line Items]
Loans	252,725	223,923
Commercial, financial & agricultural \| Loans Insured or Guaranteed by US Government Authorities
Loans and Leases Receivable Disclosure [Line Items]
Loans	27,645	11,787
Consumer and other
Loans and Leases Receivable Disclosure [Line Items]
Loans	58,309	18,247
Consumer and other \| Loans Insured or Guaranteed by US Government Authorities
Loans and Leases Receivable Disclosure [Line Items]
Loans	$ 0	$ 0

Loans - Narrative (Details)

Loans - Narrative (Details)	3 Months Ended		9 Months Ended
Loans - Narrative (Details)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($) loan	Sep. 30, 2023 USD ($) modified_loan	Sep. 30, 2022 USD ($) loan	Dec. 31, 2022 USD ($)
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Loans	$ 1,864,971,000		$ 1,864,971,000		$ 1,737,106,000
Accrued interest receivable for loans	8,500,000		8,500,000		6,800,000
Interest income	55,000	$ 165,000	265,000	$ 380,000
Unfunded commitments to lend	0		0		0
Number of loans that subsequently defaulted \| loan		0		0
Residential real estate
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Loans	339,501,000		$ 339,501,000		290,054,000
Residential real estate \| Term Extension
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Number of modified loans \| modified_loan			1
Term extension from modification			2 years
Commercial, financial & agricultural
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Loans	252,725,000		$ 252,725,000		223,923,000
Commercial, financial & agricultural \| Term Extension and Payment Delay
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Number of modified loans \| modified_loan			1
Term extension from modification			2 years
Loans Insured or Guaranteed by US Government Authorities
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Loans	82,383,000		$ 82,383,000		58,353,000
Loans Insured or Guaranteed by US Government Authorities \| Residential real estate
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Loans	11,757,000		11,757,000		8,036,000
Loans Insured or Guaranteed by US Government Authorities \| Commercial, financial & agricultural
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Loans	$ 27,645,000		$ 27,645,000		$ 11,787,000

Loans - Loan Portfolio by Credi

Loans - Loan Portfolio by Credit Quality Indicators (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
2023	$ 308,855
2023, current period gross write-offs	0
2022	636,381
2022, current period gross write-offs	705
2021	322,316
2021, current period gross write-offs	404
2020	142,313
2020, current period gross write-offs	4
2019	106,147
2019, current period gross write-offs	0
Prior	239,726
Prior, current period gross write-offs	61
Revolvers	107,780
Revolvers, current period gross write-offs	0
Revolvers converted to term loans	1,453
Revolvers converted to term loans, current period gross write-offs	0
Loans	1,864,971	$ 1,737,106
Loans, current period gross write-offs	1,174
Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans	1,864,971	1,737,106
Construction, land & land development
Loans and Leases Receivable Disclosure [Line Items]
Loans		229,435
Other commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans		975,447
Commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans	1,214,436	1,204,882
Commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans	1,214,436	1,204,882
Commercial real estate \| Construction, land & land development
Loans and Leases Receivable Disclosure [Line Items]
2023	93,480
2023, current period gross write-offs	0
2022	106,344
2022, current period gross write-offs	0
2021	27,759
2021, current period gross write-offs	0
2020	7,808
2020, current period gross write-offs	0
2019	1,052
2019, current period gross write-offs	0
Prior	6,134
Prior, current period gross write-offs	0
Revolvers	2,660
Revolvers, current period gross write-offs	0
Revolvers converted to term loans	31
Revolvers converted to term loans, current period gross write-offs	0
Loans	245,268	229,435
Loans, current period gross write-offs	0
Commercial real estate \| Construction, land & land development \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans	245,268	229,435
Commercial real estate \| Other commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	40,254
2023, current period gross write-offs	0
2022	346,079
2022, current period gross write-offs	0
2021	209,150
2021, current period gross write-offs	0
2020	94,821
2020, current period gross write-offs	0
2019	88,633
2019, current period gross write-offs	0
Prior	163,256
Prior, current period gross write-offs	0
Revolvers	25,896
Revolvers, current period gross write-offs	0
Revolvers converted to term loans	1,079
Revolvers converted to term loans, current period gross write-offs	0
Loans	969,168	975,447
Loans, current period gross write-offs	0
Commercial real estate \| Other commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans	969,168	975,447
Residential real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	56,417
2023, current period gross write-offs	0
2022	121,375
2022, current period gross write-offs	0
2021	53,033
2021, current period gross write-offs	0
2020	23,355
2020, current period gross write-offs	0
2019	9,940
2019, current period gross write-offs	0
Prior	54,464
Prior, current period gross write-offs	0
Revolvers	20,917
Revolvers, current period gross write-offs	0
Revolvers converted to term loans	0
Revolvers converted to term loans, current period gross write-offs	0
Loans	339,501	290,054
Loans, current period gross write-offs	0
Residential real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans	339,501	290,054
Commercial, financial & agricultural
Loans and Leases Receivable Disclosure [Line Items]
2023	71,488
2023, current period gross write-offs	0
2022	57,934
2022, current period gross write-offs	692
2021	29,946
2021, current period gross write-offs	404
2020	14,827
2020, current period gross write-offs	0
2019	5,470
2019, current period gross write-offs	0
Prior	14,854
Prior, current period gross write-offs	61
Revolvers	57,863
Revolvers, current period gross write-offs	0
Revolvers converted to term loans	343
Revolvers converted to term loans, current period gross write-offs	0
Loans	252,725	223,923
Loans, current period gross write-offs	1,157
Commercial, financial & agricultural \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans	252,725	223,923
Consumer and other
Loans and Leases Receivable Disclosure [Line Items]
2023	47,216
2023, current period gross write-offs	0
2022	4,649
2022, current period gross write-offs	12
2021	2,426
2021, current period gross write-offs	1
2020	1,504
2020, current period gross write-offs	4
2019	1,053
2019, current period gross write-offs	0
Prior	1,016
Prior, current period gross write-offs	0
Revolvers	445
Revolvers, current period gross write-offs	0
Revolvers converted to term loans	0
Revolvers converted to term loans, current period gross write-offs	0
Loans	58,309	18,247
Loans, current period gross write-offs	17
Consumer and other \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans	58,309	18,247
Pass
Loans and Leases Receivable Disclosure [Line Items]
2023	299,527
2022	627,968
2021	316,516
2020	139,324
2019	100,653
Prior	222,484
Revolvers	106,330
Revolvers converted to term loans	1,428
Loans	1,814,230
Pass \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		1,696,615
Pass \| Commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		1,179,620
Pass \| Commercial real estate \| Construction, land & land development
Loans and Leases Receivable Disclosure [Line Items]
2023	93,480
2022	105,461
2021	27,729
2020	7,808
2019	1,031
Prior	5,955
Revolvers	2,535
Revolvers converted to term loans	31
Loans	244,030
Pass \| Commercial real estate \| Construction, land & land development \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		228,494
Pass \| Commercial real estate \| Other commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	40,254
2022	340,854
2021	208,444
2020	92,693
2019	84,083
Prior	155,802
Revolvers	25,603
Revolvers converted to term loans	1,079
Loans	948,812
Pass \| Commercial real estate \| Other commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		951,126
Pass \| Residential real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	55,868
2022	119,728
2021	52,516
2020	23,033
2019	9,108
Prior	45,226
Revolvers	20,809
Revolvers converted to term loans	0
Loans	326,288
Pass \| Residential real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		277,930
Pass \| Commercial, financial & agricultural
Loans and Leases Receivable Disclosure [Line Items]
2023	62,802
2022	57,302
2021	25,445
2020	14,308
2019	5,415
Prior	14,495
Revolvers	56,939
Revolvers converted to term loans	318
Loans	237,024
Pass \| Commercial, financial & agricultural \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		220,908
Pass \| Consumer and other
Loans and Leases Receivable Disclosure [Line Items]
2023	47,123
2022	4,622
2021	2,381
2020	1,483
2019	1,017
Prior	1,004
Revolvers	445
Revolvers converted to term loans	0
Loans	58,075
Pass \| Consumer and other \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		18,157
Special Mention
Loans and Leases Receivable Disclosure [Line Items]
2023	8,844
2022	2,158
2021	1,108
2020	2,583
2019	5,161
Prior	9,224
Revolvers	959
Revolvers converted to term loans	0
Loans	30,037
Special Mention \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		25,365
Special Mention \| Commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		17,852
Special Mention \| Commercial real estate \| Construction, land & land development
Loans and Leases Receivable Disclosure [Line Items]
2023	0
2022	0
2021	25
2020	0
2019	0
Prior	33
Revolvers	0
Revolvers converted to term loans	0
Loans	58
Special Mention \| Commercial real estate \| Construction, land & land development \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		290
Special Mention \| Commercial real estate \| Other commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	0
2022	802
2021	419
2020	2,128
2019	4,550
Prior	4,696
Revolvers	35
Revolvers converted to term loans	0
Loans	12,630
Special Mention \| Commercial real estate \| Other commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		17,562
Special Mention \| Residential real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	296
2022	809
2021	309
2020	51
2019	555
Prior	4,461
Revolvers	98
Revolvers converted to term loans	0
Loans	6,579
Special Mention \| Residential real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		6,574
Special Mention \| Commercial, financial & agricultural
Loans and Leases Receivable Disclosure [Line Items]
2023	8,471
2022	544
2021	311
2020	390
2019	25
Prior	33
Revolvers	826
Revolvers converted to term loans	0
Loans	10,600
Special Mention \| Commercial, financial & agricultural \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		885
Special Mention \| Consumer and other
Loans and Leases Receivable Disclosure [Line Items]
2023	77
2022	4
2021	43
2020	14
2019	31
Prior	2
Revolvers	0
Revolvers converted to term loans	0
Loans	171
Special Mention \| Consumer and other \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		54
Substandard
Loans and Leases Receivable Disclosure [Line Items]
2023	484
2022	6,255
2021	4,692
2020	406
2019	333
Prior	8,018
Revolvers	491
Revolvers converted to term loans	25
Loans	20,704
Substandard \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		15,126
Substandard \| Commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		7,410
Substandard \| Commercial real estate \| Construction, land & land development
Loans and Leases Receivable Disclosure [Line Items]
2023	0
2022	883
2021	5
2020	0
2019	21
Prior	146
Revolvers	125
Revolvers converted to term loans	0
Loans	1,180
Substandard \| Commercial real estate \| Construction, land & land development \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		651
Substandard \| Commercial real estate \| Other commercial real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	0
2022	4,423
2021	287
2020	0
2019	0
Prior	2,758
Revolvers	258
Revolvers converted to term loans	0
Loans	7,726
Substandard \| Commercial real estate \| Other commercial real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		6,759
Substandard \| Residential real estate
Loans and Leases Receivable Disclosure [Line Items]
2023	253
2022	838
2021	208
2020	271
2019	277
Prior	4,777
Revolvers	10
Revolvers converted to term loans	0
Loans	6,634
Substandard \| Residential real estate \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		5,550
Substandard \| Commercial, financial & agricultural
Loans and Leases Receivable Disclosure [Line Items]
2023	215
2022	88
2021	4,190
2020	129
2019	30
Prior	326
Revolvers	98
Revolvers converted to term loans	25
Loans	5,101
Substandard \| Commercial, financial & agricultural \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		2,130
Substandard \| Consumer and other
Loans and Leases Receivable Disclosure [Line Items]
2023	16
2022	23
2021	2
2020	7
2019	5
Prior	10
Revolvers	0
Revolvers converted to term loans	0
Loans	$ 63
Substandard \| Consumer and other \| Legacy Loans
Loans and Leases Receivable Disclosure [Line Items]
Loans		$ 36

Loans - Age Analysis of Past Du

Loans - Age Analysis of Past Due Loans and Nonaccrual Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans	$ 1,864,971	$ 1,737,106
Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,864,971	1,737,106
Nonaccrual Loans	9,266	5,706
30-89 Days Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,799	1,793
90 Days or More Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	9	0
Total Accruing Loans Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,808	1,793
Current Loans \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,853,897	1,729,607
Construction, land & land development
Financing Receivable, Past Due [Line Items]
Loans		229,435
Other commercial real estate
Financing Receivable, Past Due [Line Items]
Loans		975,447
Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	1,214,436	1,204,882
Commercial real estate \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,214,436	1,204,882
Nonaccrual Loans	1,681	1,658
Commercial real estate \| 30-89 Days Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	469	395
Commercial real estate \| 90 Days or More Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	0	0
Commercial real estate \| Total Accruing Loans Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	469	395
Commercial real estate \| Current Loans \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,212,286	1,202,829
Commercial real estate \| Construction, land & land development
Financing Receivable, Past Due [Line Items]
Loans	245,268	229,435
Commercial real estate \| Construction, land & land development \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	245,268	229,435
Nonaccrual Loans	92	149
Commercial real estate \| Construction, land & land development \| 30-89 Days Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	0	0
Commercial real estate \| Construction, land & land development \| 90 Days or More Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	0	0
Commercial real estate \| Construction, land & land development \| Total Accruing Loans Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	0	0
Commercial real estate \| Construction, land & land development \| Current Loans \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	245,176	229,286
Commercial real estate \| Other commercial real estate
Financing Receivable, Past Due [Line Items]
Loans	969,168	975,447
Commercial real estate \| Other commercial real estate \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	969,168	975,447
Nonaccrual Loans	1,589	1,509
Commercial real estate \| Other commercial real estate \| 30-89 Days Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	469	395
Commercial real estate \| Other commercial real estate \| 90 Days or More Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	0	0
Commercial real estate \| Other commercial real estate \| Total Accruing Loans Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	469	395
Commercial real estate \| Other commercial real estate \| Current Loans \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	967,110	973,543
Residential real estate
Financing Receivable, Past Due [Line Items]
Loans	339,501	290,054
Residential real estate \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	339,501	290,054
Nonaccrual Loans	3,289	2,686
Residential real estate \| 30-89 Days Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,185	882
Residential real estate \| 90 Days or More Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	0	0
Residential real estate \| Total Accruing Loans Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	1,185	882
Residential real estate \| Current Loans \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	335,027	286,486
Commercial, financial & agricultural
Financing Receivable, Past Due [Line Items]
Loans	252,725	223,923
Commercial, financial & agricultural \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	252,725	223,923
Nonaccrual Loans	4,275	1,341
Commercial, financial & agricultural \| 30-89 Days Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	131	476
Commercial, financial & agricultural \| 90 Days or More Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	0	0
Commercial, financial & agricultural \| Total Accruing Loans Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	131	476
Commercial, financial & agricultural \| Current Loans \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	248,319	222,106
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans	58,309	18,247
Consumer and other \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	58,309	18,247
Nonaccrual Loans	21	21
Consumer and other \| 30-89 Days Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	14	40
Consumer and other \| 90 Days or More Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	9	0
Consumer and other \| Total Accruing Loans Past Due \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	23	40
Consumer and other \| Current Loans \| Legacy Loans
Financing Receivable, Past Due [Line Items]
Loans	$ 58,265	$ 18,186

Loans - Nonaccrual Loans (Detai

Loans - Nonaccrual Loans (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Nonaccrual Loans with No Related ACL	$ 1,760
Nonaccrual Loans with a Related ACL	7,506
Total Nonaccrual Loans	9,266
Commercial real estate
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Nonaccrual Loans with No Related ACL	812
Nonaccrual Loans with a Related ACL	869
Total Nonaccrual Loans	1,681
Commercial real estate \| Construction, land & land development
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Nonaccrual Loans with No Related ACL	28
Nonaccrual Loans with a Related ACL	64
Total Nonaccrual Loans	92
Commercial real estate \| Other commercial real estate
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Nonaccrual Loans with No Related ACL	784
Nonaccrual Loans with a Related ACL	805
Total Nonaccrual Loans	1,589
Residential real estate
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Nonaccrual Loans with No Related ACL	328
Nonaccrual Loans with a Related ACL	2,961
Total Nonaccrual Loans	3,289
Commercial, financial & agricultural
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Nonaccrual Loans with No Related ACL	620
Nonaccrual Loans with a Related ACL	3,655
Total Nonaccrual Loans	4,275
Consumer and other
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Nonaccrual Loans with No Related ACL	0
Nonaccrual Loans with a Related ACL	21
Total Nonaccrual Loans	$ 21

Loans - Impaired Loan Data (Det

Loans - Impaired Loan Data (Details) $ in Thousands	12 Months Ended
Loans - Impaired Loan Data (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Unpaid Contractual Principal Balance
With No Related Allowance Recorded	$ 3,856
With An Allowance Recorded	474
Loans Including Purchased Credit Impaired Loans	5,128
Recorded Investment
With No Related Allowance Recorded	3,856
With An Allowance Recorded	474
Loans Including Purchased Credit Impaired Loans	5,128
Related Allowance
With An Allowance Recorded	44
Total Impaired Loans	77
Average Recorded Investment
With No Related Allowance Recorded	6,198
With An Allowance Recorded	1,637
Loans Including Purchased Credit Impaired Loans	8,673
Purchased Credit Impaired Loans
Unpaid Contractual Principal Balance
Loans Including Purchased Credit Impaired Loans	798
Recorded Investment
Loans Including Purchased Credit Impaired Loans	798
Related Allowance
With An Allowance Recorded	33
Purchased Credit Impaired Loans	33
Average Recorded Investment
Loans Including Purchased Credit Impaired Loans	838
Residential real estate
Unpaid Contractual Principal Balance
With No Related Allowance Recorded	62
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	62
Recorded Investment
With No Related Allowance Recorded	62
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	62
Related Allowance
With An Allowance Recorded	0
Total Impaired Loans	0
Average Recorded Investment
With No Related Allowance Recorded	570
With An Allowance Recorded	588
Loans Including Purchased Credit Impaired Loans	1,171
Residential real estate \| Purchased Credit Impaired Loans
Unpaid Contractual Principal Balance
Loans Including Purchased Credit Impaired Loans	0
Recorded Investment
Loans Including Purchased Credit Impaired Loans	0
Related Allowance
With An Allowance Recorded	0
Purchased Credit Impaired Loans	0
Average Recorded Investment
Loans Including Purchased Credit Impaired Loans	13
Commercial, financial & agricultural
Unpaid Contractual Principal Balance
With No Related Allowance Recorded	0
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	0
Recorded Investment
With No Related Allowance Recorded	0
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	0
Related Allowance
With An Allowance Recorded	0
Total Impaired Loans	0
Average Recorded Investment
With No Related Allowance Recorded	306
With An Allowance Recorded	369
Loans Including Purchased Credit Impaired Loans	675
Commercial, financial & agricultural \| Purchased Credit Impaired Loans
Unpaid Contractual Principal Balance
Loans Including Purchased Credit Impaired Loans	0
Recorded Investment
Loans Including Purchased Credit Impaired Loans	0
Related Allowance
With An Allowance Recorded	0
Purchased Credit Impaired Loans	0
Average Recorded Investment
Loans Including Purchased Credit Impaired Loans	0
Consumer and other
Unpaid Contractual Principal Balance
With No Related Allowance Recorded	0
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	0
Recorded Investment
With No Related Allowance Recorded	0
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	0
Related Allowance
With An Allowance Recorded	0
Total Impaired Loans	0
Average Recorded Investment
With No Related Allowance Recorded	1
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	66
Consumer and other \| Purchased Credit Impaired Loans
Unpaid Contractual Principal Balance
Loans Including Purchased Credit Impaired Loans	0
Recorded Investment
Loans Including Purchased Credit Impaired Loans	0
Related Allowance
With An Allowance Recorded	0
Purchased Credit Impaired Loans	0
Average Recorded Investment
Loans Including Purchased Credit Impaired Loans	65
Construction, land & land development
Unpaid Contractual Principal Balance
With No Related Allowance Recorded	40
With An Allowance Recorded	474
Loans Including Purchased Credit Impaired Loans	514
Recorded Investment
With No Related Allowance Recorded	40
With An Allowance Recorded	474
Loans Including Purchased Credit Impaired Loans	514
Related Allowance
With An Allowance Recorded	44
Total Impaired Loans	44
Average Recorded Investment
With No Related Allowance Recorded	10
With An Allowance Recorded	177
Loans Including Purchased Credit Impaired Loans	187
Construction, land & land development \| Purchased Credit Impaired Loans
Unpaid Contractual Principal Balance
Loans Including Purchased Credit Impaired Loans	0
Recorded Investment
Loans Including Purchased Credit Impaired Loans	0
Related Allowance
With An Allowance Recorded	0
Purchased Credit Impaired Loans	0
Average Recorded Investment
Loans Including Purchased Credit Impaired Loans	0
Other commercial real estate
Unpaid Contractual Principal Balance
With No Related Allowance Recorded	3,754
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	4,552
Recorded Investment
With No Related Allowance Recorded	3,754
With An Allowance Recorded	0
Loans Including Purchased Credit Impaired Loans	4,552
Related Allowance
With An Allowance Recorded	0
Total Impaired Loans	33
Average Recorded Investment
With No Related Allowance Recorded	5,311
With An Allowance Recorded	503
Loans Including Purchased Credit Impaired Loans	6,574
Other commercial real estate \| Purchased Credit Impaired Loans
Unpaid Contractual Principal Balance
Loans Including Purchased Credit Impaired Loans	798
Recorded Investment
Loans Including Purchased Credit Impaired Loans	798
Related Allowance
With An Allowance Recorded	33
Purchased Credit Impaired Loans	33
Average Recorded Investment
Loans Including Purchased Credit Impaired Loans	$ 760

Loans - Summary of Loans Modifi

Loans - Summary of Loans Modified Due to Financial Difficulty (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	$ 23	$ 23
Term Extension
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	13	13
Term Extension and Payment Delay
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	10	10
Residential real estate
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	13	13
Residential real estate \| Term Extension
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	13	13
Residential real estate \| Term Extension and Payment Delay
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	0	0
Commercial, financial & agricultural
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	10	10
Commercial, financial & agricultural \| Term Extension
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	0	0
Commercial, financial & agricultural \| Term Extension and Payment Delay
Financing Receivable, Modified [Line Items]
Loans modified due to financial difficulty	$ 10	$ 10

Allowance for Credit Losses - S

Allowance for Credit Losses - Segregated by Class of Loan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 17,066	$ 13,963	$ 16,128	$ 12,910
Charge-Offs	(728)	(151)	(1,174)	(426)
Recoveries	30	50	276	228
Provision for credit losses on loans	1,000	1,320	2,191	2,470
Ending balance	17,368	15,182	17,368	15,182
Period end amount allocated to
Individually evaluated for impairment					$ 44
Collectively evaluated for impairment					16,051
Purchase credit impaired					44
Allowance for credit loss	17,368	15,182	17,368	15,182	16,128
Loans
Individually evaluated for impairment					4,330
Collectively evaluated for impairment					1,731,978
Purchase credit impaired					5,128
Ending Balance	1,864,971		1,864,971		1,737,106
Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			(53)
Period end amount allocated to
Allowance for credit loss					(53)
Construction, land & land development
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			1,959
Period end amount allocated to
Individually evaluated for impairment					44
Collectively evaluated for impairment					1,915
Purchase credit impaired					44
Allowance for credit loss					1,959
Loans
Individually evaluated for impairment					514
Collectively evaluated for impairment					228,921
Purchase credit impaired					514
Ending Balance					229,435
Other commercial real estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			8,886
Period end amount allocated to
Individually evaluated for impairment					0
Collectively evaluated for impairment					8,853
Purchase credit impaired					0
Allowance for credit loss					8,886
Loans
Individually evaluated for impairment					3,754
Collectively evaluated for impairment					970,895
Purchase credit impaired					4,552
Ending Balance					975,447
Commercial real estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	11,014	9,080	10,845	8,818
Charge-Offs	0	0	0	(58)
Recoveries	9	10	42	95
Provision for credit losses on loans	(88)	1,218	530	1,453
Ending balance	10,935	10,308	10,935	10,308
Period end amount allocated to
Allowance for credit loss	10,935	10,308	10,935	10,308	10,845
Loans
Ending Balance	1,214,436		1,214,436		1,204,882
Commercial real estate \| Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			(482)
Period end amount allocated to
Allowance for credit loss					(482)
Commercial real estate \| Construction, land & land development
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,281	1,052	1,959	1,127
Charge-Offs	0	0	0	0
Recoveries	1	5	9	16
Provision for credit losses on loans	(67)	873	99	787
Ending balance	2,215	1,930	2,215	1,930
Period end amount allocated to
Allowance for credit loss	2,215	1,930	2,215	1,930	1,959
Loans
Ending Balance	245,268		245,268		229,435
Commercial real estate \| Construction, land & land development \| Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			148
Period end amount allocated to
Allowance for credit loss					148
Commercial real estate \| Other commercial real estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	8,733	8,028	8,886	7,691
Charge-Offs	0	0	0	(58)
Recoveries	8	5	33	79
Provision for credit losses on loans	(21)	345	431	666
Ending balance	8,720	8,378	8,720	8,378
Period end amount allocated to
Allowance for credit loss	8,720	8,378	8,720	8,378	8,886
Loans
Ending Balance	969,168		969,168		975,447
Commercial real estate \| Other commercial real estate \| Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			(630)
Period end amount allocated to
Allowance for credit loss					(630)
Residential real estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,642	1,488	2,354	1,805
Charge-Offs	0	0	0	(48)
Recoveries	3	23	40	45
Provision for credit losses on loans	128	424	(674)	133
Ending balance	2,773	1,935	2,773	1,935
Period end amount allocated to
Individually evaluated for impairment					0
Collectively evaluated for impairment					2,354
Purchase credit impaired					0
Allowance for credit loss	2,773	1,935	2,773	1,935	2,354
Loans
Individually evaluated for impairment					62
Collectively evaluated for impairment					289,992
Purchase credit impaired					62
Ending Balance	339,501		339,501		290,054
Residential real estate \| Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			1,053
Period end amount allocated to
Allowance for credit loss					1,053
Commercial, financial & agricultural
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,984	1,678	2,709	1,083
Charge-Offs	(714)	(118)	(1,157)	(266)
Recoveries	13	7	180	63
Provision for credit losses on loans	737	1,163	1,978	1,850
Ending balance	3,020	2,730	3,020	2,730
Period end amount allocated to
Individually evaluated for impairment					0
Collectively evaluated for impairment					2,709
Purchase credit impaired					0
Allowance for credit loss	3,020	2,730	3,020	2,730	2,709
Loans
Individually evaluated for impairment					0
Collectively evaluated for impairment					223,923
Purchase credit impaired					0
Ending Balance	252,725		252,725		223,923
Commercial, financial & agricultural \| Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			(690)
Period end amount allocated to
Allowance for credit loss					(690)
Consumer and other
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	426	1,717	220	1,204
Charge-Offs	(14)	(33)	(17)	(54)
Recoveries	5	10	14	25
Provision for credit losses on loans	223	(1,485)	357	(966)
Ending balance	640	209	640	209
Period end amount allocated to
Individually evaluated for impairment					0
Collectively evaluated for impairment					220
Purchase credit impaired					0
Allowance for credit loss	640	$ 209	640	$ 209	220
Loans
Individually evaluated for impairment					0
Collectively evaluated for impairment					18,247
Purchase credit impaired					0
Ending Balance	$ 58,309		58,309		18,247
Consumer and other \| Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance			$ 66
Period end amount allocated to
Allowance for credit loss					$ 66

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Sep. 30, 2023
Receivables [Abstract]
Supportable forecast period	1 year
Outstanding balance of high risk loans, minimum		$ 0.5

Allowance for Credit Losses - U

Allowance for Credit Losses - Unfunded Commitments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Receivables [Abstract]
Beginning balance	$ 17,066	$ 16,128
Ending balance	17,368	17,368
Cumulative Effect, Period of Adoption, Adjustment
Receivables [Abstract]
Beginning balance		(53)
Unfunded Loan Commitment
Receivables [Abstract]
Beginning balance	1,570	0
Change in unfunded commitments	0	(91)
Ending balance	$ 1,570	1,570
Unfunded Loan Commitment \| Cumulative Effect, Period of Adoption, Adjustment
Receivables [Abstract]
Beginning balance		$ 1,661

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) $ in Thousands			3 Months Ended		9 Months Ended
Derivatives - Narrative (Details) $ in Thousands	Jun. 26, 2023 USD ($)	Jun. 23, 2023 USD ($)	Sep. 30, 2023 USD ($) interest_rate_swap	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) interest_rate_swap	Sep. 30, 2022 USD ($)	Jun. 30, 2023 interest_rate_swap
Derivative Instruments, Gain (Loss) [Line Items]
Number of interest rate swaps \| interest_rate_swap			0		0		2
Amount of gain reclassified from OCI to interest expense			$ 164	$ 0	$ 173	$ 0
Derivative instruments			914,000		914,000
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain reclassified from OCI to interest expense			$ 164		$ 173
Interest Rate Swap \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, term	3 years	5 years
Derivative, notional amount	$ 25,000	$ 25,000

Derivatives - Summary of Gain (

Derivatives - Summary of Gain (Loss) on Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain reclassified from OCI to interest expense	$ 164	$ 0	$ 173	$ 0
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain reclassified from OCI to interest expense	164		173
Interest Rate Swap \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain recognized in OCI	482		681
Amount of gain reclassified from OCI to interest expense	$ 164		$ 173

Borrowings - Summary of Other B

Borrowings - Summary of Other Borrowed Money (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Federal Home Loan Bank advances	$ 185,000	$ 125,000
Other borrowings	63,422	78,352
Total borrowings	$ 248,422	$ 203,352

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($)		9 Months Ended
Borrowings - Narrative (Details) - USD ($)	May 20, 2022	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Lendable collateral of loans		$ 276,600,000
Remaining credit available		587,900,000
Subordinated debt		24,200,000	$ 24,200,000
Line of credit, current borrowing capacity		64,500,000
Outstanding balance on line of credit		$ 0
Emergency funding, term		1 year
Emergency funding, line of credit		$ 100,000,000
Federal Reserve Bank of Atlanta
Debt Instrument [Line Items]
Line of credit, current borrowing capacity		54,300,000
Outstanding balance on line of credit		0
Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, stated interest rate	5.25%
Line of credit, maximum amount	$ 40,000,000
Long-term debt		$ 39,200,000
Subordinated Debt \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	2.65%
Subordinated Debt, Fixed Rate
Debt Instrument [Line Items]
Debt instrument, term	5 years
Subordinated Debt, Variable Rate
Debt Instrument [Line Items]
Debt instrument, term	5 years
Minimum \| Federal Home Loan Bank Advances
Debt Instrument [Line Items]
Debt instrument, stated interest rate		3.69%
Maximum \| Federal Home Loan Bank Advances
Debt Instrument [Line Items]
Debt instrument, stated interest rate		5.57%

Borrowings - Schedule of Aggreg

Borrowings - Schedule of Aggregate Stated Maturities (Details) - Other borrowings $ in Thousands	Sep. 30, 2023 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2023	$ 50,000
2024	30,000
2025	0
2026	25,000
2027	15,000
2028 and After	128,422
Long-term debt	$ 248,422

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator
Net income available to common stockholders	$ 5,804	$ 5,252	$ 16,149	$ 13,991
Weighted average number of common shares
Outstanding for basic earnings per common share (in shares)	17,569,493	17,645,119	17,581,817	17,042,838
Weighted-average number of shares outstanding for diluted earnings per common share (in shares)	17,569,493	17,645,119	17,581,817	17,042,838
Earnings per share - basic (in dollars per share)	$ 0.33	$ 0.30	$ 0.92	$ 0.82
Earnings per share - diluted (in dollars per share)	$ 0.33	$ 0.30	$ 0.92	$ 0.82

Commitments and Contingencies -

Commitments and Contingencies - Financial Instruments Outstanding Whose Contract Amount Represents Credit Risk (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Commitments [Line Items]
Letters of credit	$ 5,656	$ 3,333
Loan Origination Commitments
Other Commitments [Line Items]
Loan commitments	$ 402,949	$ 379,997

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details)	9 Months Ended
Commitments and Contingencies - Narrative (Details)	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Letter of credit, expiration date period	1 year

Fair Value of Financial Instr_3

Fair Value of Financial Instruments and Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 01, 2022
Assets
Investment securities available for sale, at fair value	$ 399,547	$ 432,553
Investment securities held to maturity	385,065	411,264	$ 477,000
Carrying Value
Assets
Cash and short-term investments	141,340	80,678
Investment securities available for sale, at fair value	399,547	432,553
Investment securities held to maturity	451,056	465,858
Other investments, at cost	17,323	13,793
Loans held for sale	27,246	17,743
Loans, net	1,847,603	1,720,978
Derivative instruments	914
Liabilities
Deposits	2,591,332	2,490,997
Federal Home Loan Bank advances	185,000	125,000
Other borrowings	63,422	78,352
Estimated Fair Value
Assets
Cash and short-term investments	141,340	80,678
Investment securities available for sale, at fair value	399,547	432,553
Investment securities held to maturity	385,065	411,264
Other investments, at cost	17,323	13,793
Loans held for sale	27,246	17,743
Loans, net	1,638,269	1,469,707
Derivative instruments	914
Liabilities
Deposits	2,582,790	2,489,481
Federal Home Loan Bank advances	189,065	125,163
Other borrowings	48,475	69,930
Estimated Fair Value \| Level 1
Assets
Cash and short-term investments	141,340	80,678
Investment securities available for sale, at fair value	0	0
Investment securities held to maturity	0	0
Other investments, at cost	0	0
Loans held for sale	0	0
Loans, net	0	0
Derivative instruments	0
Liabilities
Deposits	0	0
Federal Home Loan Bank advances	0	0
Other borrowings	0	0
Estimated Fair Value \| Level 2
Assets
Cash and short-term investments	0	0
Investment securities available for sale, at fair value	386,102	416,957
Investment securities held to maturity	385,065	411,264
Other investments, at cost	17,323	13,003
Loans held for sale	27,246	17,743
Loans, net	0	0
Derivative instruments	914
Liabilities
Deposits	2,582,790	2,489,481
Federal Home Loan Bank advances	189,065	125,163
Other borrowings	48,475	69,930
Estimated Fair Value \| Level 3
Assets
Cash and short-term investments	0	0
Investment securities available for sale, at fair value	13,445	15,596
Investment securities held to maturity	0	0
Other investments, at cost	0	790
Loans held for sale	0	0
Loans, net	1,638,269	1,469,707
Derivative instruments	0
Liabilities
Deposits	0	0
Federal Home Loan Bank advances	0	0
Other borrowings	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments and Fair Value Measurements - Narrative (Details)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair value input, discount amount	10%

Fair Value of Financial Instr_5

Fair Value of Financial Instruments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans	$ 628	$ 521
Other real estate owned	812	651
Total nonrecurring assets	1,440	1,172
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans	0	0
Other real estate owned	0	0
Total nonrecurring assets	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans	0	0
Other real estate owned	0	0
Total nonrecurring assets	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent impaired loans	628	521
Other real estate owned	812	651
Total nonrecurring assets	$ 1,440	$ 1,172

Fair Value of Financial Instr_6

Fair Value of Financial Instruments and Fair Value Measurements - Quantitative Information for Financial Instruments Measured at Fair Value (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned	$ 812	$ 651
Investment securities available for sale, at fair value	399,547	432,553
Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent impaired loans	628	521
Level 3 \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent impaired loans	628	521
Other real estate owned	812	651
Investment securities available for sale, at fair value	13,445	15,596
Other investments	$ 0	$ 790
Level 3 \| Nonrecurring \| Minimum \| Measurement Input, Appraised Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent impaired loans, weighted average discount range	0	0.25
Other real estate owned, weighted average discount range	0	0
Level 3 \| Nonrecurring \| Maximum \| Measurement Input, Appraised Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent impaired loans, weighted average discount range	0.50	0.50
Other real estate owned, weighted average discount range	0.20	0.20

Fair Value of Financial Instr_7

Fair Value of Financial Instruments and Fair Value Measurements - Fair Value Measurement Using Significant Unobservable Inputs (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Available for sale securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning	$ 13,805,000		$ 15,596,000
Redemptions/Payments	(482,000)		(2,137,000)
Fair value adjustments	122,000		(394,000)
Transfer to Level 3	0	$ 0	380,000	$ 0
Balance, Ending	13,445,000		13,445,000
Other Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning	0		790,000
Redemptions/Payments	0		(800,000)
Fair value adjustments	0		10,000
Transfer to Level 3	0		0
Balance, Ending	$ 0		$ 0

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023 USD ($) employee	Sep. 30, 2022 USD ($) employee	Sep. 30, 2023 USD ($) employee	Sep. 30, 2022 USD ($) employee	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Net Interest Income		$ 19,621	$ 20,898	$ 59,370	$ 59,272
Provision for Credit Losses	[1]	1,000	1,320	2,100	2,470
Noninterest Income		9,718	8,146	26,329	27,337
Noninterest Expenses		20,881	21,367	63,478	67,648
Income Taxes		1,654	1,105	3,972	2,500
Net income		5,804	$ 5,252	16,149	$ 13,991
Segment assets		$ 3,093,823		$ 3,093,823		$ 2,936,570
Full time employees \| employee		460	486	460	486
Bank
Segment Reporting Information [Line Items]
Net Interest Income		$ 18,778	$ 20,541	$ 57,478	$ 58,203
Provision for Credit Losses		286	1,320	1,246	2,470
Noninterest Income		6,233	4,255	16,584	13,723
Noninterest Expenses		16,653	17,537	52,115	54,742
Income Taxes		1,777	1,047	4,089	2,174
Net income		6,295	$ 4,892	16,612	$ 12,540
Segment assets		$ 2,999,071		$ 2,999,071		2,857,893
Full time employees \| employee		382	396	382	396
Mortgage Banking
Segment Reporting Information [Line Items]
Net Interest Income		$ 52	$ 17	$ 86	$ 145
Provision for Credit Losses		0	0	0	0
Noninterest Income		1,725	2,345	5,017	7,993
Noninterest Expenses		2,040	2,289	5,723	7,799
Income Taxes		(53)	10	(125)	104
Net income		(210)	$ 63	(495)	$ 235
Segment assets		$ 9,991		$ 9,991		18,221
Full time employees \| employee		45	61	45	61
Small Business Specialty Lending Division
Segment Reporting Information [Line Items]
Net Interest Income		$ 791	$ 340	$ 1,806	$ 924
Provision for Credit Losses		714	0	854	0
Noninterest Income		1,760	1,546	4,728	5,621
Noninterest Expenses		2,188	1,541	5,640	5,107
Income Taxes		(70)	48	8	222
Net income		(281)	$ 297	32	$ 1,216
Segment assets		$ 84,761		$ 84,761		$ 60,456
Full time employees \| employee		33	29	33	29

[1](1) Beginning January 1, 2023, provision calculation is based on current expected loss methodology. Prior to January 1, 2023, calculation was based on incurred loss methodology.

Regulatory Capital Matters (Det

Regulatory Capital Matters (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Total Capital to Risk-Weighted Assets
Actual Amount	$ 331,389	$ 318,250
Actual Ratio	0.1511	0.1511
For Capital Adequacy Purposes, Amount	$ 175,454	$ 168,498
For Capital Adequacy Purposes, Ratio	0.0800	0.0800
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 219,318
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.1000
Tier 1 Capital to Risk-Weighted Assets
Actual Amount	$ 273,258	$ 262,999
Actual Ratio	0.1246	0.1249
For Capital Adequacy Purposes, Amount	$ 131,585	$ 126,341
For Capital Adequacy Purposes, Ratio	0.0600	0.0600
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 175,447
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0800
Common Equity Tier 1 Capital to Risk-Weighted Assets
Actual Amount	$ 249,029	$ 238,770
Actual Ratio	0.1136	0.1134
For Capital Adequacy Purposes, Amount	$ 98,647	$ 94,750
For Capital Adequacy Purposes, Ratio	4.50%	4.50%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 142,490
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%
Tier 1 Capital to Average Assets
Actual Amount	$ 273,258	$ 262,999
Actual Ratio	0.0893	0.0917
For Capital Adequacy Purposes, Amount	$ 122,400	$ 114,721
For Capital Adequacy Purposes, Ratio	0.0400	0.0400
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 153,000
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500
Colony Bank
Total Capital to Risk-Weighted Assets
Actual Amount	$ 293,184	$ 272,812
Actual Ratio	0.1343	0.1299
For Capital Adequacy Purposes, Amount	$ 174,644	$ 168,014
For Capital Adequacy Purposes, Ratio	0.0800	0.0800
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 218,305	$ 210,017
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.1000	0.1000
Tier 1 Capital to Risk-Weighted Assets
Actual Amount	$ 274,246	$ 256,684
Actual Ratio	0.1256	0.1222
For Capital Adequacy Purposes, Amount	$ 131,009	$ 126,031
For Capital Adequacy Purposes, Ratio	0.0600	0.0600
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 174,679	$ 168,042
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0800	0.0800
Common Equity Tier 1 Capital to Risk-Weighted Assets
Actual Amount	$ 274,246	$ 256,684
Actual Ratio	0.1256	0.1222
For Capital Adequacy Purposes, Amount	$ 98,257	$ 94,524
For Capital Adequacy Purposes, Ratio	4.50%	4.50%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 141,927	$ 136,534
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%	6.50%
Tier 1 Capital to Average Assets
Actual Amount	$ 274,246	$ 256,684
Actual Ratio	0.0899	0.0897
For Capital Adequacy Purposes, Amount	$ 122,023	$ 114,463
For Capital Adequacy Purposes, Ratio	0.0400	0.0400
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 152,528	$ 143,079
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500	0.0500

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended		9 Months Ended
Subsequent Events (Details) - $ / shares	Oct. 25, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)		$ 0.11	$ 0.1075	$ 0.33	$ 0.3225
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.11