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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Assets    
Cash and cash equivalents $ 9,720 $ 9,800
Securities available for sale, at fair value 504,969 470,525
Federal Home Loan Bank stock 21,479 21,354
Loans 990,070 919,024
Allowance for loan losses (9,439) (8,969)
Loans, net of allowance for loan losses 980,631 910,055
Premises and equipment, net 20,674 20,518
Goodwill 4,935 4,935
Bank owned life insurance 23,747 8,141
Other assets 13,900 13,992
TOTAL ASSETS 1,580,055 1,459,320
Liabilities    
Demand and other non-interest bearing deposits 86,577 78,802
NOW accounts 160,394 153,499
Savings and money market deposits 299,087 247,685
Time deposits 396,729 378,063
Total deposits 942,787 858,049
Short-term borrowings 333,909 313,520
Long-term advances from Federal Home Loan Bank 135,882 128,500
Junior subordinated debentures 5,000 5,000
Other liabilities 8,325 7,964
TOTAL LIABILITIES 1,425,903 1,313,033
Shareholders' equity    
Capital stock, par value $2.00; authorized 20,000,000 and 10,000,000 shares; issued 6,788,407 shares at December 31, 2015 and December 31, 2014, respectively 13,577 13,577
Surplus 21,624 20,905
Retained earnings 122,260 113,149
Accumulated other comprehensive income:    
Prior service cost and unamortized net actuarial losses on employee benefit plans, net of tax of ($249) and ($251), at December 31, 2015 and December 31, 2014, respectively (463) (488)
Net unrealized appreciation on securities available for sale, net of tax of $2,828 and $3,997, at December 31, 2015 and December 31, 2014, respectively 5,251 7,423
Portion of OTTI attributable to non-credit gains, net of tax of $249 and $257, at December 31, 2015 and December 31, 2014, respectively 462 478
Net unrealized depreciation on derivative instruments, net of tax of $873 and $389, at December 31, 2015 and December 31, 2014, respectively (1,621) (722)
Total accumulated other comprehensive income 3,629 6,691
Less: cost of 778,196 and 842,082 shares of treasury stock at December 31, 2015 and December 31, 2014, respectively (6,938) (8,035)
TOTAL SHAREHOLDERS' EQUITY 154,152 146,287
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,580,055 $ 1,459,320