v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Dec. 31, 2013
ASSETS    
Cash and cash equivalents $ 28,842 $ 56,954
Securities available-for-sale (“AFS”) 134,760 59,111
Loans, net of deferred fees 1,101,775 903,645
Allowance for loan and lease losses (“ALLL”) (10,150) (9,915)
Net loans 1,091,625 893,730
Premises and equipment, net 2,452 3,249
Investment in FHLB stock 9,776 6,721
Deferred taxes 10,639 12,052
Real estate owned (“REO”) 334 375
Other assets 6,085 5,168
Total Assets 1,284,513 1,037,360
Liabilities:    
Deposits 951,164 802,037
Borrowings 228,682 141,063
Accounts payable and other liabilities 10,807 7,498
Total Liabilities 1,190,653 950,598
Commitments and contingencies      
Shareholders’ Equity    
Common Stock, par value $.001: 20,000,000 shares authorized; 7,736,736 and 7,733,514 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively 8 8
Additional paid-in-capital 76,721 76,334
Retained earnings 17,378 11,990
Accumulated other comprehensive income (loss), net of tax (247) (1,570)
Total Shareholders’ Equity 93,860 86,762
Total Liabilities and Shareholders’ Equity $ 1,284,513 $ 1,037,360