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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and due from banks $ 24,345 $ 28,185
Interest-earning deposits in other banks 45,161 10,368
Federal funds sold 22 15
Total cash and cash equivalents 69,528 38,568
Available-for-sale investment securities (Amortized cost of $526,678 at March 31, 2017 and $548,640 at December 31, 2016) 529,240 547,749
Loans, less allowance for credit losses of $9,214 at March 31, 2017 and $9,326 at December 31, 2016 755,176 747,302
Bank premises and equipment, net 9,162 9,407
Bank-owned life insurance 23,337 23,189
Federal Home Loan Bank stock 5,594 5,594
Goodwill 40,311 40,231
Core deposit intangibles 1,336 1,383
Accrued interest receivable and other assets 25,850 29,900
Total assets 1,459,534 1,443,323
Deposits:    
Non-interest bearing 469,715 495,815
Interest bearing 797,601 760,164
Total deposits 1,267,316 1,255,979
Short-term borrowings 0 400
Junior subordinated deferrable interest debentures 5,155 5,155
Accrued interest payable and other liabilities 16,935 17,756
Total liabilities 1,289,406 1,279,290
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Preferred stock, no par value, $1,000 per share liquidation preference; 10,000,000 shares authorized, none issued and outstanding 0 0
Common stock, no par value; 80,000,000 shares authorized; issued and outstanding: 12,198,580 at March 31, 2017 and 12,143,815 at December 31, 2016 72,219 71,645
Retained earnings 96,424 92,904
Accumulated other comprehensive income (loss), net of tax 1,485 (516)
Total shareholders’ equity 170,128 164,033
Total liabilities and shareholders’ equity $ 1,459,534 $ 1,443,323