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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and due from financial institutions $ 40,519 $ 36,695
Securities available for sale 231,062 195,864
Loans held for sale 2,197 2,268
Loans, net of allowance of $13,134 and $13,305 1,151,527 1,042,201
Other securities 14,247 14,055
Premises and equipment, net 17,611 17,920
Accrued interest receivable 4,488 3,854
Goodwill 27,095 27,095
Other intangible assets 1,279 1,784
Bank owned life insurance 25,125 24,552
Other assets 10,707 10,975
Total assets 1,525,857 1,377,263
Deposits    
Noninterest-bearing 361,964 345,588
Interest-bearing 842,959 775,515
Total deposits 1,204,923 1,121,103
Federal Home Loan Bank advances 71,900 48,500
Securities sold under agreements to repurchase 21,755 28,925
Subordinated debentures 29,427 29,427
Accrued expenses and other liabilities 13,391 11,692
Total liabilities 1,341,396 1,239,647
SHAREHOLDERS’ EQUITY    
Preferred shares, no par value, 200,000 shares authorized Series B Preferred shares, $1,000 liquidation preference, 18,760 shares issued at December 31, 2017 and 20,481 shares issued at December 31, 2016, net of issuance costs 17,358 18,950
Common shares, no par value, 20,000,000 shares authorized, 10,946,439 shares issued at December 31, 2017 and 9,091,473 shares issued at December 31, 2016 153,810 118,975
Accumulated earnings 31,652 19,263
Treasury stock, 747,964 common shares at cost (17,235) (17,235)
Accumulated other comprehensive loss (1,124) (2,337)
Total shareholders’ equity 184,461 137,616
Total liabilities and shareholders’ equity $ 1,525,857 $ 1,377,263