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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Assets      
Cash and cash equivalents $ 21,117 $ 14,433 $ 15,270
Interest bearing deposits in other banks 6,047 11,310 231
Securities available for sale 312,928 360,520 325,276
Securities to be held to maturity (fair value of $349,248,000 at March 31, 2020, $287,045,000 at December 31, 2019 and $282,568,000 at March 31, 2019) 341,592 281,606 281,219
Restricted equity securities, at cost 9,994 8,982 8,982
Loans held for sale 561 154 436
Loans 1,344,208 1,297,075 1,264,639
Less allowance for loan losses 11,858 11,639 11,490
Net loans 1,332,350 1,285,436 1,253,149
Accrued interest receivable 9,648 7,167 9,307
Premises and equipment, net 21,156 21,305 21,767
Other real estate owned 316 279 584
Goodwill 29,805 29,805 29,805
Other assets 50,882 47,799 45,376
Total assets 2,136,396 2,068,796 1,991,402
Liabilities      
Demand deposits 153,477 169,777 148,500
NOW deposits 382,307 393,569 371,305
Money market deposits 161,184 161,000 137,700
Savings deposits 236,706 236,141 236,894
Certificates of deposit 710,938 689,979 712,476
Total deposits 1,644,612 1,650,466 1,606,875
Borrowed funds – short term 192,937 174,850 160,309
Borrowed funds – long term 55,103 10,105 10,110
Other liabilities 28,487 20,867 16,321
Total liabilities 1,921,139 1,856,288 1,793,615
Shareholders' equity      
Common stock, one cent par value per share 109 109 109
Additional paid-in capital 64,277 63,964 63,037
Retained earnings 147,904 144,839 135,364
Accumulated other comprehensive income (loss)      
Net unrealized gain (loss) on securities available for sale 7,890 3,657 (1,539)
Net unrealized loss on securities transferred from available for sale to held to maturity (174) (182) (194)
Net unrealized (loss) gain on cash flow hedging derivative instruments (4,773)    
Net unrealized (loss) gain on cash flow hedging derivative instruments   97 973
Net unrealized gain on postretirement costs 24 24 37
Total shareholders' equity 215,257 212,508 197,787
Total liabilities & shareholders' equity $ 2,136,396 $ 2,068,796 $ 1,991,402
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 10,921,206 10,899,210 10,884,381
Number of shares outstanding (in shares) 10,921,206 10,899,210 10,884,381
Book value per common share (usd per share) $ 19.71 $ 19.50 $ 18.17
Tangible book value per common share (usd per share) $ 16.97 $ 16.75 $ 15.42