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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Jun. 30, 2019
Assets      
Cash and cash equivalents $ 22,143 $ 14,433 $ 16,918
Interest bearing deposits in other banks 21,907 11,310 917
Securities available for sale 311,500 360,520 322,570
Securities to be held to maturity (fair value of $352,225,000 at June 30, 2020, $287,045,000 at December 31, 2019 and $308,075,000 at June 30, 2019) 341,962 281,606 302,527
Restricted equity securities, at cost 10,545 8,982 8,982
Loans held for sale 4,950 154 0
Loans 1,451,623 1,297,075 1,249,132
Less allowance for loan losses 14,110 11,639 11,471
Net loans 1,437,513 1,285,436 1,237,661
Accrued interest receivable 11,055 7,167 9,966
Premises and equipment, net 20,712 21,305 21,045
Other real estate owned 851 279 289
Goodwill 29,805 29,805 29,805
Other assets 54,181 47,799 48,019
Total assets 2,267,124 2,068,796 1,998,699
Liabilities      
Demand deposits 217,377 169,777 147,771
NOW deposits 432,407 393,569 363,092
Money market deposits 169,984 161,000 128,180
Savings deposits 263,720 236,141 236,915
Certificates of deposit 656,633 689,979 716,998
Total deposits 1,740,121 1,650,466 1,592,956
Borrowed funds – short term 223,703 174,850 171,749
Borrowed funds – long term 55,102 10,105 10,109
Other liabilities 31,614 20,867 19,292
Total liabilities 2,050,540 1,856,288 1,794,106
Shareholders' equity      
Common stock, one cent par value per share 109 109 109
Additional paid-in capital 64,601 63,964 63,319
Retained earnings 151,083 144,839 138,493
Accumulated other comprehensive income (loss)      
Net unrealized gain on securities available for sale 7,100 3,657 2,750
Net unrealized loss on securities transferred from available for sale to held to maturity (146) (182) (190)
Net unrealized gain (loss) on cash flow hedging derivative instruments (6,187) 97 75
Net unrealized gain on postretirement costs 24 24 37
Total shareholders' equity 216,584 212,508 204,593
Total liabilities & shareholders' equity $ 2,267,124 $ 2,068,796 $ 1,998,699
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 10,933,428 10,899,210 10,890,236
Number of shares outstanding (in shares) 10,933,428 10,899,210 10,890,236
Book value per common share (usd per share) $ 19.81 $ 19.50 $ 18.79
Tangible book value per common share (usd per share) $ 17.07 $ 16.75 $ 16.04