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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Sep. 30, 2019
Assets      
Cash and cash equivalents $ 22,742 $ 14,433 $ 21,418
Interest bearing deposits in other banks 48,111 11,310 16,714
Securities available for sale 340,140 360,520 326,798
Securities to be held to maturity (fair value of $342,062,000 at September 30, 2020, $287,045,000 at December 31, 2019 and $306,647,000 at September 30, 2019) 331,962 281,606 298,786
Restricted equity securities, at cost 10,545 8,982 8,982
Loans held for sale 6,387 154 852
Loans 1,436,646 1,297,075 1,263,459
Less allowance for loan losses 15,371 11,639 11,765
Net loans 1,421,275 1,285,436 1,251,694
Accrued interest receivable 10,249 7,167 7,636
Premises and equipment, net 27,110 21,305 21,232
Other real estate owned 777 279 279
Goodwill 29,805 29,805 29,805
Other assets 47,523 47,799 49,031
Total assets 2,296,626 2,068,796 2,033,227
Liabilities      
Demand deposits 248,444 169,777 171,623
NOW deposits 492,223 393,569 400,514
Money market deposits 156,948 161,000 148,689
Savings deposits 275,513 236,141 240,691
Certificates of deposit 589,931 689,979 661,773
Total deposits 1,763,059 1,650,466 1,623,290
Borrowed funds – short term 228,687 174,850 171,310
Borrowed funds – long term 55,100 10,105 10,107
Other liabilities 30,340 20,867 20,031
Total liabilities 2,077,186 1,856,288 1,824,738
Shareholders' equity      
Common stock, one cent par value per share 109 109 109
Additional paid-in capital 64,943 63,964 63,602
Retained earnings 154,783 144,839 141,509
Accumulated other comprehensive income (loss)      
Net unrealized gain on securities available for sale 5,520 3,657 3,686
Net unrealized loss on securities transferred from available for sale to held to maturity (139) (182) (189)
Net unrealized gain (loss) on cash flow hedging derivative instruments (5,800) 97 (265)
Net unrealized gain on postretirement costs 24 24 37
Total shareholders' equity 219,440 212,508 208,489
Total liabilities & shareholders' equity $ 2,296,626 $ 2,068,796 $ 2,033,227
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 10,942,959 10,899,210 10,896,331
Number of shares outstanding (in shares) 10,942,959 10,899,210 10,896,331
Book value per common share (usd per share) $ 20.05 $ 19.50 $ 19.13
Tangible book value per common share (usd per share) $ 17.32 $ 16.75 $ 16.39