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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Assets      
Cash and cash equivalents $ 20,029 $ 26,212 $ 21,117
Interest bearing deposits in other banks 104,602 56,151 6,047
Securities available for sale 294,537 313,376 312,928
Securities to be held to maturity (fair value of $388,836,000 at March 31, 2021, $377,134,000 at December 31, 2020 and $349,248,000 at March 31, 2020) 385,352 365,613 341,592
Restricted equity securities, at cost 10,105 10,545 9,994
Loans held for sale 3,522 5,855 561
Loans 1,516,772 1,476,761 1,344,208
Less allowance for loan losses 16,594 16,253 11,858
Net loans 1,500,178 1,460,508 1,332,350
Accrued interest receivable 10,847 9,298 9,648
Premises and equipment, net 29,985 27,251 21,156
Other real estate owned 401 908 316
Goodwill 30,646 30,646 29,805
Other assets 46,664 54,873 50,882
Total assets 2,436,868 2,361,236 2,136,396
Liabilities      
Demand deposits 275,898 250,219 153,477
NOW deposits 541,684 520,385 382,307
Money market deposits 175,887 163,819 161,184
Savings deposits 325,758 304,603 236,706
Certificates of deposit 634,330 605,585 710,938
Total deposits 1,953,557 1,844,611 1,644,612
Borrowed funds – short term 174,552 206,940 192,937
Borrowed funds – long term 55,096 55,098 55,103
Other liabilities 25,479 30,861 28,487
Total liabilities 2,208,684 2,137,510 1,921,139
Shareholders' equity      
Common stock, one cent par value per share 110 110 109
Additional paid-in capital 65,755 65,285 64,277
Retained earnings 163,659 158,359 147,904
Accumulated other comprehensive income (loss)      
Net unrealized gain on securities available for sale 219 5,009 7,890
Net unrealized loss on securities transferred from available for sale to held to maturity (124) (133) (174)
Net unrealized loss on cash flow hedging derivative instruments (1,463) (4,932) (4,773)
Net unrealized gain on postretirement costs 28 28 24
Total shareholders' equity 228,184 223,726 215,257
Total liabilities & shareholders' equity $ 2,436,868 $ 2,361,236 $ 2,136,396
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 10,983,258 10,950,289 10,921,206
Number of shares outstanding (in shares) 10,983,258 10,950,289 10,921,206
Book value per common share (usd per share) $ 20.78 $ 20.43 $ 19.71
Tangible book value per common share (usd per share) $ 17.96 $ 17.60 $ 16.97