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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Jun. 30, 2020
Assets      
Cash and cash equivalents $ 27,092 $ 26,212 $ 22,143
Interest bearing deposits in other banks 42,215 56,151 21,907
Securities available for sale 306,247 313,376 311,500
Securities to be held to maturity (fair value of $383,454,000 at June 30, 2021, $377,134,000 at December 31, 2020 and $352,225,000 at June 30, 2020) 376,181 365,613 341,962
Restricted equity securities, at cost 8,839 10,545 10,545
Loans held for sale 1,147 5,855 4,950
Loans 1,588,264 1,476,761 1,451,623
Less allowance for loan losses 17,034 16,253 14,110
Net loans 1,571,230 1,460,508 1,437,513
Accrued interest receivable 10,985 9,298 11,055
Premises and equipment, net 29,503 27,251 20,712
Other real estate owned 224 908 851
Goodwill 30,646 30,646 29,805
Other assets 46,134 54,873 54,181
Total assets 2,450,443 2,361,236 2,267,124
Liabilities      
Demand deposits 303,168 250,219 217,377
NOW deposits 553,592 520,385 432,407
Money market deposits 175,839 163,819 169,984
Savings deposits 332,520 304,603 263,720
Certificates of deposit 596,202 605,585 656,633
Total deposits 1,961,321 1,844,611 1,740,121
Borrowed funds – short term 173,554 206,940 223,703
Borrowed funds – long term 55,094 55,098 55,102
Other liabilities 26,319 30,861 31,614
Total liabilities 2,216,288 2,137,510 2,050,540
Shareholders' equity      
Common stock, one cent par value per share 110 110 109
Additional paid-in capital 66,115 65,285 64,601
Retained earnings 168,908 158,359 151,083
Accumulated other comprehensive income (loss)      
Net unrealized gain on securities available for sale 1,190 5,009 7,100
Net unrealized loss on securities transferred from available for sale to held to maturity (113) (133) (146)
Net unrealized loss on cash flow hedging derivative instruments (2,083) (4,932) (6,187)
Net unrealized gain on postretirement costs 28 28 24
Total shareholders' equity 234,155 223,726 216,584
Total liabilities & shareholders' equity $ 2,450,443 $ 2,361,236 $ 2,267,124
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 10,987,680 10,950,289 10,933,428
Number of shares outstanding (in shares) 10,987,680 10,950,289 10,933,428
Book value per common share (usd per share) $ 21.31 $ 20.43 $ 19.81
Tangible book value per common share (usd per share) $ 18.49 $ 17.60 $ 17.07