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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Assets      
Cash and cash equivalents $ 27,126 $ 26,212 $ 22,742
Interest bearing deposits in other banks 93,779 56,151 48,111
Securities available for sale 309,224 313,376 340,140
Securities to be held to maturity (fair value of $379,797,000 at September 30, 2021, $377,134,000 at December 31, 2020 and $342,062,000 at September 30, 2020) 375,699 365,613 331,962
Restricted equity securities, at cost 8,839 10,545 10,545
Loans held for sale 1,437 5,855 6,387
Loans 1,617,212 1,476,761 1,436,646
Less allowance for loan losses 17,507 16,253 15,371
Net loans 1,599,705 1,460,508 1,421,275
Accrued interest receivable 8,380 9,298 10,249
Premises and equipment, net 29,106 27,251 27,110
Other real estate owned 0 908 777
Goodwill 30,646 30,646 29,805
Other assets 45,650 54,873 47,523
Total assets 2,529,591 2,361,236 2,296,626
Liabilities      
Demand deposits 354,899 250,219 248,444
NOW deposits 625,294 520,385 492,223
Money market deposits 190,420 163,819 156,948
Savings deposits 348,033 304,603 275,513
Certificates of deposit 514,567 605,585 589,931
Total deposits 2,033,213 1,844,611 1,763,059
Borrowed funds – short term 178,109 206,940 228,687
Borrowed funds – long term 55,092 55,098 55,100
Other liabilities 24,440 30,861 30,340
Total liabilities 2,290,854 2,137,510 2,077,186
Shareholders' equity      
Common stock, one cent par value per share 110 110 109
Additional paid-in capital 66,471 65,285 64,943
Retained earnings 174,391 158,359 154,783
Accumulated other comprehensive income (loss)      
Net unrealized gain (loss) on securities available for sale (627) 5,009 5,520
Net unrealized loss on securities transferred from available for sale to held to maturity (99) (133) (139)
Net unrealized loss on cash flow hedging derivative instruments (1,537) (4,932) (5,800)
Net unrealized gain on postretirement costs 28 28 24
Total shareholders' equity 238,737 223,726 219,440
Total liabilities & shareholders' equity $ 2,529,591 $ 2,361,236 $ 2,296,626
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 10,992,950 10,950,289 10,942,959
Number of shares outstanding (in shares) 10,992,950 10,950,289 10,942,959
Book value per common share (usd per share) $ 21.72 $ 20.43 $ 20.05
Tangible book value per common share (usd per share) $ 18.90 $ 17.60 $ 17.32