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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Cash and due from banks:    
Noninterest bearing deposits and cash $ 2,931 $ 2,588
Interest bearing deposits 64,075 82,812
Total cash and cash equivalents 67,006 85,400
Securities:    
Available for sale securities, at fair value (Note 2) 28,735 29,377
Other Investments 4,450 4,450
Federal Reserve Bank stock, at cost 2,099 2,075
Federal Home Loan Bank stock, at cost 6,570 6,570
Total securities 41,854 42,472
Loans receivable (net of allowance for loan losses: 2016: $5,247 2015: $5,242) (Note 3) 479,936 479,127
Accrued interest and dividends receivable 2,075 2,010
Premises and equipment, net 29,790 29,421
Deferred tax asset (Note 6) 13,354 13,763
Other assets 1,740 1,338
Total assets 635,755 653,531
Deposits (Note 4):    
Noninterest bearing deposits 79,483 85,065
Interest bearing deposits 346,154 361,982
Total deposits 425,637 447,047
Federal Home Loan Bank borrowings (Note 8) 134,900 132,000
Junior subordinated debt owed to unconsolidated trust (Note 8) 8,248 8,248
Note Payable (Note 8) 1,893 1,939
Accrued expenses and other liabilities 2,771 2,833
Total liabilities $ 573,449 $ 592,067
Shareholders' equity (Note 7)    
Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding
Common stock, $.01 par value, 100,000,000 shares authorized; 2016: 3,957,377 shares issued; 3,956,207 shares outstanding. 2015 : 3,957,377 shares issued; 3,956,207 shares outstanding $ 40 $ 40
Additional paid-in capital 106,722 106,568
Accumulated deficit (44,179) (44,832)
Less: Treasury stock, at cost: 2016 and 2015, 1,170 shares (160) (160)
Accumulated other comprehensive loss (117) (152)
Total shareholders' equity 62,306 61,464
Total liabilities and shareholders' equity $ 635,755 $ 653,531