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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
ASSETS    
Cash and due from depository institutions $ 20,182 $ 23,443
Interest bearing deposits 2,788 6,960
Short-term investments in money market funds 4,048 18,107
Total cash and cash equivalents 27,018 48,510
Investment securities:    
Available for sale 120,325 119,467
Held to maturity (fair value $26,228 on June 30, 2016 and $21,533 on December 31, 2015) 25,428 21,419
Loans held for sale 3,140 3,003
Loans 892,875 881,541
Less: Unearned income 502 557
Allowance for loan losses 9,746 9,921
Net loans 882,627 871,063
Premises and equipment, net 11,888 12,108
Accrued interest income receivable 3,286 3,057
Goodwill 11,944 11,944
Bank owned life insurance 37,564 37,228
Net deferred tax asset 8,767 8,993
Federal Home Loan Bank stock 3,737 4,628
Federal Reserve Bank stock 2,125 2,125
Other assets 4,643 4,952
TOTAL ASSETS 1,142,492 1,148,497
LIABILITIES    
Non-interest bearing deposits 173,643 188,947
Interest bearing deposits 767,288 714,347
Total deposits 940,931 903,294
Short-term borrowings 22,575 48,748
Advances from Federal Home Loan Bank 50,042 48,000
Guaranteed junior subordinated deferrable interest debentures, net 12,900 12,892
Subordinated debt, net 7,430 7,418
Total borrowed funds 92,947 117,058
Other liabilities 9,382 9,172
TOTAL LIABILITIES 1,043,260 1,029,524
SHAREHOLDERS’ EQUITY    
Preferred stock, no par value; $1,000 per share liquidation preference; 2,000,000 shares authorized; 21,000 shares issued and outstanding on December 31, 2015 0 21,000
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,514,695 shares issued and 18,896,876 outstanding on June 30, 2016; 26,488,630 shares issued and 18,870,811 outstanding on December 31, 2015 265 265
Treasury stock at cost, 7,617,819 shares on June 30, 2016 and December 31, 2015 (74,829) (74,829)
Capital surplus 145,506 145,441
Retained earnings 34,355 34,651
Accumulated other comprehensive loss, net [1] (6,065) (7,555)
TOTAL SHAREHOLDERS’ EQUITY 99,232 118,973
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,142,492 $ 1,148,497
[1] Amounts in parentheses indicate debits on the Consolidated Balance Sheets