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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and due from depository institutions $ 22,696 $ 25,107
Interest bearing deposits 2,748 3,066
Short-term investments in money market funds 5,572 5,900
Total cash and cash equivalents 31,016 34,073
Investment securities:    
Available for sale 129,044 127,077
Held to maturity (fair value $36,594 on March 31, 2017 and $30,420 on December 31, 2016) 36,737 30,665
Loans held for sale 2,613 3,094
Loans 897,296 884,240
Less: Unearned income 453 476
Allowance for loan losses 10,080 9,932
Net loans 886,763 873,832
Premises and equipment, net 11,968 11,694
Accrued interest income receivable 3,200 3,116
Goodwill 11,944 11,944
Bank owned life insurance 38,044 37,903
Net deferred tax asset 9,998 10,655
Federal Home Loan Bank stock 4,284 3,359
Federal Reserve Bank stock 2,125 2,125
Other assets 4,391 4,243
TOTAL ASSETS 1,172,127 1,153,780
LIABILITIES    
Non-interest bearing deposits 182,528 188,808
Interest bearing deposits 782,248 778,978
Total deposits 964,776 967,786
Short-term borrowings 33,676 12,754
Advances from Federal Home Loan Bank 46,042 45,542
Guaranteed junior subordinated deferrable interest debentures, net 12,912 12,908
Subordinated debt, net 7,447 7,441
Total borrowed funds 100,077 78,645
Other liabilities 11,670 11,954
TOTAL LIABILITIES 1,076,523 1,058,385
SHAREHOLDERS’ EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,536,139 shares issued and 18,666,520 outstanding on March 31, 2017; 26,521,291 shares issued and 18,903,472 outstanding on December 31, 2016 265 265
Treasury stock at cost, 7,869,619 shares on March 31, 2017 and 7,617,819 on December 31, 2016 (75,821) (74,829)
Capital surplus 145,577 145,535
Retained earnings 37,066 36,001
Accumulated other comprehensive loss, net [1] (11,483) (11,577)
TOTAL SHAREHOLDERS’ EQUITY 95,604 95,395
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,172,127 $ 1,153,780
[1] Amounts in parentheses indicate debits on the Consolidated Balance Sheets.