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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
ASSETS    
Cash and due from depository institutions $ 22,077 $ 25,107
Interest bearing deposits 2,749 3,066
Short-term investments in money market funds 5,640 5,900
Total cash and cash equivalents 30,466 34,073
Investment securities:    
Available for sale 130,703 127,077
Held to maturity (fair value $37,715 on June 30, 2017 and $30,420 on December 31, 2016) 37,664 30,665
Loans held for sale 4,630 3,094
Loans 893,683 884,240
Less: Unearned income 437 476
Allowance for loan losses 10,391 9,932
Net loans 882,855 873,832
Premises and equipment, net 12,159 11,694
Accrued interest income receivable 3,331 3,116
Goodwill 11,944 11,944
Bank owned life insurance 37,573 37,903
Net deferred tax asset 9,791 10,655
Federal Home Loan Bank stock 4,302 3,359
Federal Reserve Bank stock 2,125 2,125
Other assets 4,419 4,243
TOTAL ASSETS 1,171,962 1,153,780
LIABILITIES    
Non-interest bearing deposits 180,638 188,808
Interest bearing deposits 775,737 778,978
Total deposits 956,375 967,786
Short-term borrowings 42,101 12,754
Advances from Federal Home Loan Bank 45,042 45,542
Guaranteed junior subordinated deferrable interest debentures, net 12,916 12,908
Subordinated debt, net 7,453 7,441
Total borrowed funds 107,512 78,645
Other liabilities 11,798 11,954
TOTAL LIABILITIES 1,075,685 1,058,385
SHAREHOLDERS’ EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,545,403 shares issued and 18,461,628 outstanding on June 30, 2017; 26,521,291 shares issued and 18,903,472 outstanding on December 31, 2016 265 265
Treasury stock at cost, 8,083,775 shares on June 30, 2017 and 7,617,819 on December 31, 2016 (76,698) (74,829)
Capital surplus 145,599 145,535
Retained earnings 38,175 36,001
Accumulated other comprehensive loss, net [1] (11,064) (11,577)
TOTAL SHAREHOLDERS’ EQUITY 96,277 95,395
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,171,962 $ 1,153,780
[1] Amounts in parentheses indicate debits on the Consolidated Balance Sheets.