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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Cash and due from depository institutions $ 20,267 $ 25,107
Interest bearing deposits 2,718 3,066
Short-term investments in money market funds 5,690 5,900
Total cash and cash equivalents 28,675 34,073
Investment securities:    
Available for sale 129,446 127,077
Held to maturity (fair value $39,059 on September 30, 2017 and $30,420 on December 31, 2016) 38,997 30,665
Loans held for sale 1,780 3,094
Loans 896,648 884,240
Less: Unearned income 438 476
Allowance for loan losses 10,346 9,932
Net loans 885,864 873,832
Premises and equipment, net 12,658 11,694
Accrued interest income receivable 3,503 3,116
Goodwill 11,944 11,944
Bank owned life insurance 37,716 37,903
Net deferred tax asset 9,255 10,655
Federal Home Loan Bank stock 4,429 3,359
Federal Reserve Bank stock 2,125 2,125
Other assets 4,524 4,243
TOTAL ASSETS 1,170,916 1,153,780
LIABILITIES    
Non-interest bearing deposits 182,396 188,808
Interest bearing deposits 784,525 778,978
Total deposits 966,921 967,786
Short-term borrowings 33,593 12,754
Advances from Federal Home Loan Bank 44,042 45,542
Guaranteed junior subordinated deferrable interest debentures, net 12,919 12,908
Subordinated debt, net 7,459 7,441
Total borrowed funds 98,013 78,645
Other liabilities 8,872 11,954
TOTAL LIABILITIES 1,073,806 1,058,385
SHAREHOLDERS’ EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,585,403 shares issued and 18,281,224 outstanding on September 30, 2017; 26,521,291 shares issued and 18,903,472 outstanding on December 31, 2016 266 265
Treasury stock at cost, 8,304,179 shares on September 30, 2017 and 7,617,819 on December 31, 2016 (77,586) (74,829)
Capital surplus 145,704 145,535
Retained earnings 39,450 36,001
Accumulated other comprehensive loss, net [1] (10,724) (11,577)
TOTAL SHAREHOLDERS’ EQUITY 97,110 95,395
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,170,916 $ 1,153,780
[1] Amounts in parentheses indicate debits on the Consolidated Balance Sheets.