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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and due from depository institutions $ 26,234 $ 25,107
Interest bearing deposits 2,698 3,066
Short-term investments in money market funds 5,256 5,900
Cash and cash equivalents 34,188 34,073
Investment securities:    
Available for sale 129,138 127,077
Held to maturity (fair value $38,811 at December 31, 2017 and $30,420 at December 31, 2016) 38,752 30,665
Loans held for sale 3,125 3,094
Loans 890,032 884,240
Less: Unearned income 399 476
Allowance for loan losses 10,214 9,932
Net loans 879,419 873,832
Premises and equipment, net 12,734 11,694
Accrued interest income receivable 3,603 3,116
Goodwill 11,944 11,944
Bank owned life insurance 37,860 37,903
Net deferred tax asset 5,963 10,655
Federal Home Loan Bank stock 4,675 3,359
Federal Reserve Bank stock 2,125 2,125
Other assets 4,129 4,243
TOTAL ASSETS 1,167,655 1,153,780
LIABILITIES    
Non-interest bearing deposits 183,603 188,808
Interest bearing deposits 764,342 778,978
Total deposits 947,945 967,786
Short-term borrowings 49,084 12,754
Advances from Federal Home Loan Bank 46,229 45,542
Guaranteed junior subordinated deferrable interest debentures 12,923 12,908
Subordinated debt 7,465 7,441
Total borrowed funds 115,701 78,645
Other liabilities 8,907 11,954
TOTAL LIABILITIES 1,072,553 1,058,385
STOCKHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized: 26,585,403 shares issued and 18,128,247 shares outstanding on December 31, 2017; 26,521,291 shares issued and 18,903,472 shares outstanding on December 31, 2016 266 265
Treasury stock at cost, 8,457,156 shares on December 31, 2017 and 7,617,819 shares on December 31, 2016 (78,233) (74,829)
Capital surplus 145,707 145,535
Retained earnings 40,312 36,001
Accumulated other comprehensive loss, net [1] (12,950) (11,577)
TOTAL STOCKHOLDERS’ EQUITY 95,102 95,395
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,167,655 $ 1,153,780
[1] Amounts in parentheses indicate debits on the Consolidated Balance Sheets.