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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and due from depository institutions $ 22,798 $ 26,234
Interest bearing deposits 2,794 2,698
Short-term investments in money market funds 5,002 5,256
Total cash and cash equivalents 30,594 34,188
Investment securities:    
Available for sale, at fair value 132,390 129,138
Held to maturity (fair value $38,041 on March 31, 2018 and $38,811 on December 31, 2017) 38,663 38,752
Loans held for sale 843 3,125
Loans 875,249 890,032
Less: Unearned income 376 399
Allowance for loan losses 9,932 10,214
Net loans 864,941 879,419
Premises and equipment, net 12,406 12,734
Accrued interest income receivable 3,555 3,603
Goodwill 11,944 11,944
Bank owned life insurance 37,992 37,860
Net deferred tax asset 5,585 5,963
Federal Home Loan Bank stock 4,265 4,675
Federal Reserve Bank stock 2,125 2,125
Other assets 5,857 4,129
TOTAL ASSETS 1,151,160 1,167,655
LIABILITIES    
Non-interest bearing deposits 179,137 183,603
Interest bearing deposits 765,069 764,342
Total deposits 944,206 947,945
Short-term borrowings 36,895 49,084
Advances from Federal Home Loan Bank 45,969 46,229
Guaranteed junior subordinated deferrable interest debentures, net 12,927 12,923
Subordinated debt, net 7,470 7,465
Total borrowed funds 103,261 115,701
Other liabilities 7,883 8,907
TOTAL LIABILITIES 1,055,350 1,072,553
SHAREHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,596,220 shares issued and 18,033,401 outstanding on March 31, 2018; 26,585,403 shares issued and 18,128,247 outstanding on December 31, 2017 266 266
Treasury stock at cost, 8,562,819 shares on March 31, 2018 and 8,457,156 on December 31, 2017 (78,678) (78,233)
Capital surplus 145,739 145,707
Retained earnings 41,807 40,312
Accumulated other comprehensive loss, net [1] (13,324) (12,950)
TOTAL SHAREHOLDERS’ EQUITY 95,810 95,102
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,151,160 $ 1,167,655
[1] Amounts in parentheses indicate debits on the Consolidated Balance Sheets.