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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Cash and due from depository institutions $ 15,642 $ 27,970
Interest bearing deposits 2,755 2,740
Short-term investments in money market funds 3,771 4,184
Cash and cash equivalents 22,168 34,894
Investment securities:    
Available for sale 141,749 146,731
Held to maturity (fair value $41,082 at December 31, 2019 and $40,324 at December 31, 2018) 39,936 40,760
Loans held for sale 4,868 847
Loans 883,090 862,604
Less: Unearned income 384 322
Allowance for loan losses 9,279 8,671
Net loans 873,427 853,611
Premises and equipment:    
Operating lease right-of-use asset 846 0
Financing lease right-of-use asset 3,078 0
Other premises and equipment, net 14,643 13,348
Accrued interest income receivable 3,449 3,489
Goodwill 11,944 11,944
Bank owned life insurance 38,916 38,395
Net deferred tax asset 3,976 3,637
Federal Home Loan Bank stock 3,985 4,520
Federal Reserve Bank stock 2,125 2,125
Other assets 6,074 6,379
TOTAL ASSETS 1,171,184 1,160,680
LIABILITIES    
Non-interest bearing deposits 136,462 150,627
Interest bearing deposits 824,051 798,544
Total deposits 960,513 949,171
Short-term borrowings 22,412 41,029
Advances from Federal Home Loan Bank 53,668 46,721
Operating lease liabilities 865 0
Financing lease liabilities 3,163 0
Guaranteed junior subordinated deferrable interest debentures, net 12,955 12,939
Subordinated debt 7,511 7,488
Total borrowed funds 100,574 108,177
Other liabilities 11,483 5,355
TOTAL LIABILITIES 1,072,570 1,062,703
SHAREHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized: 26,650,728 shares issued and 17,057,871 shares outstanding on December 31, 2019; 30,000,000 shares authorized: 26,609,811 shares issued and 17,619,303 shares outstanding on December 31, 2018 267 266
Treasury stock at cost, 9,592,857 shares on December 31, 2019 and 8,990,508 shares on December 31, 2018 (83,129) (80,579)
Capital surplus 145,888 145,782
Retained earnings 51,759 46,733
Accumulated other comprehensive loss, net [1] (16,171) (14,225)
TOTAL SHAREHOLDERS' EQUITY 98,614 97,977
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,171,184 $ 1,160,680
[1] Amounts in parentheses indicate debits on the Consolidated Balance Sheets.