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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Cash and due from depository institutions $ 17,675 $ 15,642
Interest bearing deposits 2,890 2,755
Short-term investments in money market funds 3,541 3,771
Total cash and cash equivalents 24,106 22,168
Investment securities:    
Available for sale, at fair value 142,716 141,749
Held to maturity (fair value $44,236 on March 31, 2020 and $41,082 on December 31, 2019) 42,068 39,936
Loans held for sale 4,750 4,868
Loans 873,055 883,090
Less: Unearned income 406 384
Allowance for loan losses 9,334 9,279
Net loans 863,315 873,427
Premises and equipment:    
Operating lease right-of-use asset 825 846
Financing lease right-of-use asset 3,074 3,078
Other premises and equipment, net 14,660 14,643
Accrued interest income receivable 3,759 3,449
Goodwill 11,944 11,944
Bank owned life insurance 39,041 38,916
Net deferred tax asset 3,705 3,976
Federal Home Loan Bank stock 3,988 3,985
Federal Reserve Bank stock 2,125 2,125
Other assets 8,279 6,074
TOTAL ASSETS 1,168,355 1,171,184
LIABILITIES    
Non-interest bearing deposits 145,630 136,462
Interest bearing deposits 811,963 824,051
Total deposits 957,593 960,513
Short-term borrowings 16,354 22,412
Advances from Federal Home Loan Bank 58,218 53,668
Operating lease liabilities 842 865
Financing lease liabilities 3,177 3,163
Guaranteed junior subordinated deferrable interest debentures, net 12,959 12,955
Subordinated debt, net 7,517 7,511
Total borrowed funds 99,067 100,574
Other liabilities 10,855 11,483
TOTAL LIABILITIES 1,067,515 1,072,570
SHAREHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,672,463 shares issued and 17,043,644 shares outstanding on March 31, 2020; 26,650,728 shares issued and 17,057,871 shares outstanding on December 31, 2019 267 267
Treasury stock at cost, 9,628,819 shares on March 31, 2020 and 9,592,857 shares on December 31, 2019 (83,280) (83,129)
Capital surplus 145,938 145,888
Retained earnings 52,745 51,759
Accumulated other comprehensive loss, net (14,830) (16,171)
TOTAL SHAREHOLDERS' EQUITY 100,840 98,614
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,168,355 $ 1,171,184