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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and due from depository institutions $ 16,521 $ 15,642
Interest bearing deposits 2,779 2,755
Short-term investments 27,440 3,771
Total cash and cash equivalents 46,740 22,168
Investment securities:    
Available for sale, at fair value 143,359 141,749
Held to maturity (fair value $43,989 on June 30, 2020 and $41,082 on December 31, 2019) 41,549 39,936
Loans held for sale 8,189 4,868
Loans 921,730 883,090
Less: Unearned income 1,569 384
Allowance for loan losses 9,699 9,279
Net loans 910,462 873,427
Premises and equipment:    
Operating lease right-of-use asset 803 846
Financing lease right-of-use asset 3,006 3,078
Other premises and equipment, net 14,572 14,643
Accrued interest income receivable 4,647 3,449
Goodwill 11,944 11,944
Bank owned life insurance 39,193 38,916
Net deferred tax asset 3,151 3,976
Federal Home Loan Bank stock 3,818 3,985
Federal Reserve Bank stock 2,125 2,125
Other assets 8,516 6,074
TOTAL ASSETS 1,242,074 1,171,184
LIABILITIES    
Non-interest bearing deposits 189,013 136,462
Interest bearing deposits 844,020 824,051
Total deposits 1,033,033 960,513
Short-term borrowings 7,558 22,412
Advances from Federal Home Loan Bank 62,336 53,668
Operating lease liabilities 821 865
Financing lease liabilities 3,126 3,163
Guaranteed junior subordinated deferrable interest debentures, net 12,962 12,955
Subordinated debt, net 7,522 7,511
Total borrowed funds 94,325 100,574
Other liabilities 12,112 11,483
TOTAL LIABILITIES 1,139,470 1,072,570
SHAREHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,687,463 shares issued and 17,058,644 shares outstanding on June 30, 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 June 30, 2020 and 9,592,857 shares on December 31, 2019 (83,280) (83,129)
Capital surplus 145,965 145,888
Retained earnings 53,723 51,759
Accumulated other comprehensive loss, net (14,071) (16,171)
TOTAL SHAREHOLDERS' EQUITY 102,604 98,614
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,242,074 $ 1,171,184