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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and due from depository institutions $ 17,986,000 $ 15,642,000
Interest bearing deposits 3,214,000 2,755,000
Short-term investments 20,008,000 3,771,000
Cash and cash equivalents 41,208,000 22,168,000
Investment securities:    
Available for sale, at fair value 141,716,000 141,749,000
Held to maturity (fair value $45,308 on September 30, 2020 and $41,082 on December 31, 2019) 42,636,000 39,936,000
Loans held for sale 7,587,000 4,868,000
Loans 943,246,000 883,090,000
Less: Unearned income 1,466,000 384,000
Less : Allowance for loan losses 10,284,000 9,279,000
Net loans 931,496,000 873,427,000
Premises and equipment:    
Operating lease right-of-use asset 781,000 846,000
Financing lease right-of-use asset 3,024,000 3,078,000
Other premises and equipment, net 14,533,000 14,643,000
Accrued interest income receivable 5,722,000 3,449,000
Goodwill 11,944,000 11,944,000
Bank owned life insurance 39,354,000 38,916,000
Net deferred tax asset 3,216,000 3,976,000
Federal Home Loan Bank stock 4,153,000 3,985,000
Federal Reserve Bank stock 2,125,000 2,125,000
Other assets 8,636,000 6,074,000
TOTAL ASSETS 1,258,131,000 1,171,184,000
LIABILITIES    
Non-interest bearing deposits 179,922,000 136,462,000
Interest bearing deposits 862,313,000 824,051,000
Total deposits 1,042,235,000 960,513,000
Short-term borrowings 5,894,000 22,412,000
Advances from Federal Home Loan Bank 74,336,000 53,668,000
Operating lease liabilities 798,000 865,000
Financing lease liabilities 3,161,000 3,163,000
Guaranteed junior subordinated deferrable interest debentures 12,966,000 12,955,000
Subordinated debt 7,528,000 7,511,000
Total borrowed funds 104,683,000 100,574,000
Other liabilities 7,844,000 11,483,000
TOTAL LIABILITIES 1,154,762,000 1,072,570,000
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 September 30, 2020; 26,650,728 shares issued and 17,057,871 shares outstanding on December 31, 2019 267,000 267,000
Treasury stock at cost, 9,628,819 shares on September 30, 2020 and 9,592,857 shares on December 31, 2019 (83,280,000) (83,129,000)
Capital surplus 145,965,000 145,888,000
Retained earnings 54,375,000 51,759,000
Accumulated other comprehensive loss, net (13,958,000) (16,171,000)
TOTAL SHAREHOLDERS’ EQUITY 103,369,000 98,614,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,258,131,000 $ 1,171,184,000