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Consolidated Balance Sheets
$ in Thousands
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
ASSETS    
Cash and cash equivalents $ 27,655 $ 49,167
Securities available-for-sale 171,440 135,371
Restricted securities 9,116 6,102
Loans held for sale 735 364
Loans, net of allowance for loan loss: 2015 - $8,591; 2014 - $7,981 624,956 545,219
Branch assets held for sale 16,673 0
Bank-owned life insurance 35,103 34,194
Mortgage servicing rights 2,129 2,240
Premises and equipment, net 16,852 22,626
Intangible assets, net 880 1,831
Other real estate owned, net 8,401 10,256
Deferred tax assets, net 38,180 0
Other assets 9,098 9,719
Total assets 961,218 817,089
Deposits:    
Non-interest-bearing 164,137 144,633
Interest-bearing 554,367 554,191
Total deposits 718,504 698,824
Federal funds purchased and securities sold under agreements to repurchase 18,730 26,691
Federal Home Loan Bank advances 76,000 20,000
Notes payable 0 10,250
Series B mandatory redeemable preferred stock 268 268
Subordinated debentures 20,620 20,620
Other liabilities 5,815 10,108
Total liabilities 839,937 786,761
Commitments and contingent liabilities 0 0
Common stock, $0.01 par value; 215,000,000 shares authorized; 6,581,544 shares issued at December 31, 2015; 215,000,000 shares authorized; 248,452 shares issued at December 31, 2014 66 2
Surplus 140,609 78,955
Accumulated deficit (2,958) (58,750)
Accumulated other comprehensive loss (2,946) (2,051)
Stockholders' equity before treasury stock 137,407 53,460
Treasury stock, at cost, 67,850 shares at December 31, 2015 and 97,330 at December 31, 2014 (16,126) [1] (23,132)
Total stockholders' equity 121,281 [2] 30,328
Total liabilities and stockholders' equity 961,218 817,089
Cumulative Perpetual Preferred Stock    
Deposits:    
Perpetual Preferred Stock 0 32,668
Non-Cumulative Perpetual Preferred Stock    
Deposits:    
Perpetual Preferred Stock $ 2,636 $ 2,636
[1] Share and per share amounts have been adjusted to reflect the Company's 1:30 reverse stock split effective May 29, 2015.
[2] Share and per share amounts have been adjusted to reflect the Company's 1:30 reverse stock split effective May 29, 2015.