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CONSOLIDATED BALANCE SHEETS (Unaudited) - Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
ASSETS    
Cash and due from banks $ 13,203 $ 13,280
Interest bearing demand deposits with other banks 37,217 22,825
Total cash and cash equivalents 50,420 36,105
Securities    
Available-for-sale at fair value 79,417 91,312
Federal Home Loan Bank of Boston stock at cost 3,515 3,515
Loans held-for-sale 300 568
Loans receivable, net (allowance for loan losses: $5,059 and $5,358) 677,726 673,330
Other real estate owned 268 1,002
Bank premises and equipment, net 14,020 14,431
Goodwill 12,552 12,552
Intangible assets (net of accumulated amortization: $2,591 and $2,258) 2,657 2,990
Accrued interest receivable 2,292 2,334
Cash surrender value of life insurance policies 13,499 13,314
Deferred taxes 2,834 2,428
Other assets 1,294 1,546
Total Assets 860,794 855,427
Deposits    
Demand (non-interest bearing) 171,022 161,386
Demand (interest bearing) 118,293 117,169
Money market 173,488 174,274
Savings and other 123,697 121,387
Certificates of deposit 134,234 141,210
Total deposits 720,734 715,426
Repurchase agreements 2,771 4,163
Federal Home Loan Bank of Boston advances 28,033 28,813
Capital lease liability 423 424
Accrued interest and other liabilities 4,729 4,780
Total Liabilities 756,690 753,606
Shareholders' Equity    
Preferred stock - $.01 per share par value; Authorized: 25,000; Issued: 16,000 (Series B); Liquidation preference: $1,000 per share 16,000 16,000
Common stock - $.10 per share par value; Authorized: 5,000,000; Issued: 2,731,176 and 2,720,766 273 272
Paid-in capital 41,312 41,077
Retained earnings 45,378 42,677
Unearned compensation - restricted stock awards (229) (313)
Accumulated other comprehensive income 1,370 2,108
Total Shareholders' Equity 104,104 101,821
Total Liabilities and Shareholders' Equity $ 860,794 $ 855,427