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CONSOLIDATED BALANCE SHEETS (Unaudited) - Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
ASSETS    
Cash and due from banks $ 10,961 $ 14,891
Interest bearing demand deposits with other banks 20,537 47,227
Total cash and cash equivalents 31,498 62,118
Securities    
Available-for-sale at fair value 80,438 76,694
Federal Home Loan Bank of Boston stock at cost 3,436 3,176
Loans held-for-sale 763
Loans receivable, net (allowance for loan losses: $5,718 and $5,716) 749,523 699,018
Bank premises and equipment, net 14,507 14,307
Goodwill 12,552 12,552
Intangible assets (net of accumulated amortization: $3,216 and $2,909) 2,031 2,338
Accrued interest receivable 2,217 2,307
Cash surrender value of life insurance policies 13,862 13,685
Deferred taxes 1,998 1,989
Other assets 1,432 2,245
Total Assets 913,494 891,192
Deposits    
Demand (non-interest bearing) 189,182 201,340
Demand (interest bearing) 120,142 125,465
Money market 197,869 183,783
Savings and other 124,019 119,651
Certificates of deposit 123,259 124,294
Total deposits 754,471 754,533
Repurchase agreements 3,355 3,914
Federal Home Loan Bank of Boston advances 47,083 26,979
Subordinated debt [1] 9,776 9,764
Note payable 358 376
Capital lease liability 420 422
Accrued interest and other liabilities 5,447 4,630
Total Liabilities 820,910 800,618
Shareholders' Equity    
Common stock - $.10 per share par value; Authorized: 5,000,000; Issued: 2,758,186 and 2,733,576 276 273
Paid-in capital 42,056 41,364
Retained earnings 49,627 47,922
Unearned compensation - restricted stock awards (483) (110)
Accumulated other comprehensive income 1,108 1,125
Total Shareholders' Equity 92,584 90,574
Total Liabilities and Shareholders' Equity $ 913,494 $ 891,192
[1] (1) Net of issuance costs, which are capitalized and amortized as a component of interest expense over a period of 10 years.