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CONSOLIDATED BALANCE SHEETS (Unaudited) - Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
ASSETS    
Cash and due from banks $ 13,004 $ 14,891
Interest bearing demand deposits with other banks 29,634 47,227
Total cash and cash equivalents 42,638 62,118
Securities    
Available-for-sale at fair value 76,801 76,694
Federal Home Loan Bank of Boston stock at cost 2,937 3,176
Loans held-for-sale 837 763
Loans receivable, net (allowance for loan losses: $5,892 and $5,716) 753,623 699,018
Other real estate owned 2,823
Bank premises and equipment, net 14,573 14,307
Goodwill 12,552 12,552
Intangible assets (net of accumulated amortization: $3,364 and $2,909) 1,883 2,338
Accrued interest receivable 2,260 2,307
Cash surrender value of life insurance policies 13,952 13,685
Deferred taxes 2,114 1,989
Other assets 1,452 2,245
Total Assets 928,445 891,192
Deposits    
Demand (non-interest bearing) 210,396 201,340
Demand (interest bearing) 126,064 125,465
Money market 201,504 183,783
Savings and other 127,595 119,651
Certificates of deposit 121,171 124,294
Total deposits 786,730 754,533
Repurchase agreements 3,581 3,914
Federal Home Loan Bank of Boston advances 27,134 26,979
Subordinated debt [1] 9,782 9,764
Note payable 351 376
Capital lease liability 419 422
Accrued interest and other liabilities 6,894 4,630
Total Liabilities 834,891 800,618
Shareholders' Equity    
Common stock - $.10 per share par value; Authorized: 5,000,000; Outstanding: 2,758,086 and 2,733,576 276 273
Paid-in capital 42,053 41,364
Retained earnings 50,773 47,922
Unearned compensation - restricted stock awards (431) (110)
Accumulated other comprehensive income 883 1,125
Total Shareholders' Equity 93,554 90,574
Total Liabilities and Shareholders' Equity $ 928,445 $ 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.