XML 102 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
ASSETS    
Cash and due from banks $ 14,417us-gaap_CashAndDueFromBanks $ 20,151us-gaap_CashAndDueFromBanks
Interest-earning deposits in other banks 22,810us-gaap_InterestBearingDepositsInBanks 49,690us-gaap_InterestBearingDepositsInBanks
Certificates of deposit 1,000us-gaap_CertificatesOfDepositAtCarryingValue 0us-gaap_CertificatesOfDepositAtCarryingValue
Federal funds sold and repurchase agreements 20,183us-gaap_FederalFundsSold 3,028us-gaap_FederalFundsSold
Investment securities available for sale, at fair value 102,235us-gaap_AvailableForSaleSecurities 83,836us-gaap_AvailableForSaleSecurities
Loans 552,038us-gaap_LoansAndLeasesReceivableGrossCarryingAmount 346,500us-gaap_LoansAndLeasesReceivableGrossCarryingAmount
Allowance for loan losses (6,844)us-gaap_LoansAndLeasesReceivableAllowance (7,054)us-gaap_LoansAndLeasesReceivableAllowance
NET LOANS 545,194us-gaap_LoansAndLeasesReceivableNetReportedAmount 339,446us-gaap_LoansAndLeasesReceivableNetReportedAmount
Accrued interest receivable 2,416us-gaap_InterestReceivable 1,650us-gaap_InterestReceivable
Stock in Federal Home Loan Bank of Atlanta (“FHLB”), at cost 1,524us-gaap_FederalHomeLoanBankStock 796us-gaap_FederalHomeLoanBankStock
Other non-marketable securities 896slct_OtherNonMarketableSecurities 1,055slct_OtherNonMarketableSecurities
Foreclosed real estate 1,585us-gaap_RealEstateAcquiredThroughForeclosure 2,008us-gaap_RealEstateAcquiredThroughForeclosure
Premises and equipment, net 17,599us-gaap_PropertyPlantAndEquipmentNet 10,900us-gaap_PropertyPlantAndEquipmentNet
Bank owned life insurance 20,966us-gaap_BankOwnedLifeInsurance 8,463us-gaap_BankOwnedLifeInsurance
Goodwill 7,077us-gaap_Goodwill 0us-gaap_Goodwill
Core deposit intangible 1,625us-gaap_FiniteLivedIntangibleAssetsNet 182us-gaap_FiniteLivedIntangibleAssetsNet
Other assets 6,594us-gaap_OtherAssets 4,441us-gaap_OtherAssets
TOTAL ASSETS 766,121us-gaap_Assets 525,646us-gaap_Assets
Deposits:    
Demand 129,831us-gaap_DemandDepositAccounts 85,347us-gaap_DemandDepositAccounts
Savings 37,000us-gaap_DepositsSavingsDeposits 16,597us-gaap_DepositsSavingsDeposits
Money market and NOW 166,511us-gaap_DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW 124,635us-gaap_DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW
Time 285,560us-gaap_TimeDeposits 221,879us-gaap_TimeDeposits
TOTAL DEPOSITS 618,902us-gaap_Deposits 448,458us-gaap_Deposits
Short-term debt 20,733us-gaap_ShortTermBorrowings 6,305us-gaap_ShortTermBorrowings
Long-term debt 25,591us-gaap_LongTermDebt 12,372us-gaap_LongTermDebt
Accrued interest payable 276us-gaap_InterestPayableCurrentAndNoncurrent 225us-gaap_InterestPayableCurrentAndNoncurrent
Accrued expenses and other liabilities 2,934us-gaap_AccountsPayableAndOtherAccruedLiabilities 2,282us-gaap_AccountsPayableAndOtherAccruedLiabilities
TOTAL LIABILITIES 668,436us-gaap_Liabilities 469,642us-gaap_Liabilities
Shareholders’ Equity    
Preferred stock, no par value, 5,000,000 shares authorized; 7,645 and 0 shares outstanding December 31, 2014 and 2013, respectively 7,645us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock, $1 par value, 25,000,000 shares authorized; 11,377,980 and 6,921,352 shares issued and outstanding at December 31, 2014 and 2013, respectively 11,378us-gaap_CommonStockValue 6,922us-gaap_CommonStockValue
Additional paid-in capital 68,406us-gaap_AdditionalPaidInCapital 42,062us-gaap_AdditionalPaidInCapital
Retained earnings 9,447us-gaap_RetainedEarningsAccumulatedDeficit 7,128us-gaap_RetainedEarningsAccumulatedDeficit
Common stock issued to deferred compensation trust, at cost 259,551 and 239,769 shares at December 31, 2014 and 2013, respectively (2,121)us-gaap_TreasuryStockDeferredEmployeeStockOwnershipPlan (1,976)us-gaap_TreasuryStockDeferredEmployeeStockOwnershipPlan
Directors’ Deferred Compensation Plan Rabbi Trust 2,121us-gaap_DeferredCompensationEquity 1,976us-gaap_DeferredCompensationEquity
Accumulated other comprehensive income (loss) 809us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (108)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
TOTAL SHAREHOLDERS’ EQUITY 97,685us-gaap_StockholdersEquity 56,004us-gaap_StockholdersEquity
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 766,121us-gaap_LiabilitiesAndStockholdersEquity $ 525,646us-gaap_LiabilitiesAndStockholdersEquity