XML 20 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Cash and due from banks $ 10,989 $ 9,223
Interest bearing deposits in other banks 60,562 84,028
Total cash and cash equivalents 71,551 93,251
Investment securities 75,813 45,127
Loans held for sale 2,831 8,858
Loans, net of allowance for loan losses of $6,214 and $5,981, respectively 813,733 597,278
Accrued interest receivable 2,216 1,542
Bank-owned life insurance 19,459 17,822
Bank premises, furniture and equipment, net 17,449 11,150
Servicing asset 21,659  
Non-marketable equity securities 4,167 4,139
Investment in unconsolidated subsidiary 93 93
Other real estate owned 493 105
Intangible assets, net of accumulated amortization of $1,490 and $1,225, respectively 2,410 1,261
Goodwill 26,865 19,148
Other assets 2,520 2,512
Total assets 1,039,600 802,286
Deposits:    
Noninterest-bearing 301,367 251,124
Interest-bearing 567,043 387,619
Total deposits 868,410 638,743
Accounts payable and accrued expenses 1,776 1,582
Accrued interest payable and other liabilities 848 575
Advances from Federal Home Loan Bank 28,444 40,000
Junior subordinated debentures 3,093 3,093
Subordinated notes 4,983 4,981
Total liabilities $ 907,554 $ 688,974
Commitments and contingencies (Note 6)
Stockholders' equity:    
Preferred stock, $0.01 par value; 10,000,000 shares authorized at September 30, 2015 and December 31, 2014; 8,000 shares Series C, issued and outstanding with a $1,000 liquidation value   $ 8,000
Common stock, $0.01 par value; 75,000,000 shares authorized at September 30, 2015 and December 31, 2014; 10,700,432 and 9,470,832 shares issued and outstanding at September 30, 2015 and December 31, 2014, (excluding 10,000 shares held in treasury) $ 107 95
Additional paid-in capital 115,721 97,469
Retained earnings 16,739 8,047
Unallocated Employee Stock Ownership Plan shares; 36,935 shares at September 30, 2015 and December 31, 2014 (309) (401)
Accumulated other comprehensive income (142) 172
Treasury stock, 10,000 shares at cost (70) (70)
Total stockholders' equity 132,046 113,312
Total liabilities and stockholders' equity $ 1,039,600 $ 802,286