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Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS:    
Cash and due from banks $ 22,792 $ 19,579
Federal funds sold 117,818 94,763
Total cash and cash equivalents 140,610 114,342
Investment securities, available for sale 34,344 28,555
Loans, net of allowance for losses of $11,565 and $11,075 at March 31, 2020 and December 31, 2019, respectively 960,282 941,132
Premises and equipment, net 3,427 3,668
Bank owned life insurance (BOLI) 23,284 22,316
Goodwill and other intangible assets 7,585 7,595
Accrued interest receivable and other assets 37,950 34,426
Total assets 1,207,482 1,152,034
Deposits    
Non-interest bearing 403,248 387,267
Interest bearing 625,613 600,969
Total deposits 1,028,861 988,236
Other borrowings 22,000 10,000
Junior Subordinated debt securities 4,981 4,977
Accrued interest payable and other liabilities 20,447 18,565
Total liabilities 1,076,289 1,021,778
Commitments and Contingencies (Note 5)
Shareholders' equity    
Common stock, no par value; 40,000,000 shares authorized; 8,121,848 and 8,092,966 issued and outstanding at March 31, 2020 and December 31, 2019, respectively 106,790 106,427
Retained earnings 23,991 23,518
Accumulated other comprehensive income, net of taxes 412 311
Total shareholders' equity 131,193 130,256
Total liabilities and shareholders' equity $ 1,207,482 $ 1,152,034