XML 13 R2.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Assets    
Cash and cash equivalents $ 38,557,000 $ 18,473,000
Investment securities    
Available for sale, at fair value (amortized cost $153,765 and $172,290, respectively) 153,053,000 168,163,000
Held to maturity, at amortized cost (fair value $291,993 and $281,310, respectively) 286,350,000 282,869,000
Total investment securities 439,403,000 451,032,000
Loans held for sale, at lower of cost or fair value 384,000  
Loans    
Residential mortgage 938,559,000 604,331,000
Commercial mortgage 905,442,000 757,957,000
Home equity 85,814,000 69,336,000
Commercial & Industrial 134,307,000 93,712,000
Consumer 32,428,000 34,436,000
Total loans 2,096,550,000 1,559,772,000
Less: allowance for loan losses (17,099,000) (16,768,000)
Net loans 2,079,451,000 1,543,004,000
Federal Home Loan Bank of Boston Stock, at cost 8,245,000 6,844,000
Bank owned life insurance 36,996,000 30,933,000
Banking premises and equipment, net 14,863,000 8,578,000
Deferred income taxes, net 7,267,000 8,717,000
Accrued interest receivable 7,485,000 5,762,000
Goodwill 31,206,000 412,000
Merger related intangibles 3,519,000  
Other assets 73,932,000 27,629,000
Total assets 2,741,308,000 2,101,384,000
Deposits    
Demand 587,030,000 494,492,000
Interest bearing checking 422,426,000 431,702,000
Money market 200,935,000 135,585,000
Savings 853,356,000 628,212,000
Certificates of deposit 265,918,000 121,419,000
Total deposits 2,329,665,000 1,811,410,000
Short-term borrowings 103,000,000 90,000,000
Long-term borrowings 3,323,000 3,409,000
Other liabilities 68,226,000 29,539,000
Total liabilities 2,504,214,000 1,934,358,000
Shareholders’ Equity    
Common stock, par value $1.00; Authorized 10,000,000 shares; Outstanding: 4,850,230 shares and 4,107,051 shares, respectively 4,850,000 4,107,000
Additional paid-in capital 97,844,000 38,271,000
Retained earnings 137,036,000 131,135,000
Accumulated other comprehensive loss (2,636,000) (6,487,000)
Total shareholders’ equity 237,094,000 167,026,000
Total liabilities and shareholders’ equity $ 2,741,308,000 $ 2,101,384,000