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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Mar. 31, 2017
Assets      
Cash and cash equivalents $ 16,559 $ 19,207 $ 17,600
Interest bearing deposits in other banks 280 860 3,272
Securities available for sale 303,769 300,172 312,624
Securities to be held to maturity (fair value of $255,851,000 at March 31, 2018, $259,655,000 at December 31, 2017 and $239,378,000 at March 31, 2017) 258,690 256,567 240,829
Restricted equity securities, at cost 11,947 10,358 13,363
Loans held for sale 284 386 979
Loans 1,188,002 1,164,139 1,089,735
Less allowance for loan losses 10,957 10,729 10,367
Net loans 1,177,045 1,153,410 1,079,368
Accrued interest receivable 7,222 5,867 6,854
Premises and equipment, net 22,043 22,502 21,760
Other real estate owned 1,121 1,012 525
Goodwill 29,805 29,805 29,805
Other assets 43,050 42,784 36,849
Total assets 1,871,815 1,842,930 1,763,828
Liabilities      
Demand deposits 137,674 145,332 130,319
NOW deposits 314,587 318,043 323,919
Money market deposits 108,726 163,898 142,220
Savings deposits 232,458 232,605 222,976
Certificates of deposit 634,747 559,001 527,049
Total deposits 1,428,192 1,418,879 1,346,483
Borrowed funds – short term 129,112 113,638 106,342
Borrowed funds – long term 115,117 115,120 120,125
Other liabilities 18,022 13,972 16,025
Total liabilities 1,690,443 1,661,609 1,588,975
Shareholders' equity      
Common stock, one cent par value per share 108 108 108
Additional paid-in capital 61,999 61,747 60,991
Retained earnings 123,876 121,144 113,697
Accumulated other comprehensive income (loss)      
Net unrealized loss on securities available for sale (6,210) (2,901) (934)
Net unrealized loss on securities transferred from available for sale to held to maturity (182) (174) (133)
Net unrealized gain on cash flow hedging derivative instruments 1,928 1,544 1,226
Net unrealized loss on postretirement benefit costs (147) (147) (102)
Total shareholders' equity 181,372 181,321 174,853
Total liabilities & shareholders' equity $ 1,871,815 $ 1,842,930 $ 1,763,828
Common Stock      
Number of shares authorized (in shares) 18,000,000 18,000,000 18,000,000
Number of shares issued (in shares) 10,846,562 10,829,918 10,814,132
Number of shares outstanding (in shares) 10,846,562 10,829,918 10,814,132
Book value per common share (usd per share) $ 16.72 $ 16.74 $ 16.17
Tangible book value per common share (usd per share) $ 13.95 $ 13.97 $ 13.39