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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
ASSETS    
Cash and due from banks $ 14,212 $ 14,822
Interest bearing deposits with banks 96,307 114,004
Cash and cash equivalents 110,519 128,826
Investment securities available for sale, at fair value 209,119 185,379
Investment securities held to maturity, at amortized cost (fair value of $141,519 and $68,253, respectively) 140,116 67,866
Restricted stock, at cost 1,179 1,157
Loans held for sale 489 1,676
Loans receivable (net of allowance for loan losses of $8,323 and $11,536, respectively) 837,037 770,404
Premises and equipment, net 45,094 35,030
Other real estate owned, net 13,773 3,715
Accrued interest receivable 3,548 3,226
Other assets 19,940 17,319
Total Assets 1,380,814 1,214,598
Deposits    
Demand – non-interest bearing 243,836 224,245
Demand – interest bearing 391,230 283,768
Money market and savings 527,360 488,848
Time deposits 75,070 75,369
Total Deposits 1,237,496 1,072,230
Accrued interest payable 283 265
Other liabilities 6,086 6,816
Subordinated debt 22,476 22,476
Total Liabilities 1,266,341 1,101,787
Shareholders’ Equity    
Preferred stock, par value $0.01 per share: 10,000,000 shares authorized; no shares issued 0 0
Common stock, par value $0.01 per share: 50,000,000 shares authorized; shares issued 38,344,848 as of September 30, 2015 and 38,344,348 as of December 31, 2014 383 383
Additional paid in capital 152,676 152,234
Accumulated deficit (33,623) (35,266)
Treasury stock at cost (503,408 shares) (3,725) (3,725)
Stock held by deferred compensation plan (25,437 shares) (183) (183)
Accumulated other comprehensive loss (1,055) (632)
Total Shareholders’ Equity 114,473 112,811
Total Liabilities and Shareholders’ Equity $ 1,380,814 $ 1,214,598