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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and due from banks $ 18,000 $ 13,777
Interest bearing deposits with banks 47,198 13,362
Cash and cash equivalents 65,198 27,139
Investment securities available for sale, at fair value 260,269 284,795
Investment securities held to maturity, at amortized cost (fair value of $181,306 and $171,845, respectively) 178,628 172,277
Restricted stock, at cost 1,179 3,059
Loans held for sale 1,983 3,653
Loans receivable (net of allowance for loan losses of $9,029 and $8,703, respectively) 890,088 866,066
Premises and equipment, net 49,586 46,164
Other real estate owned, net 11,393 11,313
Accrued interest receivable 4,434 4,216
Other assets 19,915 20,761
Total Assets 1,482,673 1,439,443
Deposits    
Demand – non-interest bearing 263,990 243,695
Demand – interest bearing 426,346 381,499
Money market and savings 586,863 556,526
Time deposits 60,408 67,578
Total Deposits 1,337,607 1,249,298
Short-term borrowings   47,000
Accrued interest payable 219 245
Other liabilities 5,769 7,049
Subordinated debt 22,476 22,476
Total Liabilities 1,366,071 1,326,068
Shareholders’ Equity    
Preferred stock, par value $0.01 per share: 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, par value $0.01 per share: 50,000,000 shares authorized; shares issued 38,366,098 as of March 31, 2016 and 38,365,848 as of December 31, 2015; shares outstanding 37,837,253 as of March 31, 2016 and 37,837,003 as of December 31, 2015 384 384
Additional paid in capital 153,069 152,897
Accumulated deficit (31,748) (32,833)
Treasury stock at cost (503,408 shares as of March 31, 2016 and December 31, 2015) (3,725) (3,725)
Stock held by deferred compensation plan (25,437 shares as of March 31, 2016 and December 31, 2015) (183) (183)
Accumulated other comprehensive loss [1] (1,195) (3,165)
Total Shareholders’ Equity 116,602 113,375
Total Liabilities and Shareholders’ Equity $ 1,482,673 $ 1,439,443
[1] All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income.