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Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and due from banks $ 19,830,000 $ 13,777,000
Interest bearing deposits with banks 14,724,000 13,362,000
Cash and cash equivalents 34,554,000 27,139,000
Investment securities available for sale, at fair value 369,739,000 284,795,000
Investment securities held to maturity, at amortized cost (fair value of $425,183 and $171,845, respectively) 432,499,000 172,277,000
Restricted stock, at cost 1,366,000 3,059,000
Loans held for sale 28,065,000 3,653,000
Loans receivable (net of allowance for loan losses of $9,155 and $8,703, respectively) 955,817,000 866,066,000
Premises and equipment, net 57,040,000 46,164,000
Other real estate owned, net 10,174,000 11,313,000
Accrued interest receivable 5,497,000 4,216,000
Goodwill 5,011,000 0
Intangible asset 61,000
Other assets 24,108,000 20,142,000
Total Assets 1,923,931,000 1,438,824,000
LIABILITIES AND SHAREHOLDERS' EQUITY    
Demand - non-interest bearing 324,912,000 243,695,000
Demand - interest bearing 605,950,000 381,499,000
Money market and savings 635,644,000 556,526,000
Time deposits 111,164,000 67,578,000
Total Deposits 1,677,670,000 1,249,298,000
Short-term borrowings 47,000,000
Accrued interest payable 444,000 245,000
Other liabilities 8,883,000 7,049,000
Subordinated debt 21,881,000 21,857,000
Total Liabilities 1,708,878,000 1,325,449,000
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: 100,000,000 shares authorized; shares issued 57,283,712 as of December 31, 2016 and 38,365,848 as of December 31, 2015; shares outstanding 56,754,867 as of December 31, 2016 and 37,837,003 as of December 31, 2015 573,000 384,000
Additional paid in capital 253,570,000 152,897,000
Accumulated deficit (27,888,000) (32,833,000)
Treasury stock at cost (503,408 shares as of December 31, 2016 and December 31, 2015) (3,725,000) (3,725,000)
Stock held by deferred compensation plan (25,437 shares as of December 31, 2016 and December 31, 2015) (183,000) (183,000)
Accumulated other comprehensive loss [1] (7,294,000) (3,165,000)
Total Shareholders’ Equity 215,053,000 113,375,000
Total Liabilities and Shareholders’ Equity $ 1,923,931,000 $ 1,438,824,000
[1] All amounts are net of tax. Amounts in parentheses indicate reductions to other comprehensive income.