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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Assets    
Cash and due from banks $ 103,914 $ 25,065
Federal funds sold 29,456 0
Interest-bearing deposits with banks 13,051 7,404
Available for sale securities 234,982 208,187
Equity securities carried at fair value through income 4,831 4,669
Non-marketable equity securities held in other financial institutions 209 209
Federal Home Loan Bank (FHLB) stock - at cost 4,691 3,447
Loans and leases receivable, net 1,604,136 1,445,109
Goodwill 10,835 10,835
Premises and equipment, net 20,972 21,662
Premises and equipment held for sale 430 430
Other real estate owned (OREO) 3,695 7,773
Accrued interest receivable 6,773 5,019
Investment in bank owned life insurance 37,619 37,180
Core deposit intangible 1,810 2,118
Net deferred tax assets 6,565 6,168
Right of use assets - operating leases 8,132 8,382
Other assets 1,655 3,879
Total Assets 2,093,756 1,797,536
Liabilities and Stockholders’ Equity    
Non-interest-bearing deposits 356,196 241,174
Interest-bearing deposits 1,314,168 1,270,663
Total deposits 1,670,364 1,511,837
Short-term borrowings 5,000 5,000
Long-term debt 67,336 40,370
Paycheck Protection Program Liquidity Facility ("PPPLF") Advance 126,801 0
Guaranteed preferred beneficial interest in junior subordinated debentures (TRUPs) 12,000 12,000
Subordinated notes - 6.25% 0 23,000
Lease liabilities - operating leases 8,296 8,495
Accrued expenses and other liabilities 14,517 15,340
Total Liabilities 1,904,314 1,616,042
Stockholders’ Equity    
Common stock - par value $0.01; authorized - 15,000,000 shares; issued 5,911,715 and 5,900,249 shares, respectively 59 59
Additional paid in capital 95,687 95,474
Retained earnings 89,781 85,059
Accumulated other comprehensive income 4,517 1,504
Unearned ESOP shares (602) (602)
Total Stockholders’ Equity 189,442 181,494
Total Liabilities and Stockholders’ Equity 2,093,756 1,797,536
U.S. SBA PPP Loans    
Assets    
Loans and leases receivable, net 125,638 0
Portfolio Loans    
Assets    
Loans and leases receivable, net $ 1,478,498 $ 1,445,109