|
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| ASSETS |
|
|
| Cash and due from banks (Note 3) |
$ 37,449 |
$ 34,323 |
| Federal funds sold and interest bearing deposits in banks |
19,170 |
6,324 |
| Cash and cash equivalents |
56,619 |
40,647 |
| Securities available for sale, at fair value (Note 5) |
228,788 |
226,012 |
| Restricted stock |
5,741 |
5,741 |
| Loans held for sale |
1,207 |
3,448 |
| Loans: |
|
|
| Portfolio loans (Note 6) |
867,459 |
843,088 |
| Allowance for loan losses (Note 6) |
(17,300) |
(17,063) |
| Net loans |
850,159 |
826,025 |
| Bank premises and equipment, net |
9,308 |
8,968 |
| Other real estate owned |
1,506 |
1,687 |
| Bank owned life insurance |
18,202 |
17,868 |
| Goodwill, net (Note 4) |
21,582 |
21,582 |
| Intangible assets, net (Note 4) |
664 |
731 |
| Accrued interest receivable |
3,604 |
3,550 |
| Other assets |
10,565 |
12,163 |
| Total Assets |
1,207,945 |
1,168,422 |
| Deposits: (Note 7) |
|
|
| Demand and other noninterest-bearing |
143,778 |
126,713 |
| Savings, money market and interest-bearing demand |
383,685 |
359,977 |
| Time deposits |
496,090 |
504,390 |
| Total deposits |
1,023,553 |
991,080 |
| Short-term borrowings (Note 8) |
827 |
227 |
| Federal Home Loan Bank advances (Note 9) |
47,495 |
42,497 |
| Junior subordinated debentures (Note 10) |
16,238 |
16,238 |
| Accrued interest payable |
1,007 |
1,118 |
| Accrued expenses and other liabilities |
3,288 |
3,988 |
| Total Liabilities |
1,092,408 |
1,055,148 |
| Shareholders' Equity |
|
|
| Discount on Series B preferred stock |
(94) |
(101) |
| Warrant to purchase common stock |
146 |
146 |
| Common stock, par value $1 per share, authorized 15,000,000 shares, issued 8,272,548 shares at June 30, 2012 and 8,210,443 at December 31, 2011. |
8,272 |
8,210 |
| Additional paid-in capital |
39,689 |
39,607 |
| Retained earnings |
46,227 |
44,080 |
| Accumulated other comprehensive income |
2,166 |
2,201 |
| Treasury shares at cost, 328,194 shares at June 30, 2012 and at December 31,2011 |
(6,092) |
(6,092) |
| Total Shareholders' Equity |
115,537 |
113,274 |
| Total Liabilities and Shareholders' Equity |
1,207,945 |
1,168,422 |
|
Preferred Stock [Member]
|
|
|
| Shareholders' Equity |
|
|
| Preferred stock |
|
|
|
Series A Preferred Stock
|
|
|
| Shareholders' Equity |
|
|
| Preferred stock |
|
|
|
Series B Preferred Stock
|
|
|
| Shareholders' Equity |
|
|
| Preferred stock |
$ 25,223 |
$ 25,223 |