Consolidated Balance Sheets - USD ($)
$ in Thousands |
Dec. 31, 2016 |
Dec. 31, 2015 |
| Cash and cash equivalents: |
|
|
| Cash and due from banks |
$ 14,846
|
$ 14,302
|
| Interest bearing balances with banks |
2,494
|
14,831
|
| Total cash and cash equivalents |
17,340
|
29,133
|
| Certificates of deposit with other banks |
14,527
|
13,150
|
| Investment Securities: |
|
|
| Securities available-for-sale |
162,368
|
70,256
|
| Securities held-to-maturity (fair value of $0 for 2016 and $54,470 for 2015) |
0
|
52,859
|
| Loans held for sale |
90,174
|
102,623
|
| Loans: |
1,052,865
|
1,032,170
|
| Less: Allowance for loan losses |
(9,101)
|
(8,006)
|
| Net Loans |
1,043,764
|
1,024,164
|
| Premises and equipment |
25,081
|
26,275
|
| Bank owned life insurance |
22,970
|
22,332
|
| Accrued interest receivable and other assets |
24,100
|
25,204
|
| Goodwill |
18,480
|
18,480
|
| TOTAL ASSETS |
1,418,804
|
1,384,476
|
| Deposits: |
|
|
| Noninterest bearing |
115,692
|
80,423
|
| Interest bearing |
991,325
|
931,891
|
| Total deposits |
1,107,017
|
1,012,314
|
| Accrued interest payable and other liabilities |
16,557
|
13,291
|
| Repurchase agreements |
25,160
|
27,437
|
| FHLB and other borrowings |
90,921
|
183,198
|
| Subordinated debt |
33,524
|
33,524
|
| Total liabilities |
1,273,179
|
1,269,764
|
| STOCKHOLDERS’ EQUITY |
|
|
| Preferred stock, par value $1,000; 20,000 authorized and 9,283 issued in 2016 and 2015, respectively (See Footnote 12) |
16,334
|
16,334
|
| Common stock, par value $1; 20,000,000 shares authorized; 10,047,621 and 8,112,998 issued; and 9,996,544 and 8,061,921 outstanding in 2016 and 2015, respectively |
10,048
|
8,113
|
| Additional paid-in capital |
93,412
|
74,228
|
| Retained earnings |
31,192
|
20,054
|
| Accumulated other comprehensive loss |
(4,277)
|
(2,933)
|
| Treasury Stock, 51,077 shares, at cost |
(1,084)
|
(1,084)
|
| Total stockholders’ equity |
145,625
|
114,712
|
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ 1,418,804
|
$ 1,384,476
|