Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.6.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 15,338 $ 9,915
Interest bearing deposits in other financial institutions 29,556 773
Federal funds sold 215 845
Total cash and cash equivalents 45,109 11,533
Securities available-for-sale 233,625 233,350
Loans held-for-sale 2,193 2,435
Loans receivable 583,650 571,898
Less: allowance for loan losses (7,698) (6,953)
Net loans receivable 575,952 564,945
Federal Home Loan Bank stock 3,000 3,000
Accrued interest receivable 3,086 3,000
Premises and equipment 19,287 18,942
Foreclosed real estate 2,665 1,590
Cash value of bank owned life insurance 18,895 18,426
Goodwill 2,792 2,561
Other assets 7,022 5,111
Total assets 913,626 864,893
Deposits:    
Non-interest bearing 111,800 100,031
Interest bearing 667,971 614,844
Total 779,771 714,875
Repurchase agreements 13,998 18,508
Borrowed funds 25,828 39,493
Accrued expenses and other liabilities 9,921 11,108
Total liabilities 829,518 783,984
Stockholders' Equity:    
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding 0 0
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued: December 31, 2016 - 2,916,195 December 31, 2015 - 2,907,455 shares outstanding: December 31, 2016 - 2,860,157 December 31, 2015 - 2,851,417 361 361
Additional paid-in capital 4,300 4,158
Accumulated other comprehensive income (loss) (1,506) 1,406
Retained earnings 80,953 74,984
Total stockholders' equity 84,108 80,909
Total liabilities and stockholders' equity $ 913,626 $ 864,893