Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 10,529 $ 15,338
Interest bearing deposits in other financial institutions 139 28,671
Federal funds sold 357 215
Total cash and cash equivalents 11,025 44,224
Certificates of deposit in other financial institutions 1,676 885
Securities available-for-sale 244,490 233,625
Loans held-for-sale 1,592 2,193
Loans receivable 620,211 583,650
Less: allowance for loan losses (7,482) (7,698)
Net loans receivable 612,729 575,952
Federal Home Loan Bank stock 3,000 3,000
Accrued interest receivable 3,262 3,086
Premises and equipment 19,559 19,287
Foreclosed real estate 1,699 2,665
Cash value of bank owned life insurance 19,355 18,895
Goodwill 2,792 2,792
Other assets 6,080 7,022
Total assets 927,259 913,626
Deposits:    
Non-interest bearing 120,556 111,800
Interest bearing 672,448 667,971
Total 793,004 779,771
Repurchase agreements 11,300 13,998
Borrowed funds 20,881 25,828
Accrued expenses and other liabilities 10,014 9,921
Total liabilities 835,199 829,518
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, 2017 - 2,920,545 December 31, 2016 - 2,916,195 shares outstanding: December 31, 2017 - 2,864,507 December 31, 2016 - 2,860,157 361 361
Additional paid-in capital 4,506 4,300
Accumulated other comprehensive income (loss) 684 (1,506)
Retained earnings 86,509 80,953
Total stockholders' equity 92,060 84,108
Total liabilities and stockholders' equity $ 927,259 $ 913,626