Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 13,260 $ 10,529
Interest bearing deposits in other financial institutions 3,116 139
Federal funds sold 763 357
Total cash and cash equivalents 17,139 11,025
Certificates of deposit in other financial institutions 2,024 1,676
Securities available-for-sale 241,768 244,490
Loans held-for-sale 2,863 1,592
Loans receivable 764,400 620,211
Less: allowance for loan losses (7,962) (7,482)
Net loans receivable 756,438 612,729
Federal Home Loan Bank stock 3,460 3,000
Accrued interest receivable 3,632 3,262
Premises and equipment 24,824 19,559
Foreclosed real estate 1,627 1,699
Cash value of bank owned life insurance 23,142 19,355
Goodwill 8,170 2,792
Other assets 11,071 6,080
Total assets 1,096,158 927,259
Deposits:    
Non-interest bearing 127,277 120,556
Interest bearing 802,509 672,448
Total 929,786 793,004
Repurchase agreements 11,628 11,300
Borrowed funds 43,000 20,881
Accrued expenses and other liabilities 10,280 10,014
Total liabilities 994,694 835,199
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 and outstanding: December 31, 2018 - 3,029,157 December 31, 2017 - 2,864,507
Additional paid-in capital 11,927 4,867
Accumulated other comprehensive (loss) income (2,796) 684
Retained earnings 92,333 86,509
Total stockholders' equity 101,464 92,060
Total liabilities and stockholders' equity $ 1,096,158 $ 927,259