Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and non-interest bearing balances in financial institutions $ 9,875 $ 7,427
Interest bearing deposits in other financial institutions 10,676 90
Federal funds sold 5,816 3,421
Total cash and cash equivalents 26,367 10,938
Securities available-for-sale 186,962 142,055
Securities held-to-maturity 0 18,397
Loans held-for-sale 0 422
Loans receivable 401,401 418,233
Less: allowance for loan losses (8,005) (9,121)
Net loans receivable 393,396 409,112
Federal Home Loan Bank stock 3,086 3,381
Accrued interest receivable 2,554 2,591
Premises and equipment 18,242 19,293
Foreclosed real estate 2,457 3,298
Cash value of bank owned life insurance 12,850 12,452
Prepaid FDIC insurance premium 1,523 2,425
Other assets 4,321 6,689
Total assets 651,758 631,053
LIABILITIES AND STOCKHOLDERS' EQUITY    
Non-interest bearing 55,577 50,712
Interest bearing 471,304 469,559
Total 526,881 520,271
Repurchase agreements 15,395 16,074
Borrowed funds 36,618 32,544
Accrued expenses and other liabilities 9,904 6,075
Total liabilities 588,798 574,964
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, 2011 - 2,888,902 December 31, 2010 - 2,888,902 shares outstanding: December 31, 2011 - 2,835,403 December 31, 2010 - 2,826,796 361 361
Additional paid-in capital 5,173 5,140
Accumulated other comprehensive income/(loss) 2,536 (492)
Retained earnings 56,032 52,398
Treasury stock, common shares at cost: December 31, 2011 - 53,499 December 31, 2010 - 62,106 (1,142) (1,318)
Total stockholders' equity 62,960 56,089
Total liabilities and stockholders' equity $ 651,758 $ 631,053