Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and non-interest bearing deposits in other financial institutions $ 9,800 $ 10,529
Interest bearing deposits in other financial institutions 10,361 139
Federal funds sold 254 357
Total cash and cash equivalents 20,415 11,025
Certificates of deposit in other financial institutions 1,526 1,676
Securities available-for-sale 241,471 244,490
Loans held-for-sale 1,908 1,592
Loans receivable 624,662 620,211
Less: allowance for loan losses (7,097) (7,482)
Net loans receivable 617,565 612,729
Federal Home Loan Bank stock 3,000 3,000
Accrued interest receivable 3,052 3,262
Premises and equipment 19,436 19,559
Foreclosed real estate 1,432 1,699
Cash value of bank owned life insurance 19,462 19,355
Goodwill 2,792 2,792
Other assets 6,449 6,080
Total assets 938,508 927,259
Deposits:    
Non-interest bearing 126,582 120,556
Interest bearing 668,791 672,448
Total 795,373 793,004
Repurchase agreements 13,396 11,300
Borrowed funds 30,360 20,881
Accrued expenses and other liabilities 9,571 10,014
Total liabilities 848,700 835,199
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: March 31, 2018 - 2,924,978 December 31, 2017 - 2,920,545 shares outstanding: March 31, 2018 - 2,868,940 December 31, 2017 - 2,864,507 361 361
Additional paid-in capital 4,558 4,506
Accumulated other comprehensive income/(loss) (3,348) 684
Retained earnings 88,237 86,509
Total stockholders' equity 89,808 92,060
Total liabilities and stockholders' equity $ 938,508 $ 927,259