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 due from banks $ 34,945 $ 27,690
Federal funds sold and other short -term investments 126,522 62,129
Cash and cash equivalents 161,467 89,819
Securities available for sale, at fair value 220,720 184,433
Securities held to maturity (fair value 2017 - $86,452 and 2016 - $69,849) 85,827 69,378
Federal Home Loan Bank (FHLB) stock 11,558 11,558
Loans held for sale, at fair value 1,208 2,181
Total loans 1,320,309 1,280,812
Allowance for loan losses (16,600) (16,962)
Net loans 1,303,709 1,263,850
Premises and equipment - net 46,629 50,026
Accrued interest receivable 4,680 4,092
Bank-owned life insurance 40,243 39,274
Other real estate owned - net 5,767 12,253
Net deferred tax asset 3,785 8,863
Other assets 4,639 5,286
Total assets 1,890,232 1,741,013
Deposits    
Noninterest-bearing 490,583 501,478
Interest-bearing 1,088,427 947,246
Total deposits 1,579,010 1,448,724
Other borrowed funds 92,118 84,173
Long-term debt 41,238 41,238
Accrued expenses and other liabilities 4,880 4,639
Total liabilities 1,717,246 1,578,774
Commitments and contingent liabilities
Shareholders' equity    
Common stock, no par value, 200,000,000 shares authorized; 33,972,977 and 33,940,788 shares issued and outstanding at December 31, 2017 and December 31, 2016 217,081 216,731
Retained deficit (42,804) (53,008)
Accumulated other comprehensive income (loss) (1,291) (1,484)
Total shareholders' equity 172,986 162,239
Total liabilities and shareholders' equity $ 1,890,232 $ 1,741,013