Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Cash and due from banks $ 29,104 $ 31,503
Federal funds sold and other short -term investments 152,372 97,952
Cash and cash equivalents 181,476 129,455
Interest-bearing time deposits in other financial institutions 20,000 20,000
Securities available for sale, at fair value 166,815 161,874
Securities held to maturity (fair value 2015 - $52,837 and 2014 - $31,428) 51,856 31,585
Federal Home Loan Bank (FHLB) stock 11,558 11,238
Loans held for sale, at fair value 2,776 2,347
Total loans 1,197,932 1,118,483
Allowance for loan losses (17,081) (18,962)
Net loans 1,180,851 1,099,521
Premises and equipment - net 51,456 52,894
Accrued interest receivable 3,622 3,399
Bank-owned life insurance 28,858 28,195
Other real estate owned - net 17,572 28,242
Net deferred tax asset 8,819 12,265
Other assets 3,984 2,831
Total assets 1,729,643 1,583,846
Deposits    
Noninterest-bearing 477,032 404,143
Interest-bearing 958,480 902,182
Total deposits 1,435,512 1,306,325
Other borrowed funds 96,169 88,107
Long-term debt 41,238 41,238
Accrued expenses and other liabilities 4,747 5,657
Total liabilities $ 1,577,666 $ 1,441,327
Commitments and contingent liabilities
Shareholders' equity    
Common stock, no par value, 200,000,000 shares authorized; 33,925,113 and 33,866,789 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively $ 216,540 $ 216,460
Retained deficit (64,910) (74,002)
Accumulated other comprehensive income 347 61
Total shareholders' equity 151,977 142,519
Total liabilities and shareholders' equity $ 1,729,643 $ 1,583,846