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CONSOLIDATED BALANCE SHEETS (Unaudited) - Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and due from banks $ 9,309 $ 14,891
Interest bearing demand deposits with other banks 22,194 47,227
Total cash and cash equivalents 31,503 62,118
Securities    
Available-for-sale at fair value 79,034 76,694
Federal Home Loan Bank of Boston stock at cost 3,117 3,176
Loans held-for-sale 183 763
Loans receivable, net (allowance for loan losses: $5,877 and $5,716) 728,845 699,018
Bank premises and equipment, net 14,632 14,307
Goodwill 12,552 12,552
Intangible assets (net of accumulated amortization: $3,064 and $2,909) 2,183 2,338
Accrued interest receivable 2,451 2,307
Cash surrender value of life insurance policies 13,775 13,685
Deferred taxes 2,013 1,989
Other assets 1,516 2,245
Total Assets 891,804 891,192
Deposits    
Demand (non-interest bearing) 192,184 201,340
Demand (interest bearing) 122,814 125,465
Money market 192,357 183,783
Savings and other 126,214 119,651
Certificates of deposit 122,089 124,294
Total deposits 755,658 754,533
Repurchase agreements 2,620 3,914
Federal Home Loan Bank of Boston advances 27,031 26,979
Subordinated debt [1] 9,770 9,764
Note payable 365 376
Capital lease liability 420 422
Accrued interest and other liabilities 4,538 4,630
Total Liabilities 800,402 800,618
Shareholders' Equity    
Common stock - $.10 per share par value; Authorized: 5,000,000; Issued: 2,753,426 and 2,733,576 275 273
Paid-in capital 41,915 41,364
Retained earnings 48,662 47,922
Unearned compensation - restricted stock awards (529) (110)
Accumulated other comprehensive income 1,079 1,125
Total Shareholders' Equity 91,402 90,574
Total Liabilities and Shareholders' Equity $ 891,804 $ 891,192
[1] (1) Net of issuance costs, which are capitalized and amortized as a component of interest expense over a period of 10 years.