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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Cash and due from banks $ 37,808 $ 46,369
Federal funds sold 15,482 1,105
Cash and cash equivalents 53,290 47,474
Investment securities available for sale, at fair value 398,578 453,758
Federal Home Loan Bank stock, at cost 12,491 12,037
Loans 1,941,663 1,721,830
Allowance for loan losses (17,235) (16,689)
Loans, net 1,924,428 1,705,141
Premises and equipment, net 29,680 21,491
Accrued interest receivable 7,134 7,631
Bank-owned life insurance 34,893 34,249
Deferred tax assets, net 5,361 6,518
Other assets 7,836 8,269
Total assets 2,473,691 2,296,568
Deposits:    
Noninterest-bearing demand 380,079 400,530
Interest-bearing demand 346,307 336,089
Savings 996,836 950,501
Time of $250 or more 81,871 55,745
Other time 209,663 151,664
Total deposits 2,014,756 1,894,529
Federal funds purchased 2,660 19,985
Subordinated notes, net 20,438 20,425
Federal Home Loan Bank advances, net 179,365 137,878
Long-term debt 22,925 27,040
Accrued expenses and other liabilities 21,727 5,688
Total liabilities 2,261,871 2,105,545
COMMITMENTS AND CONTINGENCIES (Note 17)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value; authorized 50,000,000 shares; no shares issued and outstanding at December 31, 2019 and 2018 0 0
Common stock, no par value; authorized 50,000,000 shares; 16,379,752 and 16,295,494 shares issued and outstanding at December 31, 2019 and 2018, respectively 3,000 3,000
Additional paid-in capital 27,260 25,128
Retained earnings 184,821 169,709
Accumulated other comprehensive loss (3,261) (6,814)
Total stockholders’ equity 211,820 191,023
Total liabilities and stockholders’ equity $ 2,473,691 $ 2,296,568