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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and due from financial institutions $ 118,970 $ 40,519
Securities available for sale 234,042 230,230
Equity securities 873 832
Loans held for sale 2,379 2,197
Loans, net of allowance of $12,814 and $13,134 1,140,944 1,151,527
Other securities 14,247 14,247
Premises and equipment, net 17,424 17,611
Accrued interest receivable 4,842 4,488
Goodwill 27,095 27,095
Other intangible assets 1,259 1,279
Bank owned life insurance 25,267 25,125
Other assets 12,963 10,707
Total assets 1,600,305 1,525,857
Deposits    
Noninterest-bearing 535,225 361,964
Interest-bearing 755,446 842,959
Total deposits 1,290,671 1,204,923
Federal Home Loan Bank advances 60,000 71,900
Securities sold under agreements to repurchase 17,452 21,755
Subordinated debentures 29,427 29,427
Accrued expenses and other liabilities 14,712 13,391
Total liabilities 1,412,262 1,341,396
SHAREHOLDERS’ EQUITY    
Preferred shares, no par value, 200,000 shares authorized, Series B Preferred shares, $1,000 liquidation preference, 18,409 shares issued at March 31, 2018 and 18,760 shares issued at December 31, 2017, net of issuance costs 17,034 17,358
Common shares, no par value, 20,000,000 shares authorized, 10,991,238 shares issued at March 31, 2018 and 10,946,439 shares issued at December 31, 2017 154,170 153,810
Retained earnings 37,902 31,652
Treasury shares, 747,964 common shares at cost (17,235) (17,235)
Accumulated other comprehensive loss (3,828) (1,124)
Total shareholders’ equity 188,043 184,461
Total liabilities and shareholders’ equity $ 1,600,305 $ 1,525,857