2016

2016 Proxy Statement
2016 Annual Report
2016 10K

2015

2015 Proxy Statement
2015 Annual Report
2015 10K

2014

2014 Proxy Statement
2014 Annual Report
2014 10K

Shareholder's Reports

Assets (In thousands) Dec. 31, 2016 June 30, 2017
Cash and due from banks $19,204 $17,550
Interest bearing deposits in banks $8,144 $11,063
Federal funds sold $974 $646
Total cash and cash equivalents $28,322 $29,259
Interest-bearing time deposits $1,915 $2,541
Securities - available for sale $222,244 $199,299
Loans held for sale $2,055 $1,666
Loans, net $751,310 $783,980
Premises and equipment $21,457 $20,942
Goodwill $4,074 $4,074
Other assets $24,518 $24,414
TOTAL ASSETS $1,055,895 $1,066,175

 

Liabilities (In thousands) Dec. 31, 2016 June 30, 2017
Deposits
Non-interest bearing $186,390 $189,770
Interest bearing $655,813 $687,705
Total deposits $842,203 $877,475
Securities - sold under agreement to repurchase $70,324 $40,095
Federal Home Loan Bank Advances $10,000 $10,000
Accrued expenses and other liabilities $7,791 $7,370
Total Liabilities $930,318 $934,940

 

Stockholder's Equity Dec. 31, 2016 June 30, 2017

Common Stock, no par value - 10,000,000 shares authorized;

issued and outstanding 5,200,000 shares 6/30/17 and 12/31/16

$11,947 $12,150
Treasury stock - 579,125 shares 6/30/2017, 579,125 shares 12/31/2016 ($12,267) ($12,267)
Retained earnings $127,869 $131,734
Accumulated other comprehensive income ($1,972) ($382)
Total Stockholder's Equity $125,577 $131,235
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $1,055,895 $1,066,175

 

Income Statement QTR: June 30, 2016 QTR: June 30, 2017 YTD: June 30, 2016 YTD: June 30, 2017
Summary of Income

Interest Income

$9,387

$10,124

$18,391

$19,845 

Interest Expense
$1,047
$1,253
$2,043
 $2,432
 Net Interest Income
$8,340
$8,871
$16,348
 $17,413
Provision for loan losses $339 $25 $616 $98
Net interest income after provision for loan losses $8,001 $8,846 $15,732  $17,315
Other Income (expense) ($3,773) ($4,325) ($8,089) ($8,812)
Income before Federal Income Taxes $4,228 $4,521 $7,643  $8,503
Income Taxes $1,254 $1,298 $2,188 $2,441
Net Income $2,974 $3,223 $5,455  $6,062
Earnings per common share $0.65 $0.70 $1.18  $1.31
Average common shares outstanding 4,605,534 4,620,875 4,605,534 4,620,875