2015

2015 Proxy Statement
2015 Annual Report
2015 10K

2014

2014 Proxy Statement
2014 Annual Report
2014 10K

2013

2013 Proxy Statement
2013 Annual Report
2013 10K

Shareholder's Reports

Assets (In thousands) Dec. 31, 2015 Dec. 31, 2016
Cash and due from banks $15,019 $19,204
Interest bearing deposits in banks $6,314 $8,144
Federal funds sold $685 $974
Total cash and cash equivalents $22,018 $28,322
Interest-bearing time deposits $0 $1,915
Securities - available for sale $238,832 $222,244
Loans, net $679,821 $753,365
Premises and equipment $20,587 $21,457
Goodwill $4,074 $4,074
Other assets $23,736 $24,518
TOTAL ASSETS $989,068 $1,055,895

 

Liabilities (In thousands) Dec. 31, 2015 Dec. 31, 2016
Deposits
Non-interest bearing $171,112 $186,390
Interest bearing $600,227 $655,813
Total deposits $771,339 $842,203
Securities - sold under agreement to repurchase $78,815 $70,324
Federal Home Loan Bank Advances $10,000 $10,000
Accrued expenses and other liabilities $8,817 $7,791
Total Liabilities $868,971 $930,318

 

Stockholder's Equity Dec. 31, 2015 Dec. 31, 2016

Common Stock, no par value - 10,000,000 shares authorized as of December 31, 2015;

5,200,000 shares issued as of December 31, 2016.

$12,086 $11,947
Treasury stock - 579,125 for year 2016; 587,466 shares for year 2015. ($12,389) ($12,267)
Retained earnings $120,188 $127,869
Accumulated other comprehensive income $212 (($1,972)
Total Stockholder's Equity $120,097 $125,577
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $989,068 $1,055,895

 

Income Statement QTR:Dec. 31, 2015 QTR: Dec. 31, 2016 YTD: Dec. 31, 2015 YTD: Dec. 31, 2016
Summary of Income

Interest Income

$8,733

$9,755

$33,650

$37,727

Interest Expense
($923)
($1,080)
($3,587)
($4,223)
 Net Interest Income
$7,810
$8,675
$30,063
$33,504
Provision for loan losses ($85) ($197) ($625) ($1,121)
Net interest income after provision for loan losses $7,725 $8,478 $29,438  $32,383
Other Income (expense) ($3,903) ($3,918) ($15,279) ($16,063)
Income before Federal Income Taxes $3,822 $4,560 $14,159  $16,320
Income Taxes ($1,049) ($1,307) ($3,819) ($4,656)
Net Income $2,773 $3,253 $10,340  $11,664
Earnings per common share $0.60 $0.70 $2.24  $2.53
Average common shares outstanding 4,621,122 4,620,831 4,617,058 4,612,115