Shareholder's Report

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Assets (In thousands) Dec. 31, 2015 Sept. 30, 2016
Cash and due from banks $15,999 $21,206
Interest bearing deposits in banks $5,334 $9,690
Federal funds sold $685 $602
Total cash and cash equivalents $22,018 $31,498
Interest-bearing time deposits $0 $1,915
Securities - available for sale $238,832 $228,190
Loans, net $679,821 $732,070
Premises and equipment $20,587 $21,356
Goodwill $4,074 $4,074
Other assets $23,736 $25,344
TOTAL ASSETS $989,068 $1,044,447
Liabilities (In thousands) Dec. 31, 2015 Sept. 30, 2016
Deposits
Non-interest bearing $171,112 $176,180
Interest bearing $606,227 $622,281
Total deposits $771,339 $838,101
Securities - sold under agreement to repurchase $78,815 $59,487
Federal Home Loan Bank Advances $10,000 $10,000
Accrued expenses and other liabilities $8,817 $9,916
Total Liabilities $868,971 $917,504
Stockholder's Equity Dec. 31, 2015 Sept. 30, 2016

Common Stock, no par value - 6,500,000 shares authorized as of December 31, 2015;

5,200,000 shares issued as of September 30, 2016.

$12,086 $11,841
Treasury stock - 578,705 for year 2016; 587,466 shares for year 2015. ($12,389) ($12,251)
Retained earnings $120,188 $125,723
Accumulated other comprehensive income $212 $1,630
Total Stockholder's Equity $120,097 $126,943
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $989,068 $1,044,447
Income Statement

QTR

Sept. 30, 2015

QTR

Sept. 30, 2015

YTD

Sept. 30, 2015

YTD

Sept. 30, 2016

Summary of Income 

Interest Income

$8,444

$9,590

$24,917

$27,981

Interest Expense 
Net Interest Income
($935)
$7,509
($1,099)
$8,491
($2,664)
$22,253
($3,142)
$24,839
Provision for loan losses ($243) ($308) ($540) ($924)
Net interest income after provision for loan losses $7,266 $8,183 $21,713  $23,915
Other Income (expense) ($3,685) ($4,007) ($11,375) ($12,096)
Income before Federal Income Taxes $3,581 $4,176 $10,338  $11,819
Income Taxes ($961) ($1,161) ($2,770) ($3,349)
Net Income $2,620 $3,015 $7,568  $8,470
Earnings per common share $0.57 $0.65 $1.64  $1.84
Average common shares outstanding 4,615,379 4,612,766 4,615,689 4,609,188

This statement has not been reviewed or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation