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2018

Proxy Statement for 2019 Annual Meeting
2018 Annual Report
2018 10K

2017

Proxy Statement for 2018 Annual Meeting
2017 Annual Report
2017 10K

Shareholder's Reports

Assets (In thousands) Dec. 31, 2018 Sept. 30, 2019
Cash and due from banks $21,027 $29,637
Interest bearing deposits in banks $16,465 $73,551
Federal Funds Sold $873 $11,404
Total cash and cash equivalents $38,365 $114,592
Interest-bearing time deposits $4,019 $4,554
Securities - available for sale $168,447 $190,465
Securities, at cost $3,679 $5,789
Loans held for sale $495 $606
Loans, net $839,599 $1,151,937
Premises and equipment $22,615 $25,990
Goodwill $4,074 $47,340
Other assets $34,870 $33,607
TOTAL ASSETS $1,116,163 $1,574,880
Liabilities (In thousands) Dec. 31, 2018 Sept. 30, 2019
Deposits    
Non-interest bearing $215,422 $261,719
Interest bearing $713,368 $1,016,309
Total deposits $928,790 $1,278,028
Securities - sold under agreement to repurchase $32,181 $30,056
Federal Home Loan Bank Advances $0 $24,669
Accrued expenses and other liabilities $11,905 $14,719
Total Liabilities $972,876 $1,347,472
Stockholder's Equity Dec. 31, 2018 Sept. 30, 2019

Common Stock, no par value - 20,000,000 shares authorized;

issued and outstanding 12,230,000 shares 9/30/19, 10,400,000 shares 12/31/18

$10,823 $81,264
Treasury stock - 1,092,986 shares 9/30/19, 1,114,739 shares 12/31/18 ($12,409) ($12,453)
Retained earnings $147,887 $157,126
Accumulated other comprehensive income ($3,014) $1,471
Total Stockholder's Equity $143,287 $227,408
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $1,116,163 $1,574,880
Income Statement QTR: Sept. 30, 2018 QTR: Sept. 30, 2019 YTD: Sept. 30, 2018 YTD: Sept. 30, 2019
Summary of Income        
Interest Income

$11,753

$17,012

$34,426

$51,157

Interest Expense
$1,765
$4,112
$4,755
$10,946
Net Interest Income
$9,988
$12,900
$29,671
$40,211
Provision for loan losses $47 $247 $219 $410
Net interest income after provision for loan losses $9,941 $12,653 $29,452 $39,801
Other Income (expense) ($5,443) ($7,445) ($15,305) ($22,992)
Income before Federal Income Taxes $4,498 $5,208 $14,147 $16,809
Income Taxes $623 $933 $2,391 $3,130
Net Income $3,875 $4,275 $11,756 $13,679
Earnings per common share (1) $0.42 $0.38 $1.27 $1.23
Average common shares outstanding (1) 9,274,507 11,121,426 9,268,819 11,105,993

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