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 Sept. 30, 2017
Cash and due from banks $19,204 $34,769
Interest bearing deposits in banks $8,144 $13,544
Federal funds sold $974 $791
Total cash and cash equivalents $28,322 $49,104
Interest-bearing time deposits $1,915 $2,541
Securities - available for sale $222,244 $196,528
Loans held for sale $2,055 $2,147
Loans, net $751,310 $788,335
Premises and equipment $21,457 $21,473
Goodwill $4,074 $4,074
Other assets $24,518 $25,953
TOTAL ASSETS $1,055,895 $1,090,155

 

Liabilities (In thousands) Dec. 31, 2016 Sept. 30, 2017
Deposits
Non-interest bearing $186,390 $189,963
Interest bearing $655,813 $713,403
Total deposits $842,203 $903,366
Securities - sold under agreement to repurchase $70,324 $35,550
Federal Home Loan Bank Advances $10,000 $10,000
Accrued expenses and other liabilities $7,791 $8,350
Total Liabilities $930,318 $957,266

 

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

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

issued and outstanding 10,200,000 shares 9/30/17 and 12/31/16(1)

$11,947 $11,388
Treasury stock - 1,133,324 shares 9/30/2017, 1,158,250 shares 12/31/2016(1) ($12,267) ($12,126)
Retained earnings $127,869 $134,320
Accumulated other comprehensive income ($1,972) ($693)
Total Stockholder's Equity $125,577 $132,889
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $1,055,895 $1,090,155
 (1) Share data has been adjusted to reflect a 2-for-1 stock split on September 20, 2017
Income Statement QTR: Sept. 30, 2016 QTR: Sept. 30, 2017 YTD: Sept. 30, 2016 YTD: Sept. 30, 2017
Summary of Income

Interest Income

$9,590

$10,535

$27,981

$30,380

Interest Expense
$1,099
$1,333
$3,142
 $3,765
 Net Interest Income
$8,491
$9,202
$24,839
 $26,615
Provision for loan losses $308 $99 $924 $197
Net interest income after provision for loan losses $8,183 $9,103 $23,915  $26,418
Other Income (expense) ($4,007) ($4,722) ($12,096) ($13,534)
Income before Federal Income Taxes $4,176 $4,381 $11,819  $12,884
Income Taxes $1,161 $1,159 $3,349 $3,600
Net Income $3,015 $3,222 $8,470  $9,284
Earnings per common share (1) $0.33 $0.35 $0.92  $1.00
Average common shares outstanding (1) 9,225,532 9,252,919 9,218,376 9,245,514

(1) Share data has been adjusted to reflect a 2-for-1 stock split on September 20, 2017