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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 June 30, 2019
Cash and due from banks $21,027 $25,687
Interest bearing deposits in banks $16,465 $82,398
Federal Funds Sold $873 $15,193
Total cash and cash equivalents $38,365 $123,278
Interest-bearing time deposits $4,019 $4,509
Securities - available for sale $168,447 $204,415
Securities, at cost $3,679 $5,789
Loans held for sale $495 $1,909
Loans, net $839,599 $1,084,448
Premises and equipment $22,615 $26,013
Goodwill $4,074 $47,340
Other assets $34,870 $32,846
TOTAL ASSETS $1,116,163 $1,530,547
Liabilities (In thousands) Dec. 31, 2018 June 30, 2019
Deposits    
Non-interest bearing $215,422 $242,510
Interest bearing $713,368 $999,837
Total deposits $928,790 $1,242,347
Securities - sold under agreement to repurchase $32,181 $27,102
Federal Home Loan Bank Advances $0 $24,532
Accrued expenses and other liabilities $11,905 $12,519
Total Liabilities $972,876 $1,306,500
Stockholder's Equity Dec. 31, 2018 June 30, 2019

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

issued and outstanding 12,230,000 shares 6/30/19, 10,400,000 shares 12/31/18

$10,823 $81,955
Treasury stock - 1,122,937 shares 6/30/19, 1,114,739 shares 12/31/18 ($12,409) ($12,707)
Retained earnings $147,887 $153,993
Accumulated other comprehensive income ($3,014) $806
Total Stockholder's Equity $143,287 $224,047
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $1,116,163 $1,530,547
Income Statement QTR: June 30, 2018 QTR: June 30, 2019 YTD: June 30, 2018 YTD: June 30, 2019
Summary of Income        
Interest Income

$11,537

$18,283

$22,673

$34,145

Interest Expense
$1,527
$3,749
$2,990
$6,834
Net Interest Income
$10,010
$14,534
$19,683
$27,311
Provision for loan losses $132 $133 $172 $163
Net interest income after provision for loan losses $9,878 $14,401 $19,511 $27,148
Other Income (expense) ($4,832) ($6,731) ($9,862) ($15,547)
Income before Federal Income Taxes $5,046 $7,670 $9,649 $11,601
Income Taxes $932  $1,490 $1,768 $2,197
Net Income $4,114 $6,180 $7,881 $9,404
Earnings per common share (1) $0.44 $0.56 $0.85 $0.85
Average common shares outstanding (1) 9,265,898 11,106,367 9,265,928 11,098,149

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