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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 Dec. 31, 2019
Cash and due from banks $21,027 $20,921
Interest bearing deposits in banks $16,465 $29,216
Federal funds sold $873 $1,159
Total cash and cash equivalents $38,365 $51,296
Interest-bearing time deposits $4,019 $4,309
Securities - available for sale $168,447 $222,293
Securities, at cost $3,679 $5,810
Loans held for sale $495 $4,248
Loans, net $839,599 $1,211,771
Premises and equipment $22,612 $26,283
Construction in progress $3 $68
Goodwill $4,074 $47,340
Other assets $34,870 $33,912
TOTAL ASSETS $1,116,163 $1,607,330
Liabilities (In thousands) Dec. 31, 2018 Dec. 31, 2019
Deposits    
Non-interest bearing $215,422 $265,156
Interest bearing $713,368 $1,023,191
Total deposits $928,790 $1,288,347
Securities - sold under agreement to repurchase $32,181 $48,073
Federal Home Loan Bank advances $0 $24,806
Accrued expenses and other liabilities $11,905 $15,846
Total Liabilities $972,876 $1,377,072
Stockholder's Equity Dec. 31, 2018 Dec. 31, 2019

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

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

$10,823 $81,535
Treasury stock - 1,093,065 shares 12/31/19, 1,114,739 shares 12/31/18 ($12,409) ($12,456)
Retained earnings $147,887 $160,081
Accumulated other comprehensive income ($3,014) $1,098
Total stockholders' equity $143,287 $230,258
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $1,116,163 $1,607,330
Income Statement QTR: Dec.31, 2018 QTR: Dec. 31, 2019 YTD: Dec. 31, 2018 YTD: Dec. 31, 2019
Summary of Income        
Interest Income

$12,003

$17,149

$46,429

$68,306

Interest Expense
$1,817
$3,813
$6,572
$14,759
Net Interest Income
$10,186
$13,336
$39,857
$53,547
Provision for Loan Losses $105 $728 $324 $1,138
Net Interest Income After Provision For Loan Losses $10,081 $12,608 $39,533 $52,409
Other Income (Expense) ($6,052) ($6,783) ($21,357) ($29,775)
Income Before Federal Income Taxes $4,029 $5,825 $18,176 $22,634
Income Taxes $836 $1,102 $3,227 $4,232
Net Income $3,193 $4,723 $14,949 $18,402
Earnings Per Common Share  $0.34 $0.43 $1.61 $1.66
Average Common Shares Outstanding  9,285,261 11,137,004 9,272,964 11,113,810

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