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2019

Proxy Statement for 2020 Annual Meeting
2019 Annual Report
2019 10K

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, 2019 June 30, 2020
Cash and due from banks $20,921 $26,078
Interest bearing deposits in banks $29,216 $28,258
Federal funds sold $1,159 $31,105
Total cash and cash equivalents $51,296 $85,441
Interest-bearing time deposits $4,309 $4,636
Securities - available for sale $222,293 $236,292
Securities, at cost $5,810 $5,810
Loans held for sale $4,248 $11,445
Loans, net $1,211,771 $1,334,790
Premises and equipment $22,283 $26,049
Construction in progress $68 $0
Goodwill $47,340 $47,340
Other assets $33,912 $32,644
TOTAL ASSETS $1,607,330 $1,784,447
Liabilities (In thousands) Dec. 31, 2019 June 30, 2020
Deposits    
Non-interest bearing $265,156 $336,027
Interest bearing $1,023,191 $1,141,348
Total deposits $1,288,347 $1,477,375
Securities - sold under agreement to repurchase $48,073 $30,949
Federal Home Loan Bank advances $24,806 $19,087
Accrued expenses and other liabilities $15,846 $16,739
Total Liabilities $1,377,072 $1,544,150
Stockholder's Equity Dec. 31, 2019 June 30, 2020

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

issued and outstanding 12,230,000 shares 6/30/20 and 12/31/19

$81,535 $82,134
Treasury stock - 1,100,975 shares 6/30/20, 1,093,065 shares 12/31/19 ($12,456) ($12,668)
Retained earnings $160,081 $165,476
Accumulated other comprehensive income $1,098 $5,355
Total stockholders' equity $230,258 $240,297
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $1,607,330 $1,784,447
Income Statement QTR: June 30, 2019 QTR: June 30, 2020 YTD: June 30, 2019 YTD: June 30, 2020
Summary of Income        
Interest Income

$18,283

$17,273

$34,145

$34,737

Interest Expense
$3,749
$2,698
$6,834
$6,109
Net Interest Income
$14,534
$14,575
$27,311
$28,628
Provision for Loan Losses $133 $1,569 $163 $2,999
Net Interest Income After Provision For Loan Losses $14,401 $13,006 $27,148 $25,629
Other Income (Expense) ($6,731) ($7,068) ($15,547) ($14,641)
Income Before Federal Income Taxes $7,670 $5,938 $11,601 $10,988
Income Taxes $1,490 $1,134 $2,197 $2,079
Net Income $6,180 $4,804 $9,404 $8,909
Earnings Per Common Share  $0.56 $0.43 $0.85 $0.80
Average Common Shares Outstanding  11,106,367 11,129,341 11,098,149 11,132,105

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