v3.20.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Assets:    
Cash and due from banks $ 33,946 $ 32,490
Interest-bearing deposits in other banks 193,707 293,467
Total cash and cash equivalents 227,653 325,957
Time deposits in other banks 245 490
Investment securities:    
Available for sale securities, at fair value 94,963 96,937
Total investment securities 94,963 96,937
Loans held for sale 7,765 3,989
Loans:    
Loans held for investment [1] 2,013,367 1,767,182
Less: allowance for loan and lease losses (7,620) (6,737)
Loans, net 2,005,747 1,760,445
Premises and equipment, net 78,594 75,150
Accrued interest receivable 7,314 6,507
Other real estate owned and repossessed assets 3,731 3,653
Goodwill 79,009 68,503
Core deposit intangible 10,536 11,472
SBA servicing asset 3,055 3,355
Bank-owned life insurance 15,699 15,610
Federal Home Loan Bank and other bank stock, at cost 5,660 8,310
Other assets 4,526 4,244
Total assets 2,544,497 2,384,622
Transaction accounts:    
Noninterest-bearing 487,060 444,822
Interest-bearing 878,279 803,557
Total transaction accounts 1,365,339 1,248,379
Time deposits 711,968 679,747
Total deposits 2,077,307 1,928,126
Accrued interest payable 1,218 1,219
Short-term borrowings 10,000  
Long-term borrowings 103,276 105,140
Deferred tax liability, net 1,706 672
Other liabilities 5,173 3,760
Total liabilities 2,198,680 2,038,917
Commitments and contingencies (Note 13)
Stockholders' Equity:    
Preferred stock, $1 par value; 5 million shares authorized; 0 shares issued and outstanding
Common stock, no par value; 50 million shares authorized; 18,304,245 and 18,272,245 shares issued; 17,969,012 and 18,258,222 shares outstanding 297,966 297,188
Retained earnings 52,213 48,139
Accumulated other comprehensive income (loss) 732 667
Treasury stock (5,094) (289)
Total stockholders' equity 345,817 345,705
Total liabilities and stockholders' equity $ 2,544,497 $ 2,384,622
[1] Organic loans balance includes $(4.1) million and $(4.2) million of deferred fees, cost, premium and discount as of March 31, 2020 and December 31, 2019, respectively.

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