Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Assets:    
Cash and due from banks $ 18,786 $ 19,054
Interest-bearing deposits in other banks 33,509 38,895
Total cash and cash equivalents 52,295 57,949
Time deposits in other banks 245 245
Investment securities:    
Available for sale securities, at fair value 35,802 37,243
Total investment securities 35,802 37,243
Loans held for sale 4,530 3,814
Loans:    
Loans held for investment [1] 882,101 869,119
Less: allowance for loan and lease losses (5,727) (5,652)
Loans, net 876,374 863,467
Premises and equipment, net 43,343 42,189
Accrued interest receivable 3,115 3,466
Other real estate owned and repossessed assets 268 21
Goodwill 4,485 4,485
Core deposit intangible 3,311 3,486
SBA servicing asset 3,512 3,411
Deferred tax asset, net 1,588 1,480
Bank-owned life insurance 480 479
Federal Home Loan Bank and other bank stock, at cost 4,802 4,812
Other assets 5,328 3,751
Total assets 1,039,478 1,030,298
Transaction accounts:    
Noninterest-bearing 178,457 176,726
Interest-bearing 235,831 250,491
Total transaction accounts 414,288 427,217
Time deposits 426,675 408,151
Total deposits 840,963 835,368
Accrued interest payable 424 407
Short-term borrowings 15,000 15,000
Long-term borrowings 75,203 76,411
Other liabilities 4,909 3,973
Total liabilities 936,499 931,159
Commitments and contingencies (Note 11)
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; 7,486,611 and 7,280,183 shares issued and outstanding 84,952 82,615
Retained earnings 19,038 17,025
Accumulated other comprehensive income (loss) (1,011) (501)
Total stockholders' equity 102,979 99,139
Total liabilities and stockholders' equity $ 1,039,478 $ 1,030,298
[1] Balance includes $(3.5) million and $(3.4) million of deferred fees, cost, premium and discount as of March 31, 2018 and December 31, 2017, respectively.