2013 Consolidated Balance Sheets
Assets – ($ in thousands, except per share amounts)
At December 31,20132012Cash and due from banks8,8516,369Interest-earning demand deposits in other banks2500Federal funds sold04,170Total cash and equivalents9,10110,539Securities available for sale21,34224,476Loans, net of allowance for loan losses of $2,685 and $1,959198,908149,644Premises and equipment, net13,08910,112Federal Home Loan Bank stock, at cost510246Accrued interest receivable924786Deferred tax asset343481Bank-owned life insurance3,8603,740Other assets181163Total assets$248,258200,187Liabilities and Stockholders’ Equity – ($ in thousands, except per share amounts)
Liabilities20132012Noninterest-bearing demand deposits49,04537,721Savings, NOW and money-market deposits64,12659,352Time deposits97,19380,065Total deposits210, 364177,138Federal Home Loan Bank advances6,000–Other liabilities1,7901,331Total liabilities218,154178,469
Stockholders’ Equity20132012Senior Non-Cumulative Perpetual Preferred Stock4,7274,727Common stock, $5 par value; $10,000,000 shares authorized11,8208,835Additional paid-in capital13,9549,154Retained earnings (accumulated other comprehensive (loss) income172(1,085)Accumulated other comprehensive (loss) income(569)87Total stockholders’ equity30,10421,718Total liabilities and stockholders’ equity$248,258200,187Consolidated Statements of Comprehensive Income 2013
Change in unrealized gain on securities – (in thousands)
At December 31,20132012Net Earnings$1,304856Other Comprehensive Loss
At December 31,20132012Unrealized (loss) gain arising during the year(1,133)64Reclassification adjustment for realized loss (gains)81(360)Net change in unrealized gain(1,052)(296)Deferred income taxes on above change396111Total other comprehensive loss(656)(185)Comprehensive income$648671