Woman in new car

Financial Highlights

Balance Sheet ($000) December 31, 2020
December 31, 2019 December 31, 2018 December 31, 2017
Total Assets 380,710 324,402 310,701 294,578
Total Net Loans 239,867
217,274 199,583 173,681
Total Securities 111,998
86,746 90,213 99,652
Total Deposits 346,396
282,974 262,250 267,760
Shareholders' Equity 31,001
27,411 23,542 22,821

Performance Ratios (%) December 31, 2020
December 31, 2019 December 31, 2018 December 31, 2017
Return on Average Assets 0.82% 0.89% 0.83% 0.50%
Return on Average Shareholders' Equity 9.67% 10.84% 11.11% 6.31%
Net Interest Margin 3.19% 3.39% 3.33% 3.17%
Loans/Deposits 69.25% 76.78% 76.10% 64.86%
Securities/Assets 29.42% 26.74% 29.04% 33.83%
Shareholders' Equity/Assets 8.14% 8.45% 7.58% 7.75%
Efficiency Ratio 65.92% 69.03% 70.93% 74.44%

Summary of Operations ($000) Year Ended December 31, 2020
Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017
Interest Income 12,388
12,364 11,115 9,637
Interest Expense 1,782
2,296 1,637 1,070
Net Interest Income 10,606
10,068 9,478 8,567
Provision for Loan Losses 800
143 128 133
Net Interest Income After
Provision for Loan Losses
9,806
9,925 9,350 8,434
Noninterest Income 2,097
1,915 1,897 2,024
Noninterest Expense
8,324
 
8,356 8,186 8,167
Income Before Income Taxes
3,579
3,484 3,061 2,291
Income Tax Expense
703 686 546 861
Net Income 2,876
2,798 2,515 1,430

Shareholder Information Year Ended December 31, 2020
Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017
Common Shares Outstanding 279,246 279,246 279,246 279,246
Basic and Diluted Earnings Per Share ($) 10.30
10.02 8.92 5.07
Book Value Per Share ($) 111.02
98.16 84.31 80.85