18 December 31,  2012 2011 (dollars in thousands except share data) ASSETS Cash and due from banks (Note 2) $ 53,646 $ 50,187 Federal funds sold and interest-bearing deposits in other banks 98,637 157,579 Total cash and cash equivalents 152,283 207,766 Short-term investments 17,367 18,351 Securities available-for-sale, amortized cost $1,414,595 in 2012 and $1,244,972 in 2011 (Notes 3, 9 and 11) 1,434,801 1,258,676 Securities held-to-maturity, fair value $281,924 in 2012 and $184,822 in 2011 (Notes 4 and 11) 275,507 179,368 Federal Home Loan Bank of Boston, stock at cost 15,146 15,531 Loans, net (Note 5) 1,111,788 984,492 Less: allowance for loan losses (Note 6) 19,197 16,574 Net loans 1,092,591 967,918 Bank premises and equipment (Note 7) 23,899 21,757 Accrued interest receivable 5,811 6,022 Prepaid FDIC assessments 2,773 4,335 Other assets (Notes 5, 8 and 15) 66,031 63,501 Total assets  $ 3,086,209 $ 2,743,225 LIABILITIES AND STOCKHOLDERS’ EQUITY Demand deposits $ 438,429 $ 365,854 Savings and NOW deposits 933,316 708,988 Money market accounts 653,345 616,241 Time deposits (Note 10) 419,983 433,501 Total deposits 2,445,073 2,124,584 Securities sold under agreements to repurchase (Note 11) 191,390 143,320 Other borrowed funds (Note 12) 195,144 244,143 Subordinated debentures (Note 12) 36,083 36,083 Other liabilities 38,529 34,446 Total liabilities 2,906,219 2,582,576 Commitments and contingencies (Notes 7, 17 and 18) Stockholders’ equity (Note 14): Preferred Stock – $1.00 par value; 100,000 shares authorized; no shares issued and outstanding — — Common stock, Class A, $1.00 par value per share; authorized 10,000,000 shares; issued 3,568,079 shares in 2012 and 3,548,317 shares in 2011 3,568 3,548 Common stock, Class B, $1.00 par value per share; authorized 5,000,000 shares; issued 1,986,880 shares in 2012 and 1,994,380 shares in 2011 1,986 1,994 Additional paid-in capital 11,891 11,587 Retained earnings 162,892 146,039 180,337 163,168 Unrealized gains on securities available-for-sale, net of taxes 12,330 8,319 Pension liability, net of taxes (12,677) (10,838) Total accumulated other comprehensive loss, net of taxes (Notes 3 and 14) (347) (2,519) Total stockholders’ equity 179,990 160,649 Total liabilities and stockholders’ equity  $ 3,086,209 $ 2,743,225 See accompanying “Notes to Consolidated Financial Statements.” 