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As-Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD

Cash Flows From Operating Activities

Net income 3,919 4,804 5,138 4,979 7,138

Adjustments to reconcile net income to net cash provided by (used in) operating activities

Depreciation, amortization and accretion 2,103 1,802 1,806 1,622 1,253
Provision for credit losses 2,530 1,130 1,105 730 1,285
Stock based compensation 204 267 342 940 321
Net gain on sale of securities (610) (858) (78) (431) (25)
Net loss on sale or write down of OREO and other repossessed property (106) 7 134 644 121
Gain on insurance proceeds NA NA (120) (1,180) (80)
Write off of property and equipment NA 0 698 0 NA
Earnings from investment in BOLI (238) (235) (228) (226) (165)
Deferred tax expense (benefit) 644 (226) (88) 344 260
Proceeds from sales of mortgage loans NA NA NA NA 3,698
Mortgage loans originated for sale NA NA NA NA (3,936)
Mortgage banking income NA NA NA NA (112)
Proceeds from sales of loans 2,740 3,645 18,739 12,246 2,142
Loans originated for sale (2,578) (4,170) (17,638) (12,207) (2,010)
Gain on sale of loans (162) (92) (484) (39) (132)
Taxes on exercise of stock options 0 NA NA NA NA
Increase in accrued interest receivable 173 44 (157) (59) (224)
Decrease (increase) in other assets 1,050 799 (475) 4,859 101
Decrease in accrued interest payable (45) (25) (6) 60 (73)
Increase in other liabilities 68 260 (260) (1,772) 2,716
Net Cash Provided By (Used In) Operating Activities 9,692 7,152 8,428 10,510 12,278

Cash Flows From Investing Activities

Activity in available-for-sale securities

Sales 39,311 39,333 17,988 43,913 3,030
Maturities, repayments and calls 34,109 25,805 58,262 55,195 19,318
Purchases (64,044) (114,425) (57,928) (59,646) (15,093)

Activity in held-to-maturity securities

Sales 0 1,612 0 761 737
Maturities, repayments and calls 5,472 4,756 1,822 13,647 641
Purchases (4,714) 0 (10,093) (13,507) (1,407)
Net cash disbursed in connection with acquisition NA NA 0 (5,488) NA
Net increase in restricted stock 523 316 (860) 999 (990)
Net increase in loans (26,765) (41,196) (29,020) (29,693) (6,074)
Proceeds from insurance NA NA 1,250 1,180 0
Death benefit proceeds NA NA NA NA 310
Purchases of property and equipment (663) (344) (1,791) (3,181) (576)
Proceeds from disposals of office property and equipment 1 NA NA NA NA
Expenses capitalized in OREO NA 0 (202) (1,236) NA
Costs capitalized in OREO and other repossessed property NA NA NA NA (15)
Proceeds from sale of OREO and other repossessed property 3,411 288 177 432 596
Net Cash Provided By (Used In) Investing Activities (13,359) (83,855) (20,395) 3,376 477

Cash Flows From Financing Activities

Net (decrease) increase in deposits NA NA NA NA (13,859)
Net increase in deposits 28,323 46,336 1,192 51,759 NA
Repayment of FHLBP advances NA 0 (10,000) (43,104) (24,133)
Funding of FHLBP advances (10,000) 10,000 20,000 0 19,848
Net increase (decrease) in repurchase agreements 2,840 (633) 13,195 (20,527) 3,494
Proceeds from issuance of subordinated debt NA 0 9,750 0 NA
Repayment of other borrowings (30) (36) (41) (46) (39)
Dividends paid (899) (906) (834) (895) (895)
Proceeds from the exercise of stock options 0 39 402 0 NA
Taxes on exercise of stock options NA (23) (469) (701) (189)
Tax benefit for stock option exercises NA NA 0 188 0
Redemption of preferred stock NA 0 (13,000) 0 NA
Sale of treasury stock 344 370 387 424 405
Net Cash (Used in) Provided by Financing Activities 20,578 55,147 20,582 (12,902) (15,368)
Net Change in Cash and Cash Equivalents 16,911 (21,556) 8,615 984 (2,613)
Cash and Cash Equivalents at Beginning of Period 17,149 34,060 12,504 21,119 22,103
Cash and Cash Equivalents at End of Period 34,060 12,504 21,119 22,103 19,490

Supplemental Disclosure of Cash Flow Information

Cash paid during the period for

Interest 2,933 2,336 2,718 3,264 4,200
Income taxes 1,578 872 1,777 1,175 2,536

Supplemental Disclosure of Non-cash Flow Information

Net decrease in goodwill NA NA NA NA 65
Transfers from loans to real estate owned and other repossessed property 3,164 100 1,789 26 2,851

Assets acquired

Investment securities NA NA 0 3,027 NA
Loans NA NA 0 306,396 NA
Goodwill NA NA 0 15,590 NA
Core deposit intangible NA NA 0 508 NA
Other assets NA NA 0 10,838 NA
Total NA NA 0 336,359 NA

Liabilities assumed

Deposits NA NA 0 227,153 NA
FHLBP advances NA NA 0 68,436 NA
Other liabilities NA NA 0 576 NA
Total NA NA 0 296,165 NA
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.