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As-Reported Financials

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Cash Flows From Operating Activities

Net income 5,138 4,979 7,946 10,684 8,044

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation, amortization and accretion 1,806 1,622 1,649 1,499 1,015
Provision for credit losses 1,105 730 1,660 1,200 625
Stock based compensation 342 940 559 315 225
Non-cash funding of retirement plans NA NA 542 584 446
Net gain on sale of securities (78) (431) (50) 0 (125)
Net loss on sale or write down of OREO and other repossessed property 134 644 121 171 165
Gain on insurance proceeds (120) (1,180) (203) (8) 0
Earnings from investment in BOLI (228) (226) (223) (216) (160)
Deferred tax (benefit) expense (88) 344 2,329 247 (125)
Proceeds from sales of mortgage loans NA 11,682 5,710 14,170 11,828
Mortgage loans originated for sale NA (11,400) (6,213) (13,695) (11,452)
Gain on sale of mortgage loans NA (282) (148) (243) (216)
Proceeds from sales of loans 18,739 564 2,403 806 0
Loans originated for sale (17,638) (525) (2,250) (768) 0
Gain on sale of loans (484) (39) (153) (38) 0
Write off of property and equipment 698 NA NA NA 3
Decrease (increase) in accrued interest receivable (157) (59) (255) (385) 85
Decrease (increase) in other assets (475) 4,859 (405) (118) 1,144
(Decrease) increase in accrued interest payable (6) 60 20 92 (101)
(Decrease) increase in other liabilities (260) (1,772) 1,899 706 (649)
Amortization of operating lease right-of-use asset NA NA NA NA 558
Accretion of operating lease liability NA NA NA NA (554)
Net Cash Provided by Operating Activities 8,428 10,510 14,938 15,003 10,756

Cash Flows From Investing Activities

Activity in available-for-sale securities

Sales 17,988 43,913 3,030 0 16,715
Maturities, repayments and calls 58,262 55,195 30,201 24,490 47,754
Purchases (57,928) (59,646) (30,352) (10,000) (31,546)

Activity in held-to-maturity securities

Sales 0 761 737 0 NA
Maturities, repayments and calls 1,822 13,647 5,442 489 4,707
Purchases (10,093) (13,507) (1,407) 0 NA
Net cash disbursed in connection with acquisition 0 (5,488) NA NA NA
Net (increase) decrease in restricted stock (860) 999 (2,260) 2,025 (144)
Net decrease (increase) in loans (29,020) (29,693) (32,453) (86,914) 9,923
Proceeds from insurance company 1,250 1,180 NA NA NA
Death benefit proceeds NA 0 664 8 0
Purchases of property and equipment (1,791) (3,181) (642) (219) (289)
Expenses capitalized in OREO (202) (1,236) (15) 0 NA
Purchase of third party ownership in OREO NA NA NA NA (165)
Proceeds from sale of OREO and other repossessed property 177 432 609 262 2,855
Net Cash Provided By (Used In) Investing Activities (20,395) 3,376 (26,446) (69,859) 49,810

Cash Flows From Financing Activities

Net (decrease) increase in deposits 1,192 51,759 (23,984) 123,363 (52,449)
Repayment of FHLBP advances (10,000) (43,104) (46,167) (240,678) (66,747)
Funding of FHLBP advances 20,000 0 69,848 194,600 65,000
Net decrease in repurchase agreements 13,195 (20,527) 134 (12,023) 0
Proceeds from issuance of subordinated debt 9,750 NA NA NA NA
(Decrease) increase in other borrowings (41) (46) 2,320 (2,433) (3,051)
Dividends paid (834) (895) (1,194) (1,204) (910)
Proceeds from the exercise of stock options 402 NA NA NA NA
Payment of employee taxes on stock option exercise and share award vest (469) (701) (635) (365) (8)
Tax benefit for restricted stock vesting 0 188 NA NA NA
Redemption of preferred stock (13,000) NA NA NA NA
Sale of treasury stock 387 424 NA NA NA
Net Cash (Used in) Provided by Financing Activities 20,582 (12,902) 322 61,260 (58,165)
Net Change in Cash and Cash Equivalents 8,615 984 (11,186) 6,404 2,401
Cash and Cash Equivalents at Beginning of Period 12,504 21,119 22,103 10,917 17,321
Cash and Cash Equivalents at End of Period 21,119 22,103 10,917 17,321 19,722

Supplemental Disclosure of Cash Flow Information

Cash paid during the period for

Interest 2,718 3,264 5,700 9,279 9,109
Income taxes 1,777 1,175 3,511 1,400 1,301

Supplemental Disclosure of Non-cash Flow Information

Net decrease in goodwill NA 0 65 0 NA
Transfers from loans to real estate owned and other repossessed property 1,789 26 2,960 472 652
Purchased loans not yet funded NA NA 0 3,000 NA

Assets, Liabilities, and Equity in Connection with Merger (Noncash)

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

Liabilities assumed

Deposits 0 227,153 NA NA NA
FHLBP advances 0 68,436 NA NA NA
Other liabilities 0 576 NA NA NA
Total 0 296,165 NA NA 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.