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As-Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD

Cash Flows From Operating Activities

Net income 4,804 5,138 4,979 7,946 7,682

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

Depreciation, amortization and accretion 1,802 1,806 1,622 1,649 1,144
Provision for credit losses 1,130 1,105 730 1,660 850
Stock based compensation 267 342 940 559 270
Net gain on sale of securities (858) (78) (431) (50) 0
Net loss on sale or write down of OREO and other repossessed property 7 134 644 121 151
Gain on insurance proceeds NA (120) (1,180) (203) (8)
Write off of property and equipment 0 698 NA NA NA
Earnings from investment in BOLI (235) (228) (226) (223) (158)
Deferred tax expense (226) (88) 344 2,329 193
Proceeds from sales of mortgage loans NA NA 11,682 5,710 11,088
Mortgage loans originated for sale NA NA (11,400) (6,213) (10,244)
Gain on sale of mortgage loans NA NA (282) (148) (193)
Proceeds from sales of loans 3,645 18,739 564 2,403 805
Loans originated for sale (4,170) (17,638) (525) (2,250) (768)
Gain on sale of loans (92) (484) (39) (153) (37)
Increase in accrued interest receivable 44 (157) (59) (255) (388)
(Increase) decrease in other assets 799 (475) 4,859 (405) (230)
Increase (decrease) in accrued interest payable (25) (6) 60 20 3
Increase in other liabilities 260 (260) (1,772) 1,899 581
Net Cash Provided by Operating Activities 7,152 8,428 10,510 14,396 10,741

Cash Flows From Investing Activities

Activity in available-for-sale securities

Sales 39,333 17,988 43,913 3,030 0
Maturities, repayments and calls 25,805 58,262 55,195 30,201 10,976
Purchases (114,425) (57,928) (59,646) (30,352) 0

Activity in held-to-maturity securities

Sales 1,612 0 761 737 0
Maturities, repayments and calls 4,756 1,822 13,647 5,442 413
Purchases 0 (10,093) (13,507) (1,407) 0
Net cash disbursed in connection with acquisition NA 0 (5,488) 0 NA
Net decrease (increase) in restricted stock 316 (860) 999 (2,260) 1,777
Net increase in loans (41,196) (29,020) (29,693) (32,453) (62,848)
Proceeds from insurance company NA 1,250 1,180 0 NA
Death benefit proceeds NA NA 0 664 8
Purchases of property and equipment (344) (1,791) (3,181) (642) (164)
Expenses capitalized in OREO 0 (202) (1,236) (15) 0
Proceeds from sale of OREO and other repossessed property 288 177 432 609 102
Net Cash (Used in) Provided by Investing Activities (83,855) (20,395) 3,376 (26,446) (49,736)

Cash Flows From Financing Activities

Net increase (decrease) in deposits NA NA 51,759 (23,984) 78,678
Net increase in deposits 46,336 1,192 NA NA NA
Repayment of FHLBP advances 0 (10,000) (43,104) (46,167) (226,661)
Funding of FHLBP advances 10,000 20,000 0 69,848 184,600
Net (decrease) increase in repurchase agreements (633) 13,195 (20,527) 134 (7,934)
Proceeds from issuance of subordinated debt 0 9,750 NA NA NA
Proceeds from (repayment of) other borrowings (36) (41) (46) 2,320 10,816
Dividends paid (906) (834) (895) (1,194) (902)
Proceeds from the exercise of stock options 39 402 NA NA NA
Payment of employee taxes on stock option exercise and share award vest (23) (469) (701) (635) (266)
Tax benefit for restricted stock vesting NA 0 188 0 0
Redemption of preferred stock 0 (13,000) NA NA NA
Sale of treasury stock 370 387 424 542 449
Net Cash Provided By (Used In) Financing Activities 55,147 20,582 (12,902) 864 38,780
Net Change in Cash and Cash Equivalents (21,556) 8,615 984 (11,186) (215)
Cash and Cash Equivalents at Beginning of Period 34,060 12,504 21,119 22,103 10,917
Cash and Cash Equivalents at End of Period 12,504 21,119 22,103 10,917 10,702

Supplemental Disclosure of Cash Flow Information

Cash paid during the period for

Interest 2,336 2,718 3,264 5,700 6,588
Income taxes 872 1,777 1,175 3,511 975

Supplemental Disclosure of Non-cash Flow Information

Net decrease in goodwill NA NA 0 65 0
Transfers from loans to real estate owned and other repossessed property 100 1,789 26 2,960 318

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

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

Liabilities assumed

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