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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

Consolidated Statements of Income

Interest Income

Interest and fees on loans 20,082 24,944 39,254 41,851 33,785
Interest and dividends on investment securities
Taxable 2,955 2,896 2,983 3,220 2,253
Exempt from federal taxes 1,399 1,210 938 874 634
Interest on cash and cash equivalents 42 129 210 230 452
Total interest and dividend income 24,478 29,179 43,385 46,175 37,124

Interest Expense

Interest on NOW, money market and savings 590 1,004 2,289 3,862 3,321
Interest on time deposits 396 706 1,257 1,982 2,758
Interest on brokered deposits 179 301 538 1,662 1,697
Interest on FHLB advances 787 451 752 887 508
Interest on repurchase agreements 51 40 28 15 0
Interest on junior subordinated debentures 301 344 386 465 378
Interest on subordinated debt 341 414 414 414 311
Interest on other borrowings 67 64 56 84 35
Total interest expense 2,712 3,324 5,720 9,371 9,008
Net interest income 21,766 25,855 37,665 36,804 28,116
Provision for credit losses 1,105 730 1,660 1,200 625
Net interest income after provision for credit losses 20,661 25,125 36,005 35,604 27,491

Non-interest Income

Service charges 1,131 1,146 1,223 1,119 788
Wealth management 1,485 1,634 1,713 1,955 1,488
Mortgage banking 171 282 148 243 216
Increase in cash surrender value of BOLI 228 226 223 216 160
Gain on sale of investment securities, net 78 431 50 0 125
Gain on sale of loans 484 39 153 38 0
Gains from insurance proceeds 120 1,180 203 8 0
Other fees 1,312 1,426 1,705 1,666 1,324
Total non-interest income 5,009 6,364 5,418 5,245 4,101

Non-interest Expense

Salaries and employee benefits 10,551 12,299 15,204 15,552 11,240
Furniture and equipment 1,239 1,493 2,065 2,166 1,752
Occupancy 1,919 2,083 2,679 2,629 2,005
Professional and consulting 1,185 1,339 1,922 1,739 1,428
Advertising and marketing 631 707 755 711 517
Printing and supplies 161 191 231 212 NA
FDIC insurance 497 507 602 479 202
PA shares tax 602 634 867 965 779
Telecommunications 245 297 350 339 267
Loss on sale or write down of OREO, net 134 644 121 171 165
Due diligence and merger expense 0 2,241 77 0 NA
Transaction costs NA NA NA NA 881
Other expenses 1,865 2,206 3,148 2,912 2,290
Total non-interest expense 19,029 24,641 28,021 27,875 21,526
Income before income tax expense 6,641 6,848 13,402 12,974 10,066
Income tax expense 1,503 1,869 5,456 2,290 2,022
Net income 5,138 4,979 7,946 10,684 8,044

Earnings per common share

Basic 1.82 1.56 1.87 2.48 1.86
Diluted 1.79 1.55 1.85 2.48 1.86
Cash dividends per common share 0.28 0.28 0.28 0.28 0.21

Weighted average common shares outstanding

Basic 2,801,881 3,186,079 4,260,137 4,303,410 4,331,026
Diluted 2,847,488 3,218,884 4,290,070 4,315,324 4,335,792
Preferred stock dividends 50 NA NA NA NA
Net income available to common stockholders 5,088 NA NA NA NA

Consolidated Statements of Comprehensive Income

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

Other Comprehensive Income (Loss)

Unrealized holding gains (losses) arising during the period
Before tax amount (437) (56) (117) (350) 1,916
Tax effect 149 19 40 73 (402)
Total (288) (37) (77) (277) 1,514
Accretion of discount on AFS to HTM reclassification
Before tax amount 7 9 8 0 NA
Tax effect (2) (3) (3) 0 NA
Total 5 6 5 0 NA
Less reclassification for gains on sales of AFS investment securities included in net income
Before tax amount (78) (410) (9) 0 (57)
Tax effect 27 139 3 0 13
Total (51) (271) (6) 0 (44)
Other comprehensive income - securities (334) (302) (78) (277) NA
Unrealized actuarial gains (losses) - pension
Before tax amount (79) 20 (57) 212 NA
Tax effect 27 (7) 19 (45) NA
Total (52) 13 (38) 167 NA
Total other comprehensive income (loss) (386) (289) (116) (110) 1,470
Total comprehensive income 4,752 4,690 7,830 10,574 9,514
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.