Online Banking

As-Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

Interest Income

Interest and fees on loans 20,082 24,944 39,254 41,851 11,290

Interest and dividends on investment securities

Taxable 2,955 2,896 2,983 3,220 811
Exempt from federal taxes 1,399 1,210 938 874 216
Interest on cash and cash equivalents 42 129 210 230 43
Total interest and dividend income 24,478 29,179 43,385 46,175 12,360

Interest Expense

Interest on NOW, money market and savings 590 1,004 2,289 3,862 1,051
Interest on time deposits 396 706 1,257 1,982 828
Interest on brokered deposits 179 301 538 1,662 611
Interest on FHLB advances 787 451 752 887 225
Interest on repurchase agreements 51 40 28 15 0
Interest on junior subordinated debentures 301 344 386 465 127
Interest on subordinated debt 341 414 414 414 104
Interest on other borrowings 67 64 56 84 16
Total interest expense 2,712 3,324 5,720 9,371 2,962
Net interest income 21,766 25,855 37,665 36,804 9,398
Provision for credit losses 1,105 730 1,660 1,200 200
Net interest income after provision for credit losses 20,661 25,125 36,005 35,604 9,198

Non-interest Income

Service charges 1,131 1,146 1,223 1,119 291
Wealth management 1,485 1,634 1,713 1,955 445
Mortgage banking 171 282 148 243 74
Increase in cash surrender value of BOLI 228 226 223 216 52
Gain on sale of investment securities, net 78 431 50 0 3
Gains on sale of loans 484 39 153 38 NA
Gain from insurance proceeds 120 1,180 203 8 NA
Other fees 1,312 1,426 1,705 1,666 409
Total non-interest income 5,009 6,364 5,418 5,245 1,274

Non-interest Expense

Salaries and employee benefits 10,551 12,299 15,204 15,552 3,853
Furniture and equipment 1,239 1,493 2,065 2,166 541
Occupancy 1,919 2,083 2,679 2,629 725
Professional and consulting 1,185 1,339 1,922 1,739 577
Advertising and marketing 631 707 755 711 195
Printing and supplies 161 191 231 212 NA
FDIC insurance 497 507 602 479 114
PA shares tax 602 634 867 965 260
Telecommunications 245 297 350 339 88
Loss on sale or write down of OREO, net 134 644 121 171 113
Due diligence and merger expense 0 2,241 77 0 NA
Other expenses 1,865 2,206 3,148 2,912 812
Total non-interest expense 19,029 24,641 28,021 27,875 7,278
Income before income tax expense 6,641 6,848 13,402 12,974 3,194
Income tax expense 1,503 1,869 5,456 2,290 607
Net income 5,138 4,979 7,946 10,684 2,587
Preferred stock dividends 50 NA NA NA NA
Net income available to common stockholders 5,088 NA NA NA NA

Earnings per common share

Basic 1.82 1.56 1.87 2.48 0.60
Diluted 1.79 1.55 1.85 2.48 0.60
Cash dividends per common share 0.28 0.28 0.28 0.28 0.07

Weighted average common shares outstanding

Basic 2,801,881 3,186,079 4,260,137 4,303,410 4,327,226
Diluted 2,847,488 3,218,884 4,290,070 4,315,324 4,329,991

Comprehensive Income (Loss)

Net income 5,138 4,979 7,946 10,684 2,587

Other Comprehensive Income (Loss)

Unrealized holding gains (losses) arising during the period
Before tax amount (437) (56) (117) (350) 810
Tax effect 149 19 40 73 (169)
Total (288) (37) (77) (277) NA
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 NA
Tax effect 27 139 3 0 NA
Total (51) (271) (6) 0 NA
Other comprehensive loss - 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) 641
Total comprehensive income 4,752 4,690 7,830 10,574 3,228
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.