Online Banking

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

Interest Income

Interest and fees on loans 19,183 19,588 20,082 24,944 29,089

Interest and dividends on investment securities

Taxable 2,861 2,850 2,955 2,896 2,175
Exempt from federal taxes 1,098 1,116 1,399 1,210 714
Interest on cash and cash equivalents 70 42 42 129 166
Total interest and dividend income 23,212 23,596 24,478 29,179 32,144

Interest Expense

Interest on NOW, money market and savings 740 541 590 1,004 1,678
Interest on time deposits 1,071 697 396 706 921
Interest on brokered deposits 0 53 179 301 346
Interest on FHLB advances 653 613 787 451 522
Interest on repurchase agreements 45 39 51 40 21
Interest on junior subordinated debentures 303 295 301 344 286
Interest on subordinated debt NA 0 341 414 311
Interest on other borrowings 76 73 67 64 42
Total interest expense 2,888 2,311 2,712 3,324 4,127
Net interest income 20,324 21,285 21,766 25,855 28,017
Provision for credit losses 2,530 1,130 1,105 730 1,285
Net interest income after provision for credit losses 17,794 20,155 20,661 25,125 26,732

Non-interest Income

Service charges 1,307 1,226 1,131 1,146 936
Wealth management 1,247 1,314 1,485 1,634 1,256
Mortgage banking 0 92 171 282 112
Increase in cash surrender value of BOLI 238 235 228 226 165
Gain on sale of investment securities, net 610 858 78 431 25
Gain on sale of loans 162 0 484 39 132
Gains from insurance proceeds NA 0 120 1,180 80
Other fees 1,231 1,233 1,312 1,426 1,293
Total non-interest income 4,795 4,958 5,009 6,364 3,999

Non-interest Expense

Salaries and employee benefits 9,437 9,998 10,551 12,299 11,291
Furniture and equipment 1,143 1,289 1,239 1,493 1,526
Occupancy 2,011 2,119 1,919 2,083 2,006
Professional and consulting 1,163 1,216 1,185 1,339 1,334
Advertising and marketing 642 662 631 707 575
Printing and supplies 149 165 161 191 183
FDIC insurance 512 455 497 507 506
PA shares tax 620 602 602 634 677
Telecommunications 231 252 245 297 265
Postage NA NA NA NA 83
Loss on sale or write down of OREO, net (106) 7 134 644 121
Due diligence and merger expense NA NA 0 2,241 77
Other expenses 1,648 1,867 1,865 2,206 2,175
Total non-interest expense 17,450 18,632 19,029 24,641 20,819
Income before income tax expense 5,139 6,481 6,641 6,848 9,912
Income tax expense 1,220 1,677 1,503 1,869 2,774
Net income 3,919 4,804 5,138 4,979 7,138
Preferred stock dividends 148 135 50 0 NA
Net income available to common stockholders 3,771 4,669 5,088 4,979 NA

Earnings per common share

Basic 1.38 1.69 1.82 1.56 1.68
Diluted 1.36 1.66 1.79 1.55 1.66
Cash dividends per common share 0.28 0.28 0.28 0.28 0.21

Weighted average common shares outstanding

Basic 2,742,417 2,766,723 2,801,881 3,186,079 4,255,520
Diluted 2,780,752 2,812,726 2,847,488 3,218,884 4,287,745

Consolidated Statements of Comprehensive Income

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

Other Comprehensive Income (Loss)

Unrealized holding gains (losses) arising during the period
Before tax amount (3,102) 2,237 (437) (56) 401
Tax effect 1,055 (760) 149 19 (136)
Total (2,047) 1,477 (288) (37) 265
Accretion of discount on AFS to HTM reclassification
Before tax amount 22 8 7 9 8
Tax effect (7) (3) (2) (3) (3)
Total 15 5 5 6 5
Less reclassification for gains on sales of AFS investment securities included in net income
Before tax amount (610) (443) (78) (410) (9)
Tax effect 207 151 27 139 3
Total (403) (292) (51) (271) (6)
Other comprehensive loss - securities (2,435) 1,190 (334) (302) NA
Unrealized actuarial gains (losses) - pension
Before tax amount 1,129 (630) (79) 20 NA
Tax effect (384) 214 27 (7) NA
Total 745 (416) (52) 13 NA
Total other comprehensive income (loss) (1,690) 774 (386) (289) 264
Total comprehensive income (loss) 2,229 5,578 4,752 4,690 7,402
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.