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 Q1 YTD 3/31/2017 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 Q1 YTD 3/31/2017 USD

Interest Income

Interest and fees on loans 19,183 19,588 20,082 24,944 9,521

Interest and dividends on investment securities

Taxable 2,861 2,850 2,955 2,896 697
Exempt from federal taxes 1,098 1,116 1,399 1,210 242
Interest on cash and cash equivalents 70 42 42 129 34
Total interest and dividend income 23,212 23,596 24,478 29,179 10,494

Interest Expense

Interest on NOW, money market and savings 740 541 590 1,004 484
Interest on time deposits 1,071 697 396 706 301
Interest on brokered deposits 0 53 179 301 92
Interest on FHLB advances 653 613 787 451 169
Interest on repurchase agreements 45 39 51 40 6
Interest on junior subordinated debentures 303 295 301 344 92
Interest on subordinated debt NA 0 341 414 104
Interest on other borrowings 76 73 67 64 14
Total interest expense 2,888 2,311 2,712 3,324 1,262
Net interest income 20,324 21,285 21,766 25,855 9,232
Provision for credit losses 2,530 1,130 1,105 730 325
Net interest income after provision for credit losses 17,794 20,155 20,661 25,125 8,907

Non-interest Income

Service charges 1,307 1,226 1,131 1,146 363
Wealth management 1,247 1,314 1,485 1,634 374
Mortgage banking 0 92 171 282 36
Increase in cash surrender value of BOLI 238 235 228 226 55
Gain on sale of investment securities, net 610 858 78 431 0
Gain on sale of loans 162 0 484 39 0
Gains from insurance proceeds NA 0 120 1,180 80
Other fees 1,231 1,233 1,312 1,426 398
Total non-interest income 4,795 4,958 5,009 6,364 1,306

Non-interest Expense

Salaries and employee benefits 9,437 9,998 10,551 12,299 3,641
Furniture and equipment 1,143 1,289 1,239 1,493 496
Occupancy 2,011 2,119 1,919 2,083 719
Professional and consulting 1,163 1,216 1,185 1,339 393
Advertising and marketing 642 662 631 707 166
Printing and supplies 149 165 161 191 50
FDIC insurance 512 455 497 507 195
PA shares tax 620 602 602 634 225
Telecommunications 231 252 245 297 90
Postage NA NA NA NA 35
Gain on sale or write down of OREO, net (106) 7 134 644 (1)
Due diligence and merger expense NA NA 0 2,241 51
Other expenses 1,648 1,867 1,865 2,206 685
Total non-interest expense 17,450 18,632 19,029 24,641 6,745
Income before income tax expense 5,139 6,481 6,641 6,848 3,468
Income tax expense 1,220 1,677 1,503 1,869 1,027
Net income 3,919 4,804 5,138 4,979 2,441
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 0.57
Diluted 1.36 1.66 1.79 1.55 0.57
Cash dividends per common share 0.28 0.28 0.28 0.28 0.07

Weighted average common shares outstanding

Basic 2,742,417 2,766,723 2,801,881 3,186,079 4,246,593
Diluted 2,780,752 2,812,726 2,847,488 3,218,884 4,274,209

Consolidated Statements of Comprehensive Income

Net income 3,919 4,804 5,138 4,979 2,441

Other Comprehensive Income

Unrealized holding gains arising during the period
Before tax amount (3,102) 2,237 (437) (56) 151
Tax effect 1,055 (760) 149 19 (51)
Total (2,047) 1,477 (288) (37) 100
Accretion of discount on AFS to HTM reclassification
Before tax amount 22 8 7 9 1
Tax effect (7) (3) (2) (3) (1)
Total 15 5 5 6 0
Less reclassification for gains on sales of AFS investment securities included in net income
Before tax amount (610) (443) (78) (410) 0
Tax effect 207 151 27 139 0
Total (403) (292) (51) (271) 0
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 (1,690) 774 (386) (289) 100
Total comprehensive income 2,229 5,578 4,752 4,690 2,541
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.