Online Banking

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

Interest Income

Interest and fees on loans 19,588 20,082 24,944 39,254 30,634

Interest and dividends on investment securities

Taxable 2,850 2,955 2,896 2,983 2,409
Exempt from federal taxes 1,116 1,399 1,210 938 654
Interest on cash and cash equivalents 42 42 129 210 140
Total interest and dividend income 23,596 24,478 29,179 43,385 33,837

Interest Expense

Interest on NOW, money market and savings 541 590 1,004 2,289 2,822
Interest on time deposits 697 396 706 1,257 1,237
Interest on brokered deposits 53 179 301 538 1,070
Interest on FHLB advances 613 787 451 752 739
Interest on repurchase agreements 39 51 40 28 14
Interest on junior subordinated debentures 295 301 344 386 340
Interest on subordinated debt 0 341 414 414 311
Interest on other borrowings 73 67 64 56 58
Total interest expense 2,311 2,712 3,324 5,720 6,591
Net interest income 21,285 21,766 25,855 37,665 27,246
Provision for credit losses 1,130 1,105 730 1,660 850
Net interest income after provision for credit losses 20,155 20,661 25,125 36,005 26,396

Non-interest Income

Service charges 1,226 1,131 1,146 1,223 848
Wealth management 1,314 1,485 1,634 1,713 1,489
Mortgage banking 92 171 282 148 193
Increase in cash surrender value of BOLI 235 228 226 223 158
Gain on sale of investment securities, net 858 78 431 50 0
Gain on sale of loans 0 484 39 153 37
Gains from insurance proceeds 0 120 1,180 203 8
Other fees 1,233 1,312 1,426 1,705 1,243
Total non-interest income 4,958 5,009 6,364 5,418 3,976

Non-interest Expense

Salaries and employee benefits 9,998 10,551 12,299 15,204 11,742
Furniture and equipment 1,289 1,239 1,493 2,065 1,603
Occupancy 2,119 1,919 2,083 2,679 1,987
Professional and consulting 1,216 1,185 1,339 1,922 1,311
Advertising and marketing 662 631 707 755 568
Printing and supplies 165 161 191 231 NA
FDIC insurance 455 497 507 602 363
PA shares tax 602 602 634 867 727
Telecommunications 252 245 297 350 254
Loss on sale or write down of OREO, net 7 134 644 121 151
Due diligence and merger expense NA 0 2,241 77 0
Other expenses 1,867 1,865 2,206 3,148 2,337
Total non-interest expense 18,632 19,029 24,641 28,021 21,043
Income before income tax expense 6,481 6,641 6,848 13,402 9,329
Income tax expense 1,677 1,503 1,869 5,456 1,647
Net income 4,804 5,138 4,979 7,946 7,682
Preferred stock dividends 135 50 NA NA NA
Net income available to common stockholders 4,669 5,088 NA NA NA

Earnings per common share

Basic 1.69 1.82 1.56 1.87 1.79
Diluted 1.66 1.79 1.55 1.85 1.78
Cash dividends per common share 0.28 0.28 0.28 0.28 0.21

Weighted average common shares outstanding

Basic 2,766,723 2,801,881 3,186,079 4,260,137 4,298,987
Diluted 2,812,726 2,847,488 3,218,884 4,290,070 4,313,638

Consolidated Statements of Comprehensive Income

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

Other Comprehensive (Loss) Income

Unrealized holding gains arising during the period
Before tax amount 2,237 (437) (56) (117) (1,412)
Tax effect (760) 149 19 40 296
Total 1,477 (288) (37) (77) (1,116)
Accretion of discount on AFS to HTM reclassification
Before tax amount 8 7 9 8 0
Tax effect (3) (2) (3) (3) 0
Total 5 5 6 5 0
Less reclassification for gains on sales of AFS investment securities included in net income
Before tax amount (443) (78) (410) (9) 0
Tax effect 151 27 139 3 0
Total (292) (51) (271) (6) 0
Total other comprehensive (loss) income 774 (386) (289) (116) (1,116)
Other comprehensive loss - securities 1,190 (334) (302) (78) NA

Unrealized actuarial (losses) gains - pension

Before tax amount (630) (79) 20 (57) NA
Tax effect 214 27 (7) 19 NA
Total (416) (52) 13 (38) NA
Total comprehensive income 5,578 4,752 4,690 7,830 6,566
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