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 Q1 YTD 3/31/2018 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 Q1 YTD 3/31/2018 USD

Interest Income

Interest and fees on loans 19,588 20,082 24,944 39,254 9,882

Interest and dividends on investment securities

Taxable 2,850 2,955 2,896 2,983 793
Exempt from federal taxes 1,116 1,399 1,210 938 217
Interest on cash and cash equivalents 42 42 129 210 21
Total interest and dividend income 23,596 24,478 29,179 43,385 10,913

Interest Expense

Interest on NOW, money market and savings 541 590 1,004 2,289 830
Interest on time deposits 697 396 706 1,257 325
Interest on brokered deposits 53 179 301 538 199
Interest on FHLB advances 613 787 451 752 301
Interest on repurchase agreements 39 51 40 28 6
Interest on junior subordinated debentures 295 301 344 386 105
Interest on subordinated debt 0 341 414 414 104
Interest on other borrowings 73 67 64 56 16
Total interest expense 2,311 2,712 3,324 5,720 1,886
Net interest income 21,285 21,766 25,855 37,665 9,027
Provision for credit losses 1,130 1,105 730 1,660 375
Net interest income after provision for credit losses 20,155 20,661 25,125 36,005 8,652

Non-interest Income

Service charges 1,226 1,131 1,146 1,223 313
Wealth management 1,314 1,485 1,634 1,713 435
Mortgage banking 92 171 282 148 61
Increase in cash surrender value of BOLI 235 228 226 223 52
Gains on sale of investment securities, net 858 78 431 50 NA
Gains on sale of loans 0 484 39 153 NA
Gains from insurance proceeds 0 120 1,180 203 0
Other fees 1,233 1,312 1,426 1,705 412
Total non-interest income 4,958 5,009 6,364 5,418 1,273

Non-interest Expense

Salaries and employee benefits 9,998 10,551 12,299 15,204 3,772
Furniture and equipment 1,289 1,239 1,493 2,065 489
Occupancy 2,119 1,919 2,083 2,679 697
Professional and consulting 1,216 1,185 1,339 1,922 403
Advertising and marketing 662 631 707 755 182
Printing and supplies 165 161 191 231 53
FDIC insurance 455 497 507 602 118
PA shares tax 602 602 634 867 242
Telecommunications 252 245 297 350 81
Postage NA NA NA NA 41
Gain on sale or write down of OREO, net 7 134 644 121 0
Due diligence and merger expense NA 0 2,241 77 0
Other expenses 1,867 1,865 2,206 3,148 652
Total non-interest expense 18,632 19,029 24,641 28,021 6,730
Income before income tax expense 6,481 6,641 6,848 13,402 3,195
Income tax expense 1,677 1,503 1,869 5,456 582
Net income 4,804 5,138 4,979 7,946 2,613
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 0.61
Diluted 1.66 1.79 1.55 1.85 0.61
Cash dividends per common share 0.28 0.28 0.28 0.28 0.07

Weighted average common shares outstanding

Basic 2,766,723 2,801,881 3,186,079 4,260,137 4,290,971
Diluted 2,812,726 2,847,488 3,218,884 4,290,070 4,308,847

Comprehensive Income (Loss)

Net income 4,804 5,138 4,979 7,946 2,613

Other Comprehensive (Loss) Income

Unrealized holding gains arising during the period
Before tax amount 2,237 (437) (56) (117) (1,014)
Tax effect (760) 149 19 40 213
Total 1,477 (288) (37) (77) (801)
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) NA
Tax effect 151 27 139 3 NA
Total (292) (51) (271) (6) NA
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 other comprehensive (loss) income 774 (386) (289) (116) (801)
Total comprehensive income 5,578 4,752 4,690 7,830 1,812
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.