About Us

As Reported Financial Statements

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
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

Cash flows from operating activities

Net income 3,611 2,581 2,569 3,998

Adjustments to reconcile net income to net cash provided by operations

Depreciation and amortization 762 754 726 678
Provision for loan losses 0 1,082 1,142 561
Amortization of premium on securities, net 575 591 465 409
Amortization of discount on subordinated notes 1 30 30 31
Losses on sales and write-downs of other real estate, net 346 495 581 334
Gains on sales of investment securities (52) (257) (69) (60)
Gain on sale of building (348) NA NA NA
Net losses on fixed assets disposals 3 13 NA NA
Increase in value of life insurance contracts (163) (184) (200) (202)
Income from life insurance death benefit NA NA 0 (642)
Stock compensation expense 137 147 148 315
Originations of loans held for sale (24,690) (25,897) (33,611) (25,394)
Proceeds from sales of loans held for sale 23,816 27,488 33,392 27,405
Gains on sales of loans held for sale (527) (626) (690) (509)
Changes in assets and liabilities
Accrued income (133) (232) (392) 382
Other assets (277) 96 (53) (439)
Deferred taxes, net 50 (56) (123) (208)
Accrued interest payable 100 14 (18) 35
Other liabilities (193) 229 343 558
Net cash flows provided by operating activities 3,018 6,268 4,240 7,252

Cash flows from investing activities

Net increase in federal funds sold (680) 1,287 (138) (14)
Purchases of available for sale securities (9,394) (15,829) (23,403) (900)
Sales, maturities, and calls of available for sale securities 10,840 14,379 20,544 10,071
Redemptions (purchase) of restricted equity securities, net (59) 322 (158) 130
Net increase in loans (35,713) (52,858) (27,248) (28,291)
Proceeds from sales of other real estate 1,403 1,429 988 1,719
Purchases of bank owned life insurance (2,500) (1,000) (1,000) 0
Death benefit from bank owned life insurance NA NA 0 1,316
Purchases of property and equipment (370) (130) (292) (684)
Proceeds from disposals of property and equipment 845 NA NA NA
Net cash flows used in investing activities (35,628) (52,400) (30,707) (16,653)

Cash flows from financing activities

Net increase in noninterest-bearing deposits 26,042 14,086 15,602 10,588
Net increase in interest-bearing deposits 10,909 37,216 10,870 5,265
Net increase (decrease) in FHLB borrowings 2,000 (14,000) 3,028 (3,084)
Issuance of subordinated notes, net 7,193 NA NA NA
Net increase (decrease) in other borrowings 1,939 (1,244) 441 (1,475)
Net increase in equity of non-controlling interest 317 NA NA NA
Distribution of equity of non-controlling interest NA NA 0 (204)
Common stock cash dividends paid NA NA 0 (697)
Exercise of stock options NA 0 31 85
Preferred stock dividend payment (840) (408) NA NA
Net settlement of restricted stock and cash in lieu of fractional shares 0 (34) (20) (20)
Net cash flows provided by financing activities 47,560 35,616 29,952 10,458
Net increase in cash and cash equivalents 14,950 (10,516) 3,485 1,057
Cash and cash equivalents, beginning 13,795 28,745 18,229 21,714
Cash and cash equivalents, ending 28,745 18,229 21,714 22,771

Supplemental disclosure of cash flow information

Cash payments for interest 2,211 2,974 3,064 3,665
Cash payments for income taxes 2,201 1,368 1,461 1,245

Supplemental disclosure of noncash investing and financing activities

Transfer from loans to other real estate owned 0 481 1,024 697
Change in unrealized gains and losses on available for sale securities (90) (685) (94) (848)
Conversion of preferred stock to common stock 400 12,893 NA NA
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.