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As Reported Financial Statements

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

Cash flows from operating activities

Net income 3,415 3,611 2,581 2,569 3,533

Adjustments to reconcile net income to net cash provided by operations

Depreciation and amortization 657 762 754 726 511
Provision for loan losses NA 0 1,082 1,142 371
Amortization of premium on securities, net 577 575 591 465 327
Amortization of discount on subordinated notes 0 1 30 30 23
Gains on sales of loans held for sale (172) (527) (626) (690) (421)
Losses on sales and writedowns of other real estate, net (10) 346 495 581 160
Gains on sales of investment securities (128) (52) (257) (69) (60)
Gain on sale of building 0 (348) NA NA NA
Net losses on fixed assets disposals 0 3 13 0 NA
Increase in value of life insurance contracts (104) (163) (184) (200) (152)
Income from life insurance benefit NA NA NA NA (642)
Stock compensation expense 58 137 147 148 159
Originations of loans held for sale (8,906) (24,690) (25,897) (33,611) (21,728)
Proceeds from sales of loans held for sale 8,836 23,816 27,488 33,392 22,358
Changes in assets and liabilities
Accrued income (47) (133) (232) (392) 42
Other assets (53) (277) 96 (53) 104
Deferred taxes, net 856 50 (56) (123) (257)
Accrued interest payable (14) 100 14 (18) 188
Other liabilities 870 (193) 229 343 538
Net cash flows provided by operating activities 5,835 3,018 6,268 4,240 5,054

Cash flows from investing activities

Net increase in federal funds sold 89 (680) 1,287 (138) (13)
Purchases of available for sale securities (9,428) (9,394) (15,829) (23,403) (900)
Sales, maturities, and calls of available for sale securities 13,895 10,840 14,379 20,544 8,986
Redemption (purchase) of restricted equity securities, net 88 (59) 322 (158) 12
Net increase in loans (35,655) (35,713) (52,858) (27,248) (23,027)
Purchase of other real estate at foreclosure NA NA NA NA 0
Proceeds from sales of other real estate 1,206 1,403 1,429 988 590
Purchase of bank owned life insurance 0 (2,500) (1,000) (1,000) 0
Death benefit from bank owned life insurance NA NA NA NA 1,316
Supplemental executive retirement plan payments NA NA NA NA (6)
Purchases of property and equipment (1,921) (370) (130) (292) (670)
Proceeds from disposals of property and equipment 0 845 NA NA NA
Net cash flows used in investing activities (31,726) (35,628) (52,400) (30,707) (13,712)

Cash flows from financing activities

Net increase in noninterest-bearing deposits 4,994 26,042 14,086 15,602 14,642
Net increase (decrease) in interest-bearing deposits 17,831 10,909 37,216 10,870 (8,465)
Net increase (decrease) in FHLB borrowings (2,000) 2,000 (14,000) 3,028 (300)
Issuance of subordinated notes, net 0 7,193 NA NA NA
Net decrease in other borrowings 164 1,939 (1,244) 441 (210)
Net increase in equity of non-controlling interest 0 317 NA NA NA
Distribution of equity of noncontrolling interest NA NA NA NA (204)
Common stock cash dividends paid NA NA NA NA (464)
Exercise of stock options NA NA 0 31 91
Preferred stock dividend payment (840) (840) (408) 0 NA
Net settlement of vested restricted stock NA 0 (34) (20) (20)
Net cash flows provided by financing activities 20,149 47,560 35,616 29,952 5,070
Net increase (decrease) in cash and cash equivalents (5,742) 14,950 (10,516) 3,485 (3,588)
Cash and cash equivalents, beginning 19,537 13,795 28,745 18,229 21,714
Cash and cash equivalents, ending 13,795 28,745 18,229 21,714 18,126

Supplemental disclosure of cash flow information

Cash payments for interest 2,132 2,211 2,974 3,064 2,455
Cash payments for income taxes 42 2,201 1,368 1,461 790

Supplemental disclosure of noncash investing and financing activities

Transfer from loans to other real estate owned 1,520 0 481 1,024 697
Transfer from other real estate to fixed assets 1,481 NA NA NA NA
Change in unrealized gains and losses on available for sale securities 1,597 (90) (685) (94) (1,287)
Conversion of preferred stock to common stock 0 400 12,893 0 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.