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As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD

OPERATING ACTIVITIES

Interest received 32,176 34,707 35,044 39,570
Fees received 14,786 12,505 12,719 11,839
Interest paid (4,070) (3,607) (3,896) (4,627)
Cash paid to employees and vendors (28,667) (29,418) (32,658) (33,876)
Cash contributed to pension plan (185) (110) (165) (140)
Income taxes paid (1,902) (2,858) (2,950) (1,534)
Proceeds from sale of loans held for resale 776 15,471 14,453 9,775
Originations of loans held for resale 187 (15,669) (14,449) (9,467)
Net cash provided by operating activities 13,101 11,021 8,098 11,540

INVESTING ACTIVITIES

Available for sales securities

Purchases (27,055) (15,379) (28,961) (25,953)
Proceeds from maturities, calls, and payments 15,750 20,217 26,760 25,230

Held to maturity securities

Purchases (941) (618) (637) (866)
Proceeds from maturities, calls, and payments 2,302 1,403 619 500
Proceeds from property insurance 0 0 1,183 0
Cash paid for bank owned life insurance (4,000) NA NA NA
Additions to properties and equipment (1,448) (580) (1,888) (1,452)
Proceeds from sales of fixed assets 365 NA NA NA
Purchase of tax credit investment (225) (1,912) (1,100) (2,078)
Acquisitions NA 0 0 (325)
Net increase in loans (64,280) (47,941) (78,441) (167,901)
Net cash used in investing activities (79,532) (44,810) (82,465) (172,845)

FINANCING ACTIVITIES

Proceeds from (repayments of) short-term borrowings, net NA 14,128 (16,657) 17,538
Proceeds from long-term borrowings NA 0 10,000 0
Repayment of long-term borrowings NA (9,000) 0 0
Proceeds from (repayments of) borrowings, net (8,760) NA NA NA
Net increase in deposits 27,620 1,023 95,347 136,992
Dividends paid (1,098) (2,735) (3,049) (3,258)
Repurchase of treasury stock (250) (1,436) (210) (80)
Issuance of common stock 248 238 216 499
Reissuance of treasury stock 148 515 443 77
Net cash provided by financing activities 17,908 2,733 86,090 151,768
Net increase (decrease) in cash and equivalents (48,523) (31,056) 11,723 (9,537)

CASH AND CASH EQUIVALENTS

Beginning of period 90,477 41,954 10,898 22,621
End of period 41,954 10,898 22,621 13,084

RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES

Net income 7,857 8,187 7,843 8,272

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization 1,996 1,573 1,513 1,554
Deferred tax (benefit) expense (372) (1,460) 980 (71)
Provision for loan losses 1,540 1,229 1,216 1,209
Net loss on tax credit investment 1,555 2,596 0 905
Gain on loans sold (25) (203) (133) (93)
Gain on proceeds from insurance 0 0 (734) 0
Stock options and restricted stock expense 352 465 495 553
Proceeds from sale of loans held for resale 776 15,471 14,453 9,775
Originations of loans held for resale 187 (15,669) (14,449) (9,467)

Changes in assets and liabilities affecting cash flow

Other assets (2,119) (2,919) (2,563) (2,156)
Other liabilities 1,354 1,751 (523) 1,059
NET CASH PROVIDED BY OPERATING ACTIVITIES 13,101 11,021 8,098 11,540
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.