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As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

OPERATING ACTIVITIES

Interest received 35,044 39,570 47,028 57,605 15,323
Fees received 12,719 11,839 13,419 14,960 4,424
Interest paid (3,896) (4,627) (5,631) (9,140) (2,999)
Cash paid to employees and vendors (32,658) (33,876) (37,778) (41,302) (12,685)
Cash contributed to pension plan (165) (140) (1,000) 0 NA
Income taxes paid (2,950) (1,534) (3,029) 3,314 0
Proceeds from sale of loans held for resale 14,453 9,775 11,487 4,301 2,071
Originations of loans held for resale (14,449) (9,467) (11,016) (4,615) (2,045)
Net cash provided by operating activities 8,098 11,540 13,480 25,123 4,089

INVESTING ACTIVITIES

Available for sales securities

Purchases (28,961) (25,953) (65,889) (47,863) (10,568)
Proceeds from maturities, calls, and payments 26,760 25,230 13,014 60,869 5,523

Held to maturity securities

Purchases (637) (866) (4,345) (630) (224)
Proceeds from maturities, calls, and payments 619 500 995 4,278 10
Proceeds from property insurance 1,183 NA NA NA NA
Cash paid for bank-owned life insurance 0 0 (6,000) 675 (360)
Proceeds from bank-owned life insurance claims NA NA NA NA 0
Additions to properties and equipment (1,888) (1,452) (483) (1,106) (426)
Proceeds from equity securities sales NA 0 0 1,960 NA
Purchase of tax credit investment (1,100) (2,078) (3,102) (3,877) (19)
Acquisitions 0 (325) (275) (5,000) NA
Net increase in loans (78,441) (167,901) (120,438) (91,873) (29,454)
Net cash used in investing activities (82,465) (172,845) (186,523) (82,567) (35,518)

FINANCING ACTIVITIES

Repayments of short-term borrowings, net (16,657) 17,538 59,180 (84,397) (660)
Proceeds from long-term borrowings 10,000 NA NA NA NA
Net increase in deposits 95,347 136,992 111,255 163,829 60,665
Dividends paid (3,049) (3,258) (3,819) (4,428) NA
Repurchase of treasury stock (210) (80) (342) 0 NA
Issuance of common stock 216 499 14,804 1,025 25
Reissuance of treasury stock 443 77 211 0 NA
Net cash provided by financing activities 86,090 151,768 181,289 76,029 60,030
Net increase (decrease) in cash and cash equivalents 11,723 (9,537) 8,246 18,585 28,601

CASH AND CASH EQUIVALENTS

Beginning of period 10,898 22,621 13,084 21,330 39,915
End of period 22,621 13,084 21,330 39,915 68,516

RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES -

Net income 7,843 8,272 10,479 16,356 3,720

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

Depreciation and amortization 1,513 1,554 1,762 1,825 505
Deferred tax expense 980 (71) 3,150 495 12
Provision for loan losses 1,216 1,209 738 1,402 538
Loss on tax credit investment 0 3,022 3,997 2,870 148
Refundable state historic tax credit received (accrued) NA (2,117) (2,843) 3,105 17
Loss on sales of equity securities NA 0 0 98 NA
Gain on loans sold (133) (93) (156) (38) (26)
Gain on proceeds from insurance (734) NA NA NA NA
Change in fair value of equity securities NA 0 0 (244) 0
Stock compensation expense 495 553 623 791 201
Proceeds from sale of loans held for resale 14,453 9,775 11,487 4,301 2,071
Originations of loans held for resale (14,449) (9,467) (11,016) (4,615) (2,045)
Changes in assets and liabilities affecting cash flow
Other assets (2,563) (2,156) (2,975) (3,406) (4,528)
Other liabilities (523) 1,059 (1,766) 2,183 3,476
NET CASH PROVIDED BY OPERATING ACTIVITIES 8,098 11,540 13,480 25,123 4,089
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.