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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
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

OPERATING ACTIVITIES

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

INVESTING ACTIVITIES

Available for sales securities

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

Held to maturity securities

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

FINANCING ACTIVITIES

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

CASH AND CASH EQUIVALENTS

Beginning of year 10,898 22,621 13,084 21,330
End of year 22,621 13,084 21,330 39,915

RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES

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

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

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