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As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD

OPERATING ACTIVITIES

Interest received 34,707 35,044 39,570 47,028
Fees received 12,505 12,719 11,839 13,419
Interest paid (3,607) (3,896) (4,627) (5,631)
Cash paid to employees and vendors (29,418) (32,658) (33,876) (37,778)
Cash contributed to pension plan (110) (165) (140) (1,000)
Income taxes paid (2,858) (2,950) (1,534) (3,029)
Proceeds from sale of loans held for resale 15,471 14,453 9,775 11,487
Originations of loans held for resale (15,669) (14,449) (9,467) (11,016)
Net cash provided by operating activities 11,021 8,098 11,540 13,480

INVESTING ACTIVITIES

Available for sales securities

Purchases (15,379) (28,961) (25,953) (65,889)
Proceeds from maturities, calls, and payments 20,217 26,760 25,230 13,014

Held to maturity securities

Purchases (618) (637) (866) (4,345)
Proceeds from maturities, calls, and payments 1,403 619 500 995
Proceeds from property insurance 0 1,183 0 0
Cash paid for bank owned life insurance NA 0 0 (6,000)
Additions to properties and equipment (580) (1,888) (1,452) (483)
Purchase of tax credit investment (1,912) (1,100) (2,078) (3,102)
Acquisitions 0 0 (325) (275)
Net increase in loans (47,941) (78,441) (167,901) (120,438)
Net cash used in investing activities (44,810) (82,465) (172,845) (186,523)

FINANCING ACTIVITIES

Proceeds from (repayments of) short-term borrowings, net 14,128 (16,657) 17,538 59,180
Proceeds from long-term borrowings 0 10,000 0 0
Repayment of long-term borrowings (9,000) NA NA NA
Net increase in deposits 1,023 95,347 136,992 111,255
Dividends paid (2,735) (3,049) (3,258) (3,819)
Repurchase of treasury stock (1,436) (210) (80) (342)
Issuance of common stock 238 216 499 14,804
Reissuance of treasury stock 515 443 77 211
Net cash provided by financing activities 2,733 86,090 151,768 181,289
Net increase (decrease) in cash and equivalents (31,056) 11,723 (9,537) 8,246

CASH AND CASH EQUIVALENTS

Beginning of year 41,954 10,898 22,621 13,084
End of year 10,898 22,621 13,084 21,330

RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES

Net income 8,187 7,843 8,272 10,479

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

Depreciation and amortization 1,573 1,513 1,554 1,762
Deferred tax expense (benefit) (1,460) 980 (71) 3,150
Provision for loan losses 1,229 1,216 1,209 738
Net loss on tax credit investment 2,596 0 905 1,154
Gain on loans sold (203) (133) (93) (156)
Gain on proceeds from insurance 0 (734) 0 0
Stock compensation expense 465 495 553 623
Proceeds from sale of loans held for resale 15,471 14,453 9,775 11,487
Originations of loans held for resale (15,669) (14,449) (9,467) (11,016)
Changes in assets and liabilities affecting cash flow
Other assets (2,919) (2,563) (2,156) (2,975)
Other liabilities 1,751 (523) 1,059 (1,766)
NET CASH PROVIDED BY OPERATING ACTIVITIES 11,021 8,098 11,540 13,480
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.