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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 2018 Q3 YTD 9/30/2018 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 2018 Q3 YTD 9/30/2018 USD

OPERATING ACTIVITIES

Interest received 34,707 35,044 39,570 47,028 42,157
Fees received 12,505 12,719 11,839 13,419 10,897
Interest paid (3,607) (3,896) (4,627) (5,631) (6,221)
Cash paid to employees and vendors (29,418) (32,658) (33,876) (37,778) (30,188)
Cash contributed to pension plan (110) (165) (140) (1,000) 0
Income taxes refund (paid) (2,858) (2,950) (1,534) (3,029) 475
Proceeds from sale of loans held for resale 15,471 14,453 9,775 11,487 409
Originations of loans held for resale (15,669) (14,449) (9,467) (11,016) (1,686)
Net cash provided by operating activities 11,021 8,098 11,540 13,480 15,843

INVESTING ACTIVITIES

Available for sales securities

Purchases (15,379) (28,961) (25,953) (65,889) (47,863)
Proceeds from maturities, calls, and payments 20,217 26,760 25,230 13,014 54,476

Held to maturity securities

Purchases (618) (637) (866) (4,345) (156)
Proceeds from maturities, calls, and payments 1,403 619 500 995 4,120
Proceeds from property insurance 0 1,183 0 0 NA
Cash paid for bank-owned life insurance NA 0 0 (6,000) 0
Proceeds from bank-owned life insurance claims NA NA NA NA 675
Additions to properties and equipment (580) (1,888) (1,452) (483) (757)
Proceeds from equity securities sales NA NA NA NA 1,960
Purchase of tax credit investment (1,912) (1,100) (2,078) (3,102) (3,877)
Insurance agency acquisitions 0 0 (325) (275) (5,000)
Net increase in loans (47,941) (78,441) (167,901) (120,438) (90,665)
Net cash used in investing activities (44,810) (82,465) (172,845) (186,523) (87,087)

FINANCING ACTIVITIES

(Repayments) proceeds of short-term borrowings, net 14,128 (16,657) 17,538 59,180 (84,560)
Proceeds from long-term borrowings 0 10,000 0 0 NA
Repayment of long-term borrowings (9,000) NA NA NA NA
Net increase in deposits 1,023 95,347 136,992 111,255 164,394
Dividends paid (2,735) (3,049) (3,258) (3,819) (2,202)
Repurchase of treasury stock (1,436) (210) (80) (342) 0
Issuance of common stock 238 216 499 14,804 404
Reissuance of treasury stock 515 443 77 211 0
Net cash provided by financing activities 2,733 86,090 151,768 181,289 78,036
Net increase in cash and cash equivalents (31,056) 11,723 (9,537) 8,246 6,792

CASH AND CASH EQUIVALENTS

Beginning of period 41,954 10,898 22,621 13,084 21,330
End of period 10,898 22,621 13,084 21,330 28,122

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

Net income 8,187 7,843 8,272 10,479 11,905

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

Depreciation and amortization 1,573 1,513 1,554 1,762 1,352
Deferred tax expense (1,460) 980 (71) 3,150 414
Provision for loan losses 1,229 1,216 1,209 738 1,678
Loss on tax credit investment 2,596 0 905 1,154 165
Refundable state historic tax credit received (accrued) NA NA NA NA 2,101
Loss on sales of equity securities NA NA NA NA 98
Gain on loans sold (203) (133) (93) (156) (6)
Gain on proceeds from insurance 0 (734) 0 0 NA
Change in fair value of equity securities NA NA NA NA (245)
Stock compensation expense 465 495 553 623 597
Proceeds from sale of loans held for resale 15,471 14,453 9,775 11,487 409
Originations of loans held for resale (15,669) (14,449) (9,467) (11,016) (1,686)
Cash contributed to pension plan NA NA NA NA 0
Changes in assets and liabilities affecting cash flow
Other assets (2,919) (2,563) (2,156) (2,975) (3,262)
Other liabilities 1,751 (523) 1,059 (1,766) 2,323
NET CASH PROVIDED BY OPERATING ACTIVITIES 11,021 8,098 11,540 13,480 15,843
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.