As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2012 Y 12/31/2014 USD 2013 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD
Source Document Currency Code 2012 Y 12/31/2014 USD 2013 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 7,759 8,414 10,040 9,029 7,144
Depreciation and amortization 1,431 1,806 2,396 2,530 1,938
Amortization of fair value adjustments, net 122 (761) 304 307 144
Amortization of deferred expenses related to issuance of capital securities and subordinated debt 11 11 20 73 55
Amortization of securities, net 1,038 781 430 286 421
Net decrease (increase) in mortgage servicing rights (337) (532) 303 (64) 198
Loans originated for sale NA (93,039) (45,266) (92,141) (68,500)
Proceeds from loans sold NA 105,576 44,352 92,708 67,694
Increase in cash surrender value of life insurance (545) (626) (635) (636) (690)
Amortization of intangible assets 425 1,000 1,688 1,510 1,018
Net (increase) decrease in loans held-for-sale (8,549) NA NA NA NA
Provision for loan losses 2,705 962 905 1,056 542
Deferred tax (benefit) expense 479 592 1,154 (78) NA
Tax benefit for stock options and awards (25) (30) (2) (38) NA
Increase in accrued interest receivable and other assets 1,082 26 414 48 (1,881)
Net loss on sales and disposals of premises, equipment, investment in real estate, other real estate owned and other assets (40) (6) (197) 70 6
Impairment losses on other real estate owned 183 0 16 84 NA
Write-down of other real estate owned NA NA NA NA 55
Net gain on sales and calls of securities (3,819) (964) (950) (347) (1,543)
Remeasurement gain in equity interest of Charter Holding Corp. 0 (1,369) 0 0 NA
Equity in gain of partially owned Charter Holding Corp. (444) (294) 0 0 NA
Net gain on sales of loans NA (1,234) (406) (755) (630)
Change in deferred loan origination fees and cost, net (1,118) (921) (424) (224) (209)
Increase in accrued expenses and other liabilities 713 1,091 (2,902) 3,555 4,572
Net cash provided by operating activities 1,071 20,483 11,240 16,973 10,334

CASH FLOWS FROM INVESTING ACTIVITIES

Capital expenditures - investments in real estate (503) (5) 0 (7) (13)
Capital expenditures - software (70) (286) (141) (115) (202)
Capital expenditures - premises and equipment (1,297) (4,312) (2,670) (2,352) (1,516)
Purchases of interest-bearing time deposits with other banks (250) 0 (747) 0 NA
Maturities of interest-bearing time deposits with other banks NA 499 1,743 747 0
Proceeds from sales and calls of securities available-for-sale 194,347 125,773 125,802 85,259 67,026
Proceeds from maturities of securities available-for-sale 50,022 89,312 89,993 272,068 44,630
Purchases of securities available-for-sale (223,664) (124,587) (204,318) (362,543) (141,676)
Redemption of Federal Home Loan Bank stock 119 213 1,373 799 1,163
Purchase of Federal Home Loan Bank stock (1,627) 0 (2,375) 0 (3,750)
Capital distribution-Charter Holding Corp., at equity 438 340 0 0 NA
Loan originations and principal collections, net (96,888) (94,515) (64,821) (13,780) (20,197)
Purchases of loans (4,799) (10,479) (9,702) 0 NA
Recoveries of loans previously charged off 596 848 485 818 413
Proceeds from sales of premises, equipment, investment in real estate, other real estate owned and other assets 1,409 874 1,673 507 528
Investment in bank owned life insurance (5,000) 0 0 (10,000) NA
Cash paid to acquire Charter Holding Corporation, net 0 (3,105) 0 0 NA
Cash and cash equivalents acquired from The Nashua Bank, net of expenses and cash paid (1,623) NA NA NA NA
Cash and cash equivalents acquired from Central Financial Corporation, net of expenses and cash paid 0 17,512 0 0 NA
Premiums paid on life insurance policies (13) (13) (8) (10) NA
Net cash (used in) provided by investing activities (88,803) (1,931) (63,713) (28,609) (53,594)

CASH FLOWS FROM FINANCING ACTIVITIES

Net (decrease) increase in demand deposits, savings and NOW accounts 64,159 19,985 62,032 56,051 (4,051)
Net decrease in time deposits (16,320) (30,531) 2,636 (51,367) (11,556)
Net increase in securities sold under agreements to repurchase (895) 10,664 (11,129) 1,201 3,565
Redemption of stock warrants (737) NA NA NA NA
Proceeds from issuance of subordinated debentures, net of issuance costs 0 0 16,380 0 NA
Redemption of preferred stock 0 0 (15,000) (8,000) NA
Net increase (decrease) in short-term advances from Federal Home Loan Bank 15,000 (15,000) 35,000 (1,000) 16,000
Principal advances from Federal Home Loan Bank 45,000 45,000 40,000 30,000 51,180
Repayment of advances from the Federal Home Loan Bank 0 (51,000) (55,750) (20,000) (15,006)
Repayment of other borrowed funds (543) NA NA NA NA
Issuance of common stock from dividend reinvestment plan 0 202 109 61 55
Dividends paid on preferred stock (848) (316) (230) (74) 0
Dividends paid on common stock (3,052) (3,684) (4,127) (4,330) (3,384)
Surrender of stock awards to treasury NA NA NA NA (24)
Proceeds from exercise of stock options 365 514 92 530 0
Forfeiture of stock options NA 0 0 (28) NA
Tax benefit for stock options and awards 25 30 2 38 NA
Net cash provided by (used in) financing activities 102,154 (24,136) 70,015 3,082 36,779
NET DECREASE IN CASH AND CASH EQUIVALENTS 14,422 (5,584) 17,542 (8,554) (6,481)
CASH AND CASH EQUIVALENTS, beginning of period 24,740 39,162 33,578 51,120 42,566
CASH AND CASH EQUIVALENTS, end of period 39,162 33,578 51,120 42,566 36,085

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Interest paid 7,396 6,588 6,610 6,931 5,690
Income taxes paid 3,633 2,902 3,963 2,196 3,238
Loans transferred to other real estate owned 547 330 838 1,169 0
Loans originated from sales of other real estate owned 237 0 496 0 NA
Goodwill adjustments, net 0 41 56 0 NA
Due from broker NA NA NA NA 14,056
Due to broker NA NA NA NA 15,234
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.