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As Reported Financial Statements


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 Q2 YTD 6/30/2019 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 Q2 YTD 6/30/2019 USD

Net cash provided by operating activities

Net income 8,574 6,920 7,509 11,944 NA

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

Depreciation of premises and equipment 872 1,126 1,277 1,141 NA
Net (accretion) of purchase accounting adjustments 0 (255) (526) (188) NA
Net amortization of securities 432 407 378 260 NA
Net realized (gain) on sale of securities (163) NA NA NA NA
Proceeds from sale of loans in secondary market 6,746 6,455 7,857 11,034 NA
Loans disbursed for sale in secondary market (6,504) (6,228) (7,592) (10,692) NA
Amortization of mortgage servicing rights 93 79 71 55 NA
Gain on sale of loans (335) (306) (336) (397) NA
Amortization of intangible assets 0 68 156 135 NA
Deferred tax (benefit) expense 591 (725) 1,907 (134) NA
Provision for loan losses 1,090 2,826 2,564 1,039 NA
Common stock issued to ESOP 0 575 428 295 NA
Earnings on bank owned life insurance and annuity assets (681) (725) (1,226) (717) NA
(Gain) loss on sale of other real estate owned (99) (22) 134 21 NA
Net write-down of other real estate owned 0 489 55 538 NA
Change in accrued interest receivable (13) (496) (188) (135) NA
Change in accrued liabilities 473 1,461 1,681 1,946 NA
Change in other assets (678) 1,717 347 1,996 NA
Net cash provided by operating activities 10,398 13,366 14,496 18,141 5,022

Investing activities

Net cash acquired from Milton Bancorp, Inc. acquisition 0 1,770 0 0 NA
Proceeds from sales of securities available for sale 10,550 0 0 0 NA
Proceeds from maturities of securities available for sale 15,085 18,591 20,389 21,139 8,532
Purchases of securities available for sale (33,251) (20,256) (25,177) (23,757) (10,035)
Proceeds from maturities of securities held to maturity 3,482 3,089 1,419 1,711 2,218
Purchases of securities held to maturity (626) (1,528) (389) 0 NA
Proceeds from maturities of certificates of deposit in financial institutions 245 490 245 0 NA
Purchase of certificates of deposit in financial institutions (980) (445) (395) (245) (50)
Purchases of restricted investments in bank stocks 0 (566) 0 0 NA
Net change in loans 5,049 (38,299) (37,918) (9,981) (35)
Proceeds from sale of other real estate owned 458 403 1,466 1,132 322
Purchases of premises and equipment (1,950) (1,683) (1,727) (2,725) (3,417)
Proceeds from bank owned life insurance and annuity assets 0 0 2,107 0 NA
Purchases of bank owned life insurance and annuity assets (3,000) 0 (2,200) 0 NA
Net cash used in investing activities (4,938) (38,434) (42,180) (12,726) (2,465)

Financing activities

Change in deposits 13,916 10,150 66,444 (9,930) 823
Proceeds from common stock through dividend reinvestment 0 0 715 1,325 713
Cash dividends (3,665) (3,585) (3,932) (3,967) (1,995)
Proceeds from Federal Home Loan Bank borrowings 400 11,102 4,785 8,000 0
Repayment of Federal Home Loan Bank borrowings (1,671) (1,883) (5,318) (3,162) (2,269)
Change in other long-term borrowings 0 3,899 (459) (989) (763)
Change in other short-term borrowings 113 21 (144) (85) 0
Net cash provided by financing activities 9,093 19,704 62,091 (8,808) (3,491)
Change in cash and cash equivalents 14,553 (5,364) 34,407 (3,393) (934)
Cash and cash equivalents at beginning of period 30,977 45,530 40,166 74,573 71,180
Cash and cash equivalents at end of period 45,530 40,166 74,573 71,180 70,246

Supplemental disclosure

Cash paid for interest 2,784 2,930 3,724 5,008 3,044
Cash paid for income taxes 2,450 1,725 2,236 2,050 890
Proceeds from bank owned life insurance and annuity assets not settled 0 0 1,993 0 NA
Cash paid for amounts included in the measurement of operating lease liabilities NA NA NA NA 146
Transfers from loans to other real estate owned 1,381 957 1,337 547 82
Other real estate owned sales financed by The Ohio Valley Bank Company 189 316 237 0 NA
Issuance of common stock for Milton Bancorp, Inc. acquisition 0 11,444 0 0 NA
Net assets acquired from Milton Bancorp, Inc. acquisition, excluding cash and cash equivalents 0 3,140 0 0 NA
Operating lease right-of-use asset NA NA NA NA 1,190
Operating lease liability NA NA NA NA 1,190
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.