First National Bank

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As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Cash flows from operating activities

Net income 2,740 3,004 2,748 4,160

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

Depreciation of bank premises and equipment 409 416 518 684
Gain on sale of equipment 0 (266) NA NA
Amortization of unearned fees, net 29 64 47 4
Net amortization of premiums and discounts on securities 57 116 329 348
Provision for loan losses 129 87 260 607
Provision for deferred income taxes 57 (150) (332) (208)
Stock based compensation expense 116 154 146 178
Increase in cash value of bank owned life insurance (171) (161) (245) (236)
Valuation loss on OREO
Net decrease (increase) in 43 55 2 0
Accrued interest receivable (75) (92) (129) (150)
Other assets 1,063 307 1,087 539
Net increase in
Accrued interest payable (48) 14 6 27
Other liabilities (315) (440) 23 156
Net cash provided by operating activities 4,034 3,108 4,460 6,109

Cash flows from investing activities

Proceeds from maturities of certificates of deposits 0 490 245 0
Purchases of available-for-sale securities (13,504) (17,916) (24,831) (11,319)
Sale of available-for-sale securities 0 6,292 NA NA
Proceeds from maturities and calls of held-to-maturity securities 570 1,305 1,345 570
Proceeds from maturities and calls of available-for-sale securities 14,849 8,531 3,270 134
Proceeds from paydowns and maturities of available-for-sale mortgage-backed securities 290 736 3,074 4,339
Proceeds from the sale of OREO 1,003 1,683 605 181
Purchase of Federal Reserve Stock (3) (2) (1) (2)
Purchase of Federal Home Loan Bank Stock 0 (8) (62) (4)
Purchase of BOLI NA 0 (3,000) 0
Net increase in loans made to customers (24,524) (35,759) (16,713) (18,264)
Additions to OREO (56) (248) (189) (584)
Disposals of bank premises and equipment 0 929 NA NA
Purchases of bank premises and equipment (747) (4,004) (4,844) (414)
Net cash used in investing activities (22,122) (37,971) (41,101) (25,363)

Cash flows from financing activities

Net increase in demand, savings and NOW deposits 18,976 68,784 4,251 25,812
Net decrease in time deposits (11,777) (1,444) (2,309) (2,219)
Repurchase of common stock (44) NA NA NA
Borrowing (repayments) of note payable to Federal Home Loan Bank NA 0 NA NA
Repayment of line of credit (277) (290) (288) (513)
Cash dividends paid (517) (581) (612) (684)
Net cash provided by financing activities 6,361 66,298 1,042 22,396
Net increase (decrease) in cash and cash equivalents (11,727) 31,435 (35,599) 3,142
Cash and cash equivalents, beginning of year 28,466 16,739 48,174 12,575
Cash and cash equivalents, end of year 16,739 48,174 12,575 15,717

Supplemental disclosure of cash flows information

Cash paid during the year for

Income taxes 875 1,715 1,600 940
Interest 1,661 1,518 1,655 1,861

Supplemental schedule of noncash investing and financing activities

Transfer from loans to foreclosed assets 1,616 436 188 584
Loans charged against the allowance for loan losses 639 405 570 454
Unrealized losses on available-for-sale securities 133 (515) (165) (319)
Defined benefit plan adjustment per ASC topic Compensation-Retirement Benefits (386) (452) 108 (107)
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.
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