As Reported Financial Statements

 

As Reported Financials

Source Document Currency Code (in units) 2014 Y 9/30/2016 USD 2015 Y 9/30/2017 USD 2016 Y 9/30/2017 USD 2017 Y 9/30/2017 USD 2018 Q3 YTD 6/30/2018 USD
Source Document Currency Code 2014 Y 9/30/2016 USD 2015 Y 9/30/2017 USD 2016 Y 9/30/2017 USD 2017 Y 9/30/2017 USD 2018 Q3 YTD 6/30/2018 USD

Cash flows from operating activities

Net income 5,955,133 5,572,162 11,863,320 14,436,105 14,292,625

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

Provision for non-acquired loan losses 300,000 NA NA NA NA
Provision for loan losses (1,012,560) 0 (250,000) (900,000) (350,000)
Provision for FDIC receivable impairment 521,637 2,541,571 0 0 NA
Depreciation and amortization 1,395,958 1,523,576 1,476,203 1,767,056 1,594,476
Deferred income tax expense 2,560,568 1,857,217 1,050,103 (55,836) 2,915,402
Accretion and amortization of premiums and discounts, net 2,010,148 1,331,456 935,454 1,005,786 625,330
Accretion of fair value discounts related to acquired loans (6,593,660) (5,945,546) (4,371,088) (1,741,625) (1,710,274)
Accretion of fair value discounts related to FDIC receivable (347,347) (106,668) 0 0 NA
Amortization of FDIC loss share receivable 3,507,017 2,387,205 0 0 NA
Write down of asset held for sale 0 87,500 325,004 0 NA
Gain on sale of loans (1,103,586) (1,612,335) (2,118,012) (2,418,272) (1,640,090)
Proceeds from sale of loans 43,420,429 64,715,797 87,666,768 100,316,278 58,927,681
Originations and purchases of loans held for sale (42,514,172) (62,455,642) (86,590,036) (97,410,377) (57,519,717)
Gain on sale of mortgage-backed securities, collateralized mortgage obligations and other investments (200,704) 27,209 (48,885) (247,780) (1,074)
Write down of real estate owned 523,104 246,891 163,741 29,487 88,674
Gain on sale of real estate owned (298,170) (397,392) (900,054) (624,304) (191,202)
(Gain) loss on sale of fixed assets 0 (7,500) 61,464 46,556 (265,806)
Restricted stock award expense 662,747 792,619 784,280 797,976 621,149
Stock option expense 291,512 330,995 330,783 327,978 240,655
Increase in cash surrender value of bank owned life insurance (1,252,246) (1,245,382) (1,225,422) (1,195,445) (1,029,880)
Gain on settlement of bank owned life insurance 0 0 (266,696) 0 NA
Donation of other real estate owned 0 0 21,500 0 NA
Changes in assets and liabilities
Increase in accrued interest and dividends receivable 269,555 (209,059) 65,220 (286,757) (156,994)
Decrease (increase) in other assets (647,711) 905,410 4,240,625 2,499,704 1,314,233
(Decrease) increase in other liabilities 1,383,037 8,207,370 (4,952,556) 2,904,494 (1,605,145)
Net cash provided by operating activities 8,830,689 18,547,454 8,261,716 19,251,024 16,150,043

Cash flows from investing activities

Proceeds from sales of investment securities available for sale 9,906,708 14,024,154 22,031,385 6,578,436 13,336
Principal collections on investment securities available for sale 24,782,146 23,907,354 20,133,338 17,898,916 25,570,967
Purchase of investment securities available for sale (23,863,931) (39,599,793) (46,442,903) (30,163,566) (14,874,249)
Proceeds from maturities or calls of investment securities available for sale 15,385,400 6,774,050 4,500,000 24,107,490 12,290,000
Proceeds from redemption of Federal Home Loan Bank stock 497,400 437,300 2,932,600 0 NA
Purchase of Federal Home Loan Bank stock 0 (510,000) (2,233,500) (122,800) (20,800)
Net decrease in certificates of deposit held at other financial institutions 0 0 10,699,000 6,966,000 3,473,000
Net increase in loans receivable (25,733,580) (105,753,423) 24,075,918 (25,405,525) (467,634)
Net decrease in FDIC receivable 15,710,013 5,266,794 0 0 NA
Principal reductions of OREO 180,089 58,891 0 0 NA
Proceeds from sale of real estate owned 14,509,181 7,676,904 3,631,676 3,218,354 1,545,302
Proceeds from sale of premises and equipment 547,030 7,500 354,499 259,104 905,806
Purchase of bank owned life insurance (6,100,000) NA NA NA NA
Proceeds from settlement of bank owned life insurance 0 0 646,655 0 NA
Purchases of premises and equipment, net of dispositions (383,563) (413,744) (1,593,035) (1,541,402) (323,488)
Net cash received (paid) in acquisitions 0 0 (42,520,560) 5,421,379 NA
Net cash provided by (used in) investing activities 25,436,893 (88,124,013) (3,784,927) 7,216,386 28,112,240

Cash flows from financing activities

Repurchase of shares (53,238,798) (25,505,196) (13,171,257) (1,881) (263,005)
Issuance of common stock 0 0 126,457 624,933 508,553
Dividends paid (4,171,876) (3,134,319) (2,875,816) (3,578,627) (3,475,648)
Taxes paid in net settlement of tax obligation upon exercise of stock options NA NA NA NA (728,181)
Net (decrease) increase in deposits (34,104,468) 21,662,876 89,531,372 39,616,719 (21,153,334)
Proceeds from Federal Home Loan Bank advances 0 12,000,000 97,000,000 27,000,000 1,000,000
Principal payments on Federal Home Loan Bank advances (5,000,000) (5,000,000) (114,000,000) (27,000,000) (1,000,000)
Principal payments on other borrowings NA 0 0 (3,250,000) NA
Net (decrease) increase in advance payments by borrowers for taxes and insurance 258,032 433,470 418,729 610,336 (590,179)
Net cash (used in) provided by financing activities (96,257,110) 456,831 57,029,485 34,021,480 (25,701,794)
Net increase in cash and cash equivalents (61,989,528) (69,119,728) 61,506,274 60,488,890 18,560,489
Cash and cash equivalents at beginning of period 161,452,481 99,462,953 30,343,225 91,849,499 152,338,389
Cash and cash equivalents at end of period 99,462,953 30,343,225 91,849,499 152,338,389 170,898,878

Supplemental disclosures of cash flow information

Interest paid 5,747,739 4,973,645 5,141,621 6,724,552 6,196,430
Income taxes paid (81,290) 409,920 2,547,438 2,822,286 3,463,059

Supplemental disclosure of noncash activities

Real estate acquired through foreclosure of collateral on loans receivable 6,527,381 3,237,134 1,757,886 1,354,421 232,960
Write down of real estate owned reimbursed by the FDIC 1,330,943 (830,225) 0 0 NA
Gain on real estate sold payable to the FDIC 1,349,675 1,273,132 0 0 NA
Issuance of common stock under stock benefit plan 592,857 561,259 661,364 684,018 1,021,663
Unrealized loss on investment securities available for sale, net 1,085,458 1,358,221 499,795 (2,241,533) (2,009,664)

Fair value of assets and liabilities from acquisition

Fair value of tangible assets acquired 0 0 373,488,036 166,420,602 NA
Other intangible assets acquired 0 0 28,366,473 11,089,622 NA
Fair value of liabilities assumed 0 0 (345,948,385) (151,734,911) NA
Total merger consideration 0 0 55,906,124 25,775,313 NA
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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We are publicly traded on the NASDAQ under the symbol CHFN.

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Routing Number: 261170876
NMLS Number: 171693

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