As Reported Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Cash flows from operating activities

Net income 9,160 8,892 8,479 14,899 7,754

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

Recapture of provision for loan losses (2,200) 1,300 (400) (4,000) (300)
OREO market value adjustments 41 257 50 0 29
(Gain) loss on sale of OREO property, net (526) 87 (110) 0 NA
Net amortization of premiums and discounts on investments 1,104 908 721 1,022 626
(Gain) loss on sale of investments available-for-sale (92) (50) 567 20 (80)
Depreciation of premises and equipment 809 1,076 1,262 1,630 1,330
Loss on sale of premises and equipment 0 3 65 0 5
Deferred federal income taxes 4,170 1,548 1,738 (281) 320
Allocation of ESOP shares 1,400 1,605 1,941 1,906 1,290
Stock compensation expense 440 621 574 650 457
BOLI income (533) (844) (623) (814) (693)
Changes in operating assets and liabilities
(Increase) decrease in prepaid expenses and other assets 270 (105) (2,829) 2,567 (2,122)
Increase in advance payments from borrowers for taxes and insurance 87 465 256 418 2,110
Increase in accrued interest receivable 297 (179) (937) 16 (339)
(Decrease) increase in accrued interest payable (7) 96 95 152 (96)
Increase in other liabilities 2,295 1,589 1,259 491 348
Net cash provided by operating activities 16,715 17,269 12,108 18,676 10,639

Cash flows from investing activities

Proceeds from sales, calls and maturities of investments available-for-sale 27,327 26,437 44,164 17,159 5,057
Principal repayments on investments available-for-sale 18,651 15,852 10,722 7,078 4,859
Purchases of investments available-for-sale (57,290) (44,561) (58,796) (37,021) (3,534)
Net increase in loans receivable (19,075) (131,271) (173,219) (30,242) (60,646)
Proceeds from sales of OREO properties 6,246 988 1,908 0 NA
Net proceeds from sale or disposal of fixed assets 0 0 7 0 NA
Redemption of FHLB stock 608 (1,894) (1,851) 2,572 969
Purchase of premises and equipment (1,781) (1,833) (2,824) (2,347) (2,350)
Proceeds from BOLI NA NA NA NA 310
Purchase of BOLI (20,000) 0 (4,251) 0 (1,457)
Net cash received from branch acquisition 0 0 71,658 0 NA
Net cash used by investing activities (45,314) (136,282) (112,482) (42,801) (56,792)

Cash flows from financing activities

Net increase in deposits 61,280 42,069 47,497 99,530 77,796
Advances from the FHLB 0 525,000 108,500 187,500 196,500
Repayments of advances from the FHLB (10,000) (479,000) (64,000) (257,000) (222,000)
Proceeds from stock options exercises 935 298 1,309 1,365 0
Net share settlement of stock awards 0 (98) (138) (40) (93)
Repurchase and retirement of common stock (18,717) (40,812) (5,238) (3,153) (6,750)
Dividends paid (3,237) (2,803) (2,777) (3,198) (2,592)
Net cash provided by financing activities 30,261 44,654 85,153 25,004 42,861
Net (decrease) increase in cash and cash equivalents 1,662 (74,359) (15,221) 879 (3,292)
Cash and cash equivalents at beginning of period 104,049 105,711 31,352 16,131 17,010
Cash and cash equivalents at end of period 105,711 31,352 16,131 17,010 13,718

Supplemental disclosures of cash flow information

Cash paid during the period for

Interest paid 6,757 7,411 9,927 14,586 15,540
Federal income taxes paid 228 2,730 3,350 3,890 1,860
Assets acquired in acquisition of branches 0 0 72,329 0 NA
Liabilities assumed in acquisition of branches 0 0 74,657 0 NA

Noncash items

Loans transferred to OREO, net of deferred loan fees and allowance for loan and lease losses (“ALLL”) 141 NA NA NA NA
Change in unrealized loss on investments available-for-sale (1,108) (1,719) 360 (1,814) 2,982
Change in gain on cash flow hedge 0 1,333 192 137 (1,449)
Initial recognition of right-of-use asset NA NA NA NA 1,853
Initial recognition of lease liability NA NA NA NA 1,853
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.