two businessmen chatting while walking.

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 3,887 6,406 6,993 17,589 9,992

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

Provision for loan losses 2,669 2,697 2,675 3,447 3,644
Depreciation and amortization of premises and equipment 538 566 611 1,130 968
Amortization and accretion of premiums/discounts on investment securities, net 635 613 595 500 319
Amortization and accretion of fair value adjustments, net (761) (339) (650) (1,670) (928)
Amortization and accretion of deferred loan fees and costs, net (718) (1,122) (1,437) (1,562) (862)
Amortization of intangible assets 70 62 103 274 174
Amortization of subordinated debentures issuance cost 71 108 107 108 81
Stock-based compensation 201 317 433 788 701
Gains on sale of investment securities available for sale (11) (25) 0 (3) 0
Proceeds from sales of loans held for sale 0 NA NA NA NA
Proceeds from sale of loans NA 0 6,151 17,583 0
Gains on sale of loans 0 0 (296) (335) (55)
Gains on sale of other real estate owned, net 34 31 (24) (200) (81)
Writedowns of other real estate owned 498 137 487 387 79
Income from bank-owned life insurance (425) (496) (739) (1,044) (818)
Increase in deferred income taxes (893) (369) 5,333 (1,959) 0

Changes in assets and liabilities

Decrease (increase) in accrued interest receivable (332) (517) (737) (41) 75
Increase in other assets (896) 705 (3,744) 566 (9,690)
Increase in accrued interest payable 275 24 143 24 362
Increase in other liabilities 297 362 527 1,339 10,289
Net cash provided by operating activities 5,139 9,160 16,531 36,921 14,250

Cash flows from investing activities

Net (increase) decrease in interest bearing time deposits with banks 1,058 (3,315) 3,327 218 (792)
Net loan originations (141,579) (208,574) (159,906) (171,025) (135,323)
Purchases of investment securities available for sale (20,500) (26,801) (21,330) (3,000) NA
Purchases of investment securities held to maturity (23,222) (5,250) (4,500) (2,000) (2,250)
Proceeds from sales of investment securities available for sale 7,123 18,794 0 18,732 0
Proceeds from maturities, calls and paydowns of investment securities available for sale 7,613 5,859 5,762 13,399 5,441
Proceeds from maturities, calls and paydowns of investment securities held to maturity 3,976 4,746 4,773 5,711 8,601
Net purchases of restricted stocks (558) (2,028) (463) (347) (1,636)
Purchases of other investments NA 0 0 (149) (137)
Proceeds from sales of other real estate owned 164 719 1,127 1,044 765
Purchases of bank-owned life insurance 0 (5,999) (8,000) (9,500) (6,000)
Purchases of premises and equipment (539) (459) (428) (1,793) (842)
Cash and cash equivalents acquired in acquisition 0 0 11,757 8,041 30,777
Net cash used in investing activities (166,464) (222,308) (167,881) (140,669) (101,396)

Cash flows from financing activities

Net increase in deposits 142,640 155,977 116,991 118,083 88,517
Proceeds from borrowings 10,000 78,510 80,562 137,106 107,000
Repayments of borrowings 0 (38,000) (70,257) (138,570) (72,875)
Proceeds from issuance of subordinated debentures 21,462 NA NA NA NA
Proceeds from exercises of stock options 177 204 765 638 113
Tax benefit from stock option exercises 7 6 0 0 NA
Cash dividends paid on common stock 0 0 (1,106) (2,200) (1,686)
Proceeds from sale of common stock 0 13,409 37,484 743 0
Net cash provided by financing activities 174,286 210,106 164,439 115,800 121,069
Net increase in cash and cash equivalents 12,961 (3,042) 13,089 12,052 33,923
Cash and cash equivalents at beginning of period 20,370 33,331 30,289 43,378 55,430
Cash and cash equivalents at end of period 33,331 30,289 43,378 55,430 89,353

Supplemental disclosures of cash flow information

Cash paid for interest on deposits and borrowings 6,666 9,400 11,183 17,770 18,598
Cash paid for income taxes 2,634 2,875 5,581 4,185 2,760

Supplemental schedule of non-cash investing activities

Transfer of loans to other real estate owned 0 622 435 445 455
Transfer of loans from held for sale to loans receivable NA 0 0 8,070 0

Acquisitions

Non-cash assets acquired

Interest bearing time deposits with banks NA 0 0 2,030 0
Investment securities available for sale 0 0 1,142 19,577 NA
Investment securities NA NA NA NA 5,003
Restricted investment in bank stocks 0 0 936 167 897
Loans held for sale 0 0 3,317 23,058 0
Loans 0 0 170,861 55,683 146,255
Premises and equipment 0 0 2,728 4,443 1,180
Other real estate owned 0 0 1,017 1,058 717
Accrued interest receivable 0 0 518 389 527
Core deposit and other intangibles 0 0 796 720 931
Deferred tax asset 0 0 2,559 2,535 2,187
Other assets 0 0 384 416 1,530
Total non-cash assets acquired 0 0 184,258 110,076 159,227

Liabilities assumed

Deposits 0 0 155,226 108,151 170,906
Borrowings 0 0 20,091 0 NA
Accrued interest payable 0 0 209 33 106
Other liabilities 0 0 1,314 1,148 3,380
Total liabilities assumed 0 0 176,840 109,332 174,392
Net non-cash assets acquired 0 0 7,418 744 (15,165)
Cash and cash equivalents acquired 0 0 11,757 8,041 30,777
Goodwill recorded in acquisition 0 0 10,497 5,577 2,798
Common stock issued in acquisition 0 0 29,672 14,362 18,410
Number of common stock shares issued in acquisition 0 0 2,402,563 1,022,106 1,699,941

Supplemental schedule of non-cash financing activities

Common stock dividends declared but not paid 0 228 0 0 NA
Vesting of restricted stock 0 44 69 106 156
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.