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Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y AR 12/31/2015 USD 2016 Y AR 12/31/2016 USD 2017 Y AR 12/31/2017 USD 2018 Y AR 12/31/2018 USD
Document Name As Of Date Currency Code 2015 Y AR 12/31/2015 USD 2016 Y AR 12/31/2016 USD 2017 Y AR 12/31/2017 USD 2018 Y AR 12/31/2018 USD

Cash flows from operating activities

Net income 2,534 2,790 1,447 3,482

Adjustments to reconcile net income to net cash from operating activities

Provision for loan losses 867 632 644 682
Depreciation and amortization 1,021 1,062 1,023 881
Amortization of premium and accretion of discount on investment securities, net 762 744 620 244
Amortization of debt issuance costs 0 38 43 45
Share based compensation expense 44 282 552 972
Increase in cash surrender value of bank owned life insurance NA 0 (254) (632)
Net securities losses 71 (346) 1,596 50
Increase in accrued interest receivable (401) (715) (323) (649)
Decrease (Increase) in other assets (178) 215 (874) 727
Increase (Decrease) in accrued interest payable and other liabilities 1,767 363 (1,344) 1,030
(Increase) Decrease in deferred income tax (245) (418) 1,687 (153)
Next cash provided by operating activities 6,242 4,647 4,817 6,679

Cash flows from investing activities

Purchases of securities available for sale (85,748) (367,937) (135,367) (21,859)
Sales of securities available for sale 18,920 71,910 77,609 33,877
Calls/redemptions of securities available for sale 14,307 175,433 23,658 14,927
Purchase of securities held to maturity 0 (3,000) (1,750) (195)
Purchase of securities, restricted (11,526) (11,694) (20,351) (8,449)
Sales of securities, restricted 11,776 11,275 21,536 8,225
Net increase in loans (82,180) (32,595) (25,834) (154,122)
Purchase of banking premises and equipment, net of disposals (1,719) (427) (477) (66)
Purchase of bank-owned life insurance NA 0 (20,000) 0
Net cash used by investing activities (136,170) (157,035) (80,976) (127,662)

Cash flows from financing activities

Net increase in deposits 122,908 152,650 141,781 80,402
Increase (decrease) in short-term borrowings (20,041) 413 (26,477) 2,595
Proceeds from exercise of warrants NA 0 950 2,769
Proceeds from exercise of stock options 0 58 64 122
Net proceeds from issuance of subordinated debentures 14,697 NA NA NA
Repurchase and retirement of shares NA 0 (634) (273)
Net cash provided by financing activities 117,564 153,121 115,684 85,615
(Decrease) Increase in cash and cash equivalents (12,364) 733 39,525 (35,368)
Cash and cash equivalents at beginning of period 17,985 5,621 6,354 45,879
Cash and cash equivalents at end of period 5,621 6,354 45,879 10,511

Supplemental information-cash flows

Cash paid for

Interest 1,664 3,322 4,921 9,836
Income taxes 1,845 2,121 2,652 55

Supplemental non-cash disclosures

Net settlement of stock option exercises NA 0 3,315 460
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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