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 (754) 3,067 (4,911) 10,858 3,013

Adjustments to reconcile net income to net cash provided by (used in) operating activities

Depreciation and amortization of premises and equipment 1,038 787 702 1,219 874
Provision for loan losses 1,472 453 2,734 615 2,250
Net amortization of investment securities available-for-sale 419 496 540 824 576
Net loss on sale of other real estate owned 260 NA NA NA NA
Net cost of operation of other real estate owned NA 331 172 48 20
Net (gain) loss on sale of investment securities available-for-sale 17 (484) (89) (40) 95
Amortization of purchase adjustment on loans (276) (756) (895) (5,191) (2,868)
Amortization of intangible assets 259 340 538 867 582
Amortization of assumed discount on long-term debt NA NA NA NA 59
Deferred income taxes (1,164) 1,134 3,501 2,340 273
Proceeds from sale of loans originated for sale 21,699 28,461 29,602 23,967 10,335
Net gain on sale of loans originated for sale (386) (597) (660) (641) (357)
Loans originated for sale (22,191) (27,422) (28,544) (23,709) (9,677)
Bank owned life insurance investment income (217) (345) (449) (776) (574)
Net change in
Accrued interest receivable (357) (132) (617) 227 259
Other assets 255 (458) (1,851) 568 (1,651)
Accrued interest payable 82 (44) 20 16 (52)
Other liabilities 1,438 (921) (669) 554 (715)

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities

Stock based compensation 32 40 203 9 NA
Net cash provided by operating activities 1,626 3,950 (673) 11,755 2,442

Cash flows from investing activities

Investment securities available-for-sale

Purchases (16,805) (46,006) NA (30,981) (32,058)
Proceeds from repayments 7,596 7,139 5,760 12,844 12,458
Proceeds from sales NA 38,380 18,952 4,825 19,767
Proceeds from the sale of other real estate owned 1,135 1,402 767 174 728
Net (increase) decrease in restricted equity securities (872) 455 859 252 (12)
Net decrease in loans (11,084) (1,176) (163,790) 66,698 10,931
Net cash acquired in business combination NA NA 32,022 NA NA
Business disposition (acquisitions), net of cash 4,585 (895) 329 NA NA
Purchases of premises and equipment (1,496) (615) (1,008) (1,115) (1,321)
Proceeds from sale of equipment NA NA 19 NA NA
Purchase of bank owned life insurance NA (27) (5,023) (21) (22)
Proceeds from bank owned life insurance NA 279 NA NA NA
Net cash provided by investing activities (16,941) (1,064) (111,113) 52,676 10,471

Cash flows from financing activities

Net decrease in deposits 1,673 4,218 135,075 (21,887) (35,010)
Net decrease in short-term borrowings 21,500 (11,075) (25,500) (6,000) NA
Repayment of long-term debt (5,000) (246) (5,322) (6,341) NA
Proceeds from long-term debt 7,350 2,050 600 NA NA
Issuance under ESPP, 401k and DRP plans 46 371 504 517 474
Issuance of common stock NA NA 15,941 NA NA
Proceeds from exercise of stock options 8 NA 411 41 167
Cash dividends paid (1,491) (1,772) (3,257) (2,731) (2,519)
Net cash used in financing activities 22,431 (6,454) 118,452 (36,401) (36,888)

Payment of capital lease

Payment of capital lease (1,655) NA NA NA NA
Net increase (decrease) in cash and cash equivalents 7,116 (3,568) 6,666 28,030 (23,975)
Cash and cash equivalents-beginning 15,572 22,688 19,120 25,786 53,816
Cash and cash equivalents-ending 22,688 19,120 25,786 53,816 29,841

Supplemental disclosures

Cash paid during the period for

Interest 1,847 2,600 3,844 7,949 6,643
Federal income taxes 275 NA NA 300 NA
Income taxes NA NA NA NA 0

Noncash items from operating activities

Initial operating lease right-of-use assets and liabilities NA NA NA NA 4,529

Noncash items from investing activities

Transfer of owned properties to available for sale NA NA NA NA 540

Noncash items from financing activities

Other real estate acquired in settlement of loans 1,171 1,348 358 707 114

Acquisition

Assets acquired excluding cash

Investment securities available-for-sale NA NA 43,869 NA NA
Loans, net NA NA 382,461 NA NA
Accrued interest receivable NA NA 894 NA NA
Premises and equipment NA NA 6,143 NA NA
Other assets NA NA 21,730 NA NA

Liabilities assumed

Deposits NA NA 438,845 NA NA
Long-term debt NA NA 6,801 NA NA
Accrued interest payable NA NA 256 NA NA
Other liabilities NA NA 6,323 NA 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.