As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

Cash flows from operating activities

Net income (loss) (754) 3,067 (4,911) 10,858 (687)

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

Depreciation and amortization of premises and equipment 1,038 787 702 1,219 300
Provision for loan losses 1,472 453 2,734 615 583
Stock based compensation 32 40 203 9 NA
Net amortization of investment securities available-for-sale 419 496 540 824 216
Net loss on sale of other real estate owned 260 NA NA NA NA
Net cost (benefit) of operation of other real estate owned NA 331 172 48 127
Net loss on sale of investment securities available-for-sale 17 (484) (89) (40) 42
Amortization of purchase adjustment on loans (276) (756) (895) (5,191) (439)
Amortization of intangible assets 259 340 538 867 194
Deferred income taxes (1,164) 1,134 3,501 2,340 (61)
Proceeds from sale of loans originated for sale 21,699 28,461 29,602 23,967 4,443
Net gain on sale of loans originated for sale (386) (597) (660) (641) (106)
Loans originated for sale (22,191) (27,422) (28,544) (23,709) (4,395)
Bank owned life insurance investment income (217) (345) (449) (776) (187)
Net change in
Accrued interest receivable (357) (132) (617) 227 (8)
Other assets 255 (458) (1,851) 568 (2,613)
Accrued interest payable 82 (44) 20 16 (9)
Other liabilities 1,438 (921) (669) 554 1,363
Net cash provided by (used in) operating activities 1,626 3,950 (673) 11,755 (1,237)

Cash flows from investing activities

Investment securities available-for-sale

Purchases (16,805) (46,006) NA (30,981) (7,647)
Proceeds from repayments 7,596 7,139 5,760 12,844 3,707
Proceeds from sales NA 38,380 18,952 4,825 8,740
Proceeds from the sale of other real estate owned 1,135 1,402 767 174 133
Net decrease in restricted equity securities (872) 455 859 252 46
Net decrease in loans (11,084) (1,176) (163,790) 66,698 15,108
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) (447)
Proceeds from sale of equipment NA NA 19 NA NA
Purchase of bank owned life insurance NA (27) (5,023) (21) NA
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 19,640

Cash flows from financing activities

Net increase (decrease) in deposits 1,673 4,218 135,075 (21,887) (3,564)
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 20
Issuance under ESPP, 401k and DRP plans 46 371 504 517 175
Issuance of common stock NA NA 15,941 NA NA
Proceeds from exercise of stock options 8 NA 411 41 166
Cash dividends paid (1,491) (1,772) (3,257) (2,731) (915)
Net cash provided by (used in) financing activities 22,431 (6,454) 118,452 (36,401) (4,118)

Payment of capital lease

Payment of capital lease (1,655) NA NA NA NA
Net increase in cash and cash equivalents 7,116 (3,568) 6,666 28,030 14,285
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 68,101

Supplemental disclosures

Cash paid during the period for

Interest 1,847 2,600 3,844 7,949 2,216
Federal income taxes 275 NA NA 300 NA

Noncash items from investing activities

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

Noncash items from operating activities

Operating lease right-of-use assets and liabilities NA NA NA NA 3,719

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.