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
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

Cash Flows from Operating Activities

Net income 1,996 2,900 3,394 4,728

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

Provision for loan losses 405 994 473 220
Provision for depreciation and amortization 598 573 608 484
Amortization of debt issuance costs 0 20 20 20
Amortization of securities, net 474 512 398 374
Gain on sale of loans (3,323) (4,249) (4,110) (3,918)
Proceeds from sale of loans 115,102 155,607 154,904 161,680
Loans originated for sale (116,219) (157,689) (146,228) (160,494)
Deferred loan fees, net (80) 75 95 62
Loss (gain) on sale/call of securities (2) (72) (1) 100
Loss on sale of fixed assets 4 NA NA NA
Loss on sale of foreclosed real estate 0 (76) 0 60
Deferred income taxes 215 (257) 239 105
Stock-based compensation expense 132 187 149 173
Net increase in cash surrender value of bank-owned life insurance (181) (173) (165) (191)
Increase in accrued interest receivable and other assets (994) (166) (393) (1,163)
Increase in other liabilities (273) 572 191 374
Net Cash Provided by Operating Activities (2,146) (1,242) 9,574 2,614

Cash Flows from Investing Activities

Proceeds from sales of available-for-sale securities 2,052 10,453 0 6,877
Proceeds from calls, paydowns and maturities of securities available-for-sale 8,399 8,746 7,585 9,939
Purchase of securities available-for-sale (43,023) (3,521) (12,887) (20,287)
Net (purchase) sale of investment in restricted bank stocks (405) (392) 441 (198)
Net increase in loans (21,813) (47,564) (43,594) (30,674)
Purchase of Bank Owned Life Insurance NA NA 0 (2,255)
Purchases of property and equipment (515) (321) (415) (2,081)
Proceeds from sale of property and equipment 2 NA NA NA
Proceeds from sale of foreclosed real estate 0 769 121 324
Net Cash Used in Investing Activities (55,303) (31,830) (48,749) (38,355)

Cash Flows from Financing Activities

Net increase in deposits 46,632 27,825 40,772 32,090
Net increase (decrease) in short-term borrowings (3,640) 8,877 (7,486) 8,279
Proceeds of long-term borrowings 20,000 2,083 5,500 3,125
Payments of long-term borrowings 0 (5,000) (7,500) (7,000)
Deferred subordinated debt issuance cost (84) NA NA NA
Cash dividends paid to preferred shareholders (13) NA NA NA
Redemption of preferred stock (5,115) NA NA NA
Proceeds from issuance of common stock 15 17 9,501 140
Common stock retired (21) (22) (59) (14)
Net Cash Provided by Financing Activities 57,774 33,780 40,728 36,620
Net increase in cash and cash equivalents 325 708 1,553 879
Cash and Cash Equivalents, Beginning of Year 4,858 5,183 5,891 7,444
Cash and Cash Equivalents, End of Year 5,183 5,891 7,444 8,323

Supplementary Cash Flows Information

Interest paid 2,516 2,708 3,021 4,252
Income taxes paid 835 1,155 1,465 1,233
Loans transferred to foreclosed real estate 247 801 213 191
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.