As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD

Cash Flows from Operating Activities

Net income 1,924 1,996 2,900 3,394

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

Provision for loan losses 256 405 994 473
Provision for depreciation and amortization 574 598 573 608
Amortization of debt issuance costs NA 0 20 20
Amortization of securities, net 340 474 512 398
Gain on sale of loans (1,897) (3,323) (4,249) (4,110)
Proceeds from sale of loans 75,997 115,102 155,607 154,904
Loans originated for sale (75,111) (116,219) (157,689) (146,228)
Deferred loan fees, net (10) (80) 75 95
Gain on sale/call of securities (12) (2) (72) (1)
Loss on sale of fixed assets 0 4 NA NA
Gain on sale of foreclosed real estate NA 0 (76) 0
Deferred income tax (benefit) expense (126) 215 (257) 239
Stock-based compensation expense 96 132 187 149
Net increase in cash surrender value of bank-owned life insurance (149) (181) (173) (165)
Increase in accrued interest receivable and other assets 108 (994) (166) (393)
Increase in other liabilities (191) (273) 572 191
Net Cash Provided by (Used in) Operating Activities 1,799 (2,146) (1,242) 9,574

Cash Flows from Investing Activities

Proceeds from sales of available-for-sale securities 2,287 2,052 10,453 0

Proceeds from calls, paydowns and maturities of securities availablefor-sale

Total 6,191 8,399 8,746 7,585
Purchase of securities available-for-sale (4,220) (43,023) (3,521) (12,887)
Net sale (purchase) of investment in restricted bank stocks (88) (405) (392) 441
Net increase in loans (16,943) (21,813) (47,564) (43,594)
Purchases of property and equipment (1,559) (515) (321) (415)
Proceeds from sale of property and equipment 17 2 NA NA
Purchase of bank owned life insurance (2,000) NA NA NA
Proceeds from sale of foreclosed real estate 880 0 769 121
Net Cash Used in Investing Activities (15,435) (55,303) (31,830) (48,749)

Cash Flows from Financing Activities

Net increase in deposits 2,889 46,632 27,825 40,772
Net (decrease) increase in short-term borrowings 3,640 (3,640) 8,877 (7,486)
Proceeds of long-term borrowings 11,750 20,000 2,083 5,500
Payments of long-term borrowings (4,750) 0 (5,000) (7,500)
Deferred subordinated debt issuance cost 0 (84) NA NA
Cash dividends paid to preferred shareholders (51) (13) NA NA
Redemption of preferred stock 0 (5,115) NA NA
Proceeds from issuance of common stock 51 15 17 9,501
Common stock retired (21) (21) (22) (59)
Net Cash Provided by Financing Activities 13,508 57,774 33,780 40,728
Net increase in cash and cash equivalents (128) 325 708 1,553
Cash and Cash Equivalents, Beginning of Year 4,986 4,858 5,183 5,891
Cash and Cash Equivalents, End of Year 4,858 5,183 5,891 7,444

Supplementary Cash Flows Information

Interest paid 1,931 2,516 2,708 3,021
Income taxes paid 795 835 1,155 1,465
Loans transferred to foreclosed real estate 0 247 801 213
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.