As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 9/30/2017 USD 2016 Y 9/30/2018 USD 2017 Y 9/30/2018 USD 2018 Y 9/30/2018 USD
Source Document Currency Code 2015 Y 9/30/2017 USD 2016 Y 9/30/2018 USD 2017 Y 9/30/2018 USD 2018 Y 9/30/2018 USD

Cash Flows from Operating Activities

Net income 4,668 12,150 5,817 7,306

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

Depreciation expense 646 650 724 758
Provision for loan losses 90 947 2,791 954
Deferred income taxes expense (benefit) (1,035) (6,316) 2,092 3,353
ESOP expense 195 242 311 366
Stock based compensation 0 0 110 142
Amortization of premiums and discounts on investment securities, net 849 1,243 814 360
(Accretion) amortization of loan origination fees and costs 296 748 (924) (77)
Amortization of mortgage service rights 82 73 60 45
Amortization of subordinated debt issuance costs 0 0 39 158
Net gain on sale of investment securities available for sale (515) (565) (463) 0
Net gain on disposal of fixed assets 0 NA NA NA
Net gain on sale of real estate (124) (1) 0 (1,186)
Net gain on sale of secondary market loans (102) (116) (154) (102)
Proceeds on sale of secondary market loans 4,090 6,390 9,270 9,189
Originations of secondary market loans (3,988) (6,274) (9,116) (9,087)
Gain on sale of other real estate owned NA (19) 0 0
Write down of other real estate owned 54 20 0 0
Earnings on bank-owned life insurance (680) (517) (505) (480)
Increase in accrued interest receivable (1,162) (74) (581) (661)
Increase in accrued interest payable 247 31 267 90
(Decrease) increase in other liabilities 349 766 563 (1,631)
Increase in other assets (714) (44) (1,058) (439)
Increase in income tax receivable 0 0 (225) 0
Net Cash Provided by Operating Activities 3,246 9,334 9,832 9,058

Cash Flows from Investing Activities

Investment securities available-for-sale

Purchases (160,103) (2,116) (250) (30,140)
Sales 70,413 62,818 51,119 0
Maturities, calls and principal repayments 6,032 2,437 583 20,123

Investment securities held-to-maturity

Purchases (4,152) NA NA NA
Maturities, calls and principal repayments 4,454 16,391 5,350 4,545
(Loan originations) and principal collections, net (5,927) (184,548) (262,039) (68,682)
Proceeds from sale of other real estate owned 1,174 1,167 0 0
Additions to mortgage servicing rights (30) NA NA NA
Proceeds from death benefit of bank-owned life insurance 0 1,049 0 0
Net increase in restricted stock (1,262) (659) (135) (2,979)
Proceeds from sale of real estate 0 1 0 1,315
Purchases of property and equipment (358) (752) (1,594) (561)
Net Cash Used in Investing Activities (89,759) (104,212) (206,966) (76,379)

Cash Flows from Financing Activities

Net (decrease) increase in deposits 52,569 136,524 188,350 (16,233)
Proceeds for long-term borrowings 93,000 121,000 140,000 140,000
Repayment of long-term borrowings (38,000) (106,000) (140,000) (140,000)
Increase in other borrowed money 0 0 10,000 0
Repayment of other borrowed money 0 0 (5,000) (2,500)
Decrease in advances from borrowers for taxes and insurance 20 (147) (106) (248)
Net proceeds from issuance of subordinated debt 0 0 24,264 0
Net Cash (Used in) Provided by Financing Activities 107,589 151,377 217,508 (18,981)
Net (Decrease) Increase in Cash and Cash Equivalents 21,076 56,499 20,374 (86,302)
Cash and Cash Equivalent - Beginning 19,187 40,263 96,762 117,136
Cash and Cash Equivalent - Ending 40,263 96,762 117,136 30,834

Supplementary Cash Flows Information

Interest paid 5,001 6,701 9,179 12,904
Income taxes paid 0 0 130 2,630
Non-cash transfer of loans to other real estate owned 308 NA NA NA
Transfer from investment securities available-for-sale to investment securities held-to-maturity 57,523 NA NA NA
Non-cash proceeds from death benefit on BOLI 1,039 NA 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.