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

Interest and Dividend Income

Loans, including fees 16,484 21,206 30,841 36,862
Investment securities, taxable 3,073 2,824 1,561 1,094
Investment securities, tax-exempt 522 751 492 251
Dividends, restricted stock 311 250 257 467
Interest-bearing cash accounts 72 213 631 1,356
Total Interest and Dividend Income 20,462 25,244 33,782 40,030

Interest Expense

Deposits 3,431 4,537 6,236 9,200
Short-term borrowings 0 0 34 68
Long-term borrowings 1,817 2,195 2,176 2,200
Subordinated debt 0 0 1,000 1,527
Total Interest Expense 5,248 6,732 9,446 12,995
Net Interest Income 15,214 18,512 24,336 27,035
Provision for Loan Losses 90 947 2,791 954
Net Interest Income after Provision for Loan Losses 15,124 17,565 21,545 26,081

Other Income

Service charges and other fees 989 923 992 1,268
Rental income-other 249 211 227 268
Net gains on sale of investments 515 565 463 0
Gain on disposal of fixed assets 0 NA NA NA
Net gains on sale of real estate NA 1 0 1,186
Net gains on sale of loans 102 116 154 102
Earnings on bank-owned life insurance 680 517 505 480
Total Other Income 2,535 2,333 2,341 3,304

Other Expense

Salaries and employee benefits 5,998 6,290 7,114 8,193
Occupancy expense 1,715 1,820 2,084 2,295
Federal deposit insurance premium 784 579 244 298
Advertising 239 131 216 152
Data processing 1,236 1,128 1,195 1,098
Professional fees 1,571 1,683 1,894 2,891
Other real estate owned (income) expense, net (46) 27 (172) 0
Other operating expenses 2,464 2,264 2,572 2,876
Total Other Expenses 13,961 13,922 15,147 17,803
Income before income tax expense (benefit) 3,698 5,976 8,739 11,582
Income tax expense (benefit) (970) (6,174) 2,922 4,276
Net Income 4,668 12,150 5,817 7,306

Earnings Per Common Share

Basic 0.73 1.90 0.90 1.13
Diluted 0 1.90 0.90 1.13

Weighted Average Common Shares Outstanding

Basic 6,393,330 6,409,265 6,431,445 6,456,154
Diluted 0 6,409,325 6,432,137 6,459,510
Dividends Declared Per Share 0.00 NA NA NA

Consolidated Statements of Comprehensive Income

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

Other Comprehensive Income, Net of Tax

Unrealized holding gains (losses) on available-for-sale securities 1,399 2,128 (275) (229)
Tax effect of Unrealized holding gains (losses) on available-for-sale securities (721) (723) 94 48
Net of tax amount of Unrealized holding gains (losses) on available-for-sale securities 2,120 1,405 (181) (181)
Reclassification adjustment for net gains arising during the period (515) (565) (463) 0
Tax effect of Reclassification adjustment for net gains arising during the period 175 192 157 0
Net of tax amount of Reclassification adjustment for net gains arising during the period (340) (373) (306) 0
Accretion of unrealized holding losses on securities transferred from available-for-sale to held-to-maturity 5 9 9 6
Tax effect of Accretion of unrealized holding losses on securities transferred from available-for-sale to held-to-maturity (2) (3) (3) (1)
Net of tax amount of Accretion of unrealized holding losses on securities transferred from available-for-sale to held-to-maturity 3 6 6 5
Fair value adjustment on derivatives (348) (194) 918 868
Tax effect of Fair value adjustment on derivatives 12 172 (312) (203)
Net of tax amount of Fair value adjustment on derivatives (336) (22) 606 665
Total other comprehensive income 726 1,016 125 489
Total comprehensive income 5,394 13,166 5,942 7,795
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