As Reported Financials

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As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD

Cash Flows From Operating Activities

Net Income 7,071 6,832 8,569 10,717 9,494

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

Depreciation NA NA NA NA 939
Depreciation and amortization 1,830 1,401 1,309 1,205 NA
Amortization (accretion), net NA (75) (194) (476) (338)
Securities amortization (accretion), net 638 975 1,133 1,041 669
Stock based compensation expense 111 133 153 163 135
Provision for loan losses 950 1,450 1,150 500 400
Securities losses (gains) available for sale gains, net (966) (412) (287) (52) 8
Net change in trading assets (5,370) (161) (61) (114) 0
Proceeds from liquidation of trading assets NA 0 0 5,706 NA
Net increase in cash surrender value of bank-owned life insurance NA NA NA NA (136)
Originations of loans held for sale (37,043) (48,953) (62,275) (56,502) (47,422)
Proceeds from sale of loans 37,441 50,593 64,273 57,722 46,245
Losses (gains) on sale of bank premises and equipment (2) 0 0 (1,200) 9
Losses (gains) on other real estate (146) (5) (128) (33) (149)
Gain on sale of loans (951) (1,488) (2,098) (1,727) (1,291)
Write-downs of other real estate, net 144 252 187 20 0
Changes in
Interest receivable 319 (73) (34) (236) (187)
Other assets 1,506 (1,163) 1,624 806 (1,247)
Interest payable (94) (42) 33 146 (20)
Deferred taxes 3,048 (17) (309) 415 (2)
Other liabilities (4,637) (1,186) (151) 461 341
Net cash from operating activities 3,849 8,061 12,894 18,562 7,448

Cash Flows From Investing Activities

Acquisition of Madison Financial Corp., net 0 3,514 0 0 NA
Net change in interest bearing time deposits (980) (615) (155) 3,199 (445)
Purchases of securities available for sale (127,326) (84,479) (145,232) (123,615) (21,691)
Purchase of bank owned life insurance NA NA NA NA (10,000)
Proceeds from sales of securities available for sale 73,985 21,627 23,888 27,121 16,707
Proceeds from principal payments, maturities and calls securities available for sale 46,170 71,988 108,949 51,283 36,458
Net change in loans (73,304) (12,211) (35,357) 5,700 (36,988)
Proceeds from redemption of Federal Home Loan Bank Stock 749 NA NA NA NA
Purchases of bank premises and equipment (1,056) (737) (462) (2,896) (1,934)
Proceeds from the sale of bank premises and equipment 2 7 4 2,102 0
Capitalized expenditures for other real estate NA 0 0 (47) (74)
Proceeds from the sale of other real estate 2,053 5,848 4,199 1,377 1,824
Net cash used in investing activities (79,707) 4,942 (44,166) (35,776) (16,143)

Cash Flows From Financing Activities

Net change in deposits 37,468 8,289 44,000 12,292 5,467
Net change in federal funds purchased NA NA NA NA 0
Net change in repurchase agreements (410) (188) 2,359 (973) (11,652)
Net change in short-term Federal Home Loan Bank advances 10,000 (10,000) 0 8,400 3,500
Proceeds from long-term Federal Home Loan Bank advances 38,666 14,709 15,000 13,000 16,394
Repayment of long-term Federal Home Loan Bank advances (12,728) (10,661) (10,333) (15,168) (14,902)
Payments on note payable 0 (206) (704) (769) NA
Redemption of acquired preferred shares and unpaid dividends and interest 0 (6,066) 0 0 NA
Proceeds from issuance of common stock, including options and grants, including tax benefits 2 2 49 64 NA
Repayment of note payable 0 5,000 0 0 (480)
Proceeds from issuance of common stock NA NA NA NA 64
Purchase of common stock (111) (31) (668) (263) 0
Dividends paid (2,721) (2,972) (3,229) (3,447) (2,771)
Net cash (used in) from financing activities 70,166 (2,124) 46,474 13,136 (4,380)
Net change in cash and cash equivalents (5,692) 10,879 15,202 (4,078) (13,075)
Cash and cash equivalents at beginning of period 22,861 17,169 28,048 43,250 39,172
Cash and cash equivalents at end of period 17,169 28,048 43,250 39,172 26,097

Supplemental disclosures of cash flow information Cash paid during the year for

Interest expense 3,850 4,033 4,393 4,868 4,762
Income taxes 1,200 200 800 2,400 1,585

Supplemental disclosures of non-cash investing activities

Securities transactions in process, payable NA NA NA NA 0
Real estate acquired through foreclosure 3,275 3,394 3,735 1,897 201
Issuance of common stock in exchange for net assets in acquisition, net of issuance costs 0 7,939 0 0 NA
Transfer of premises and equipment to held for sale 0 0 969 0 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.