As Reported Financials

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As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Cash flows from operating activities

Net income 6,832 8,569 10,717 12,430

Adjustments to reconcile net income to net cash from operating activities

Depreciation and amortization 1,401 1,309 1,205 1,244
Amortization (accretion), net (75) (194) (476) (343)
Provision for loan losses 1,450 1,150 500 500
Securities amortization, net 975 1,133 1,041 850
Securities (gains) losses, net (412) (287) (52) 65
Net change in trading assets, excluding proceeds from liquidation (161) (61) (114) 0
Proceeds from liquidation of trading assets 0 0 5,706 0
Net increase in cash surrender value of bank-owned life insurance NA 0 0 (198)
Originations of loans held for sale (48,953) (62,275) (56,502) (62,616)
Proceeds from sale of loans 50,593 64,273 57,722 64,204
Gain on sale of loans (1,488) (2,098) (1,727) (1,560)
Stock based compensation expense 133 153 163 175
Losses (gain) on disposal of fixed assets 0 0 (1,200) 9
Losses (gain) on other real estate (5) (128) (33) (173)
Write-downs of other real estate, net 252 187 20 0
Deferred taxes (17) (309) 415 165

Changes in

Interest receivable (73) (34) (236) (199)
Other assets (1,163) 1,624 806 (894)
Interest payable (42) 33 146 55
Other liabilities (1,186) (151) 461 1,837
Net cash from operating activities 8,061 12,894 18,562 15,551

Cash flows from investing activities

Acquisition of Madison Financial Corp., net 3,514 NA NA NA
Net change in interest bearing time deposits (615) (155) 3,199 (345)
Purchases of securities, available for sale (84,479) (145,232) (123,615) (73,504)
Proceeds from sales of securities, available for sale 21,627 23,888 27,121 26,649
Purchase of bank-owned life insurance NA 0 0 (10,000)
Proceeds from principal payments and maturities of securities 71,988 108,949 51,283 45,344
Net change in loans (12,211) (35,357) 5,700 (37,454)
Purchases of bank premises and equipment (737) (462) (2,896) (2,063)
Capitalized expenditures for other real estate 0 0 (47) (74)
Proceeds from sale of other real estate 5,848 4,199 1,377 2,022
Proceeds from sale of bank premises and equipment 7 4 2,102 0
Net cash from investing activities 4,942 (44,166) (35,776) (49,425)

Cash flows from financing activities

Net change in deposits 8,289 44,000 12,292 35,169
Net change in repurchase agreements and other borrowings (188) 2,359 (973) (11,823)
Net change in short-term advances from Federal Home Loan Bank (10,000) 0 8,400 3,200
Long-term FHLB advances 14,709 15,000 13,000 16,394
Payments on long-term FHLB advances (10,661) (10,333) (15,168) (17,874)
Repayment of note payable 5,000 NA NA NA
Payments on note payable (206) (704) (769) (603)
Redemption of acquired preferred shares and unpaid dividends and interest (6,066) NA NA NA
Proceeds from issuance of common stock, including options and grants, including tax benefits 2 49 64 64
Purchase of common stock (31) (668) (263) 0
Dividends paid (2,972) (3,229) (3,447) (3,724)
Net cash from financing activities (2,124) 46,474 13,136 20,803
Net change in cash and cash equivalents 10,879 15,202 (4,078) (13,071)
Cash and cash equivalents at beginning of year 17,169 28,048 43,250 39,172
Cash and cash equivalents at end of year 28,048 43,250 39,172 26,101

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

Interest expense 4,033 4,393 4,868 6,747
Income taxes 200 800 2,400 2,085

Supplemental schedules of non-cash investing activities

Real estate acquired through foreclosure 3,394 3,735 1,897 201
Issuance of common stock in exchange for net assets in acquisition, net of issuance costs 7,939 NA NA NA
Equity securities reclassified to other assets NA 0 0 264
Transfer of premises and equipment to held for sale 0 969 0 0
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.