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 2019 Q2 YTD 6/30/2019 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 2019 Q2 YTD 6/30/2019 USD

INTEREST INCOME

Loans, including fees 27,064 30,000 30,918 34,063 17,915

Securities

Taxable 2,951 3,362 4,618 6,023 3,524
Tax exempt 2,680 2,618 2,411 1,829 609
Trading Assets 170 153 108 0 NA
Other 320 421 604 717 491
Total interest income 33,185 36,554 38,659 42,632 22,539

INTEREST EXPENSE

Deposits 2,024 2,211 2,694 4,241 3,149
Repurchase agreements and federal funds purchased 100 108 123 133 37
Federal Home Loan Bank advances 1,579 1,620 1,697 1,910 1,090
Note payable 109 233 190 153 65
Subordinated debentures 238 254 310 365 200
Total interest expense 4,050 4,426 5,014 6,802 4,541
Net interest income 29,135 32,128 33,645 35,830 17,998
Provision for loan losses 1,450 1,150 500 500 450
Net interest income after provision 27,685 30,978 33,145 35,330 17,548

NON-INTEREST INCOME

Service charges 4,408 5,086 5,113 5,266 2,591
Loan service fee income, net 206 71 315 233 104
Trust department income 1,056 1,086 1,183 1,348 675
Gain (loss) on sale of available for sale securities, net 412 287 52 (65) 114
Gain (loss) on trading assets, net (9) (92) 6 0 NA
Gain on sale of loans 1,488 2,098 1,727 1,560 528
Brokerage income 597 778 818 665 271
Debit card interchange income 2,477 2,740 3,045 3,273 1,693
Gain (loss) on sale of bank premises and equipment 0 0 1,200 (9) NA
Net increase in cash surrender value of bank-owned life insurance NA 0 0 262 173
Other 849 95 349 430 186
Total other income 11,484 12,149 13,808 12,963 6,335

NON-INTEREST EXPENSE

Salaries and employee benefits 16,583 17,930 18,002 18,938 9,373
Occupancy expenses 3,781 3,772 3,773 3,944 2,038
Repossession expenses, net 416 401 208 98 82
FDIC Insurance 576 526 349 307 149
Legal and professional fees 1,050 1,628 1,082 908 464
Data processing 1,427 1,627 1,714 1,953 1,215
Debit card expenses 1,287 1,311 1,667 1,767 1,059
Amortization expense of intangible assets, excluding mortgage servicing right 205 247 160 130 57
Advertising and marketing 1,003 925 726 859 446
Taxes other than payroll, property and income 904 1,134 1,188 1,215 649
Telephone 317 345 387 370 211
Postage 379 357 359 310 63
Loan fees 334 198 189 158 31
Acquisition expense 858 NA NA NA NA
Other 2,687 3,384 3,269 3,252 1,706
Total other expenses 31,807 33,785 33,073 34,209 17,543
Income before income taxes 7,362 9,342 13,880 14,084 6,340
Provision for income taxes 530 773 3,163 1,654 292
Net income 6,832 8,569 10,717 12,430 6,048

Earnings per share

Basic 2.40 1.43 1.81 2.09 1.01
Diluted 2.40 1.43 1.81 2.09 1.01

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Net income 6,832 8,569 10,717 12,430 6,048

Other comprehensive income (loss)

Unrealized gains (losses) on securities arising during the period (242) (1,706) 199 (3,205) 6,356
Reclassification of realized amount (412) (287) (52) 65 (114)
Net change in unrealized gain (loss) on securities (654) (1,993) 147 (3,140) 6,242
Less - Tax impact 222 678 (24) 659 (1,311)
Other comprehensive income (loss) (432) (1,315) 123 (2,481) 4,931
Comprehensive income 6,400 7,254 10,840 9,949 10,979
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