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 Q1 YTD 3/31/2019 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 Q1 YTD 3/31/2019 USD

INTEREST INCOME

Loans, including fees 27,064 30,000 30,918 34,063 8,800

Securities

Taxable 2,951 3,362 4,618 6,023 1,829
Tax exempt 2,680 2,618 2,411 1,829 333
Trading Assets 170 153 108 0 NA
Other 320 421 604 717 217
Total interest income 33,185 36,554 38,659 42,632 11,179

INTEREST EXPENSE

Deposits 2,024 2,211 2,694 4,241 1,537
Repurchase agreements and federal funds purchased 100 108 123 133 24
Federal Home Loan Bank advances 1,579 1,620 1,697 1,910 543
Note payable 109 233 190 153 34
Subordinated debentures 238 254 310 365 102
Total interest expense 4,050 4,426 5,014 6,802 2,240
Net interest income 29,135 32,128 33,645 35,830 8,939
Provision for loan losses 1,450 1,150 500 500 125
Net interest income after provision 27,685 30,978 33,145 35,330 8,814

NON-INTEREST INCOME

Service charges 4,408 5,086 5,113 5,266 1,194
Loan service fee income, net 206 71 315 233 73
Trust department income 1,056 1,086 1,183 1,348 328
Gain (loss) on sale of available for sale securities, net 412 287 52 (65) 94
Gain (loss) on trading assets, net (9) (92) 6 0 NA
Gain on sale of loans 1,488 2,098 1,727 1,560 207
Brokerage income 597 778 818 665 136
Debit card interchange income 2,477 2,740 3,045 3,273 790
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 86
Other 849 95 349 430 92
Total other income 11,484 12,149 13,808 12,963 3,000

NON-INTEREST EXPENSE

Salaries and employee benefits 16,583 17,930 18,002 18,938 4,690
Occupancy expenses 3,781 3,772 3,773 3,944 981
Repossession expenses, net 416 401 208 98 53
FDIC Insurance 576 526 349 307 77
Legal and professional fees 1,050 1,628 1,082 908 216
Data processing 1,427 1,627 1,714 1,953 601
Debit card expenses 1,287 1,311 1,667 1,767 530
Amortization expense of intangible assets, excluding mortgage servicing right 205 247 160 130 29
Advertising and marketing 1,003 925 726 859 234
Taxes other than payroll, property and income 904 1,134 1,188 1,215 324
Telephone 317 345 387 370 127
Postage 379 357 359 310 31
Loan fees 334 198 189 158 25
Acquisition expense 858 NA NA NA NA
Other 2,687 3,384 3,269 3,252 847
Total other expenses 31,807 33,785 33,073 34,209 8,765
Income before income taxes 7,362 9,342 13,880 14,084 3,049
Provision for income taxes 530 773 3,163 1,654 238
Net income 6,832 8,569 10,717 12,430 2,811

Earnings per share

Basic 2.40 1.43 1.81 2.09 0.47
Diluted 2.40 1.43 1.81 2.09 0.47

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Net income 6,832 8,569 10,717 12,430 2,811

Other comprehensive income (loss)

Unrealized gains (losses) on securities arising during the period (242) (1,706) 199 (3,205) 3,599
Reclassification of realized amount (412) (287) (52) 65 (94)
Net change in unrealized gain (loss) on securities (654) (1,993) 147 (3,140) 3,505
Less - Tax impact 222 678 (24) 659 (736)
Other comprehensive income (loss) (432) (1,315) 123 (2,481) 2,769
Comprehensive income (loss) 6,400 7,254 10,840 9,949 5,580
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