As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD

INTEREST INCOME

Interest and fees on loans 23,727 31,949 40,642 50,018 37,695
Interest on deposits with other banks 200 223 274 322 250
Interest on investment securities - taxable 1,348 1,272 958 1,366 1,884
Interest on tax exempt loans and securities 2,240 2,724 2,226 2,417 1,683
Total interest income 27,515 36,168 44,100 54,123 41,512

INTEREST EXPENSE

Interest on deposits 3,999 5,563 6,246 7,748 5,952
Interest on repurchase agreements 567 291 83 72 56
Interest on FHLB and other borrowings 542 515 692 1,086 1,216
Interest on subordinated debt 79 1,142 2,204 2,226 1,674
Total interest expense 5,187 7,511 9,225 11,132 8,898
NET INTEREST INCOME 22,328 28,657 34,875 42,991 32,614
Provision for loan losses 2,260 2,582 2,493 3,632 1,137
Net interest income after provision for loan losses 20,068 26,075 32,382 39,359 31,477

NONINTEREST INCOME

Service charges on deposit accounts 673 677 646 764 559
Income on bank owned life insurance 460 588 653 638 453
Visa debit card and interchange income 641 778 987 1,185 906
Mortgage fee income 20,801 17,557 29,472 35,673 28,604
Gain on sale of portfolio loans 2,218 1,550 1,413 1,042 477
Insurance and investment services income 1,862 328 338 420 395
Gain on sale of securities 145 413 130 1,082 455
(Loss) gain on derivatives 59 (2) 675 1,467 (2,216)
Gain on sale of subsidiary 626 NA NA NA NA
Other operating income 83 133 641 934 916
Total noninterest income 27,568 22,022 34,955 43,205 30,549

NONINTEREST EXPENSES

Salary and employee benefits 27,067 27,774 36,073 45,225 33,009
Occupancy expense 1,838 2,704 3,390 3,686 3,083
Equipment depreciation and maintenance 1,257 1,479 2,013 2,452 2,214
Data processing and communications 2,324 2,768 4,010 4,964 3,833
Mortgage processing 2,407 2,514 3,158 3,355 2,455
Marketing, contributions and sponsorships 1,465 1,137 1,352 1,253 867
Professional fees 1,977 2,237 3,232 2,720 2,264
Printing, postage and supplies 788 709 762 767 783
Insurance, tax and assessment expense 847 1,478 1,394 1,528 1,403
Travel, entertainment, dues and subscriptions 1,244 1,299 1,579 1,725 1,621
Other operating expenses 1,419 1,095 885 1,534 1,254
Total noninterest expense 42,633 45,194 57,848 69,209 52,786
Income from continuing operations, before income taxes 5,003 2,903 9,489 13,355 9,240
Income tax expense - continuing operations 983 248 2,886 4,378 3,088
Net income from continuing operations NA 2,655 6,603 8,977 6,152
Income from discontinued operations, before income taxes NA (920) 353 6,346 0
Income tax benefit - discontinued operations NA (344) 140 2,411 0
Net income from discontinued operations NA (576) 213 3,935 0
Net income 4,020 2,079 6,816 12,912 6,152
Preferred dividends 85 332 575 1,128 374
Net income available to common shareholders 3,935 1,747 6,241 11,784 5,778
Earnings per share from continuing operations - basic NA 0.29 0.75 0.96 0.56
Earnings per share from discontinued operations - basic NA (0.07) 0.03 0.48 0
Earnings per common shareholder - basic 0.59 0.22 0.78 1.44 0.56
Earnings per share from continuing operations - diluted NA 0.29 0.74 0.92 0.56
Earnings per share from discontinued operations - diluted NA (0.07) 0.03 0.39 0
Earnings per common shareholder - diluted 0.57 0.22 0.77 1.31 0.56
Cash dividends declared NA 0.08 0.08 0.08 0.08
Weighted average shares outstanding - basic 6,657,093 7,905,468 8,014,316 8,212,021 10,262,944
Weighted average shares outstanding - diluted 6,939,028 8,102,117 8,140,116 10,068,733 10,288,534

Consolidated Statements of Comprehensive Income

Net Income 4,020 2,079 6,816 12,912 6,152

Other comprehensive income

Unrealized holding gains on securities available-for-sale (2,714) 2,196 202 (2,802) 3,158
Unrealized holding gains during the year related to reclassified held-to maturity securities NA 0 0 1,825 0
Income tax effect - Unrealized holding gains on securities available-for-sale 1,086 (878) (81) 391 (1,263)
Reclassification adjustment for gain recognized in income (145) (413) (130) (813) (455)
Reclassification adjustment for gain recognized in income related to reclassified held-to-maturity securities NA 0 0 (269) 0
Income tax effect - Reclassification adjustment for gain recognized in income 58 165 52 433 182
Change in defined benefit pension plan 417 (1,252) (556) (181) (336)
Income tax effect - Change in defined benefit pension plan (168) 501 222 72 134
Total other comprehensive income (1,466) 319 (291) (1,344) 1,420
Comprehensive income 2,554 2,398 6,525 11,568 7,572
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.
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