As Reported Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

INTEREST INCOME

Interest and fees on loans 40,642 50,018 51,217 62,468 55,469
Interest on deposits with other banks 274 322 340 403 379
Interest on investment securities - taxable 958 1,366 2,658 3,580 2,336
Interest on tax exempt loans and securities 2,226 2,417 2,383 3,309 2,947
Total interest income 44,100 54,123 56,598 69,760 61,131

INTEREST EXPENSE

Interest on deposits 6,246 7,748 8,294 11,635 13,124
Interest on repurchase agreements 83 72 75 56 37
Interest on FHLB and other borrowings 692 1,086 1,690 4,259 3,707
Interest on subordinated debt 2,204 2,226 2,242 1,756 728
Total interest expense 9,225 11,132 12,301 17,706 17,596
NET INTEREST INCOME 34,875 42,991 44,297 52,054 43,535
Provision for loan losses 2,493 3,632 2,173 2,440 1,557
Net interest income after provision for loan losses 32,382 39,359 42,124 49,614 41,978

NONINTEREST INCOME

Service charges on deposit accounts 646 764 765 1,033 985
Income on bank owned life insurance 653 638 646 1,182 973
Interchange and debit card transaction fees 987 1,185 1,258 647 472
Mortgage fee income 29,472 35,673 37,149 32,337 28,030
Gain on sale of portfolio loans 1,413 1,042 538 198 228
Insurance and investment services income 338 420 563 716 502
(Loss) gain on sale of available-for-sale securities, net 130 1,082 731 327 (179)
(Loss) on sale of equity securities, net NA NA NA NA (7)
Gain (loss) on derivatives, net 675 1,467 (2,722) (278) 2,689
Commercial swap fee income 382 84 503 552 1,146
Holding gain on equity securities NA 0 0 590 13,767
Other operating income 259 850 1,275 1,336 1,242
Total noninterest income 34,955 43,205 40,706 38,640 49,848

NONINTEREST EXPENSES

Salary and employee benefits 36,073 45,225 44,108 46,224 40,452
Occupancy expense 3,390 3,686 4,084 4,234 3,454
Equipment depreciation and maintenance 2,013 2,452 3,005 3,239 2,689
Data processing and communications 4,010 4,964 5,116 3,741 3,025
Mortgage processing 3,158 3,355 3,207 3,551 2,253
Marketing, contributions, and sponsorships 1,352 1,253 1,179 1,141 945
Professional fees 3,232 2,720 3,143 3,559 3,025
Printing, postage, and supplies 762 767 988 762 481
Insurance, tax, and assessment expense 1,394 1,528 1,797 1,846 1,410
Travel, entertainment, dues, and subscriptions 1,579 1,725 2,221 2,808 2,719
Other operating expenses 885 1,534 1,652 1,773 1,765
Total noninterest expense 57,848 69,209 70,500 72,878 62,218
Income from continuing operations, before income taxes 9,489 13,355 12,330 15,376 29,608
Income tax expense - continuing operations 2,886 4,378 4,755 3,373 7,139
Net income from continuing operations 6,603 8,977 7,575 12,003 22,469
Income (loss) from discontinued operations, before income taxes 353 6,346 0 0 575
Income tax expense (benefit) - discontinued operations 140 2,411 0 0 148
Net income (loss) from discontinued operations 213 3,935 0 0 427
Net income 6,816 12,912 7,575 12,003 22,896
Preferred dividends 575 1,128 498 489 364
Net income available to common shareholders 6,241 11,784 7,077 11,514 22,532
Earnings per share from continuing operations - basic 0.75 0.96 0.69 1.04 1.89
Earnings per share from discontinued operations - basic 0.03 0.48 0 0 0.04
Earnings per share - basic 0.78 1.44 0.69 1.04 1.93
Earnings per share from continuing operations - diluted 0.74 0.92 0.68 1.00 1.84
Earnings per share from discontinued operations - diluted 0.03 0.39 0 0 0.04
Earnings per share - diluted 0.77 1.31 0.68 1.00 1.88
Cash dividends declared - common shares 0.08 0.08 0.10 0.11 0.13
Weighted average shares outstanding - basic 8,014,316 8,212,021 10,308,738 11,030,984 11,661,581
Weighted average shares outstanding - diluted 8,140,116 10,068,733 10,440,228 12,722,003 11,957,385

Consolidated Statements of Comprehensive Income

Net Income 6,816 12,912 7,575 12,003 22,896

Other comprehensive income (loss)

Unrealized holding gains (losses) on securities available-for-sale 202 (2,802) 3,387 (4,167) 7,913
Unrealized holding gains during the year related to reclassified held-to-maturity securities 0 1,825 0 0 NA
Income tax effect of Unrealized holding gains (losses) on securities available-for-sale (81) 391 (1,355) 1,125 (2,137)
Reclassification adjustment for loss (gain) recognized in income (130) (813) (731) (327) 179
Reclassification adjustment for gain recognized in income related to reclassified held-to-maturity securities 0 (269) 0 0 NA
Income tax effect of Reclassification adjustment for loss (gain) recognized in income 52 433 292 88 (48)
Change in defined benefit pension plan (556) (181) (507) 284 (1,541)
Income tax effect of Change in defined benefit pension plan 222 72 203 (77) 416
Carrying value adjustment - investment hedge NA NA NA NA (162)
Income tax effect of Carrying value adjustment - investment hedge NA NA NA NA 44
Total other comprehensive income (loss) (291) (1,344) 1,289 (3,074) 4,664
Comprehensive income 6,525 11,568 8,864 8,929 27,560
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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