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 Q1 YTD 3/31/2017 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 Q1 YTD 3/31/2017 USD

INTEREST INCOME

Interest and fees on loans 23,727 31,949 40,642 50,018 11,882
Interest on deposits with other banks 200 223 274 322 79
Interest on investment securities - taxable 1,348 1,272 958 1,366 546
Interest on tax exempt loans and securities 2,240 2,724 2,226 2,417 561
Total interest income 27,515 36,168 44,100 54,123 13,068

INTEREST EXPENSE

Interest on deposits 3,999 5,563 6,246 7,748 1,906
Interest on repurchase agreements 567 291 83 72 17
Interest on FHLB and other borrowings 542 515 692 1,086 288
Interest on subordinated debt 79 1,142 2,204 2,226 551
Total interest expense 5,187 7,511 9,225 11,132 2,762
NET INTEREST INCOME 22,328 28,657 34,875 42,991 10,306
Provision for loan losses 2,260 2,582 2,493 3,632 518
Net interest income after provision for loan losses 20,068 26,075 32,382 39,359 9,788

NONINTEREST INCOME

Service charges on deposit accounts 673 677 646 764 187
Income on bank owned life insurance 460 588 653 638 147
Visa debit card and interchange income 641 778 987 1,185 295
Mortgage fee income 20,801 17,557 29,472 35,673 9,634
Gain on sale of portfolio loans 2,218 1,550 1,413 1,042 9
Insurance and investment services income 1,862 328 338 420 124
Gain on sale of securities 145 413 130 1,082 183
(Loss) gain on derivatives 59 (2) 675 1,467 (1,947)
Gain on sale of subsidiary 626 NA NA NA NA
Other operating income 83 133 641 934 192
Total noninterest income 27,568 22,022 34,955 43,205 8,824

NONINTEREST EXPENSES

Salary and employee benefits 27,067 27,774 36,073 45,225 9,962
Occupancy expense 1,838 2,704 3,390 3,686 994
Equipment depreciation and maintenance 1,257 1,479 2,013 2,452 689
Data processing and communications 2,324 2,768 4,010 4,964 1,214
Mortgage processing 2,407 2,514 3,158 3,355 894
Marketing, contributions and sponsorships 1,465 1,137 1,352 1,253 327
Professional fees 1,977 2,237 3,232 2,720 677
Printing, postage and supplies 788 709 762 767 217
Insurance, tax and assessment expense 847 1,478 1,394 1,528 461
Travel, entertainment, dues and subscriptions 1,244 1,299 1,579 1,725 501
Other operating expenses 1,419 1,095 885 1,534 381
Total noninterest expense 42,633 45,194 57,848 69,209 16,317
Income from continuing operations, before income taxes 5,003 2,903 9,489 13,355 2,295
Income tax expense - continuing operations 983 248 2,886 4,378 721
Net income from continuing operations NA 2,655 6,603 8,977 1,574
Loss from discontinued operations, before income taxes NA (920) 353 6,346 0
Income tax benefit - discontinued operations NA (344) 140 2,411 0
Net loss from discontinued operations NA (576) 213 3,935 0
Net income 4,020 2,079 6,816 12,912 1,574
Preferred dividends 85 332 575 1,128 129
Net income available to common shareholders 3,935 1,747 6,241 11,784 1,445
Earnings per share from continuing operations - basic NA 0.29 0.75 0.96 0.14
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 0.14
Earnings per share from continuing operations - diluted NA 0.29 0.74 0.92 0.14
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 0.14
Cash dividends declared NA 0.08 0.08 0.08 0.03
Weighted average shares outstanding - basic 6,657,093 7,905,468 8,014,316 8,212,021 9,996,544
Weighted average shares outstanding - diluted 6,939,028 8,102,117 8,140,116 10,068,733 10,009,341

Consolidated Statements of Comprehensive Income

Net Income 4,020 2,079 6,816 12,912 1,574

Other comprehensive income

Unrealized holding gains on securities available-for-sale (2,714) 2,196 202 (2,802) 448
Unrealized holding gains during the year related to reclassified held-to-maturity securities NA 0 0 1,825 0
Unrealized holding gains on securities available-for-sale - Income tax effect 1,086 (878) (81) 391 (179)
Reclassification adjustment for gain recognized in income (145) (413) (130) (813) (183)
Reclassification adjustment for gain recognized in income related to reclassified held-to-maturity securities NA 0 0 (269) 0
Reclassification adjustment for gain recognized in income - Income tax effect 58 165 52 433 73
Change in defined benefit pension plan 417 (1,252) (556) (181) 164
Change in defined benefit pension plan - Income tax effect (168) 501 222 72 (66)
Total other comprehensive income (1,466) 319 (291) (1,344) 257
Comprehensive income 2,554 2,398 6,525 11,568 1,831
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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