As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q1 YTD 3/31/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q1 YTD 3/31/2018 USD

INTEREST INCOME

Interest and fees on loans 31,949 40,642 50,018 51,217 13,291
Interest on deposits with other banks 223 274 322 340 90
Interest on investment securities - taxable 1,272 958 1,366 2,658 895
Interest on tax exempt loans and securities 2,724 2,226 2,417 2,383 778
Total interest income 36,168 44,100 54,123 56,598 15,054

INTEREST EXPENSE

Interest on deposits 5,563 6,246 7,748 8,294 2,298
Interest on repurchase agreements 291 83 72 75 19
Interest on FHLB and other borrowings 515 692 1,086 1,690 714
Interest on subordinated debt 1,142 2,204 2,226 2,242 558
Total interest expense 7,511 9,225 11,132 12,301 3,589
NET INTEREST INCOME 28,657 34,875 42,991 44,297 11,465
Provision for loan losses 2,582 2,493 3,632 2,173 474
Net interest income after provision for loan losses 26,075 32,382 39,359 42,124 10,991

NONINTEREST INCOME

Service charges on deposit accounts 677 646 764 765 185
Income on bank owned life insurance 588 653 638 646 218
Interchange and debit card transaction fees 778 987 1,185 1,258 150
Mortgage fee income 17,557 29,472 35,673 37,149 6,563
Gain on sale of portfolio loans 1,550 1,413 1,042 538 212
Insurance and investment services income 328 338 420 563 164
Gain on sale of securities 413 130 1,082 731 326
Gain (loss) on derivatives (2) 675 1,467 (2,722) 584
Commercial swap fee income NA 382 84 503 413
Other operating income 133 259 850 1,275 224
Total noninterest income 22,022 34,955 43,205 40,706 9,039

NONINTEREST EXPENSES

Salary and employee benefits 27,774 36,073 45,225 44,108 10,473
Occupancy expense 2,704 3,390 3,686 4,084 1,049
Equipment depreciation and maintenance 1,479 2,013 2,452 3,005 784
Data processing and communications 2,768 4,010 4,964 5,116 835
Mortgage processing 2,514 3,158 3,355 3,207 892
Marketing, contributions, and sponsorships 1,137 1,352 1,253 1,179 347
Professional fees 2,237 3,232 2,720 3,143 745
Printing, postage, and supplies 709 762 767 988 165
Insurance, tax, and assessment expense 1,478 1,394 1,528 1,797 390
Travel, entertainment, dues, and subscriptions 1,299 1,579 1,725 2,221 648
Other operating expenses 1,095 885 1,534 1,652 411
Total noninterest expense 45,194 57,848 69,209 70,500 16,739
Income before income taxes 2,903 9,489 13,355 12,330 3,291
Income tax expense 248 2,886 4,378 4,755 697
Net Income from continuing operations 2,655 6,603 8,977 7,575 NA
Income from discontinued operations, before income taxes (920) 353 6,346 0 NA
Income tax expense - discontinued operations (344) 140 2,411 0 NA
Net Income from discontinued operations (576) 213 3,935 0 NA
Net income 2,079 6,816 12,912 7,575 2,594
Preferred dividends 332 575 1,128 498 121
Net income available to common shareholders 1,747 6,241 11,784 7,077 2,473
Earnings per share from continuing operations - basic 0.29 0.75 0.96 0.69 NA
Earnings per share from discontinued operations - basic (0.07) 0.03 0.48 0 NA
Earnings per share - basic 0.22 0.78 1.44 0.69 0.24
Earnings per share from continuing operations - diluted 0.29 0.74 0.92 0.68 NA
Earnings per share from discontinued operations - diluted (0.07) 0.03 0.39 0 NA
Earnings per share - diluted 0.22 0.77 1.31 0.68 0.23
Cash dividends declared 0.08 0.08 0.08 0.10 0.03
Weighted average shares outstanding - basic 7,905,468 8,014,316 8,212,021 10,308,738 10,474,138
Weighted average shares outstanding - diluted 8,102,117 8,140,116 10,068,733 10,440,228 12,714,353

Consolidated Statements of Comprehensive Income

Net Income 2,079 6,816 12,912 7,575 2,594

Other comprehensive income (loss)

Unrealized holding gains (losses) on securities available-for-sale 2,196 202 (2,802) 3,387 (4,448)
Unrealized holding gains during the year related to reclassified held-to-maturity securities 0 0 1,825 0 NA
Income tax effect on Unrealized holding gains (losses) on securities available-for-sale (878) (81) 391 (1,355) 1,201
Reclassification adjustment for gain recognized in income (413) (130) (813) (731) (326)
Reclassification adjustment for gain recognized in income related to reclassified held-to-maturity securities 0 0 (269) 0 NA
Income tax effect on Reclassification adjustment for gain recognized in income 165 52 433 292 88
Change in defined benefit pension plan (1,252) (556) (181) (507) 0
Income tax effect on Change in defined benefit pension plan 501 222 72 203 0
Total other comprehensive income (loss) 319 (291) (1,344) 1,289 (3,485)
Comprehensive income (loss) 2,398 6,525 11,568 8,864 (891)
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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