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 Q3 YTD 9/30/2018 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 Q3 YTD 9/30/2018 USD

INTEREST INCOME

Interest and fees on loans 31,949 40,642 50,018 51,217 44,777
Interest on deposits with other banks 223 274 322 340 284
Interest on investment securities - taxable 1,272 958 1,366 2,658 2,655
Interest on tax exempt loans and securities 2,724 2,226 2,417 2,383 2,458
Total interest income 36,168 44,100 54,123 56,598 50,174

INTEREST EXPENSE

Interest on deposits 5,563 6,246 7,748 8,294 7,938
Interest on repurchase agreements 291 83 72 75 49
Interest on FHLB and other borrowings 515 692 1,086 1,690 3,110
Interest on subordinated debt 1,142 2,204 2,226 2,242 1,433
Total interest expense 7,511 9,225 11,132 12,301 12,530
NET INTEREST INCOME 28,657 34,875 42,991 44,297 37,644
Provision for loan losses 2,582 2,493 3,632 2,173 2,148
Net interest income after provision for loan losses 26,075 32,382 39,359 42,124 35,496

NONINTEREST INCOME

Service charges on deposit accounts 677 646 764 765 741
Income on bank owned life insurance 588 653 638 646 958
Interchange and debit card transaction fees 778 987 1,185 1,258 459
Mortgage fee income 17,557 29,472 35,673 37,149 24,634
Gain on sale of portfolio loans 1,550 1,413 1,042 538 217
Insurance and investment services income 328 338 420 563 540
Gain on sale of available-for-sale securities, net 413 130 1,082 731 327
Gain (loss) on derivatives, net (2) 675 1,467 (2,722) 509
Commercial swap fee income NA 382 84 503 419
Holding gain on equity securities NA NA NA NA 583
Other operating income 133 259 850 1,275 958
Total noninterest income 22,022 34,955 43,205 40,706 30,345

NONINTEREST EXPENSES

Salary and employee benefits 27,774 36,073 45,225 44,108 34,487
Occupancy expense 2,704 3,390 3,686 4,084 3,178
Equipment depreciation and maintenance 1,479 2,013 2,452 3,005 2,439
Data processing and communications 2,768 4,010 4,964 5,116 2,735
Mortgage processing 2,514 3,158 3,355 3,207 2,751
Marketing, contributions, and sponsorships 1,137 1,352 1,253 1,179 966
Professional fees 2,237 3,232 2,720 3,143 2,548
Printing, postage, and supplies 709 762 767 988 597
Insurance, tax, and assessment expense 1,478 1,394 1,528 1,797 1,333
Travel, entertainment, dues, and subscriptions 1,299 1,579 1,725 2,221 1,991
Other operating expenses 1,095 885 1,534 1,652 1,380
Total noninterest expense 45,194 57,848 69,209 70,500 54,405
Income before income taxes 2,903 9,489 13,355 12,330 11,436
Income tax expense 248 2,886 4,378 4,755 2,432
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 9,004
Preferred dividends 332 575 1,128 498 366
Net income available to common shareholders 1,747 6,241 11,784 7,077 8,638
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 0.80
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 0.77
Cash dividends declared 0.08 0.08 0.08 0.10 0.08
Weighted average shares outstanding - basic 7,905,468 8,014,316 8,212,021 10,308,738 10,845,166
Weighted average shares outstanding - diluted 8,102,117 8,140,116 10,068,733 10,440,228 11,690,314

Consolidated Statements of Comprehensive Income

Net Income 2,079 6,816 12,912 7,575 9,004

Other comprehensive income (loss)

Unrealized holding gains (losses) on securities available-for-sale 2,196 202 (2,802) 3,387 (7,455)
Unrealized holding gains during the year related to reclassified held-to-maturity securities 0 0 1,825 0 NA
Income tax of Unrealized holding gains (losses) on securities available-for-sale (878) (81) 391 (1,355) 2,012
Reclassification adjustment for gain recognized in income (413) (130) (813) (731) (327)
Reclassification adjustment for gain recognized in income related to reclassified held-to-maturity securities 0 0 (269) 0 NA
Income tax of Reclassification adjustment for gain recognized in income 165 52 433 292 88
Change in defined benefit pension plan (1,252) (556) (181) (507) 972
Income tax of Change in defined benefit pension plan 501 222 72 203 (262)
Total other comprehensive income (loss) 319 (291) (1,344) 1,289 (4,972)
Comprehensive income 2,398 6,525 11,568 8,864 4,032
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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