As Reported Financial Statements

As Reported Financials

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

Cash flows from operating activities

Net income 3,360 4,692 4,441 8,676

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation 753 720 750 910
Net amortization (accretion) on securities (222) (185) (169) 417
Amortization of mortgage servicing rights NA NA 477 538
Amortization of core deposit intangibles NA NA 0 631
Provision for loan losses (450) (1,000) (900) 609
Mortgage loans originated for sale (56,842) (86,492) (101,628) (77,540)
Proceeds from sale of mortgage loans 57,193 86,062 102,550 80,573
Net (gains) losses on sales of mortgage loans (667) (1,156) (1,886) (1,231)
Net gain on sales of securities (390) (461) NA NA
Net (gains) losses on sales of foreclosed assets 9 (79) (11) (11)
Provision for other real estate owned losses 149 NA NA NA
Write-down of foreclosed assets NA NA 0 46
Net (gains) losses on sales of premises and equipment NA NA 0 150
Net (gains) losses on redemptions of bank owned life insurance NA NA 0 (1,155)
Deferred income tax (benefit) expense 1,453 2,186 1,296 2,468
Increase in cash surrender value of bank owned life insurance (124) (246) (217) (217)
Net (increase) decrease in interest receivable and other assets (700) (944) (76) (3,525)
Net increase (decrease) in accrued interest payable and other liabilities 433 482 999 (1,832)
Net cash provided by (used in) operating activities 3,955 3,579 5,626 9,507

Cash flows from investing activities

Activity in AFS securities

securities Sales, calls, maturities, and principal paydowns NA NA 7,259 22,291
Proceeds from maturities of securities - HTM 528 391 NA NA
Proceeds from maturities of securities - AFS 4,888 7,163 NA NA
Proceeds from calls of securities - HTM 437 402 NA NA
Proceeds from calls and sales of securities - AFS 1,485 1,551 NA NA
Purchases (2,439) (1,455) 0 (5,293)

Activity in HTM securities

Sales, calls, maturities, and principal paydowns NA NA 414 247
Purchases 0 (1,314) (2,124) 0
Net loan principal (originations) collections (56,629) (59,907) (52,792) (156,681)
Proceeds from sales of foreclosed assets 858 2,170 206 192
Purchases of FHLB stock (380) 0 (464) (1,151)
Proceeds from redemption of FHLB stock 0 60 NA NA
Net purchases of premises and equipment (540) (630) (498) (3,395)
Proceeds from redemption of bank owned life insurance NA NA 0 1,258
Acquisition, net of cash acquired NA 0 21,170 0
Net cash provided by (used in) investing activities (51,792) (51,569) (26,829) (142,532)

Cash flows from financing activities

Net increase (decrease) in deposits 44,582 48,048 56,016 70,138
Cash dividends paid (224) (301) (1,011) (725)
Net advances (repayments) on line of credit NA 0 1,000 (1,000)
Net advances (repayments) from FHLB 9,962 (42) 9,225 2,000
Net proceeds from common stock issuance 183 188 14,861 227
Net cash provided by (used in) financing activities 54,503 47,893 80,091 70,640
Net change in cash and cash equivalents 6,666 (97) 58,888 (62,385)
Cash and cash equivalents, beginning of year 12,856 19,522 19,425 78,313
Cash and cash equivalents, end of year 19,522 19,425 78,313 15,928

Supplemental cash flows information

Interest paid 1,683 2,139 2,331 3,014
Income taxes paid 0 0 169 2,275
Transfers of loans to other real estate 1,200 0 98 69
Loans provided for sales of other real estate owned 290 705 162 0

Business Combinations

Fair value of tangible assets acquired NA NA 144,481 0
Goodwill, mortgage servicing rights, and core deposit intangible asset acquired NA NA 5,925 0
Liabilities assumed NA NA 171,576 0
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.