As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD
Source Document Currency Code 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD

Cash flows from operating activities

Net income 8,486 3,360 4,692 4,441

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

Depreciation 709 753 720 750
Amortization and accretion on securities, net (540) (222) (185) (169)
Provision for loan losses 7 (450) (1,000) (900)
Mortgage loans originated for sale (56,585) (56,842) (86,492) (101,628)
Proceeds from sale of mortgage loans 57,976 57,193 86,062 103,702
Net gain on sales of mortgage loans (1,613) (667) (1,156) (3,038)
Net gain on sales of securities 0 (390) (461) 0
Net gain on sale of other real estate owned (239) 9 (79) (11)
Provision for other real estate owned losses 223 149 NA NA
Deferred income tax expense (4,929) 1,453 2,186 1,296
Net earnings from bank owned life insurance (146) (124) (246) (217)
Net (increase) decrease in interest receivable and other assets (640) (700) (944) 401
Net increase in accrued interest payable and other liabilities (1,522) 433 482 999
Net cash provided by operating activities 1,187 3,955 3,579 5,626

Cash flows from investing activities

Proceeds from maturities of securities - HTM 413 528 391 377
Proceeds from maturities of securities - AFS 13,548 4,888 7,163 4,239
Proceeds from calls of securities - HTM 25 437 402 37
Proceeds from calls and sales of securities - AFS 2,008 1,485 1,551 3,020
Purchases of securities - AFS (3,898) (2,439) (1,455) 0
Purchase of securities - HTM NA 0 (1,314) (2,124)
Origination of loans, net of principal payments (64,843) (56,629) (59,907) (52,792)
Purchases of FHLB stock 0 (380) 0 (464)
Proceeds from redemption of FHLB stock NA 0 60 0
Proceeds from sale of other real estate owned 1,543 858 2,170 206
Purchase of premises and equipment (497) (540) (630) (498)
Acquisition of CSB, net of cash acquired NA NA 0 21,170
Net cash used in investing activities (51,701) (51,792) (51,569) (26,829)

Cash flows from financing activities

Net increase in deposits 7,502 44,582 48,048 56,016
Cash dividends paid 0 (224) (301) (1,011)
Net advances on line of credit NA NA 0 1,000
Net (repayments) advances from FHLB 9,964 9,962 (42) 9,225
Net proceeds from common stock issuance 192 183 188 14,861
Net cash provided by financing activities 17,658 54,503 47,893 80,091
Net increase (decrease) in cash and cash equivalents (32,856) 6,666 (97) 58,888
Cash and cash equivalents, beginning of year 45,712 12,856 19,522 19,425
Cash and cash equivalents, end of year 12,856 19,522 19,425 78,313

Supplemental cash flows information

Cash paid for interest 3,278 1,683 2,139 2,331
Cash paid for income taxes 0 0 0 169
Transfers from loans to other real estate 2,538 1,200 0 98
Loans provided for sales of other real estate owned 996 290 705 162

Business combination

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