Skip to Main Content Skip to Sitemap

As Reported Financials

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

Operating Activities

Net income 24,292 26,423 28,843 32,268 34,152

Items not requiring (providing) cash

Provision for loan losses 1,117 136 283 2,949 704
Depreciation 2,952 3,267 3,356 3,567 2,688
Net amortization of premium and discounts on loans, securities, deposits and debt obligations 1,020 1,148 1,128 740 NA
Amortization of mortgage servicing rights, net of impairment recoveries 1,401 1,620 1,724 1,464 918
Net impairment (recovery) of mortgage servicing rights (116) (266) (123) (89) NA
Amortization of core deposit and other intangible assets 1,102 699 535 1,289 998
Net accretion of premiums and discounts on loans and deposits NA NA NA NA (238)
Amortization of premiums and discounts on securities NA NA NA NA 905
Change in deferred taxes (179) (35) (615) 1,261 224
Proceeds from the sale of loans held for sale 159,305 215,402 262,958 215,727 161,185
Originations of loans held for sale (153,753) (213,416) (263,679) (213,479) (160,655)
Gain from sale of loans (3,517) (5,388) (6,064) (4,881) (4,044)
Gain from sale or call of securities (932) (22) (509) (584) (76)
Loss on sale or disposal of premises and equipment 0 428 0 48 13
Gain/loss on sale / write-down of real estate and other assets held for sale (73) 150 (300) (56) 529
Stock option expense 78 150 274 215 295
Restricted stock expense (122) 436 517 838 297
Income from bank owned life insurance (1,802) (895) (909) (3,085) (1,365)
Change in interest receivable and other assets (5,962) (1,356) (4,121) (3,591) NA
Change in accrued interest and other liabilities 5,254 1,955 3,878 1,527 NA
Excess tax benefit on stock compensation plans 0 216 (192) (171) (162)

Changes in

Accrued interest receivable NA NA NA NA (2,552)
Other assets NA NA NA NA (2,985)
Other liabilities NA NA NA NA 2,187
Net cash provided by operating activities 30,065 30,652 26,984 35,957 33,018

Investing Activities

Proceeds from maturities of held-to-maturity securities 73 69 59 128 45
Proceeds from maturities, calls and pay-downs of available-for-sale securities 20,400 31,240 36,390 32,687 19,916
Proceeds from sale of premises and equipment, real estate and other assets held for sale 2,108 3,407 1,705 554 482
Proceeds from sale of office properties and equipment 84 212 1 849 NA
Proceeds from the sale of available-for-sale securities 14,913 426 14,871 34,248 1,944
Proceeds from sale of non-mortgage loans 20,592 24,027 20,816 20,227 28,277
Purchases of available-for-sale securities (70,149) (30,483) (71,276) (73,007) (51,535)
Proceeds from Federal Home Loan stock redemption 5,548 1 3 0 1,775
Net cash paid in Buckeye Insurance acquisition 0 NA NA NA NA
Net cash received in acquisitions NA (297) 0 19,359 0
Investment in bank owned life insurance (3,406) (4,000) 0 (20,000) 0
Proceeds from bank owned life insurance death benefit 910 NA NA NA 336
Proceeds from sale of bank owned life insurance NA NA NA NA 17,689
Purchase of portfolio mortgage loans (16,594) 0 (822) (11,476) 0
Purchases of premises and equipment, net (4,935) (1,843) (2,106) (3,263) (2,911)
Net increase in loans receivable (73,206) (177,013) (158,121) (133,184) (136,083)
Net cash used by investing activities (103,662) (154,254) (158,480) (132,878) (120,065)

Financing Activities

Net increase in deposits and advance payments by borrowers 25,810 75,689 145,467 148,065 88,184
Repayment of Federal Home Loan Bank advances (976) (8,642) (959) (31,070) (34,059)
Proceeds from Federal Home Loan Bank advances 0 47,000 45,000 10,000 50,000
Increase in notes payable NA NA NA NA 0
Decrease in securities sold under repurchase agreements 2,840 2,429 (25,372) (5,797) (21,857)
Proceeds from exercise of stock options 921 1,469 714 199 111
Proceeds from direct stock sales 76 64 63 73 75
Cash dividends paid on common stock (5,937) (7,159) (7,890) (9,859) (9,574)
Net cash paid for repurchase of common stock (15,519) (8,436) (6,293) 0 NA
Repayment of warrants 0 (11,979) 0 0 NA
Net cash provided by financing activities 7,215 90,435 150,730 111,611 72,880
Increase in cash and cash equivalents (66,382) (33,167) 19,234 14,690 (14,167)
Cash and cash equivalents at beginning of period 179,318 112,936 79,769 99,003 113,693
Cash and cash equivalents at end of period 112,936 79,769 99,003 113,693 99,526

Supplemental cash flow information

Interest paid 6,557 6,764 8,370 11,382 11,335
Income taxes paid 8,950 10,000 12,700 14,350 6,950
Transfers from loans to real estate and other assets held for sale 2,357 974 583 705 1,141
Transfer from real estate owned and other assets held for sale to loans 0 2,544 0 0 NA
Transfer from (to) property and equipment to real estate and other assets held for sale 0 267 (44) (130) NA
Transfer from loans held for sale to loans 1,178 NA NA NA NA
Securities purchased but not yet settled 0 0 357 548 577
Sale of bank owned life insurance not yet settled NA 0 0 17,840 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.