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As Reported Financials

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Operating Activities

Net income 26,423 28,843 32,268 46,249 36,852

Items not requiring (providing) cash

Provision for loan losses 136 283 2,949 1,176 1,821
Depreciation 3,267 3,356 3,567 3,688 3,137
Net amortization of premium and discounts on loans, securities, deposits and debt obligations 1,148 1,128 740 861 NA
Amortization of mortgage servicing rights, net of impairment charges/recoveries 1,620 1,724 1,464 1,341 1,714
Net recovery of mortgage servicing rights (266) (123) (89) (132) NA
Amortization of core deposit and other intangible assets 699 535 1,289 1,312 839
Net accretion of premiums and discounts on loans and deposits NA NA NA NA (599)
Amortization of premiums and discounts on securities NA NA NA NA 1,073
Change in deferred taxes (35) (615) 1,261 881 (637)
Proceeds from the sale of loans held for sale 215,402 262,958 215,727 212,688 201,571
Originations of loans held for sale (213,416) (263,679) (213,479) (205,884) (213,649)
Gain from sale of loans (5,388) (6,064) (4,881) (4,819) (5,887)
Gain from sale or call of securities (22) (509) (584) (173) (11)
Loss on sale or write down of property plant and equipment 428 0 48 13 10
Gain/loss on sale / write-down of real estate and other assets held for sale 150 (300) (56) 581 178
Stock option expense 150 274 215 420 272
Restricted stock /expense 436 517 838 568 184
Income from bank owned life insurance including income from death benefits in excess of cash surrender value (895) (909) (3,085) (1,767) (1,702)
Change in interest receivable and other assets (1,356) (4,121) (3,591) (2,878) NA
Change in accrued interest and other liabilities 1,955 3,878 1,527 (916) NA
Excess tax benefit on stock compensation plans 216 (192) (171) (154) (108)
Changes in
Accrued interest receivable NA NA NA NA (1,745)
Other assets NA NA NA NA (5,783)
Other liabilities NA NA NA NA 1,705
Net cash provided by operating activities 30,652 26,984 35,957 53,055 19,235

Investing Activities

Proceeds from maturities of held-to-maturity securities 69 59 128 122 42
Proceeds from maturities, calls and pay-downs of available-for-sale securities 31,240 36,390 32,687 32,620 29,913
Proceeds from the sale of available-for-sale securities 426 14,871 34,248 5,503 783
Proceeds from sale of premises and equipment, real estate and other assets held for sale 3,407 1,705 554 887 1,173
Proceeds from sale of office properties and equipment 212 1 849 14 NA
Proceeds from sale of non-mortgage loans 24,027 20,816 20,227 28,729 15,944
Purchases of available-for-sale securities (30,483) (71,276) (73,007) (76,647) (18,652)
Proceeds from Federal Home Loan stock redemption 1 3 0 1,775 2,302
Net cash paid for acquisition (297) 0 19,359 0 (1,600)
Purchase of portfolio mortgage loans 0 (822) (11,476) 0 NA
Proceeds from sale of bank owned life insurance NA 0 0 17,689 0
Purchases of premises and equipment, net (1,843) (2,106) (3,263) (4,168) (2,388)
Investment in bank owned life insurance (4,000) 0 (20,000) 0 (6,600)
Proceeds from bank owned life insurance death benefit NA 0 0 337 874
Net increase in loans receivable (177,013) (158,121) (133,184) (219,885) (140,439)
Net cash used by investing activities (154,254) (158,480) (132,878) (213,024) (118,648)

Financing Activities

Net increase in deposits and advance payments by borrowers 75,689 145,467 148,065 183,764 141,585
Repayment of Federal Home Loan Bank advances (8,642) (959) (31,070) (34,090) (35,094)
Proceeds from Federal Home Loan Bank advances 47,000 45,000 10,000 35,000 35,000
Decrease in securities sold under repurchase agreements 2,429 (25,372) (5,797) (20,278) (2,890)
Net cash paid for repurchase of common stock (8,436) (6,293) 0 (6,330) (15,147)
Repayment of warrants (11,979) NA NA NA NA
Proceeds from exercise of stock options 1,469 714 199 111 191
Proceeds from direct stock sales 64 63 73 104 83
Cash dividends paid on common stock (7,159) (7,890) (9,859) (13,043) (11,283)
Net cash provided by financing activities 90,435 150,730 111,611 145,238 112,445
Increase in cash and cash equivalents (33,167) 19,234 14,690 (14,731) 13,032
Cash and cash equivalents at beginning of period 112,936 79,769 99,003 113,693 98,962
Cash and cash equivalents at end of period 79,769 99,003 113,693 98,962 111,994

Supplemental cash flow information

Interest paid 6,764 8,370 11,382 16,198 18,459
Income taxes paid 10,000 12,700 14,350 7,950 7,350
Transfer from other liability to equity NA 0 0 636 NA
Initial recognition of right-of-use asset NA NA NA NA 8,808
Initial recognition of lease liability NA NA NA NA 9,339
Transfers from loans to real estate and other assets held for sale 974 583 705 1,141 146
Transfer from real estate owned and other assets held for sale to loans 2,544 NA NA NA NA
Transfer from (to) property and equipment to real estate and other assets held for sale 267 (44) (130) 0 NA
Sale of bank owned life insurance not yet settled 0 0 17,840 0 NA
Securities purchased but not yet settled 0 357 548 0 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.