As Reported Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y AR 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 AR 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

Cash flows from operating activities

Net income 12,186 14,002 16,403 24,301 19,950

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

Depreciation of premises and equipment NA 1,030 1,120 1,269 1,152
Net amortization of premiums on securities NA 711 818 790 641
Net accretion of discounts on loans NA NA NA NA (3,083)
Net accretion of deferred loan costs (fees) NA (639) (559) (515) (327)
Amortization of servicing assets NA 2,055 2,233 2,765 1,875
Depreciation and amortization, net of discount accretion 3,189 NA NA NA NA
Provision for loan losses 412 2,283 1,827 1,231 207
Deferred tax expense (benefit) 1,463 39 1,733 641 (967)
Stock-based compensation 291 717 699 648 503
Gain on sale of securities 0 (8) 0 0 NA
Loans originated for sale (118,163) NA NA NA NA
Gain on sale of loans (8,264) (8,912) (9,000) (5,560) (4,551)
Loss on sale of premises and equipment 1 NA NA NA NA
Originations of loans held-for-sale NA (145,446) (143,119) (99,864) (75,023)
Proceeds from sales of and principal collected on loans held-for-sale NA 176,313 151,972 106,282 84,943
Change in accrued interest receivable and other assets (1,476) (4,733) (243) (1,362) 840
Change in accrued interest payable and other liabilities 334 2,785 800 4,454 (326)
Net cash provided by operating activities 56,844 40,197 24,684 35,080 25,834

Cash flows from investing activities

Purchase of securities available-for-sale (46,529) (20,399) (66,866) (41,965) (6,247)
Proceeds from sale of securities available-for-sale 0 4,717 0 0 NA
Proceeds from maturities, calls, and paydowns of securities available-for-sale 10,608 16,929 18,558 23,374 21,365
Purchase of securities held-to-maturity (5,856) (2,611) (6,106) (2,075) (2,150)
Proceeds from maturities and paydowns of securities held-to-maturity 1,347 2,193 2,481 1,289 2,192
Proceeds from loans sold 4,990 NA NA NA NA
Net change in loans (144,628) NA NA NA NA
Proceeds from sale of loans held-for-sale previously classified as held-for-investment 166,871 0 0 8,254 826
Net increase in loans held-for-investment NA (212,036) (165,154) (159,510) NA
Net change in loans held-for-investment NA NA NA NA (50,280)
Purchase of loans held-for-investment NA NA NA NA (893)
Purchase of Federal Home Loan Bank stock (886) (764) (903) (844) (912)
Proceeds from sale of other real estate owned NA 0 291 102 321
Purchases of premises and equipment (2,396) (1,981) (1,281) (1,140) (575)
Net cash used in investing activities (183,350) (213,952) (218,980) (172,515) (36,353)

Cash flows from financing activities

Net increase (decrease) in deposits 136,612 152,373 159,478 192,463 (11,491)
Common stock dividend payments (882) NA NA NA NA
Issuance of common stock pursuant to stock option plan 190 NA NA NA NA
Issuance of common stock through private placement memorandum, net 0 NA NA NA NA
Proceeds from long-term Federal Home Loan Bank advances NA 0 40,000 0 NA
Repayment of long-term Federal Home Loan Bank advances NA 0 0 (10,000) (10,000)
Stock options exercised NA 569 134 310 459
Stock issued under stock offering, net of expenses NA 15,194 0 45,037 0
Repurchase of common stock NA NA NA NA (6,104)
Cash dividends paid on common stock NA (1,380) (1,609) (1,760) (2,706)
Net cash provided by (used in) financing activities 135,920 166,756 198,003 226,050 (29,842)
Net increase (decrease) in cash and cash equivalents 9,414 (6,999) 3,707 88,615 (40,361)
Cash and cash equivalents at beginning of year 67,536 76,950 69,951 73,658 162,273
Cash and cash equivalents at end of year 76,950 69,951 73,658 162,273 121,912

Supplemental disclosures of cash flow information

Interest paid 5,987 6,872 9,465 13,979 19,018
Income taxes paid 8,849 11,582 12,056 7,568 9,410

Supplemental disclosures of non-cash investment activities

Loans transferred to loans held-for-sale 22,254 22,051 0 8,062 824
Loans transferred to other real estate owned 0 506 0 0 50
Right of use assets obtained in exchange for lease obligations NA NA NA NA 1,616
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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