As Reported Financial Statements

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

Cash flows from operating activities

Net income (loss) $2,433 $4,945 $8,905 $8,627 ($1,015)

Adjustments to reconcile net income (loss) to net cash provided by operating activities

Provision for loan losses $500 $1,557 $900 $2,300 $750
Write down of other real estate owned $3,069 $355 $3,000 $563 $240
Depreciation and amortization $3,080 $3,518 $4,618 $5,447 $4,700
Deferred income taxes ($84) ($380) ($5,056) $1,527 NA
Stock based compensation $600 $759 $1,842 $2,116 $2,005
Net (gain) loss on sale of investment securities ($108) ($656) $146 $67 ($1,103)
Impairment charges on investment securities $3 $7 0 0 NA
Amortization of premiums on investment securities $840 $1,980 $2,469 $2,878 $2,257
Accretion of discounts on retained SBA loans ($1,005) ($1,364) ($1,088) ($1,332) ($1,083)
Fair value adjustments on SBA servicing assets $14 $1,075 $1,187 $1,458 $1,106
Proceeds from sales of SBA loans originated for sale $32,922 $58,107 $42,269 $42,726 $37,916
SBA loans originated for sale ($31,760) ($53,627) ($37,062) ($42,700) ($32,395)
Gains on sales of SBA loans originated for sale ($3,139) ($4,981) ($3,378) ($3,105) ($2,593)
Proceeds from sales of mortgage loans originated for sale 0 $163,414 $311,187 $322,264 $246,816
Mortgage loans originated for sale 0 ($161,717) ($321,222) ($291,870) ($239,045)
Fair value adjustment for mortgage loans originated for sale 0 ($483) ($846) $513 $285
Gains on sales of mortgage loans originated for sale 0 ($3,712) ($8,128) ($8,378) ($6,215)
Amortization of intangible assets 0 $43 $61 0 NA
Amortization of debt issuance costs $24 $24 $29 $6 $4
Non-cash expense related to leases NA NA NA NA $924
Increase in accrued interest receivable and other assets ($2,966) ($2,729) ($2,330) ($5,047) ($4,524)
Increase (decrease) in accrued interest payable and other liabilities $213 ($846) $1,513 $1,570 $2,996
Net cash provided by operating activities $4,636 $5,289 ($984) $39,630 $12,026

Cash flows from investing activities

Purchase of investment securities available for sale ($146,668) ($207,482) ($165,065) ($149,209) ($150,734)
Purchase of investment securities held to maturity ($121,402) ($294,187) ($89,350) ($123,265) 0
Proceeds from the sale of securities available for sale $11,707 $78,585 $31,197 $6,439 $54,742
Proceeds from the maturity or call of securities available for sale $31,159 $36,982 $48,547 $48,796 $41,571
Proceeds from the maturity or call of securities held to maturity $16,689 $33,160 $37,315 $63,565 $73,890
Redemption of restricted stock ($1,902) $1,693 ($552) ($3,836) $3,383
Net increase in loans ($106,616) ($89,428) ($197,965) ($275,587) ($133,667)
Net proceeds from sale of other real estate owned $792 $1,400 $499 $495 $401
Net cash paid in acquisition 0 ($5,913) 0 0 NA
Premises and equipment expenditures ($14,214) ($14,291) ($22,525) ($18,161) ($28,612)
Net cash used in investing activities ($330,455) ($459,481) ($357,899) ($450,763) ($139,026)

Cash flows from financing activities

Net proceeds from stock offering 0 $99,175 0 0 NA
Net proceeds from exercise of stock options $64 $726 $646 $670 $261
Net increase in demand, money market and savings deposits $184,859 $384,786 $380,052 $292,053 $284,219
Net increase in time deposits ($7,791) $43,586 $5,573 $37,519 $62,946
Net (repayment) increase in short-term borrowings $47,000 ($66,666) 0 $91,422 NA
Repayment of short-term borrowings NA NA NA NA ($91,422)
Net cash provided by financing activities $224,132 $461,607 $386,271 $421,664 $256,004
Net increase in cash and cash equivalents ($101,687) $7,415 $27,388 $10,531 $129,004
Cash and cash equivalents, beginning of year $128,826 $27,139 $34,554 $61,942 $72,473
Cash and cash equivalents, end of period $27,139 $34,554 $61,942 $72,473 $201,477

Supplemental disclosures

Interest paid $5,401 $6,664 $8,935 $15,905 $18,982
Income taxes paid 0 $190 $75 0 NA
Non-cash transfers from loans to other real estate owned $11,459 $616 $291 $315 $1,071
Conversion of subordinated debt to common stock 0 0 $229 $10,094 0
Transfer of available-for-sale securities to held-to-maturity securities NA 0 0 $230,094 NA
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.