As-Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD

Operating Activities

Net Income 7,619 8,784 11,065 11,638 4,853

Items not requiring (providing) cash

Depreciation and amortization 1,097 1,509 1,566 1,693 867
Provision for loan losses 1,100 750 400 600 200
Expense of share-based compensation plan 81 114 303 278 253
Amortization of premiums and discounts on securities 977 917 547 355 137
Amortization of intangible assets 201 13 11 10 4
Amortization of originated mortgage servicing rights 880 1,340 1,132 1,230 714
Deferred income taxes 1,519 738 (788) 324 NA
Impairment (recovery) of mortgage servicing rights NA NA NA NA 1,398
Proceeds from sale of loans held for sale 278,670 353,068 259,119 275,604 117,048
Originations of loans held for sale (276,252) (343,377) (253,840) (271,067) (119,599)
Gain from sale of loans (7,195) (9,151) (8,404) (8,100) (3,413)
Loss (gain) on sales of assets (18) (177) (6) (35) 7
Net gains on sales of securities 0 (262) (119) (70) (206)
Originated mortgage servicing rights impairment, net (116) (68) (77) 61 NA
Changes in
Interest receivable 86 (252) (313) (997) (387)
Other assets (1,616) (872) (1,760) (562) (3,673)
Interest payable & other liabilities 1,582 952 967 2,888 2,578
Net cash provided by operating activities 8,615 14,026 9,803 13,850 781

Investing Activities

Purchases of available-for-sale securities (26,261) (22,603) (29,849) (29,281) (8,840)
Proceeds from maturities of available-for-sale securities 20,328 17,534 22,016 18,042 8,957
Proceeds from sales of available-for-sale securities 0 3,212 14,488 2,185 7,375
Net change in loans (42,338) (88,027) (51,202) (76,503) (42,621)
Purchase of premises, equipment (7,199) (1,636) (3,714) (1,999) (779)
Proceeds from sales of premises, equipment 667 9 0 134 7
Proceeds from bank owned life insurance 0 0 665 0 NA
Purchase of bank owned life insurance 0 0 (3,000) 0 (50)
Purchase of Federal Home Loan Bank stock NA NA 0 (375) (525)
Proceeds from sale of foreclosed assets 111 784 1,067 210 69
Acquisition, net of cash acquired NA NA NA NA (2,600)
Net cash used in investing activities (54,692) (90,727) (49,529) (87,587) (39,007)

Financing Activities

Net increase in demand deposits, money market, interest checking & savings accounts 39,810 47,942 36,425 49,308 4,222
Net increase in certificates of deposit (4,263) 38,678 20,102 23,644 32,600
Net increase (decrease) in securities sold under agreements to repurchase (334) (1,874) 4,550 102 (1,216)
Proceeds from Federal Home Loan Bank advances 9,000 5,500 5,000 13,000 8,000
Repayment of Federal Home Loan Bank advances (4,000) (14,000) (13,000) (15,500) (8,000)
Net proceeds from share-based compensation plans 67 331 375 192 30
Stock repurchase plan (2) (1,168) (1,785) (109) (1,497)
Issuance of common shares NA NA 0 27,912 139
Dividends on common shares (983) (1,180) (1,362) (2,090) (1,142)
Dividends on preferred shares (956) (975) (975) (975) (487)
Net cash provided by financing activities 38,339 73,254 49,330 95,484 32,649
Decrease in cash and cash equivalents (7,738) (3,447) 9,604 21,747 (5,577)
Cash and cash equivalents, beginning of year 28,197 20,459 17,012 26,616 48,363
Cash and cash equivalents, end of year 20,459 17,012 26,616 48,363 42,786

Supplemental cash flow information

Interest paid 2,583 3,054 3,910 5,895 4,198
Income taxes paid 2,060 3,969 3,105 1,870 3,280
Fair value of assets acquired - premises and equipment NA NA NA NA 1,161

Supplemental non-cash disclosure

Initial recognition of right-of-use lease assets NA NA NA NA 293
Transfer of loans to foreclosed assets 134 1,238 95 201 477
Transfer of loans to premises and equipment NA NA 0 670 NA
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