As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 3/31/2017 USD 2016 Y 3/31/2018 USD 2017 Y 3/31/2018 USD 2018 Y 3/31/2018 USD 2019 Q3 YTD 12/31/2018 USD
Source Document Currency Code 2015 Y 3/31/2017 USD 2016 Y 3/31/2018 USD 2017 Y 3/31/2018 USD 2018 Y 3/31/2018 USD 2019 Q3 YTD 12/31/2018 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 4,491 6,358 7,404 10,242 13,059

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

Depreciation and amortization 3,283 2,597 2,746 2,917 2,045
Purchased loans accretion, net NA 697 441 (277) (47)
Recapture of loan losses (1,800) (1,150) 0 0 NA
Provision for loan losses NA NA NA NA 50
Provision for deferred income taxes 2,140 3,175 3,103 3,668 0
Expense related to ESOP 102 110 143 148 0
Stock-based compensation expense 26 0 0 88 34
Increase in deferred loan origination fees, net of amortization 190 585 543 498 599
Origination of loans held for sale (17,991) (15,768) (21,032) (20,502) (8,944)
Proceeds from sales of loans held for sale 18,673 16,398 21,477 21,204 9,303
Writedown of REO 715 369 30 0 NA
Loss on impairment of investment security 0 0 240 0 NA
Net gains on loans held for sale and sale of REO (663) (321) (731) (725) (644)
Income from BOLI (716) (770) (760) (819) (545)
BOLI death benefit in excess of cash surrender value 0 0 (423) 0 NA

Changes in certain other assets and liabilities

Prepaid expenses and other assets (161) (239) (369) (212) (261)
Accrued interest receivable (303) (245) (291) (536) (312)
Accrued expenses and other liabilities (2,424) (718) 5,538 (3,755) 6,326
Net cash provided by operating activities 5,562 11,078 18,059 11,939 20,663

CASH FLOWS FROM INVESTING ACTIVITIES

Loan repayments (originations), net (24,270) (30,686) (37,103) 11,156 (36,726)
Purchases of loans receivable (22,864) (15,618) (5,746) (43,016) (20,318)
Principal repayments on investment securities available for sale 18,553 21,860 29,782 28,569 20,591
Purchases of investment securities available for sale (52,199) (60,679) (92,418) (47,494) 0
Proceeds from calls and maturities of investment securities available for sale 24,205 0 7,261 950 10,000
Principal repayments on investment securities held to maturity 15 11 11 22 6
Redemption of certificates of deposit held for investment 10,956 9,200 5,727 5,075 5,220
Purchase of FHLB stock 820 4,864 (121) (172) (1,382)
Cash acquired, net of cash consideration paid in business combination 0 0 15,116 0 NA
Purchase of BOLI (6,500) NA NA NA NA
Proceeds from death benefit on BOLI 0 0 1,236 0 NA
Purchases of premises and equipment and capitalized software (464) (366) (598) (753) (304)
Proceeds from sales of REO and premises and equipment 5,493 753 262 81 975
Net cash used in investing activities (46,255) (70,661) (76,591) (45,582) (21,938)

CASH FLOWS FROM FINANCING ACTIVITIES

Net decrease in deposits 30,784 58,953 69,470 15,771 (52,067)
Purchase of subsidiary shares from noncontrolling interest 0 (1,502) 0 0 NA
Dividends paid 0 (1,261) (1,799) (2,140) (2,259)
Proceeds from borrowings 25,450 4,100 23,200 55,980 166,255
Repayment of borrowings (25,450) (4,100) (23,200) (55,980) (131,712)
Net decrease in advance payments by borrowers for taxes and insurance 28 114 84 (56) (445)
Principal payments on capital lease obligation (85) (42) (21) (23) (21)
Proceeds from exercise of stock options 48 62 11 245 151
Net cash used in financing activities 30,775 56,324 67,745 13,797 (20,098)
NET DECREASE IN CASH AND CASH EQUIVALENTS (9,918) (3,259) 9,213 (19,846) (21,373)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 68,577 58,659 55,400 64,613 44,767
CASH AND CASH EQUIVALENTS, END OF PERIOD 58,659 55,400 64,613 44,767 23,394

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during the period for

Interest 5,457 1,570 1,655 2,176 1,811
Income taxes 15 239 285 3,280 5,063

NONCASH INVESTING AND FINANCING ACTIVITIES

Dividends declared and accrued in other liabilities 253 452 450 677 904
Transfer of loans to REO 1,512 298 0 0 NA
Transfer of real estate owned to loans 1,333 NA NA NA NA
Adjustment to capital lease obligation and premises and equipment due to lease modification 0 241 0 0 NA
Other comprehensive income (loss) 2,133 524 (4,295) (3,590) 568
Income tax effect related to other comprehensive income (loss) (724) (203) 1,525 871 (134)

Business combinations

Fair value of assets acquired 0 0 (145,386) 0 NA
Fair value of liabilities assumed 0 0 134,810 0 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.