As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2016 Y 3/31/2018 USD 2017 Y 3/31/2019 USD 2018 Y 3/31/2019 USD 2019 Y 3/31/2019 USD 2020 Q1 YTD 6/30/2019 USD
Source Document Currency Code 2016 Y 3/31/2018 USD 2017 Y 3/31/2019 USD 2018 Y 3/31/2019 USD 2019 Y 3/31/2019 USD 2020 Q1 YTD 6/30/2019 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 6,358 7,404 10,242 17,266 4,192

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

Depreciation and amortization 2,597 2,746 2,917 2,718 767
Purchased loans amortization (accretion), net 697 441 (277) (147) (41)
Recapture of loan losses (1,150) 0 0 50 0
Provision (benefit) for deferred income taxes 3,175 3,103 3,668 (11) NA
Expense related to ESOP 110 143 148 0 NA
Stock-based compensation expense 0 0 88 44 180
Increase in deferred loan origination fees, net of amortization 585 543 498 498 110
Origination of loans held for sale (15,768) (21,032) (20,502) (11,105) (2,627)
Proceeds from sales of loans held for sale 16,398 21,477 21,204 10,579 3,598
Writedown of REO 369 30 0 0 NA
Loss on impairment of investment security 0 240 0 0 NA
Net gains on loans held for sale and sales of premises and equipment (321) (731) (725) (682) (91)
Income from BOLI (770) (760) (819) (734) (193)
BOLI death benefit in excess of cash surrender value 0 (423) 0 0 NA
Changes in certain other assets and liabilities
Prepaid expenses and other assets (239) (369) (212) (868) 1,459
Accrued interest receivable (245) (291) (536) (442) (70)
Accrued expenses and other liabilities (718) 5,538 (3,755) 2,988 (735)
Net cash provided by operating activities 11,078 18,059 11,939 20,154 6,549

CASH FLOWS FROM INVESTING ACTIVITIES

Loan originations, net (30,686) (37,103) 11,156 (34,427) (8,327)
Purchases of loans receivable (15,618) (5,746) (43,016) (29,929) (3,594)
Principal repayments on investment securities available for sale 21,860 29,782 28,569 26,519 6,863
Purchases of investment securities available for sale (60,679) (92,418) (47,494) 0 NA
Proceeds from calls of investment securities available for sale 0 7,261 950 10,000 3,000
Principal repayments on investment securities held to maturity 11 11 22 7 2
Purchases of premises and equipment and capitalized software (366) (598) (753) (1,046) (82)
Redemption of certificates of deposit held for investment 9,200 5,727 5,075 5,220 0
Purchases of FHLB stock, net 4,864 (121) (172) (2,291) (14)
Cash acquired, net of cash consideration paid in business combination 0 15,116 0 0 NA
Proceeds from death benefit on BOLI 0 1,236 0 0 NA
Proceeds from sales of real estate owned (“REO”) and premises and equipment 753 262 81 976 0
Net cash used in investing activities (70,661) (76,591) (45,582) (24,971) (2,152)

CASH FLOWS FROM FINANCING ACTIVITIES

Net decrease in deposits 58,953 69,470 15,771 (70,568) (2,788)
Purchase of subsidiary shares from noncontrolling interest (1,502) NA NA NA NA
Dividends paid (1,261) (1,799) (2,140) (3,163) (904)
Proceeds from borrowings 4,100 23,200 55,980 326,956 130,947
Repayment of borrowings (4,100) (23,200) (55,980) (270,370) (130,592)
Net increase (decrease) in advance payments by borrowers for taxes and insurance 114 84 (56) (6) 58
Principal payments on finance lease liability (42) (21) (23) (28) (8)
Proceeds from exercise of stock options 62 11 245 179 52
Net cash used in financing activities 56,324 67,745 13,797 (17,000) (3,235)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,259) 9,213 (19,846) (21,817) 1,162
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 58,659 55,400 64,613 44,767 22,950
CASH AND CASH EQUIVALENTS, END OF PERIOD 55,400 64,613 44,767 22,950 24,112

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during the period for

Interest 1,570 1,655 2,176 2,686 1,065
Income taxes 239 285 3,280 6,877 0

NONCASH INVESTING AND FINANCING ACTIVITIES

Dividends declared and accrued in other liabilities 452 450 677 904 1,018
Transfer of loans to REO 298 NA NA NA NA
Adjustment to capital lease obligation and premises and equipment due to lease modification 241 NA NA NA NA
Other comprehensive income (loss) 524 (4,295) (3,590) 2,751 2,810
Income tax effect related to other comprehensive income (loss) (203) 1,525 871 (629) (675)

Business combinations

Fair value of assets acquired 0 (145,386) 0 0 NA
Fair value of liabilities assumed 0 134,810 0 0 NA
Right-of-use lease assets obtained in exchange for operating lease liabilities NA NA NA NA 5,603
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.