As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 3/31/2016 USD 2015 Y 3/31/2017 USD 2016 Y 3/31/2017 USD 2017 Y 3/31/2017 USD 2018 Q3 YTD 12/31/2017 USD
Source Document Currency Code 2014 Y 3/31/2016 USD 2015 Y 3/31/2017 USD 2016 Y 3/31/2017 USD 2017 Y 3/31/2017 USD 2018 Q3 YTD 12/31/2017 USD

INTEREST AND DIVIDEND INCOME

Interest and fees on loans receivable 25,423 25,896 27,795 31,609 29,761
Interest on investment securities - taxable 695 2,274 2,709 3,550 3,413
Interest on investment securities - nontaxable NA 0 0 25 59
Other interest and dividends 686 456 444 443 483
Total interest and dividend income 26,804 28,626 30,948 35,627 33,716

INTEREST EXPENSE

Interest on deposits 1,973 1,326 1,173 1,151 933
Interest on borrowings 595 590 569 718 829
Total interest expense 2,568 1,916 1,742 1,869 1,762
Net interest income 24,236 26,710 29,206 33,758 31,954
Provision for loan losses (3,700) (1,800) (1,150) 0 0
Net interest income after provision for loan losses 27,936 28,510 30,356 33,758 31,954

NON-INTEREST INCOME

Fees and service charges 4,258 4,317 4,846 5,177 4,348
Asset management fees 2,630 2,975 3,212 2,988 2,582
Net gains on sales of loans held for sale 667 596 525 656 522
BOLI 553 716 770 760 618
BOLI death benefit in excess of cash surrender value NA NA NA NA 0
Other, net 259 271 22 433 271
Total non-interest income, net 8,367 8,875 9,375 10,014 8,341

NON-INTEREST EXPENSE

Salaries and employee benefits 15,755 17,805 17,694 19,356 16,056
Occupancy and depreciation 4,811 4,778 4,727 4,819 4,105
Data processing 2,058 1,807 1,775 2,111 1,730
Amortization of CDI NA 24 2 27 174
Advertising and marketing 726 628 669 754 627
FDIC insurance premium 1,487 627 500 356 389
State and local taxes 462 559 510 609 427
Telecommunications 304 295 292 317 309
Professional fees 1,290 1,089 904 1,628 926
Litigation settlement NA 0 100 500 0
REO 2,765 994 567 54 8
Other 2,303 2,138 2,207 2,450 1,740
Total non-interest expense 31,961 30,744 29,947 32,981 26,491
INCOME BEFORE INCOME TAXES 4,342 6,641 9,784 10,791 13,804
PROVISION FOR INCOME TAXES (15,081) 2,150 3,426 3,387 6,571
NET INCOME 19,423 4,491 6,358 7,404 7,233

Earnings per common share

Basic 0.87 0.20 0.28 0.33 0.32
Diluted 0.87 0.20 0.28 0.33 0.32

Weighted average number of common shares outstanding

Basic 22,367,174 22,392,744 22,450,252 22,478,306 22,520,352
Diluted 22,369,175 22,431,839 22,494,151 22,548,340 22,608,603

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Net income 19,423 4,491 6,358 7,404 7,233

Other comprehensive loss

Net unrealized holding loss from available for sale investment securities arising during the period, net of tax 366 1,513 321 (2,872) (317)
Reclassification adjustment for other than temporary impairment of available for sale investment security included in income, net of tax NA 0 0 155 0
Reclassification adjustment of net gain from sale of available for sale investment securities included in income, net of tax 0 (104) 0 (53) NA
Total other comprehensive loss, net 366 1,409 321 (2,770) (317)
Noncontrolling interest 81 65 47 0 NA
Total comprehensive income (loss), net 19,870 5,965 6,726 4,634 6,916
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.