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 Q2 YTD 9/30/2017 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 Q2 YTD 9/30/2017 USD

INTEREST AND DIVIDEND INCOME

Interest and fees on loans receivable 25,423 25,896 27,795 31,609 19,783
Interest on investment securities - taxable 695 2,274 2,709 3,550 2,212
Interest on investment securities - nontaxable NA 0 0 25 28
Other interest and dividends 686 456 444 443 315
Total interest and dividend income 26,804 28,626 30,948 35,627 22,338

INTEREST EXPENSE

Interest on deposits 1,973 1,326 1,173 1,151 635
Interest on borrowings 595 590 569 718 545
Total interest expense 2,568 1,916 1,742 1,869 1,180
Net interest income 24,236 26,710 29,206 33,758 21,158
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 21,158

NON-INTEREST INCOME

Fees and service charges 4,258 4,317 4,846 5,177 2,897
Asset management fees 2,630 2,975 3,212 2,988 1,671
Net gains on sales of loans held for sale 667 596 525 656 382
BOLI 553 716 770 760 411
BOLI death benefit in excess of cash surrender value NA NA NA NA 0
Other, net 259 271 22 433 90
Total non-interest income, net 8,367 8,875 9,375 10,014 5,451

NON-INTEREST EXPENSE

Salaries and employee benefits 15,755 17,805 17,694 19,356 10,673
Occupancy and depreciation 4,811 4,778 4,727 4,819 2,758
Data processing 2,058 1,807 1,775 2,111 1,196
Amortization of CDI NA 24 2 27 116
Advertising and marketing 726 628 669 754 490
FDIC insurance premium 1,487 627 500 356 281
State and local taxes 462 559 510 609 331
Telecommunications 304 295 292 317 207
Professional fees 1,290 1,089 904 1,628 676
Litigation settlement NA 0 100 500 0
REO 2,765 994 567 54 5
Other 2,303 2,138 2,207 2,450 1,200
Total non-interest expense 31,961 30,744 29,947 32,981 17,933
INCOME BEFORE INCOME TAXES 4,342 6,641 9,784 10,791 8,676
PROVISION FOR INCOME TAXES (15,081) 2,150 3,426 3,387 2,963
NET INCOME 19,423 4,491 6,358 7,404 5,713

Earnings per common share

Basic 0.87 0.20 0.28 0.33 0.25
Diluted 0.87 0.20 0.28 0.33 0.25

Weighted average number of common shares outstanding

Basic 22,367,174 22,392,744 22,450,252 22,478,306 22,511,935
Diluted 22,369,175 22,431,839 22,494,151 22,548,340 22,599,851

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Net income 19,423 4,491 6,358 7,404 5,713

Other comprehensive income (loss)

Net unrealized holding gain (loss) from available for sale investment securities arising during the period, net of tax 366 1,513 321 (2,872) 584
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 income (loss), net 366 1,409 321 (2,770) NA
Noncontrolling interest 81 65 47 0 NA
Total comprehensive income, net 19,870 5,965 6,726 4,634 6,297
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.