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

INTEREST AND DIVIDEND INCOME

Interest and fees on loans receivable 25,896 27,795 31,609 39,659 32,849
Interest on investment securities - taxable 2,274 2,709 3,550 4,648 3,424
Interest on investment securities - nontaxable 0 0 25 95 110
Other interest and dividends 456 444 443 558 271
Total interest and dividend income 28,626 30,948 35,627 44,960 36,654

INTEREST EXPENSE

Interest on deposits 1,326 1,173 1,151 1,208 759
Interest on borrowings 590 569 718 1,141 1,126
Total interest expense 1,916 1,742 1,869 2,349 1,885
Net interest income 26,710 29,206 33,758 42,611 34,769
Provision for loan losses (1,800) (1,150) 0 0 50
Net interest income after provision for loan losses 28,510 30,356 33,758 42,611 34,719

NON-INTEREST INCOME

Fees and service charges 4,317 4,846 5,177 5,779 4,956
Asset management fees 2,975 3,212 2,988 3,448 2,804
Net gains on sales of loans held for sale 596 525 656 641 278
BOLI 716 770 760 819 545
Other, net 271 22 433 317 267
Total non-interest income, net 8,875 9,375 10,014 11,004 8,850

NON-INTEREST EXPENSE

Salaries and employee benefits 17,805 17,694 19,356 21,743 16,655
Occupancy and depreciation 4,778 4,727 4,819 5,454 4,016
Data processing 1,807 1,775 2,111 2,313 1,874
Amortization of CDI 24 2 27 232 137
Advertising and marketing 628 669 754 747 609
FDIC insurance premium 627 500 356 476 246
State and local taxes 559 510 609 605 475
Telecommunications 295 292 317 417 266
Professional fees 1,089 904 1,628 1,181 1,120
REO 994 567 54 12 NA
Litigation settlement 0 100 500 0 NA
Other 2,138 2,207 2,450 2,438 1,339
Total non-interest expense 30,744 29,947 32,981 35,618 26,737
INCOME BEFORE INCOME TAXES 6,641 9,784 10,791 17,997 16,832
PROVISION FOR INCOME TAXES 2,150 3,426 3,387 7,755 3,773
NET INCOME 4,491 6,358 7,404 10,242 13,059

Earnings per common share

Basic 0.20 0.28 0.33 0.45 0.58
Diluted 0.20 0.28 0.33 0.45 0.58

Weighted average number of common shares outstanding

Basic 22,392,744 22,450,252 22,478,306 22,531,480 22,582,956
Diluted 22,431,839 22,494,151 22,548,340 22,618,330 22,658,153

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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

Other comprehensive income (loss)

Net unrealized holding gain (loss) from available for sale investment securities 1,513 321 (2,872) (2,719) 434
Reclassification adjustment for other than temporary impairment ("OTTI") of available for sale investment security included in income, net of tax 0 0 155 0 NA
Reclassification adjustment of net gain from sale of available for sale investment securities included in income, net of tax (104) 0 (53) 0 NA
Total other comprehensive income (loss), net 1,409 321 (2,770) (2,719) NA
Noncontrolling interest 65 47 0 0 NA
Total comprehensive income, net 5,965 6,726 4,634 7,523 13,493
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.