As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD

Operating Activities

Net income 3,224 3,580 3,546 4,282 3,260

Items not requiring (providing) cash

Accretion of premiums and discounts on securities, net 1 (1) (1) 135 142
Gain on sale of available-for-sale securities (32) NA NA NA NA
Realized gains on sale of Great Lake Bankers Bank stock 0 (162) NA NA NA
Amortization of intangible asset NA NA NA NA 75
Depreciation and amortization 934 819 918 974 512
Amortization of intangible assets 66 NA NA NA NA
Expense related to share based compensation plans 164 147 163 287 121
Expense related to ESOP 196 231 280 280 136
Provision for loan losses 553 301 100 297 210
Provision for losses on foreclosed real estate 60 6 20 70 NA
Increase in value of bank-owned life insurance (763) (313) (292) (389) 93
Gain on sale of loans (42) (97) (98) (66) (13)
Proceeds from sale of loans held for sale 2,412 4,548 4,522 3,130 794
Originations of loans held for sale (2,370) (4,451) (4,424) (3,064) (781)
Loss on sale or write down of foreclosed assets 12 4 24 27 5
Amortization of mortgage servicing rights 13 12 6 42 0
Deferred income taxes (175) 82 545 375 (206)
Net change in accrued interest receivable and other assets NA NA NA NA (1,604)
Accrued interest receivable 26 (37) (153) (660) NA
Other assets (864) (34) (1,627) 589 NA
Net change in accrued expenses and other liabilities 860 (458) 1,038 (554) 1,910
Net cash provided by operating activities 4,275 4,177 4,567 5,755 4,654

Investing Activities

Securities available for sale

Maturities, prepayments and calls NA NA NA NA 6,250
Purchases (56,997) (42,000) (12,248) (78,117) (32,174)
Sale of available-for-sale securities 41,331 36,389 7,249 23,865 NA
Proceeds from maturities of held-to-maturity securities 450 NA NA NA NA
Proceeds from sale of available-for-sale securities 355 NA NA NA NA
Sale of interest-bearing time deposits NA NA 0 3,461 NA
Net change in loans (14,382) (27,468) (12,336) (34,971) (15,877)
Proceeds from sale of Great Lake Bankers Bank stock 0 208 NA NA NA
Mandatory redemption of Federal Home Loan Bank Stock NA NA NA NA 230
Purchases of premises and equipment (1,310) (2,257) (782) (785) (836)
Net cash received from acquisition of Powhatan Point Community Bancshares, Inc. NA NA 0 23,457 NA
Proceeds from sale of foreclosed assets 710 124 71 543 86
Net cash used in investing activities (29,843) (35,004) (18,046) (62,547) (42,321)

Financing Activities

Net change in deposits 941 15,181 47,163 83,884 20,804
Proceeds of Federal Home Loan Bank advances NA 19,500 11,000 0 NA
Net change in securities sold under repurchase agreements 593 3,701 1,692 (3,017) (394)
Repayment of Federal Home Loan Bank advances (189) (6,175) (40,833) (9,916) NA
Net change in FHLB overnight borrowings NA NA NA NA 0
Proceeds from issuance of subordinated debentures, net of origination fees NA NA NA NA 19,396
Repayments of long-term borrowings NA NA NA NA (105)
Repurchase of common stock NA NA NA NA (416)
Cash dividends paid on common stock (2,259) (2,540) (2,769) (3,221) (1,579)
Treasury stock -net 19 NA NA NA NA
Net cash provided by financing activities (895) 29,667 16,253 67,730 37,706
Increase in Cash and Cash Equivalents (26,463) (1,160) 2,774 10,938 39
Cash and Cash Equivalents, Beginning of Period 39,164 12,701 11,541 14,315 25,253
Cash and Cash Equivalents, End of Period 12,701 11,541 14,315 25,253 25,292

Supplemental Cash Flows Information

Interest paid on deposits and borrowings 2,271 1,796 1,807 3,285 3,691
Federal income taxes paid 1,180 1,133 1,575 715 NA
Purchases of available-for-sale securities not settled NA NA NA NA 7,187

Supplemental Disclosure of Non-Cash Investing and Financing Activities

Transfers from loans to foreclosed assets held for sale 0 111 149 280 30
Vesting of restricted stock 39 NA NA NA NA
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