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
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

Operating Activities

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

Items not requiring (providing) cash

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

Investing Activities

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

Financing Activities

Net increase in deposits 941 15,181 47,163 83,884
Proceeds of Federal Home Loan Bank advances NA 19,500 11,000 0
Repayments of Federal Home Loan Bank advances (189) (6,175) (40,833) (9,916)
Net change in securities sold under repurchase agreements 593 3,701 1,692 (3,017)
Cash dividends paid (2,259) (2,540) (2,769) (3,221)
Treasury stock -net 19 NA NA NA
Net cash provided by financing activities (895) 29,667 16,253 67,730
Increase (decrease) in Cash and Cash Equivalents (26,463) (1,160) 2,774 10,938
Cash and Cash Equivalents, Beginning of Year 39,164 12,701 11,541 14,315
Cash and Cash Equivalents, End of Year 12,701 11,541 14,315 25,253

Supplemental Cash Flows Information

Interest paid on deposits and borrowings 2,271 1,796 1,807 3,285
Federal income taxes paid 1,180 1,133 1,575 715

Supplemental Disclosure of Non-Cash Investing Activities

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