As Reported Financial Statements
As-reported financial charting

As Reported Financials

Source Document Currency Code (in units) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD

Cash flows from operating activities
Net income 17,331,000 27,020,000 31,913,000 31,274,000 30,450,000

Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization 7,613,000 11,654,000 9,576,000 10,358,000 7,345,000
Accretion of acquired loans (3,194,000) (5,338,000) (4,925,000) (2,338,000) (1,057,000)
Provision for loan losses (3,000,000) (1,000,000) 2,900,000 2,950,000 1,100,000
Deferred income tax expense (benefit) 4,506,000 4,412,000 (812,000) 831,000 NA
Stock-based compensation expense 714,000 684,000 1,459,000 1,981,000 1,763,000
Stock grants to directors for retainer fee 155,000 403,000 327,000 363,000 403,000
Proceeds from sales of mortgage loans held for sale 67,422,000 120,880,000 114,757,000 111,311,000 77,276,000
Origination of mortgage loans held for sale (65,392,000) (116,997,000) (110,778,000) (108,857,000) (73,790,000)
Net gain from sales of mortgage loans held for sale (1,625,000) (3,626,000) (3,699,000) (3,972,000) (2,703,000)
Gain on trust preferred securities repurchase 0 0 (2,970,000) 0 NA
Net gain from sales and valuation write-downs of foreclosed assets (894,000) (62,000) (520,000) (319,000) (205,000)
Net (gain) loss from sales and valuation write-downs of former bank premises 0 0 35,000 133,000 (78,000)
Net loss from sales and write-downs of fixed assets 25,000 55,000 174,000 71,000 97,000
Net gain from sales of available for sale securities 0 (17,000) 1,000 (37,000) 0
Earnings on bank owned life insurance (1,184,000) (1,113,000) (1,264,000) (2,731,000) (969,000)
Net change in
Accrued interest receivable (11,000) (321,000) 122,000 (1,056,000) (1,217,000)
Other assets 1,795,000 (4,815,000) (648,000) (354,000) (2,744,000)
Accrued interest and other liabilities (9,822,000) 4,185,000 (1,046,000) (943,000) (779,000)
Net cash from operating activities 14,439,000 36,004,000 34,602,000 38,665,000 34,892,000

Cash flows from investing activities
Loan originations and payments, net (90,853,000) (188,932,000) (97,282,000) (178,373,000) (138,170,000)
Purchases of bank owned life insurance 0 0 (7,000,000) (1,500,000) NA
Cash received in merger 91,806,000 NA NA NA NA
Purchases of securities available for sale (19,874,000) (10,645,000) (164,336,000) (67,027,000) (35,729,000)
Proceeds from maturities, calls and repayments of securities available for sale 75,880,000 93,873,000 172,173,000 52,504,000 31,935,000
Proceeds from sales of securities available for sale 0 1,483,000 264,000 7,619,000 0
Proceeds from sales of foreclosed assets 4,427,000 2,967,000 2,059,000 993,000 597,000
Proceeds from sales of former bank premises 0 0 45,000 25,000 1,964,000
Purchases of Federal Home Loan Bank stock 0 0 (459,000) (3,010,000) (36,000)
Proceeds from Federal Home Loan Bank stock redemption 5,527,000 6,132,000 0 0 NA
Proceeds from bank owned life insurance cash value release and death benefits NA 0 0 2,720,000 0
Net purchases of premises and equipment (2,175,000) (1,081,000) (2,025,000) (5,423,000) (5,084,000)
Net cash for investing activities 64,738,000 (96,203,000) (96,561,000) (191,472,000) (144,523,000)

Cash flows from financing activities
Net decrease in time deposits (58,927,000) (147,106,000) (20,854,000) (55,839,000) (50,574,000)
Net increase in all other deposits (11,307,000) 146,944,000 120,457,000 203,219,000 37,019,000
Net decrease in securities sold under agreements to repurchase 43,780,000 (12,798,000) (23,061,000) (12,962,000) (6,370,000)
Maturities of Federal Home Loan Bank advances (3,000,000) (6,000,000) (3,000,000) (45,000,000) (30,000,000)
Proceeds from Federal Home Loan Bank advances 0 20,000,000 110,000,000 90,000,000 50,000,000
Proceeds from stock option exercises 282,000 891,000 978,000 318,000 66,000
Employee stock purchase plan 23,000 44,000 36,000 46,000 40,000
Dividend reinvestment plan 209,000 655,000 1,601,000 1,576,000 500,000
Repurchase of common stock 0 (15,762,000) (3,732,000) 0 NA
Repurchase of trust preferred securities 0 0 (8,030,000) 0 NA
Payment of cash dividends to common shareholders (24,464,000) (9,516,000) (18,731,000) (12,046,000) (11,134,000)
Net cash (for) from financing activities (53,404,000) (22,648,000) 155,664,000 169,312,000 (10,453,000)
Net change in cash and cash equivalents 25,773,000 (82,847,000) 93,705,000 16,505,000 (120,084,000)
Cash and cash equivalents at beginning of period 146,965,000 172,738,000 89,891,000 183,596,000 200,101,000
Cash and cash equivalents at end of period 172,738,000 89,891,000 183,596,000 200,101,000 80,017,000

Supplemental disclosures of cash flows information

Cash paid during the period for
Interest 11,439,000 11,618,000 12,477,000 15,468,000 15,266,000
Federal income tax 2,625,000 8,000,000 15,125,000 14,225,000 7,425,000

Noncash financing and investing activities
Transfers from loans to foreclosed assets 1,490,000 2,203,000 414,000 887,000 670,000
Transfers from bank premises to other real estate owned 0 0 381,000 1,736,000 296,000
Common stock issued in connection with the Firstbank merger 173,310,000 NA 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.