As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 11,474 12,482 12,972 14,845 4,627

Adjustments to reconcile net income to net cash flows from operating activities

Depreciation, amortization, and accretion 2,997 2,557 3,308 4,073 747
(Credit) provision for loan losses 1,366 913 215 923 (105)
Impact of Tax Cuts and Jobs Act on Accumulated Other Comprehensive Income 0 0 486 0 NA
Deferred income tax provision (benefit) (58) 928 1,478 228 51
Increase in cash surrender value of bank owned life insurance (625) (746) (760) (738) (182)
Bank owned life insurance death benefits in excess of cash surrender value 0 0 (107) 0 NA
Realized (gain) loss from equity securities NA (8) (15) 73 (93)
Realized loss from sales of debt securities, available-for-sale (495) (1,074) (218) 8 18
Realized gain from sales of premises and equipment (1) 33 113 575 0
Realized loss from sale and impairment of other real estate owned and repossessed assets 378 534 3 14 NA
Origination of mortgage loans for sale (7,725) (11,217) (7,513) (8,924) (1,263)
Realized gains from sales of loans (343) (244) (166) (223) (29)
Proceeds from sales of mortgage loans 7,809 11,353 7,588 9,033 1,280
Penalty for prepayment of long-term debt 0 251 0 0 NA
Compensation expense related to stock options 19 5 1 0 NA
Compensation expense related to restricted stock 90 90 75 107 70
Changes in
Accrued income receivable (160) (216) (4) 215 (1,072)
Other assets (3,302) (791) (269) (1,811) (129)
Other liabilities 1,815 634 948 1,344 (1,597)
TOTAL ADJUSTMENTS 1,765 3,002 5,163 4,897 (2,304)
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 13,239 15,484 18,135 19,742 2,323

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from sales of equity securities NA 173 43 127 331
Proceeds from sales of debt securities, available-for-sale 97,981 92,282 43,203 8,545 21,806

Proceeds from maturities and calls of debt securities

Available-for-sale 29,700 84,529 25,012 24,249 1,790
Held-to-maturity 3,515 6,640 14,057 6,281 506
Purchases of equity securities NA (204) (80) (1,118) (345)

Purchases of debt securities

Available-for-sale (163,859) (124,730) (26,932) 0 0
Held-to-maturity (3,413) (25,010) (5,625) (3,431) (3,148)
Proceeds from maturities of interest-bearing time deposits NA 0 0 9,354 249
Purchase of Federal Reserve Bank stock (256) 0 0 (1,921) NA
Proceeds from sale of impaired loans 4,559 NA NA NA NA
Proceeds from redemption of Federal Reserve Bank stock NA NA NA NA 1
Net increase in loans (42,530) (48,153) (29,692) (65,842) (8,191)
Purchase of bank owned life insurance 0 (4,000) 0 0 NA
Proceeds from bank owned life insurance mortality benefits 0 0 189 0 NA
Proceeds from sales of other real estate owned and repossessed assets 245 526 971 21 NA
Additions to other real estate owned (20) (182) 0 0 NA
Purchases of premises and equipment (504) (9,450) (6,617) (600) (335)
Proceeds from sale of premises and equipment 22 63 272 651 0
Net cash acquired from acquisition 8,993 NA NA NA NA
Net cash received from acquisition of Columbus First Bancorp, Inc. NA 0 0 12,896 NA
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES (65,567) (27,516) 14,801 (10,788) 12,664

CASH FLOWS FROM FINANCING ACTIVITIES

Net increase in deposits 41,822 23,745 (25,084) (29,332) 46,938
Net decrease in short-term borrowings 20,742 4,653 4,960 (770) (56,230)
Proceeds from long-term debt NA 0 0 31,000 0
Principal payments on long-term debt (5,410) (5,349) (295) (7,214) (4,055)
Penalty for prepayment of long-term debt 0 (251) 0 0 NA
Proceeds from issuance of common stock 66 52 41 65 14
Repurchase of common stock NA 0 0 (348) NA
Repurchase of stock warrants 0 (1,545) 0 0 NA
Proceeds from exercise of stock options 152 592 51 72 0
Excess tax benefit from exercise of stock options and vesting of restricted common stock 13 61 0 0 NA
Cash dividends paid on common stock (5,915) (6,048) (6,088) (7,773) (2,167)
NET CASH FLOWS USED IN FINANCING ACTIVITIES 51,470 15,910 (26,415) (14,300) (15,500)
NET CHANGE IN CASH AND CASH EQUIVALENTS (858) 3,878 6,521 (5,346) (513)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 15,845 14,987 18,865 25,386 20,040
CASH AND CASH EQUIVALENTS AT END OF PERIOD 14,987 18,865 25,386 20,040 19,527

SUPPLEMENTAL CASH FLOW INFORMATION

Interest paid 3,396 3,542 3,577 5,908 2,607
Income taxes 4,820 4,420 2,185 1,950 NA

SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING ACTIVITY

Transfer from loans to other real estate owned and repossessed assets 79 32 974 244 NA

LCNB purchased all of the common stock of Columbus First Bancorp, Inc. on May 31, 2018. In conjunction with the acquisition, liabilities were assumed as follows

Fair value of assets acquired NA NA NA 342,256 NA
Less common stock issued NA NA NA 63,598 NA
Less cash paid for the common stock NA NA NA 783 NA
Liabilities assumed NA NA NA 277,875 NA
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