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
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

CASH FLOWS FROM OPERATING ACTIVITIES

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

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

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

CASH FLOWS FROM INVESTING ACTIVITIES

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

Proceeds from maturities and calls of debt securities

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

Purchases of debt securities

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

CASH FLOWS FROM FINANCING ACTIVITIES

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

SUPPLEMENTAL CASH FLOW INFORMATION

CASH PAID DURING THE YEAR FOR

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

SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING ACTIVITY

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

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
Less common stock issued NA NA NA 63,598
Less cash paid for the common stock NA NA NA 783
Liabilities assumed NA NA NA 277,875
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.