As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q2 YTD 6/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q2 YTD 6/30/2018 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 14,944 15,694 16,896 14,816 11,916

Adjustments to reconcile net income to net cash provided by operating activities

Provision for loan losses 1,550 1,075 132 362 330
Amortization of deferred charges and fees, net 1,060 1,027 1,655 972 459
Depreciation and amortization 1,817 1,935 2,107 1,948 919
Bank owned life insurance income (665) (667) (612) (584) (264)
(Gain)/loss on disposition of investment securities (1,073) (690) (438) 3 (2)
Compensation expense from stock option and restricted stock grants 509 498 968 1,000 NA
Share based compensation NA NA NA NA 1,511
Change in accrued interest receivable NA (297) (405) (501) (151)
Deferred income tax expense (benefit) NA (762) (828) 2,687 350
Change in other assets, net NA (1,024) (2,552) (751) (6,247)
Change in other liabilities, net NA 2,918 4,748 2,264 1,302
Change in loans held for sale 119 284 (6,506) 6,506 (566)
Change in accrued interest receivable, deferred taxes, other assets and other liabilities (2,216) NA NA NA NA
Other, net 56 25 43 (7) NA
Net cash provided by operating activities 16,101 20,016 15,208 28,715 9,557

CASH FLOWS FROM INVESTING ACTIVITIES

Origination of loans (301,863) (260,020) (275,866) (354,657) (245,108)
Proceeds from principal payments of loans 163,161 148,049 147,282 323,632 194,855
Proceeds from calls/maturities of securities available for sale 68,190 168,787 156,272 47,955 10,770
Proceeds from sales of securities available for sale 30,013 47,625 18,070 77,369 702
Purchase of bank owned life insurance (5,000) NA NA NA NA
Purchase of securities available for sale (43,741) (225,912) (154,719) (5,091) 0
Proceeds from calls/maturities of securities held to maturity 3,776 6,206 11,450 34,488 17,200
Purchase of securities held to maturity (24,295) (9,691) (11,238) (184,505) (64,960)
Proceeds from settlement of bank owned life insurance policies NA NA NA NA 676
(Purchase) sale of FHLB of Boston stock (1,724) 1,490 2,367 (144) (271)
Purchase of banking premises and equipment (233) (4,939) (1,187) (807) (726)
Net cash used by investing activities (111,716) (128,405) (107,569) (61,760) (86,862)

CASH FLOWS FROM FINANCING ACTIVITIES

Change in demand, interest bearing, money market and savings accounts NA 131,193 136,042 100,694 35,461
Change in certificates of deposit NA 55,495 (7,309) (11,411) (22,608)
Net change in deposits (38,511) NA NA NA NA
Change in short-term borrowings 69,000 (69,000) 0 0 0
Proceeds from long-term borrowings NA 3,950 0 0 NA
Repayment of long-term borrowings 0 (40) (164) (167) (85)
Cash dividends paid on common stock (6,602) (7,178) (7,428) (7,582) (3,935)
Repurchase of common stock (864) (667) (1,560) (470) NA
Proceeds from issuance of common stock 1,925 1,841 2,185 1,522 NA
Net cash provided by financing activities 24,948 115,594 121,766 82,586 8,833
Net decrease in cash and cash equivalents (70,667) 7,205 29,405 49,541 (68,472)
Cash and cash equivalents at beginning of period 88,107 17,440 24,645 54,050 103,591
Cash and cash equivalents at end of period 17,440 24,645 54,050 103,591 35,119

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during the period for

Interest 2,094 2,644 3,371 3,579 2,074
Income taxes 8,490 8,220 9,205 10,100 4,160
Non-cash transactions
Change in AOCI, net of taxes (2,937) 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.