First Internet Bancorp(NASDAQ:INBK) 
First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services to individuals and commercial customers in the United States. The company accept non-interest bearing and interest-bearing demand deposit, ...
Website: http://www.firstinternetbancorp.com
Founded: 1996
Full Time Employees: 227
Sector: Financial Services
Industry: Banks-Regional
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At a glance:
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Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2020-06-30 |
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interest income | ||||||||||||||||||
loans | 68,958,000 | 66,685,000 | 62,662,000 | 61,523,000 | 59,792,000 | 57,094,000 | 52,690,000 | 48,898,000 | 46,906,000 | 43,843,000 | 40,354,000 | 34,643,000 | 32,415,000 | 33,188,000 | 31,621,000 | 30,126,000 | 30,835,000 | 29,730,000 |
securities – taxable | 8,614,000 | 9,062,000 | 8,463,000 | 7,619,000 | 6,953,000 | 6,476,000 | 5,447,000 | 4,301,000 | 3,835,000 | 3,606,000 | 3,222,000 | 2,701,000 | 2,567,000 | 2,221,000 | 1,973,000 | 2,297,000 | 1,921,000 | 3,276,000 |
securities – non-taxable | 652,000 | 654,000 | 661,000 | 794,000 | 1,042,000 | 970,000 | 962,000 | 912,000 | 860,000 | 798,000 | 699,000 | 491,000 | 328,000 | 249,000 | 236,000 | 241,000 | 259,000 | 457,000 |
other earning assets | 6,164,000 | 4,485,000 | 5,043,000 | 7,835,000 | 7,203,000 | 6,421,000 | 7,173,000 | 8,904,000 | 6,521,000 | 3,786,000 | 1,394,000 | 1,264,000 | 796,000 | 376,000 | 362,000 | 370,000 | 362,000 | 759,000 |
total interest income | 84,388,000 | 80,886,000 | 76,829,000 | 77,771,000 | 74,990,000 | 70,961,000 | 66,272,000 | 63,015,000 | 58,122,000 | 52,033,000 | 45,669,000 | 39,099,000 | 36,106,000 | 36,034,000 | 34,192,000 | 33,034,000 | 33,377,000 | 34,222,000 |
interest expense | ||||||||||||||||||
deposits | 50,134,000 | 46,794,000 | 47,626,000 | 49,111,000 | 47,415,000 | 44,495,000 | 41,078,000 | 40,339,000 | 34,676,000 | 27,270,000 | 18,807,000 | 10,520,000 | 6,408,000 | 6,097,000 | 6,399,000 | 7,090,000 | 7,705,000 | 15,763,000 |
other borrowed funds | 3,902,000 | 6,102,000 | 4,107,000 | 5,109,000 | 5,810,000 | 5,139,000 | 5,387,000 | 5,298,000 | 5,301,000 | 5,189,000 | 5,193,000 | 4,585,000 | 4,018,000 | 4,187,000 | 4,288,000 | 5,025,000 | 4,065,000 | 4,033,000 |
total interest expense | 54,036,000 | 52,896,000 | 51,733,000 | 54,220,000 | 53,225,000 | 49,634,000 | 46,465,000 | 45,637,000 | 39,977,000 | 32,459,000 | 24,000,000 | 15,105,000 | 10,426,000 | 10,284,000 | 10,687,000 | 12,115,000 | 11,770,000 | 19,796,000 |
net interest income | 30,352,000 | 27,990,000 | 25,096,000 | 23,551,000 | 21,765,000 | 21,327,000 | 19,807,000 | 17,378,000 | 18,145,000 | 19,574,000 | 21,669,000 | 23,994,000 | 25,680,000 | 25,750,000 | 23,505,000 | 20,919,000 | 21,607,000 | 14,426,000 |
provision for credit losses - loans | 34,393,000 | 13,596,000 | 12,121,000 | 8,455,000 | 3,858,000 | 3,920,000 | 3,478,000 | 1,850,000 | ||||||||||
benefit for credit losses - debt securities held to maturity | -12,000 | -20,000 | -23,250 | -29,000 | -2,000 | -3,750 | -15,000 | |||||||||||
provision for credit losses - off-balance sheet commitments | 396,000 | 24,000 | -1,208,000 | -439,000 | 113,000 | 143,000 | 111,000 | |||||||||||
net interest income after provision for credit losses | -4,437,000 | 14,382,000 | 13,163,000 | 16,350,000 | 18,375,000 | 17,296,000 | 16,213,000 | 15,432,000 | 16,447,000 | 10,159,000 | ||||||||
noninterest income | ||||||||||||||||||
service charges and fees | 369,000 | 278,000 | 265,000 | 248,000 | 245,000 | 246,000 | 216,000 | 208,000 | 218,000 | 209,000 | 226,000 | 248,000 | 281,000 | 316,000 | 292,000 | 276,000 | 280,000 | 182,000 |
loan servicing revenue | 2,055,000 | 1,979,000 | 1,983,000 | 1,825,000 | 1,570,000 | 1,470,000 | 1,134,000 | 1,064,000 | 850,000 | 785,000 | 715,000 | 653,000 | 620,000 | 585,000 | 544,000 | 511,000 | 457,000 | 255,000 |
loan servicing asset revaluation | -1,332,000 | -1,153,000 | -1,181,000 | -428,000 | -846,000 | -829,000 | -793,000 | -257,000 | -358,000 | -55,000 | -539,000 | -333,000 | -470,000 | -297,000 | -400,000 | -274,000 | -240,000 | -90,000 |
gain on sale of loans | -27,103,000 | 1,673,000 | 8,647,000 | 8,568,000 | 9,933,000 | 8,292,000 | 6,028,000 | 5,569,000 | 4,868,000 | 4,061,000 | 2,862,000 | 2,713,000 | 1,952,000 | 3,845,000 | 4,137,000 | 2,719,000 | 3,019,000 | 762,000 |
other | 1,364,000 | 2,780,000 | 713,000 | 5,723,000 | 1,127,000 | 1,854,000 | 816,000 | 823,000 | 293,000 | 370,000 | 1,533,000 | 164,000 | 221,000 | 498,000 | 345,000 | 731,000 | 249,000 | 456,000 |
total noninterest income | -24,647,000 | 5,557,000 | 10,427,000 | 15,936,000 | 12,029,000 | 11,033,000 | 7,401,000 | 7,407,000 | 5,871,000 | 5,446,000 | 5,807,000 | 4,316,000 | 4,314,000 | 6,820,000 | 7,694,000 | 7,813,000 | 8,962,000 | 4,973,000 |
noninterest expense | ||||||||||||||||||
salaries and employee benefits | 14,384,000 | 10,867,000 | 13,107,000 | 14,042,000 | 13,456,000 | 12,462,000 | 11,055,000 | 11,767,000 | 10,706,000 | 11,794,000 | 10,404,000 | 10,439,000 | 10,832,000 | 9,878,000 | 10,183,000 | 9,316,000 | 9,232,000 | 7,789,000 |
marketing, advertising and promotion | 482,000 | 702,000 | 647,000 | 696,000 | 548,000 | 609,000 | 518,000 | 500,000 | 705,000 | 844,000 | 837,000 | 1,041,000 | 920,000 | 756,000 | 896,000 | 813,000 | 872,000 | 411,000 |
consulting and professional services | 979,000 | 936,000 | 1,228,000 | 694,250 | 902,000 | 1,022,000 | 547,250 | 552,000 | 711,000 | 926,000 | 978,000 | 790,000 | 1,197,000 | 1,925,000 | 698,000 | 728,000 | 1,078,000 | 932,000 |
data processing | 651,000 | 656,000 | 635,000 | 603,000 | 675,000 | 606,000 | 493,000 | 701,000 | 520,000 | 659,000 | 567,000 | 483,000 | 490,000 | 449,000 | 425,000 | 380,000 | 382,000 | 339,000 |
loan expenses | 1,850,000 | 1,520,000 | 1,531,000 | 1,381,000 | 1,524,000 | 1,597,000 | 1,371,000 | 1,336,000 | 1,072,000 | 1,977,000 | 1,018,000 | 1,142,000 | 693,000 | 1,582,000 | 654,000 | 383,000 | 541,000 | 399,000 |
premises and equipment | 3,572,000 | 3,281,000 | 3,115,000 | 3,004,000 | 2,918,000 | 3,154,000 | 2,846,000 | 2,315,000 | 2,661,000 | 2,777,000 | 2,921,000 | 2,808,000 | 2,419,000 | 2,540,000 | 2,188,000 | 1,687,000 | 1,587,000 | 1,602,000 |
deposit insurance premium | 1,584,000 | 1,564,000 | 1,398,000 | 1,464,000 | 1,219,000 | 1,172,000 | 1,334,000 | 1,067,000 | 936,000 | 543,000 | 355,000 | 229,000 | 287,000 | 281,000 | 283,000 | 230,000 | 275,000 | 435,000 |
total noninterest expense | 25,459,000 | 21,800,000 | 23,556,000 | 23,957,000 | 22,794,000 | 22,336,000 | 20,056,000 | 19,756,000 | 18,670,000 | 20,954,000 | 18,513,000 | 17,995,000 | 17,985,000 | 18,780,000 | 16,955,000 | 14,451,000 | 15,075,000 | 13,244,000 |
income before income taxes | -54,543,000 | -1,861,000 | 34,000 | 8,329,000 | 7,610,000 | 5,993,000 | 3,558,000 | 3,083,000 | 3,648,000 | -5,349,000 | 6,854,000 | 9,423,000 | 10,824,000 | 12,999,000 | 14,482,000 | 14,310,000 | 15,473,000 | 3,664,000 |
income tax provision | -12,950,000 | -2,054,000 | -909,000 | 999,000 | 620,000 | 218,000 | -585,000 | -326,000 | -234,000 | -2,332,000 | 503,000 | 987,000 | 1,279,000 | 1,790,000 | 2,004,000 | 2,220,000 | 2,377,000 | -268,000 |
net income | -41,593,000 | 193,000 | 943,000 | 7,330,000 | 6,990,000 | 5,775,000 | 4,143,000 | 3,409,000 | 3,882,000 | -3,017,000 | 6,351,000 | 8,436,000 | 9,545,000 | 11,209,000 | 12,478,000 | 12,090,000 | 13,096,000 | 3,932,000 |
yoy | -695.04% | -96.66% | -77.24% | 115.02% | 80.06% | -291.42% | -34.77% | -59.59% | -59.33% | -126.92% | -49.10% | -30.22% | -27.12% | 185.07% | ||||
qoq | -21650.78% | -79.53% | -87.14% | 4.86% | 21.04% | 39.39% | 21.53% | -12.18% | -228.67% | -147.50% | -24.72% | -11.62% | -14.85% | -10.17% | 3.21% | -7.68% | 233.06% | |
income per share of common stock | ||||||||||||||||||
basic | -4.76 | 0.02 | 0.11 | 0.84 | 0.8 | 0.67 | 0.47 | 0.39 | 0.44 | -0.33 | 0.69 | 0.89 | 0.99 | 1.14 | 1.26 | 1.22 | 1.32 | 0.4 |
diluted | -4.76 | 0.02 | 0.11 | 0.83 | 0.8 | 0.67 | 0.47 | 0.39 | 0.44 | -0.33 | 0.69 | 0.89 | 0.99 | 1.14 | 1.25 | 1.21 | 1.31 | 0.4 |
weighted-average number of common shares outstanding | ||||||||||||||||||
basic | 8,742,052 | 8,733,559 | 8,715,655 | 8,690,416 | 8,696,634 | 8,594,315 | 8,837,558 | 8,744,385 | 8,903,213 | 9,024,072 | 9,530,921 | 9,458,259 | 9,600,383 | 9,790,122 | 9,918,083 | 9,936,237 | 9,932,761 | 9,768,227 |
diluted | 8,742,052 | 8,760,374 | 8,784,970 | 8,765,725 | 8,768,731 | 8,656,215 | 8,858,890 | 8,767,217 | 8,908,180 | 9,024,072 | 9,595,115 | 9,525,855 | 9,658,689 | 9,870,394 | 9,976,261 | 9,988,102 | 9,981,422 | 9,768,227 |
dividends declared per share | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
benefit for credit losses - off-balance sheet commitments | -168,000 | |||||||||||||||||
mortgage banking activities | 76,000 | 1,010,000 | 871,000 | 1,710,000 | 1,873,000 | 2,776,000 | 3,850,000 | 2,674,000 | 3,408,000 | |||||||||
provision for credit losses 1 | 1,698,000 | 9,415,000 | ||||||||||||||||
provision for loan losses | 2,109,000 | 892,000 | 1,185,000 | 791,000 | -238,000 | -29,000 | 21,000 | 2,491,000 | ||||||||||
net interest income after provision for loan losses | 19,560,000 | 23,102,000 | 24,495,000 | 24,959,000 | 23,743,000 | 20,948,000 | 21,586,000 | 11,935,000 | ||||||||||
gain on sale of premises and equipment | 2,523,000 | |||||||||||||||||
gain on sale of securities | ||||||||||||||||||
write-down of other real estate owned |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-06-30 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-06-30 | 2020-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2016-12-31 | 2016-03-31 | 2015-12-31 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 |
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assets | ||||||||||||||||||||||||||
cash and due from banks | 10,923,000 | 9,261,000 | 6,344,000 | 6,162,000 | 3,595,000 | 9,503,000 | 27,741,000 | 17,426,000 | 14,743,000 | 6,155,000 | 20,976,000 | 7,492,000 | 4,347,000 | 7,016,000 | 5,675,000 | 4,539,000 | 4,509,000 | 2,282,000 | 2,411,000 | 1,063,000 | 1,472,000 | 1,940,000 | 1,137,000 | 1,926,000 | 2,762,000 | 2,578,000 |
interest-bearing deposits | 776,738,000 | 437,100,000 | 388,110,000 | 390,624,000 | 517,610,000 | 456,128,000 | 276,231,000 | 3,265,930,000 | 206,309,000 | 201,798,000 | 496,573,000 | 3,061,428,000 | 324,450,000 | 491,603,000 | 58,072,000 | 2,040,255,000 | 121,195,000 | 1,431,701,000 | 1,214,233,000 | 932,354,000 | 801,991,000 | 736,808,000 | 717,611,000 | 725,108,000 | 710,605,000 | 653,709,000 |
total cash and cash equivalents | 787,661,000 | 446,361,000 | 394,454,000 | 396,786,000 | 521,205,000 | 465,631,000 | 303,972,000 | 256,552,000 | 221,052,000 | 207,953,000 | 517,549,000 | 442,960,000 | 328,797,000 | 498,619,000 | 63,747,000 | 47,981,000 | 125,704,000 | 39,452,000 | 100,944,000 | 25,152,000 | 39,572,000 | 28,289,000 | 39,607,000 | 20,644,000 | 57,460,000 | 53,690,000 |
securities available-for-sale, at fair value | 625,906,000 | 644,657,000 | 681,785,000 | 488,572,000 | 450,827,000 | 379,394,000 | 395,833,000 | 393,565,000 | 425,489,000 | 465,288,000 | 663,519,000 | 589,017,000 | 463,652,000 | 492,468,000 | 315,311,000 | 163,676,000 | 128,203,000 | |||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 0.1 million and 0.2 million in 2025 and 2024, respectively, | 261,725,000 | 271,737,000 | 276,542,000 | |||||||||||||||||||||||
loans held-for-sale | 141,580,000 | 126,533,000 | 31,738,000 | 19,384,000 | 31,669,000 | 32,001,000 | 18,144,000 | 21,511,000 | 23,103,000 | 31,580,000 | 33,991,000 | 47,745,000 | 27,587,000 | 17,067,000 | 51,407,000 | 45,487,000 | 27,101,000 | 29,491,000 | 36,518,000 | 27,584,000 | 34,671,000 | 27,547,000 | 21,466,000 | 17,273,000 | ||
loans | 3,603,506,000 | 4,362,562,000 | 4,254,412,000 | 3,961,146,000 | 3,735,068,000 | 3,646,832,000 | 3,607,242,000 | 3,499,401,000 | 3,255,906,000 | 3,082,127,000 | 2,880,780,000 | 2,887,662,000 | 2,957,608,000 | 2,973,674,000 | 2,209,405,000 | 2,091,193,000 | 1,868,487,000 | 1,250,789,000 | ||||||||
allowance for credit losses - loans | -59,923,000 | -46,517,000 | -47,238,000 | -43,405,000 | -36,452,000 | -36,058,000 | -36,879,000 | |||||||||||||||||||
net loans | 3,543,583,000 | 4,316,045,000 | 4,207,174,000 | 3,917,741,000 | 3,698,616,000 | 3,610,774,000 | 3,570,363,000 | 3,467,664,000 | 3,226,040,000 | 3,052,974,000 | 2,852,529,000 | 2,859,821,000 | 2,929,542,000 | 2,949,209,000 | 2,193,845,000 | 2,076,223,000 | 1,854,400,000 | 1,239,808,000 | ||||||||
accrued interest receivable | 26,674,000 | 31,227,000 | 29,022,000 | 28,118,000 | 23,761,000 | 24,101,000 | 22,322,000 | 21,069,000 | 16,918,000 | 17,466,000 | 15,263,000 | 16,037,000 | 16,345,000 | 21,093,000 | 11,898,000 | 11,944,000 | 9,366,000 | 6,708,000 | 4,528,000 | 4,105,000 | 3,040,000 | 2,833,000 | 2,803,000 | 2,694,000 | 2,662,000 | 2,904,000 |
federal home loan bank of indianapolis stock | 28,350,000 | 28,350,000 | 28,350,000 | 28,350,000 | 28,350,000 | 28,350,000 | 28,350,000 | 28,350,000 | 28,350,000 | 25,219,000 | 25,219,000 | 25,650,000 | 25,650,000 | 25,650,000 | 20,250,000 | 19,575,000 | 19,575,000 | 8,910,000 | 8,595,000 | 8,595,000 | 5,350,000 | 5,350,000 | 2,943,000 | 2,943,000 | 2,943,000 | 2,943,000 |
cash surrender value of bank-owned life insurance | 42,256,000 | 41,961,000 | 41,675,000 | 40,834,000 | 40,619,000 | 40,357,000 | 40,105,000 | 39,859,000 | 39,612,000 | 39,369,000 | 39,133,000 | 38,900,000 | 38,421,000 | 37,474,000 | 35,342,000 | 35,105,000 | 34,856,000 | 24,195,000 | 12,826,000 | 12,727,000 | 12,423,000 | 12,325,000 | 12,226,000 | 12,128,000 | 12,031,000 | 11,935,000 |
premises and equipment | 68,843,000 | 69,930,000 | 70,461,000 | 72,516,000 | 74,197,000 | 73,525,000 | 74,248,000 | 72,711,000 | 70,747,000 | 70,288,000 | 68,632,000 | 59,842,000 | 44,249,000 | 23,939,000 | 10,110,000 | 10,058,000 | 9,739,000 | 10,044,000 | 8,485,000 | 8,521,000 | 7,040,000 | 7,061,000 | 7,075,000 | 7,133,000 | 6,836,000 | 7,134,000 |
goodwill | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 | 4,687,000 |
servicing asset, at fair value | 22,107,000 | 16,736,000 | 17,445,000 | 13,009,000 | 9,579,000 | 8,252,000 | 7,312,000 | 6,255,000 | 5,795,000 | 5,345,000 | 5,249,000 | 4,702,000 | 4,120,000 | 2,522,000 | ||||||||||||
other real estate owned | 1,801,000 | 1,730,000 | 1,518,000 | 106,000 | 106,000 | 106,000 | 1,188,000 | 1,300,000 | 2,065,000 | 5,041,000 | 5,041,000 | 5,136,000 | 4,533,000 | 4,488,000 | 4,488,000 | 4,488,000 | 4,488,000 | 4,545,000 | 4,664,000 | 4,651,000 | 4,381,000 | |||||
accrued income and other assets | 84,001,000 | 72,619,000 | 66,757,000 | 62,956,000 | 53,479,000 | 49,266,000 | 45,116,000 | 44,894,000 | 43,498,000 | 34,323,000 | 34,487,000 | 46,853,000 | 54,766,000 | 63,217,000 | 17,883,000 | 13,182,000 | 12,792,000 | 15,276,000 | 5,901,000 | 4,871,000 | 4,513,000 | 4,655,000 | 4,782,000 | 3,682,000 | 5,346,000 | 6,422,000 |
total assets | 5,639,174,000 | 6,072,573,000 | 5,851,608,000 | 5,343,302,000 | 5,169,023,000 | 4,947,049,000 | 4,721,319,000 | 4,543,104,000 | 4,264,424,000 | 4,099,806,000 | 4,225,397,000 | 4,210,994,000 | 4,204,642,000 | 4,324,600,000 | 2,862,728,000 | 2,767,687,000 | 2,633,422,000 | 1,854,335,000 | 1,527,719,000 | 1,269,870,000 | 1,035,677,000 | 970,503,000 | 926,883,000 | 868,107,000 | 848,119,000 | 802,342,000 |
liabilities and shareholders’ equity | ||||||||||||||||||||||||||
liabilities | ||||||||||||||||||||||||||
noninterest-bearing deposits | 243,539,000 | 145,166,000 | 151,815,000 | 126,438,000 | 125,265,000 | 119,291,000 | 140,449,000 | 175,315,000 | 142,875,000 | 126,153,000 | 119,196,000 | 117,531,000 | 113,996,000 | 82,864,000 | 47,678,000 | 44,686,000 | 33,734,000 | 31,166,000 | 28,945,000 | 23,700,000 | 19,178,000 | 21,790,000 | ||||
total deposits | 4,915,434,000 | 5,298,789,000 | 4,945,625,000 | 4,273,922,000 | 4,083,545,000 | 3,854,308,000 | 3,622,290,000 | 3,441,245,000 | 3,192,644,000 | 3,152,101,000 | 3,217,979,000 | 3,178,959,000 | 3,206,147,000 | 3,380,789,000 | 2,177,121,000 | 2,084,941,000 | 1,997,028,000 | 1,462,867,000 | 1,243,178,000 | 956,054,000 | 821,169,000 | 758,598,000 | 737,970,000 | 744,173,000 | 727,652,000 | 673,095,000 |
advances from federal home loan bank | 249,500,000 | 264,500,000 | 395,000,000 | 575,000,000 | 614,933,000 | 614,931,000 | 614,929,000 | 614,928,000 | 589,926,000 | 464,925,000 | 514,923,000 | 514,922,000 | 514,919,000 | 514,913,000 | 413,173,000 | 410,176,000 | 365,180,000 | 189,981,000 | 150,969,000 | 190,957,000 | 106,921,000 | 106,897,000 | 86,871,000 | 21,845,000 | 21,819,000 | 31,793,000 |
subordinated debt, net of unamortized debt issuance costs of 1,614 and 1,850 in 2025 and 2024, respectively | 105,386,000 | |||||||||||||||||||||||||
accrued interest payable | 1,236,000 | 1,614,000 | 1,645,000 | 3,419,000 | 2,968,000 | 3,338,000 | 2,592,000 | 2,913,000 | 1,887,000 | 2,005,000 | 1,532,000 | 2,018,000 | 1,132,000 | 1,073,000 | 410,000 | 311,000 | 237,000 | 112,000 | 108,000 | 117,000 | 104,000 | 97,000 | 82,000 | 96,000 | 83,000 | 102,000 |
accrued expenses and other liabilities | 15,450,000 | 12,124,000 | 16,363,000 | 14,015,000 | 15,072,000 | 15,456,000 | 21,328,000 | 14,512,000 | 14,654,000 | 11,062,000 | 12,002,000 | 30,526,000 | 53,932,000 | 50,433,000 | 10,437,000 | 11,406,000 | 13,421,000 | 10,855,000 | 12,883,000 | 5,688,000 | 5,227,000 | 5,253,000 | 4,334,000 | 4,628,000 | 4,112,000 | 3,655,000 |
total liabilities | 5,287,006,000 | 5,682,334,000 | 5,463,861,000 | 4,971,349,000 | 4,821,279,000 | 4,592,717,000 | 4,365,747,000 | 4,178,130,000 | 3,903,567,000 | 3,734,474,000 | 3,850,742,000 | 3,830,656,000 | 3,846,001,000 | 4,016,889,000 | 2,637,904,000 | 2,543,560,000 | 2,412,555,000 | 1,700,393,000 | 1,419,889,000 | 1,165,540,000 | 936,315,000 | 873,718,000 | 832,109,000 | 773,573,000 | 756,475,000 | 711,434,000 |
commitments and contingencies | ||||||||||||||||||||||||||
shareholders’ equity | ||||||||||||||||||||||||||
preferred stock, no par value; 4,913,779 shares authorized; issued and outstanding - none | ||||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,713,094 and 8,667,894 shares issued and outstanding in 2025 and 2024, respectively | 186,608,000 | 186,116,000 | ||||||||||||||||||||||||
nonvoting common stock, no par value; 86,221 shares authorized; issued and outstanding - none | ||||||||||||||||||||||||||
retained earnings | 188,564,000 | 230,690,000 | 231,031,000 | 217,365,000 | 203,856,000 | 200,973,000 | 197,623,000 | 205,675,000 | 199,877,000 | 192,011,000 | 183,043,000 | 172,431,000 | 149,066,000 | 108,431,000 | 63,677,000 | 57,103,000 | 54,119,000 | 43,704,000 | 35,135,000 | 32,980,000 | 26,938,000 | 25,146,000 | 23,951,000 | 22,938,000 | 22,233,000 | 21,902,000 |
accumulated other comprehensive loss | -23,004,000 | -26,567,000 | -29,157,000 | -30,587,000 | -41,197,000 | -33,186,000 | -31,253,000 | -33,636,000 | -39,143,000 | -30,750,000 | -22,861,000 | -11,039,000 | -12,911,000 | -21,138,000 | -11,274,000 | -5,019,000 | -5,035,000 | -9,268,000 | -2,000 | -1,209,000 | -135,000 | -882,000 | -1,967,000 | |||
total shareholders’ equity | 352,168,000 | 390,239,000 | 387,747,000 | 371,953,000 | 347,744,000 | 354,332,000 | 355,572,000 | 364,974,000 | 360,857,000 | 365,332,000 | 374,655,000 | 380,338,000 | 358,641,000 | 307,711,000 | 224,824,000 | 224,127,000 | 220,867,000 | 153,942,000 | 107,830,000 | 104,330,000 | 99,362,000 | 96,785,000 | 94,774,000 | 94,534,000 | 91,644,000 | 90,908,000 |
total liabilities and shareholders’ equity | 5,639,174,000 | 6,072,573,000 | 5,851,608,000 | 5,343,302,000 | 5,169,023,000 | 4,947,049,000 | 4,721,319,000 | 4,543,104,000 | 4,264,424,000 | 4,099,806,000 | 4,225,397,000 | 4,210,994,000 | 4,204,642,000 | 4,324,600,000 | 2,862,728,000 | 2,767,687,000 | 2,633,422,000 | 1,854,335,000 | 1,527,719,000 | 1,269,870,000 | 1,035,677,000 | 970,503,000 | 926,883,000 | 868,107,000 | 848,119,000 | 802,342,000 |
subordinated debt, net of unamortized debt issuance costs of 1,693 and 1,850 in 2025 and 2024, respectively | 105,307,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 1,772 and 1,850 in 2025 and 2024, respectively | 105,228,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,697,085 and 8,667,894 shares issued and outstanding in 2025 and 2024, respectively | 185,873,000 | |||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 0.2 million and 0.3 million in 2024 and 2023, respectively, | 270,349,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,007 and 2,162 in 2024 and 2023, respectively | 104,993,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,667,894 and 8,644,451 shares issued and outstanding in 2024 and 2023, respectively | 185,175,000 | |||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses | 231,928,000 | 230,605,000 | 210,761,000 | |||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,239 and 2,468 in 2023 and 2022, respectively | 104,761,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,669,673 and 9,065,883 shares issued and outstanding in 2023 and 2022, respectively | 185,085,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,316 and 2,468 in 2023 and 2022, respectively | 104,684,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,774,507 and 9,065,883 shares issued and outstanding in 2023 and 2022, respectively | 186,545,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,392 and 2,468 in 2023 and 2022, respectively | 104,608,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,943,477 and 9,065,883 shares issued and outstanding in 2023 and 2022, respectively | 189,202,000 | |||||||||||||||||||||||||
interest-bearing demand deposits | 239,126,000 | 435,468,000 | 43,442,000 | 37,170,000 | 98,533,000 | 24,089,000 | 38,100,000 | 26,349,000 | 38,470,000 | 18,718,000 | 54,698,000 | 51,112,000 | ||||||||||||||
securities available-for-sale - at fair value | 390,384,000 | 603,044,000 | 473,275,000 | 456,700,000 | 213,698,000 | 159,528,000 | 204,869,000 | |||||||||||||||||||
securities held-to-maturity - at amortized cost | 189,168,000 | 59,565,000 | 19,209,000 | 16,671,000 | ||||||||||||||||||||||
allowance for loan losses | -31,737,000 | -29,866,000 | -29,153,000 | -28,251,000 | -27,841,000 | -28,066,000 | -24,465,000 | -15,560,000 | -14,970,000 | -14,087,000 | -10,981,000 | -9,220,000 | -8,351,000 | -6,378,000 | -5,800,000 | -5,464,000 | -5,140,000 | |||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 2,468 in 2022 and 2,769 in 2021 | 104,532,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 9,065,883 and 9,754,455 shares issued and outstanding in 2022 and 2021, respectively | 192,935,000 | |||||||||||||||||||||||||
securities held-to-maturity, at amortized cost | 191,057,000 | 185,113,000 | 163,370,000 | 65,659,000 | 68,295,000 | 19,206,000 | 19,212,000 | |||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,544 and 2,769 in 2022 and 2021, respectively | 104,456,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 9,290,885 and 9,754,455 shares issued and outstanding in 2022 and 2021, respectively | 200,123,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,619 and 2,769 in 2022 and 2021, respectively | 104,381,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 9,404,000 and 9,754,455 shares issued and outstanding in 2022 and 2021, respectively | 204,071,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,694 and 2,769 in 2022 and 2021, respectively | 104,306,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 9,683,727 and 9,754,455 shares issued and outstanding in 2022 and 2021, respectively | 214,473,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 2,769 in 2021 and 2,397 in 2020 | 104,231,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 9,754,455 and 9,800,569 shares issued and outstanding in 2021 and 2020, respectively | 218,946,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,129 and 2,397 in 2021 and 2020, respectively | 69,871,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 9,854,153 and 9,800,569 shares issued and outstanding in 2021 and 2020, respectively | 222,486,000 | |||||||||||||||||||||||||
loans held-for-sale, at fair value | 38,813,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized debt issuance costs of 2,319 and 2,472 in 2020 and 2019, respectively | 69,681,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 9,799,047 and 9,741,800 shares issued and outstanding in 2020 and 2019, respectively | 220,418,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 1,237 and 1,274 in 2018 and 2017, respectively | 36,763,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,450,925 and 8,411,077 shares issued and outstanding in 2018 and 2017, respectively | 172,421,000 | |||||||||||||||||||||||||
interest-bearing time deposits | 250,000 | 1,000,000 | 1,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,500,000 | 2,500,000 | |||||||||||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 1,274 in 2017 and 1,422 in 2016 | 36,726,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 8,411,077 and 6,478,050 shares issued and outstanding in 2017 and 2016, respectively | 172,043,000 | 171,783,000 | ||||||||||||||||||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 1,311 and 1,422 in 2017 and 2016, respectively | 36,689,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 1,422 in 2016 and 276 in 2015 | 36,578,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 6,478,050 in 2016 and 4,481,347 in 2015 shares issued and outstanding | 119,506,000 | |||||||||||||||||||||||||
loans receivable | 1,040,683,000 | 953,859,000 | 767,682,000 | 732,426,000 | 695,929,000 | 631,678,000 | ||||||||||||||||||||
net loans receivable | 1,031,463,000 | 945,508,000 | 761,304,000 | 726,626,000 | 690,465,000 | 626,538,000 | ||||||||||||||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 249 and 276 in 2016 and 2015, respectively | 12,751,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 4,497,284 and 4,481,347 shares issued and outstanding in 2016 and 2015, respectively | 72,697,000 | |||||||||||||||||||||||||
subordinated debt, net of unamortized discounts and debt issuance costs of 276 and 127 in 2015 and 2014, respectively | 12,724,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 4,481,347 and 4,439,575 shares issued and outstanding, respectively | 72,559,000 | |||||||||||||||||||||||||
subordinated debt | 2,894,000 | 2,873,000 | 2,852,000 | 2,831,000 | 2,809,000 | 2,789,000 | ||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 4,484,513 and 4,439,575 shares issued and outstanding, respectively | 72,032,000 | |||||||||||||||||||||||||
accumulated other comprehensive income | 392,000 | 87,000 | -2,372,000 | |||||||||||||||||||||||
securities available for sale - at fair value | 137,518,000 | 181,409,000 | ||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 4,439,575 and 4,448,326 shares issued and outstanding, respectively | 71,774,000 | 71,705,000 | ||||||||||||||||||||||||
non-interest bearing deposits | 20,359,000 | 19,065,000 | 17,047,000 | 19,386,000 | ||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 4,449,619 and 4,448,326 shares issued and outstanding, respectively | 71,509,000 | 71,378,000 | ||||||||||||||||||||||||
loans receivable - net of allowance for loan losses of 5,388 and 5,426, respectively | 526,861,000 | |||||||||||||||||||||||||
loans held for sale | 28,610,000 | |||||||||||||||||||||||||
loans receivable - net of allowance for loan losses of 5,426 and 5,833 at december 31, 2013 and 2012, respectively | 495,727,000 | |||||||||||||||||||||||||
voting common stock, no par value; 45,000,000 shares authorized; 4,448,326 and 2,815,094 shares issued and outstanding, respectively | 71,378,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-06-30 | 2025-03-31 | 2023-06-30 | 2023-03-31 | 2022-09-30 | 2020-06-30 | 2018-03-31 | 2016-03-31 | 2015-03-31 | 2014-06-30 | 2014-03-31 | 2013-06-30 | 2013-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | |||||||||||||
net income | 193,000 | 943,000 | 3,882,000 | -3,017,000 | 8,436,000 | 3,923,000 | 6,028,000 | 2,432,000 | 2,063,000 | 977,000 | 600,000 | 1,712,000 | 1,488,000 |
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||
depreciation and amortization | 1,912,000 | 1,070,000 | 1,860,000 | 1,058,000 | 2,141,000 | 2,090,000 | 1,425,000 | 575,000 | 456,000 | 458,000 | |||
increase in cash surrender value of bank-owned life insurance | -286,000 | -281,000 | -252,000 | -246,000 | -243,000 | -235,000 | -237,000 | -99,000 | -98,000 | -97,000 | -96,000 | ||
provision for credit losses | 13,608,000 | 11,933,000 | |||||||||||
share-based compensation expense | 242,000 | 1,000 | 115,000 | 372,000 | 433,000 | 494,000 | 579,000 | 173,000 | 282,000 | 127,000 | 125,000 | ||
loans originated for sale | -149,349,000 | -112,404,000 | -78,323,000 | -91,789,000 | -119,785,000 | -344,840,000 | -82,483,000 | -107,984,000 | -134,159,000 | -85,040,000 | -76,952,000 | -275,731,000 | -236,800,000 |
proceeds from sale of loans | 55,783,000 | 141,771,000 | 68,036,000 | 98,433,000 | 130,922,000 | 363,896,000 | 90,841,000 | 116,965,000 | 143,737,000 | 82,141,000 | 89,293,000 | 296,178,000 | 241,449,000 |
gain on loans sold | -1,673,000 | -8,647,000 | -4,875,000 | -4,525,000 | -3,893,000 | -8,983,000 | -2,086,000 | -1,600,000 | -2,314,000 | -1,101,000 | -807,000 | -2,249,000 | -3,011,000 |
gain on sale of other real estate owned | 0 | -19,000 | |||||||||||
gain on derivatives | -168,000 | 536,000 | -300,000 | ||||||||||
gain on bank-owned life insurance | |||||||||||||
loan servicing asset revaluation | 1,153,000 | 1,181,000 | 358,000 | 55,000 | 333,000 | ||||||||
net change in accrued income and other assets | -7,532,000 | -366,000 | -2,541,000 | -2,444,000 | 3,079,000 | -3,162,000 | 941,000 | -1,449,000 | |||||
net change in accrued expenses and other liabilities | -4,293,000 | -2,141,000 | -539,000 | -2,086,000 | 89,000 | -916,000 | -924,000 | -1,319,000 | |||||
net cash from operating activities | -90,172,000 | 32,825,000 | -10,742,000 | 5,898,000 | 21,775,000 | -29,132,000 | 14,920,000 | 7,986,000 | 9,948,000 | -1,896,000 | 13,574,000 | 9,569,000 | 16,394,000 |
investing activities | |||||||||||||
net loan activity, excluding purchases | -141,791,000 | -58,029,000 | -12,379,000 | -25,111,000 | -76,218,000 | 50,084,000 | -68,991,000 | ||||||
proceeds from sale of other real estate owned | 0 | 291,000 | 0 | 332,000 | |||||||||
maturities and calls of securities available-for-sale | 39,848,000 | 25,528,000 | 15,998,000 | 9,448,000 | 17,401,000 | 62,406,000 | 12,422,000 | ||||||
purchase of securities available-for-sale | 0 | -115,680,000 | -13,452,000 | -1,411,000 | -2,000,000 | -102,535,000 | -14,458,000 | -97,928,000 | -30,598,000 | -72,231,000 | |||
maturities and calls of securities held-to-maturity | 4,785,000 | 7,324,000 | 6,203,000 | 5,129,000 | 3,618,000 | ||||||||
purchase of securities held-to-maturity | 0 | -33,629,000 | -22,871,000 | -26,572,000 | -9,464,000 | ||||||||
purchase of premises and equipment | -650,000 | -184,000 | -428,000 | -2,704,000 | -1,734,000 | -10,132,000 | -448,000 | -268,000 | -316,000 | -533,000 | -24,000 | ||
proceeds from bank-owned life insurance | |||||||||||||
loans purchased | 19,112,000 | -36,907,000 | -28,784,000 | -90,029,000 | -97,740,000 | -124,734,000 | -47,516,000 | -8,007,000 | |||||
other investing activities | -1,356,000 | -5,160,000 | -779,000 | -1,315,000 | 0 | ||||||||
net cash from investing activities | -80,052,000 | -216,446,000 | -56,492,000 | -132,565,000 | -169,268,000 | 53,533,000 | -93,617,000 | -179,009,000 | -60,942,000 | -51,173,000 | -53,967,000 | -43,908,000 | -15,477,000 |
financing activities | |||||||||||||
net increase in deposits | 353,164,000 | 12,419,000 | 232,208,000 | 178,743,000 | 134,646,000 | 92,180,000 | 287,124,000 | 62,571,000 | 16,521,000 | 54,557,000 | 14,495,000 | 15,976,000 | |
cash dividends paid | -534,000 | -520,000 | -543,000 | -548,000 | -565,000 | -672,000 | -507,000 | -267,000 | -265,000 | -265,000 | -264,000 | ||
repurchase of common stock | -2,772,000 | -4,002,000 | -4,386,000 | ||||||||||
proceeds from advances from federal home loan bank | 4,500,000 | 100,000,000 | 110,000,000 | 110,000,000 | 235,000,000 | 165,000,000 | 55,000,000 | 40,000,000 | 90,000,000 | ||||
repayment of advances from federal home loan bank | -110,000,000 | -110,000,000 | -110,000,000 | -168,000,000 | -52,000,000 | -80,000,000 | -90,000,000 | ||||||
other | 1,000 | -234,000 | 0 | -106,000 | 0 | 117,000 | -210,000 | -42,000 | -29,000 | -3,000 | -130,000 | ||
net cash from financing activities | 222,131,000 | 111,665,000 | 228,893,000 | 174,087,000 | 160,592,000 | 131,091,000 | 94,463,000 | 246,815,000 | 62,277,000 | 16,253,000 | 44,163,000 | 15,381,000 | 976,000 |
net decrease in cash and cash equivalents | 13,099,000 | ||||||||||||
cash and cash equivalents, beginning of period | 0 | 466,410,000 | 0 | 256,552,000 | 0 | 279,380,000 | 47,981,000 | 25,152,000 | 28,289,000 | 0 | 53,690,000 | 0 | 32,513,000 |
cash and cash equivalents, end of period | 51,907,000 | 394,454,000 | 161,659,000 | 303,972,000 | 13,099,000 | 434,872,000 | 63,747,000 | 100,944,000 | 39,572,000 | -36,816,000 | 57,460,000 | -18,958,000 | 34,406,000 |
supplemental disclosures | |||||||||||||
cash paid during the period for interest | 52,927,000 | 52,583,000 | 39,231,000 | 32,782,000 | 15,224,000 | 33,251,000 | 10,465,000 | 3,561,000 | 2,406,000 | 2,226,000 | 2,186,000 | 1,914,000 | 1,965,000 |
cash paid during the period for taxes | 92,000 | 146,000 | 533,000 | 285,000 | 1,000 | -1,609,000 | 1,700,000 | 1,521,000 | 673,000 | 50,000 | |||
loans transferred to other real estate owned | 212,000 | 1,518,000 | 0 | 106,000 | 227,000 | ||||||||
cash dividends declared, paid in subsequent period | 1,000 | 522,000 | -11,000 | 537,000 | -7,000 | 84,000 | 504,000 | ||||||
loss on derivatives | -216,000 | 519,000 | -142,000 | -395,000 | 65,000 | 104,000 | |||||||
net increase in cash and cash equivalents | -71,956,000 | 161,659,000 | 47,420,000 | 155,492,000 | 15,766,000 | 75,792,000 | 11,283,000 | 3,770,000 | -18,958,000 | 1,893,000 | |||
securities purchased during the period, settled in subsequent period | -5,712,000 | 8,344,000 | |||||||||||
provision for credit losses 1 | 1,698,000 | 9,415,000 | |||||||||||
decrease in fair value of loans held-for-sale | 7,000 | 136,000 | 450,000 | 706,000 | 233,000 | ||||||||
redemption of federal home loan bank of indianapolis stock | 0 | ||||||||||||
net proceeds from sale of portfolio loans | 0 | 179,306,000 | 25,717,000 | ||||||||||
loans transferred to held-for-sale from portfolio | 0 | ||||||||||||
transfer of available-for-sale mortgage-backed securities to held-to-maturity mortgage-backed securities at fair value | 0 | ||||||||||||
provision for loan losses | 892,000 | 3,102,000 | 850,000 | 946,000 | 442,000 | -73,000 | 147,000 | 24,000 | 134,000 | ||||
settlement of derivatives | |||||||||||||
purchase of federal home loan bank of indianapolis stock | -675,000 | ||||||||||||
net proceeds from sale of premises and equipment | |||||||||||||
repayment of subordinated debt | |||||||||||||
net proceeds from issuance of subordinated debt | |||||||||||||
net decrease in deposits | |||||||||||||
write-down of other real estate owned | |||||||||||||
loss from sale of available-for-sale securities | -125,000 | -359,000 | -19,000 | 185,000 | |||||||||
proceeds from sale of loans originated for sale | |||||||||||||
gain on sale of loans | |||||||||||||
gain on sale of premises and equipment | |||||||||||||
net change in servicing asset | |||||||||||||
deferred income tax | |||||||||||||
net change in other assets | |||||||||||||
net change in other liabilities | |||||||||||||
net loan activity, excluding sales and purchases | -78,894,000 | ||||||||||||
proceeds from sales of other real estate owned | |||||||||||||
net proceeds from sales of portfolio loans | |||||||||||||
maturities of securities available-for-sale | 6,088,000 | 5,092,000 | 3,196,000 | ||||||||||
proceeds from sales of securities available-for-sale | |||||||||||||
net change in deposits | |||||||||||||
cash and cash equivalents, beginning of year | |||||||||||||
cash and cash equivalents, end of year | |||||||||||||
supplemental disclosures of cash flows information | |||||||||||||
initial recognition of right-of-use asset | |||||||||||||
initial recognition of operating lease liabilities | |||||||||||||
cash paid during the year for interest | |||||||||||||
cash paid during the year for taxes | |||||||||||||
cash dividends declared, not paid | 269,000 | 268,000 | 1,000 | 264,000 | |||||||||
securities purchases settled in subsequent period | |||||||||||||
transfer of available-for-sale municipal securities to held-to-maturity municipal securities | |||||||||||||
loss on sale of available-for-sale securities | |||||||||||||
amortization of operating lease right-of-use assets | |||||||||||||
proceeds from sale of securities available-for-sale | 46,373,000 | ||||||||||||
loss on other-than-temporary impairment of securities | |||||||||||||
gain on sale of available-for-sale securities | |||||||||||||
short-term borrowings | |||||||||||||
gain on sale of oreo | -105,000 | ||||||||||||
transfer of other equity investments from securities available-for-sale to other assets in accordance with adoption of asu 2016-01 | 2,932,000 | ||||||||||||
net change in interest-bearing deposits | |||||||||||||
bank owned life insurance purchased | |||||||||||||
net proceeds from common stock issuance | |||||||||||||
capital committed to small business investment company fund, not contributed | |||||||||||||
gain from sale of available-for-sale securities | |||||||||||||
proceeds from liquidation of other real estate owned | |||||||||||||
increase in fair value of loans held-for-sale | -354,000 | -177,000 | |||||||||||
net proceeds from issuance of subordinated debt and related warrants | |||||||||||||
net change in: | |||||||||||||
accrued income and other assets | 128,000 | ||||||||||||
accrued expenses and other liabilities | -17,000 | 220,000 | 438,000 | -11,143,000 | 12,171,000 | ||||||||
net change in loans | -35,120,000 | -42,315,000 | -31,281,000 | -8,715,000 | -422,000 | ||||||||
loss from real estate owned | |||||||||||||
stock compensation expense | 31,000 | 29,000 | |||||||||||
loss from sale of available for sale securities | |||||||||||||
net change in interest bearing deposits | |||||||||||||
maturities of securities available for sale | 8,407,000 | 13,657,000 | |||||||||||
proceeds from sale of securities available for sale | -794,000 | 41,834,000 | |||||||||||
purchase of securities available for sale | -39,295,000 | -64,231,000 | |||||||||||
proceeds from issuance of subordinated debt and related warrants | |||||||||||||
repayment of fhlb advances | -30,000,000 | -10,000,000 | -2,000,000 | -15,000,000 | |||||||||
proceeds from fhlb advances | |||||||||||||
depreciation & amortization | |||||||||||||
unrealized loss on loans held-for-sale | |||||||||||||
accrued interest receivable | -32,000 | 242,000 | -134,000 | 59,000 | |||||||||
loans transferred to real estate owned | |||||||||||||
unrealized gain on loans held-for-sale | -197,000 | ||||||||||||
other assets | 578,000 | -1,189,000 | -132,000 | ||||||||||
adjustments to reconcile net income to net cash from operating activities | |||||||||||||
depreciation | 177,000 | 91,000 | |||||||||||
amortization | 203,000 | 794,000 | |||||||||||
increase in cash surrender value of life insurance | -99,000 | -97,000 | |||||||||||
deferred income taxes | |||||||||||||
loss on other-than-temporary impairment of security | 15,000 | 34,000 | |||||||||||
fair value adjustment on loans held-for-sale | |||||||||||||
changes in assets and liabilities | |||||||||||||
life insurance purchased | |||||||||||||
proceeds from liquidation of real estate owned | |||||||||||||
cash dividends | |||||||||||||
dividends declared, not paid | |||||||||||||
net change in interest bearing time deposits | -1,500,000 | ||||||||||||
purchase of premise and equipment | -4,815,000 | ||||||||||||
amortization and accretion on securities | |||||||||||||
amortization on fhlb prepayment penalties | |||||||||||||
loss from disposal of fixed assets | |||||||||||||
loss from impairment of other asset | |||||||||||||
director fees and officer compensation | |||||||||||||
prepaid expenses and other assets | |||||||||||||
net decrease in loans | |||||||||||||
boli purchased | |||||||||||||
proceeds from redemption of fhlb stock | |||||||||||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | -90,172,000 | 32,825,000 | -10,742,000 | 5,898,000 | 21,775,000 | -29,132,000 | 14,920,000 | 7,986,000 | 9,948,000 | -1,896,000 | 13,574,000 | 9,569,000 | 16,394,000 |