2014 Q2 Form 10-Q Financial Statement

#000114420414047650 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $13.68M $13.09M
YoY Change 4.52% -3.83%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $530.0K $560.0K
YoY Change -5.36% -6.67%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $732.0K $815.0K
YoY Change -10.18% -23.4%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $5.760M $5.130M
YoY Change 12.28% 69.47%
Income Tax $1.523M $1.331M
% Of Pretax Income 26.44% 25.95%
Net Earnings $4.237M $3.799M
YoY Change 11.53% 47.65%
Net Earnings / Revenue 30.97% 29.02%
Basic Earnings Per Share $0.30 $0.27
Diluted Earnings Per Share $0.31 $0.27
COMMON SHARES
Basic Shares Outstanding 14.09M shares 14.13M shares
Diluted Shares Outstanding 14.21M shares 14.23M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $48.82M $66.98M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $20.79M $20.93M
YoY Change -0.66% -5.24%
Goodwill $5.544M $5.544M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.498B $1.378B
YoY Change 8.68% -1.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $7.750M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.100M $2.000M
YoY Change 205.0% -31.03%
LONG-TERM LIABILITIES
Long-Term Debt $30.90M $30.90M
YoY Change 0.0% -13.93%
Other Long-Term Liabilities $20.20M $15.30M
YoY Change 32.03% 7.75%
Total Long-Term Liabilities $51.10M $46.20M
YoY Change 10.61% -7.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.100M $2.000M
Total Long-Term Liabilities $51.10M $46.20M
Total Liabilities $1.311B $1.203B
YoY Change 8.96% -1.95%
SHAREHOLDERS EQUITY
Retained Earnings $115.6M $107.6M
YoY Change 7.45% 6.41%
Common Stock $65.31M $64.86M
YoY Change 0.7% 0.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $186.9M $175.2M
YoY Change
Total Liabilities & Shareholders Equity $1.498B $1.378B
YoY Change 8.68% -1.52%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $4.237M $3.799M
YoY Change 11.53% 47.65%
Depreciation, Depletion And Amortization $530.0K $560.0K
YoY Change -5.36% -6.67%
Cash From Operating Activities $12.23M $10.41M
YoY Change 17.48% 1.56%
INVESTING ACTIVITIES
Capital Expenditures -$170.0K -$140.0K
YoY Change 21.43% -92.47%
Acquisitions
YoY Change
Other Investing Activities -$65.77M $17.45M
YoY Change -476.91% -122.17%
Cash From Investing Activities -$65.95M $17.32M
YoY Change -480.77% -121.5%
FINANCING ACTIVITIES
Cash Dividend Paid $1.138M $847.4K
YoY Change 34.29% 0.14%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.38M -8.700M
YoY Change -449.2% -118.32%
NET CHANGE
Cash From Operating Activities 12.23M 10.41M
Cash From Investing Activities -65.95M 17.32M
Cash From Financing Activities 30.38M -8.700M
Net Change In Cash -23.34M 19.03M
YoY Change -222.65% -183.43%
FREE CASH FLOW
Cash From Operating Activities $12.23M $10.41M
Capital Expenditures -$170.0K -$140.0K
Free Cash Flow $12.40M $10.55M
YoY Change 17.54% -12.88%

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56387000 USD
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
941000 USD
CY2014Q2 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
689000 USD
CY2013 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
7123000 USD
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
941000 USD
CY2014Q2 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
689000 USD
CY2014Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
34600000 USD
us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
10333000 USD
CY2014Q2 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
10073000 USD
CY2014Q2 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
2890000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
7212000 USD
CY2014Q2 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
7404000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
1358000 USD
CY2014Q2 us-gaap Financing Receivable Recorded Investment Current
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872660000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Current
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782996000 USD
CY2014Q2 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue
10087000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue
11676000 USD
CY2014Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
29236000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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37414000 USD
CY2014Q2 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
20381000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
20246000 USD
CY2014Q2 us-gaap Foreclosed Assets
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4498000 USD
CY2013Q4 us-gaap Foreclosed Assets
ForeclosedAssets
8185000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
15000 USD
us-gaap Gain Loss On Investments
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287000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
6000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
287000 USD
CY2014Q2 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
183000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
6000 USD
CY2013Q2 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
3000 USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
68000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
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469000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
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-269000 USD
CY2014Q2 us-gaap Goodwill
Goodwill
5544000 USD
CY2013Q4 us-gaap Goodwill
Goodwill
5544000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
52190000 USD
CY2013 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
58524000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
562000 USD
CY2013 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
1220000 USD
CY2014Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
46137000 USD
CY2013Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
56387000 USD
CY2014Q2 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
5579000 USD
CY2013Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
5349000 USD
CY2014Q2 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
48602000 USD
CY2013Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
59926000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
15260000 USD
CY2013 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
27264000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
58000 USD
CY2013 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
173000 USD
CY2014Q2 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
11387000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
25722000 USD
CY2014Q2 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
13562000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
29026000 USD
us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
36930000 USD
CY2013 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
31260000 USD
us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
504000 USD
CY2013 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
1047000 USD
CY2014Q2 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
34750000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
30665000 USD
CY2014Q2 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
35040000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
30900000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10804000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5760000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
7667000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5130000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
160000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2768000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1523000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1535000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1331000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
71948000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-19019000 USD
us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
USD
us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
-544000 USD
us-gaap Increase Decrease In Loans From Other Federal Home Loan Banks
IncreaseDecreaseInLoansFromOtherFederalHomeLoanBanks
-190000 USD
us-gaap Increase Decrease In Loans From Other Federal Home Loan Banks
IncreaseDecreaseInLoansFromOtherFederalHomeLoanBanks
438000 USD
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
USD
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
2533000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2071000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3641000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2724000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-633000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
26634000 USD
CY2014Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
13682000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
25806000 USD
CY2013Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
13090000 USD
us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
21408000 USD
CY2014Q2 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
11057000 USD
us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
22275000 USD
CY2013Q2 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
11368000 USD
CY2014Q2 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
894370000 USD
CY2013Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
808182000 USD
CY2014Q2 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
4028000 USD
CY2013Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
26664000 USD
us-gaap Interest Expense
InterestExpense
1469000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
732000 USD
us-gaap Interest Expense
InterestExpense
1689000 USD
CY2013Q2 us-gaap Interest Expense
InterestExpense
815000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
1111000 USD
CY2014Q2 us-gaap Interest Expense Deposits
InterestExpenseDeposits
553000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
1288000 USD
CY2013Q2 us-gaap Interest Expense Deposits
InterestExpenseDeposits
628000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
USD
CY2014Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
33000 USD
CY2013Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
9000 USD
CY2014Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
4000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
12000 USD
CY2013Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
8000 USD
us-gaap Interest Expense Trust Preferred Securities
InterestExpenseTrustPreferredSecurities
349000 USD
CY2014Q2 us-gaap Interest Expense Trust Preferred Securities
InterestExpenseTrustPreferredSecurities
175000 USD
us-gaap Interest Expense Trust Preferred Securities
InterestExpenseTrustPreferredSecurities
356000 USD
CY2013Q2 us-gaap Interest Expense Trust Preferred Securities
InterestExpenseTrustPreferredSecurities
179000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
24815000 USD
CY2014Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
12750000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
22067000 USD
CY2013Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
11825000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
25165000 USD
CY2014Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
12950000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
24117000 USD
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
12275000 USD
us-gaap Interest Income Federal Funds Sold And Securities Purchased Under Agreements To Resell
InterestIncomeFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell
51000 USD
CY2014Q2 us-gaap Interest Income Federal Funds Sold And Securities Purchased Under Agreements To Resell
InterestIncomeFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell
16000 USD
us-gaap Interest Income Federal Funds Sold And Securities Purchased Under Agreements To Resell
InterestIncomeFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell
44000 USD
CY2013Q2 us-gaap Interest Income Federal Funds Sold And Securities Purchased Under Agreements To Resell
InterestIncomeFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResell
16000 USD
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3701000 USD
CY2014Q2 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
1876000 USD
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
2196000 USD
CY2013Q2 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
1034000 USD
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
1474000 USD
CY2014Q2 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
733000 USD
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
1291000 USD
CY2013Q2 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
672000 USD
us-gaap Interest Paid
InterestPaid
1502000 USD
us-gaap Interest Paid
InterestPaid
1794000 USD
CY2014Q2 us-gaap Junior Subordinated Notes
JuniorSubordinatedNotes
30928000 USD
CY2013Q4 us-gaap Junior Subordinated Notes
JuniorSubordinatedNotes
30928000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
11313000 USD
CY2014Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
5328000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
11323000 USD
CY2013Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
5403000 USD
CY2014Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
88000000 USD
CY2014Q2 us-gaap Liabilities
Liabilities
1311117000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
1228575000 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1498039000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1410249000 USD
CY2014Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
11634000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
11677000 USD
CY2014Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
893041000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
803242000 USD
CY2014Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
882800000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
793087000 USD
CY2014Q2 us-gaap Loans Receivable Held For Sale Net
LoansReceivableHeldForSaleNet
USD
CY2013Q4 us-gaap Loans Receivable Held For Sale Net
LoansReceivableHeldForSaleNet
105000 USD
CY2014Q2 us-gaap Long Term Debt
LongTermDebt
USD
CY2013Q4 us-gaap Long Term Debt
LongTermDebt
USD
us-gaap Nature Of Operations
NatureOfOperations
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong><em><u>Note 1 - The Business of Sierra Bancorp</u></em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Sierra Bancorp (the "Company") is a California corporation headquartered in Porterville, California, and is a registered bank holding company under federal banking laws. The Company was formed to serve as the holding company for Bank of the Sierra (the "Bank"), and has been the Bank&#39;s sole shareholder since August 2001. The Company exists primarily for the purpose of holding the stock of the Bank and of such other subsidiaries it may acquire or establish. At the present time, the Company&#39;s only other subsidiaries are Sierra Statutory Trust II and Sierra Capital Trust III, which were formed in March 2004 and June 2006, respectively, solely to facilitate the issuance of capital trust pass-through securities (TRUPS). Pursuant to the Financial Accounting Standards Board&#39;s (FASB&#39;s) standard on the consolidation of variable interest entities, these trusts are not reflected on a consolidated basis in the Company&#39;s financial statements. References herein to the "Company" include Sierra Bancorp and its consolidated subsidiary, the Bank, unless the context indicates otherwise.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The Bank is a California state-chartered bank headquartered in Porterville, California, that offers a full range of retail and commercial banking services primarily to communities in the central and southern regions of the San Joaquin Valley. Our branch footprint stretches from Fresno on the north to Bakersfield on the south, and on the southern end extends east through the Tehachapi plateau and into the northwestern tip of the Mojave Desert. The Bank was incorporated in September 1977 and opened for business in January 1978, and in the ensuing years has grown to be the largest independent bank headquartered in the South San Joaquin Valley. Our growth has primarily been organic, but includes the acquisition of Sierra National Bank in 2000. We currently operate 25 full service branch offices throughout our geographic footprint, as well as an internet branch which provides the ability to open deposit accounts online. In addition to our full-service branches the Bank has a real estate industries group, an agricultural credit division, an SBA lending unit, and offsite ATMs at six different non-branch locations. The Bank&#39;s deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to maximum insurable amounts.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73933000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-61245000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-119932000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
50129000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16817000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16280000 USD
us-gaap Net Income Loss
NetIncomeLoss
8036000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
4237000 USD
us-gaap Net Income Loss
NetIncomeLoss
6132000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
3799000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
184000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
2622000 USD
CY2014Q2 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
351757000 USD
CY2013Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
365997000 USD
us-gaap Noninterest Expense
NoninterestExpense
21736000 USD
CY2014Q2 us-gaap Noninterest Expense
NoninterestExpense
11008000 USD
us-gaap Noninterest Expense
NoninterestExpense
22538000 USD
CY2013Q2 us-gaap Noninterest Expense
NoninterestExpense
10717000 USD
us-gaap Noninterest Income
NoninterestIncome
7725000 USD
CY2014Q2 us-gaap Noninterest Income
NoninterestIncome
4018000 USD
us-gaap Noninterest Income
NoninterestIncome
8138000 USD
CY2013Q2 us-gaap Noninterest Income
NoninterestIncome
4022000 USD
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
3513000 USD
CY2014Q2 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
1796000 USD
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
3844000 USD
CY2013Q2 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
1807000 USD
us-gaap Occupancy Net
OccupancyNet
3037000 USD
CY2014Q2 us-gaap Occupancy Net
OccupancyNet
1532000 USD
us-gaap Occupancy Net
OccupancyNet
3147000 USD
CY2013Q2 us-gaap Occupancy Net
OccupancyNet
1596000 USD
CY2014Q2 us-gaap Other Assets
OtherAssets
75835000 USD
CY2013Q4 us-gaap Other Assets
OtherAssets
79885000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
5206000 USD
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OtherComprehensiveIncomeLossBeforeTax
3744000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2013Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3064000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2204000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3677000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3623000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
287000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
183000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
6000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
118000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
75000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
2000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2142000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1540000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-2571000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-2534000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
5493000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
3927000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-6242000 USD
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-6157000 USD
CY2014Q2 us-gaap Other Liabilities
OtherLiabilities
20218000 USD
CY2013Q4 us-gaap Other Liabilities
OtherLiabilities
17494000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
7386000 USD
CY2014Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
4148000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
8068000 USD
CY2013Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
3718000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
90117000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-63776000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4281000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
USD
us-gaap Payments Of Dividends
PaymentsOfDividends
2267656 USD
CY2014Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
1137910 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
1694024 USD
CY2013Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
847358 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
78426000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
77966000 USD
CY2014Q3 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
12300000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1439000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
226000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
450000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
439000 USD
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
120000 USD
us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
9210000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
1221000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
8360000 USD
CY2014Q2 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
4995000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
264000 USD
CY2013Q2 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
4116000 USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
10546000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
108000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
2288000 USD
us-gaap Proceeds From Sale Of Other Assets1
ProceedsFromSaleOfOtherAssets1
4116000 USD
us-gaap Proceeds From Sale Of Other Assets1
ProceedsFromSaleOfOtherAssets1
10156000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
664000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
471000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20794000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20393000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
350000 USD
CY2014Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
200000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
2050000 USD
CY2013Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
450000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-350000 USD
CY2013Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-200000 USD
CY2013 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-4350000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
115580000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
112817000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
33000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
150000 USD
CY2014Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
7750000 USD
CY2013Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
186922000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
175171000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
181674000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
134256 shares
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
125593 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
91045 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
99189 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14291359 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14212532 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14211910 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14227335 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14157103 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14086939 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14120865 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14128146 shares

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