2016 Q4 Form 10-Q Financial Statement

#000156459016028376 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $28.37M $26.00M $17.11M
YoY Change 47.65% 52.0% 38.15%
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 $520.0K $490.0K $350.0K
YoY Change 48.57% 40.0% 16.67%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $3.363M $2.841M $1.647M
YoY Change 89.15% 72.5% 33.14%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $10.60M $15.48M $4.803M
YoY Change 27.01% 222.19% 0.29%
Income Tax $4.082M $5.800M $2.041M
% Of Pretax Income 38.51% 37.48% 42.49%
Net Earnings $6.517M $9.675M $2.762M
YoY Change 29.1% 250.29% 3.87%
Net Earnings / Revenue 22.97% 37.21% 16.14%
Basic Earnings Per Share $0.20 $0.30 $0.11
Diluted Earnings Per Share $0.19 $0.29 $0.11
COMMON SHARES
Basic Shares Outstanding 16.33M 16.26M 12.62M
Diluted Shares Outstanding 16.79M 13.07M

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $597.9M $206.3M
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 $6.730M $5.000M $2.000M
YoY Change 153.68% 150.0% -18.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.00M $10.00M $12.00M
YoY Change 13.33% -16.67% 9.09%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.975B $3.594B $2.249B
YoY Change 53.34% 59.82% 75.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.00M $17.00M $10.00M
YoY Change -6.67% 70.0% -9.09%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.00M $17.00M $10.00M
YoY Change -6.67% 70.0% -9.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $951.0M $660.0M
YoY Change 44.09% 3042.86%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $951.0M $660.0M
YoY Change 44.09% 3042.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.00M $17.00M $10.00M
Total Long-Term Liabilities $0.00 $951.0M $660.0M
Total Liabilities $3.691B $3.306B $1.991B
YoY Change 58.22% 66.01% 67.26%
SHAREHOLDERS EQUITY
Retained Earnings $57.07M $28.71M
YoY Change 69.02% 65.23%
Common Stock $232.4M $226.8M
YoY Change 2.27% 2835050.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $284.3M $287.0M $257.3M
YoY Change
Total Liabilities & Shareholders Equity $3.975B $3.594B $2.249B
YoY Change 53.34% 59.82% 75.07%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $6.517M $9.675M $2.762M
YoY Change 29.1% 250.29% 3.87%
Depreciation, Depletion And Amortization $520.0K $490.0K $350.0K
YoY Change 48.57% 40.0% 16.67%
Cash From Operating Activities $6.050M $8.290M $4.340M
YoY Change -7.91% 91.01% -13.03%
INVESTING ACTIVITIES
Capital Expenditures -$1.910M -$1.050M -$390.0K
YoY Change 213.11% 169.23% 387.5%
Acquisitions
YoY Change
Other Investing Activities -$290.7M -$42.17M -$344.2M
YoY Change -12.82% -87.75% 213.28%
Cash From Investing Activities -$292.6M -$43.23M -$344.6M
YoY Change -12.4% -87.46% 213.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $120.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 387.7M 87.24M 373.8M
YoY Change 15.09% -76.66% 226.7%
NET CHANGE
Cash From Operating Activities 6.050M 8.290M 4.340M
Cash From Investing Activities -292.6M -43.23M -344.6M
Cash From Financing Activities 387.7M 87.24M 373.8M
Net Change In Cash 101.1M 52.30M 33.50M
YoY Change 975.85% 56.12% 254.87%
FREE CASH FLOW
Cash From Operating Activities $6.050M $8.290M $4.340M
Capital Expenditures -$1.910M -$1.050M -$390.0K
Free Cash Flow $7.960M $9.340M $4.730M
YoY Change 10.86% 97.46% -6.71%

Facts In Submission

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1765469000
CY2016Q3 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
2458000
CY2015Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
14000
CY2016Q3 us-gaap Certain Loans Acquired In Transfer Accounted For As Available For Sale Debt Securities Carrying Amount Net
CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesCarryingAmountNet
2100000
CY2015Q4 us-gaap Certain Loans Acquired In Transfer Accounted For As Available For Sale Debt Securities Carrying Amount Net
CertainLoansAcquiredInTransferAccountedForAsAvailableForSaleDebtSecuritiesCarryingAmountNet
2800000
CY2015Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
8950000
CY2016Q3 ffwm Un Accreted Discount On Purchased Credit Impaired Loans
UnAccretedDiscountOnPurchasedCreditImpairedLoans
1625000
CY2015Q4 ffwm Un Accreted Discount On Purchased Credit Impaired Loans
UnAccretedDiscountOnPurchasedCreditImpairedLoans
2291000
CY2015Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
582000
CY2014Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
130000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
155000
CY2015 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
529000
CY2015 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications To From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToFromNonaccretableDifference
176000
CY2015 ffwm Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Acquisition
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAcquisition
805000
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Disposals Of Loans
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans
108000
CY2016Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
319000
CY2016Q3 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
3916000
CY2016Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
9406000
CY2016Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
18853000
CY2015Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
18939000
CY2015Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1746530000
CY2016Q3 ffwm Percentage Of Loans Due30 To59 Days
PercentageOfLoansDue30To59Days
0.0024
CY2015Q4 ffwm Percentage Of Loans Due30 To59 Days
PercentageOfLoansDue30To59Days
0.0026
CY2015Q4 ffwm Percentage Of Loans Due60 To89 Days
PercentageOfLoansDue60To89Days
0.0009
CY2016Q3 ffwm Percentage Of Loans Due90 Days Or More
PercentageOfLoansDue90DaysOrMore
0.0017
CY2015Q4 ffwm Percentage Of Loans Due90 Days Or More
PercentageOfLoansDue90DaysOrMore
0.0048
CY2016Q3 ffwm Percentage Of Loans Nonaccrual
PercentageOfLoansNonaccrual
0.0041
CY2015Q4 ffwm Percentage Of Loans Nonaccrual
PercentageOfLoansNonaccrual
0.0023
CY2016Q3 ffwm Percentage Of Loans
PercentageOfLoans
0.0082
CY2015Q4 ffwm Percentage Of Loans
PercentageOfLoans
0.0107
CY2016Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
12200000
CY2016Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
169000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
50000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
169000
CY2014Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
10150000
CY2015 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
2673000
CY2015 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
2223000
CY2016Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
13600000
CY2016Q3 ffwm Loans And Leases Receivable Allowance Impaired
LoansAndLeasesReceivableAllowanceImpaired
13600000
CY2016Q3 ffwm Allowance For Loan Losses In Unaccreted Credit Component Other Loans
AllowanceForLoanLossesInUnaccretedCreditComponentOtherLoans
481000
CY2016Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
7698000
CY2016Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
2293803000
CY2016Q3 ffwm Loans And Lease Receivable In Unaccreted Credit Component Other Loan
LoansAndLeaseReceivableInUnaccretedCreditComponentOtherLoan
64524000
CY2015Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
30000
CY2015Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
10570000
CY2015Q4 ffwm Loans And Leases Receivable Allowance Impaired
LoansAndLeasesReceivableAllowanceImpaired
10600000
CY2015Q4 ffwm Allowance For Loan Losses In Unaccreted Credit Component Other Loans
AllowanceForLoanLossesInUnaccretedCreditComponentOtherLoans
732000
CY2015Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12038000
CY2015Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1746772000
CY2015Q4 ffwm Loans And Lease Receivable In Unaccreted Credit Component Other Loan
LoansAndLeaseReceivableInUnaccretedCreditComponentOtherLoan
85293000
ffwm Percentage Of Allowance On Purchase Impaired Loans
PercentageOfAllowanceOnPurchaseImpairedLoans
0.0075
CY2015 ffwm Percentage Of Allowance On Purchase Impaired Loans
PercentageOfAllowanceOnPurchaseImpairedLoans
0.0086
CY2016Q3 ffwm Additional Allowance On Credit Impaired Loans
AdditionalAllowanceOnCreditImpairedLoans
400000
CY2015Q4 ffwm Additional Allowance On Credit Impaired Loans
AdditionalAllowanceOnCreditImpairedLoans
300000
CY2016Q3 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
7698000
CY2015Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
13809000
CY2016Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
7698000
CY2015Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
11688000
CY2015Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
590000
CY2015Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
350000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
3391000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
24000
CY2015 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
14469000
CY2015 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
677000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0
CY2015 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0
CY2016Q3 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
775466000
CY2015Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
299794000
CY2016Q3 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
175782000
CY2015Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
260167000
CY2016Q3 us-gaap Deposits Money Market Deposits And Negotiable Order Of Withdrawal Now
DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW
836494000
CY2015Q4 us-gaap Deposits Money Market Deposits And Negotiable Order Of Withdrawal Now
DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW
492015000
CY2016Q3 ffwm Certificates Of Deposit Liabilities
CertificatesOfDepositLiabilities
550995000
CY2015Q4 ffwm Certificates Of Deposit Liabilities
CertificatesOfDepositLiabilities
470200000
CY2016Q3 ffwm Interest Bearing Demand Deposits Weighted Average Rate
InterestBearingDemandDepositsWeightedAverageRate
0.00436
CY2015Q4 ffwm Interest Bearing Demand Deposits Weighted Average Rate
InterestBearingDemandDepositsWeightedAverageRate
0.00359
CY2016Q3 ffwm Weighted Average Rate Of Money Market And Savings Deposits
WeightedAverageRateOfMoneyMarketAndSavingsDeposits
0.00697
CY2015Q4 ffwm Weighted Average Rate Of Money Market And Savings Deposits
WeightedAverageRateOfMoneyMarketAndSavingsDeposits
0.00531
CY2016Q3 ffwm Weighted Average Rate Of Certificates Of Deposits
WeightedAverageRateOfCertificatesOfDeposits
0.00587
CY2015Q4 ffwm Weighted Average Rate Of Certificates Of Deposits
WeightedAverageRateOfCertificatesOfDeposits
0.00554
CY2016Q3 ffwm Weighted Average Rate Of Deposits
WeightedAverageRateOfDeposits
0.00420
CY2015Q4 ffwm Weighted Average Rate Of Deposits
WeightedAverageRateOfDeposits
0.00404
CY2016Q3 ffwm Time Deposits250000 Or More Maturities With In One Year
TimeDeposits250000OrMoreMaturitiesWithInOneYear
174300000
CY2015Q4 ffwm Time Deposits250000 Or More Maturities With In One Year
TimeDeposits250000OrMoreMaturitiesWithInOneYear
137800000
CY2016Q3 ffwm Time Deposits250000 Or More Maturities After One Year
TimeDeposits250000OrMoreMaturitiesAfterOneYear
5200000
CY2015Q4 ffwm Time Deposits250000 Or More Maturities After One Year
TimeDeposits250000OrMoreMaturitiesAfterOneYear
11400000
CY2016Q3 ffwm Time Deposits250000 Or More
TimeDeposits250000OrMore
179500000
CY2015Q4 ffwm Time Deposits250000 Or More
TimeDeposits250000OrMore
149200000
CY2016Q3 ffwm Time Deposits Less Than250000 Maturities With In One Year
TimeDepositsLessThan250000MaturitiesWithInOneYear
360400000
CY2015Q4 ffwm Time Deposits Less Than250000 Maturities With In One Year
TimeDepositsLessThan250000MaturitiesWithInOneYear
292500000
CY2016Q3 ffwm Time Deposits Less Than250000 Maturities After One Year
TimeDepositsLessThan250000MaturitiesAfterOneYear
11000000
CY2015Q4 ffwm Time Deposits Less Than250000 Maturities After One Year
TimeDepositsLessThan250000MaturitiesAfterOneYear
28500000
CY2016Q3 ffwm Time Deposits Less Than250000
TimeDepositsLessThan250000
371400000
CY2015Q4 ffwm Time Deposits Less Than250000
TimeDepositsLessThan250000
321000000
CY2016Q3 us-gaap Federal Home Loan Bank Advances
FederalHomeLoanBankAdvances
951000000
CY2015Q4 us-gaap Federal Home Loan Bank Advances
FederalHomeLoanBankAdvances
796000000
CY2016Q3 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Interest Rate
FederalHomeLoanBankAdvancesBranchOfFHLBBankInterestRate
0.0038
CY2015Q4 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Interest Rate
FederalHomeLoanBankAdvancesBranchOfFHLBBankInterestRate
0.0027
us-gaap Average Collected Cash Balances With Commercial Banks Federal Home Loan Bank
AverageCollectedCashBalancesWithCommercialBanksFederalHomeLoanBank
499000000
CY2015 us-gaap Average Collected Cash Balances With Commercial Banks Federal Home Loan Bank
AverageCollectedCashBalancesWithCommercialBanksFederalHomeLoanBank
353000000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9675000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2762000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9675000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2762000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
796
CY2015Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
796
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
530143
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
450215
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16786000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8330000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
16786000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
8330000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
796
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
796
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
549899
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
394593
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2

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