2017 Q1 Form 10-Q Financial Statement

#000127790217000043 Filed on May 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $13.07M $13.38M
YoY Change -2.35% 38.85%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $1.214M $1.124M
YoY Change 8.01%
% of Gross Profit
Depreciation & Amortization $617.0K $800.0K
YoY Change -22.88% 60.0%
% of Gross Profit
Operating Expenses $19.60M $19.30M
YoY Change 1.52%
Operating Profit
YoY Change
Interest Expense $2.762M $2.687M
YoY Change 2.79%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.295M $2.612M
YoY Change -12.14% -21.61%
Income Tax $721.0K $846.0K
% Of Pretax Income 31.42% 32.39%
Net Earnings $1.574M $1.796M
YoY Change -12.36% -14.6%
Net Earnings / Revenue 12.04% 13.42%
Basic Earnings Per Share $0.14 $0.20
Diluted Earnings Per Share $0.14 $0.20
COMMON SHARES
Basic Shares Outstanding 9.997M shares 8.062M shares
Diluted Shares Outstanding 10.01M shares 9.901M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $18.28M $28.73M
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 $26.08M $26.40M
YoY Change -1.22% 3.94%
Goodwill $18.48M $18.48M
YoY Change 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 $1.434B $1.433B
YoY Change 0.09% 19.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.90M $14.70M
YoY Change -12.24% 20.49%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $21.70M $29.60M
YoY Change -26.69% 13.41%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.90M $14.70M
YoY Change -12.24% 20.49%
LONG-TERM LIABILITIES
Long-Term Debt $33.50M $33.50M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $33.50M $33.50M
YoY Change 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.90M $14.70M
Total Long-Term Liabilities $33.50M $33.50M
Total Liabilities $1.295B $1.316B
YoY Change -1.55% 21.43%
SHAREHOLDERS EQUITY
Retained Earnings $32.39M
YoY Change
Common Stock $103.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.084M
YoY Change
Treasury Stock Shares 51.08K shares
Shareholders Equity $138.7M $117.1M
YoY Change
Total Liabilities & Shareholders Equity $1.434B $1.433B
YoY Change 0.09% 19.88%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $1.574M $1.796M
YoY Change -12.36% -14.6%
Depreciation, Depletion And Amortization $617.0K $800.0K
YoY Change -22.88% 60.0%
Cash From Operating Activities $19.70M $7.800M
YoY Change 152.56% -115.42%
INVESTING ACTIVITIES
Capital Expenditures $1.588M $652.0K
YoY Change 143.56% -263.0%
Acquisitions
YoY Change
Other Investing Activities -$34.00M -$51.60M
YoY Change -34.11% 56.84%
Cash From Investing Activities -$35.60M -$52.30M
YoY Change -31.93% 57.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.80M 44.10M
YoY Change -61.9% -45.08%
NET CHANGE
Cash From Operating Activities 19.70M 7.800M
Cash From Investing Activities -35.60M -52.30M
Cash From Financing Activities 16.80M 44.10M
Net Change In Cash 900.0K -400.0K
YoY Change -325.0% -88.57%
FREE CASH FLOW
Cash From Operating Activities $19.70M $7.800M
Capital Expenditures $1.588M $652.0K
Free Cash Flow $18.11M $7.148M
YoY Change 153.39% -114.24%

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CY2017Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
386000 USD
CY2016Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
7000 USD
CY2016Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
191000 USD
CY2017Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
290000 USD
CY2016Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1063180000 USD
CY2017Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1064354000 USD
CY2016Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12426000 USD
CY2017Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12428000 USD
CY2016Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
8800000 USD
CY2017Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
8700000 USD
CY2017Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0 loan
CY2016Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 USD
CY2017Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1045208000 USD
CY2017Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1069271000 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
6229000 USD
CY2017Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
6519000 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
7657000 USD
CY2017Q1 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
7511000 USD
CY2016Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
401000 USD
CY2017Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-1947000 USD
CY2016Q1 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
149000 USD
CY2017Q1 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
9000 USD
CY2016Q1 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
0 USD
CY2017Q1 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
-366000 USD
CY2016Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
149000 USD
CY2017Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
9000 USD
CY2015Q4 us-gaap Goodwill
Goodwill
18480000 USD
CY2016Q1 us-gaap Goodwill
Goodwill
18480000 USD
CY2017Q1 us-gaap Goodwill
Goodwill
18480000 USD
CY2016Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
0 USD
CY2017Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
0 USD
CY2016Q1 us-gaap Held To Maturity Securities Transferred Security At Carrying Value
HeldToMaturitySecuritiesTransferredSecurityAtCarryingValue
52400000 USD
CY2016Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
14386000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
12139000 USD
CY2016Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
74000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
68000 USD
CY2016Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
57000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
59000 USD
CY2016Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
12152000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
12428000 USD
CY2016Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
543000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
386000 USD
CY2016Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
15423000 USD
CY2017Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
15767000 USD
CY2016Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
8270000 USD
CY2017Q1 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
6587000 USD
CY2016Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
3882000 USD
CY2017Q1 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
5841000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1845000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1574000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2691000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2295000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.21
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.14
CY2016Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.20
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.14
CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-49000 USD
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
721000 USD
CY2016Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2017Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2016Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
79254000 USD
CY2017Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
29449000 USD
CY2016Q1 us-gaap Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
43449000 USD
CY2017Q1 us-gaap Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
24245000 USD
CY2016Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1837500 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1752 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
12797 shares
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
846000 USD
CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2016Q1 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
53000 USD
CY2017Q1 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
124000 USD
CY2016Q1 us-gaap Insurance Tax
InsuranceTax
374000 USD
CY2017Q1 us-gaap Insurance Tax
InsuranceTax
461000 USD
CY2016Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
13382000 USD
CY2017Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
13068000 USD
CY2016Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
12431000 USD
CY2017Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
11882000 USD
CY2017Q1 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
1017195000 USD
CY2017Q1 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
1940000 USD
CY2016Q1 us-gaap Interest Expense
InterestExpense
2687000 USD
CY2017Q1 us-gaap Interest Expense
InterestExpense
2762000 USD
CY2016Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1888000 USD
CY2017Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1906000 USD
CY2016Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
21000 USD
CY2017Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
17000 USD
CY2016Q1 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
552000 USD
CY2017Q1 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
551000 USD
CY2016Q1 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
88000 USD
CY2017Q1 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
79000 USD
CY2016Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
10070000 USD
CY2017Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
9788000 USD
CY2016Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
10695000 USD
CY2017Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
10306000 USD
CY2016Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
553000 USD
CY2017Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
561000 USD
CY2016Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
310000 USD
CY2017Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
546000 USD
CY2016Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
342000 USD
CY2017Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2016Q1 us-gaap Interest Paid
InterestPaid
3089000 USD
CY2017Q1 us-gaap Interest Paid
InterestPaid
2943000 USD
CY2017Q1 us-gaap Interest Receivable And Other Assets
InterestReceivableAndOtherAssets
21335000 USD
CY2016Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
10308000 USD
CY2017Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
9962000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
1273179000 USD
CY2017Q1 us-gaap Liabilities
Liabilities
1295226000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1418804000 USD
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1433951000 USD
CY2016Q1 us-gaap Loan Processing Fee
LoanProcessingFee
861000 USD
CY2017Q1 us-gaap Loan Processing Fee
LoanProcessingFee
894000 USD
CY2017Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
9372000 USD
CY2016Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1075606000 USD
CY2017Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1076782000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1043764000 USD
CY2017Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1067410000 USD
CY2017Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
71921000 USD
CY2017Q1 us-gaap Long Term Debt
LongTermDebt
124135000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
34943000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
88056000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
879000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
90000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
86000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
81000 USD
CY2016Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
381000 USD
CY2017Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
549000 USD
CY2016Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
297000 USD
CY2017Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
327000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
44092000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
16795000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-52250000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-35598000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
7751000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
19741000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
1796000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
1574000 USD
CY2016Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
1001000 USD
CY2017Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
331000 USD
CY2016Q1 us-gaap Other Comprehensive Income Reclassification Adjustment For Held To Maturity Transferred To Available For Sale Securities Before Tax
OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax
1825000 USD
CY2016Q1 us-gaap Other Comprehensive Income Reclassification Adjustment For Held To Maturity Transferred To Available For Sale Securities Before Tax
OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax
1800000 USD
CY2017Q1 us-gaap Other Comprehensive Income Reclassification Adjustment For Held To Maturity Transferred To Available For Sale Securities Before Tax
OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax
0 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1610000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1445000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2001000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1445000 USD
CY2017Q1 us-gaap Noninterest Bearing Deposit Liabilities Domestic
NoninterestBearingDepositLiabilitiesDomestic
119271000 USD
CY2016Q1 us-gaap Noninterest Expense
NoninterestExpense
15991000 USD
CY2017Q1 us-gaap Noninterest Expense
NoninterestExpense
16317000 USD
CY2016Q1 us-gaap Noninterest Income
NoninterestIncome
8612000 USD
CY2017Q1 us-gaap Noninterest Income
NoninterestIncome
8824000 USD
CY2016Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
217000 USD
CY2017Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
192000 USD
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2016Q1 us-gaap Occupancy Net
OccupancyNet
938000 USD
CY2017Q1 us-gaap Occupancy Net
OccupancyNet
994000 USD
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
19303000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
19597000 USD
CY2016Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
517000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
-164000 USD
CY2016Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
207000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-66000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
897000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
179000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
807000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
257000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
112000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
183000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
152000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
73000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
418000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
448000 USD
CY2016Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
240000 USD
CY2017Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
381000 USD
CY2016Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1731000 USD
CY2017Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-1414000 USD
CY2016Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
317168000 USD
CY2017Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
313263000 USD
CY2016Q1 us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
0 USD
CY2017Q1 us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
50000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
0 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1000
CY2017Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
22945000 USD
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1000
CY2017Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
22900000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
8500000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
161000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
250000 USD
CY2016Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
186000 USD
CY2017Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
129000 USD
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
32885000 USD
CY2017Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
37919000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
652000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1588000 USD
CY2016Q1 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
5450000 USD
CY2017Q1 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
4276000 USD
CY2017Q1 us-gaap Pledged Financial Instruments Not Separately Reported Securities Pledged
PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesPledged
74100000 USD
CY2016Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
186000 USD
CY2017Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
129000 USD
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
9283 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
783 shares
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
7834000 USD
CY2016Q1 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
0 USD
CY2017Q1 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
14483000 USD
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1613000 USD
CY2017Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
4717000 USD
CY2016Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
2124000 USD
CY2017Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-3465000 USD
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
400000 USD
CY2017Q1 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
0 USD
CY2016Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
21225000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
21200000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
0 USD
CY2017Q1 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
0 USD
CY2016Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
327700000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
341150000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
6933000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
4818000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
15000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
0 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
-8000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2017Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
501000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
51077 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
51077 shares
CY2016Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
23000 USD
CY2017Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
24000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
32387000 USD
CY2017Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
21695000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1084000 USD
CY2016Q1 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
987000 USD
CY2017Q1 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
914000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9901250 shares
CY2016Q1 us-gaap Professional Fees
ProfessionalFees
705000 USD
CY2017Q1 us-gaap Professional Fees
ProfessionalFees
677000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26079000 USD
CY2016Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
625000 USD
CY2017Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
518000 USD
CY2016Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
625000 USD
CY2017Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
518000 USD
CY2016Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
194000 USD
CY2017Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
74000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
105000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
148000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-8000 USD
CY2017Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
8500000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
114712000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
117065000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
145625000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
138725000 USD
CY2017Q1 us-gaap Subordinated Debt
SubordinatedDebt
33524000 USD
CY2016Q1 us-gaap Supplies Expense
SuppliesExpense
216000 USD
CY2017Q1 us-gaap Supplies Expense
SuppliesExpense
217000 USD
CY2016Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
0 USD
CY2017Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
0 USD
CY2016Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
368000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10009341 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8061998 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9996544 shares
CY2017Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:11pt;"><font style="font-family:Times New Roman;font-size:11pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;">Note 1 &#8211; Basis of Presentation</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) for interim financial information and with instructions to Form 10&#8209;Q.&#160;Accordingly, they do not include all the information and footnotes required by GAAP for annual year-end financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal, recurring nature. The consolidated balance sheet as of&#160;</font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#160;has been derived from audited financial statements included in the Company&#8217;s&#160;</font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">&#160;filing on Form 10-K.&#160;Operating results for the&#160;</font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">&#160;are not necessarily indicative of the results that may be expected for the year ending&#160;</font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accounting and reporting policies of MVB Financial Corp. (&#8220;the Company&#8221; or &#8220;MVB&#8221;) and its subsidiary (&#8220;Subsidiary&#8221;), MVB Bank, Inc. (the &#8220;Bank&#8221;), the Bank&#8217;s subsidiaries Potomac Mortgage Group, Inc., which does business as MVB Mortgage (&#8220;MVB Mortgage&#8221;) and MVB Insurance, LLC ("MVB Insurance"), conform to accounting principles generally accepted in the United States and practices in the banking industry. The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates, such as the allowance for loan losses, are based upon known facts and circumstances. Estimates are revised by management in the period such facts and circumstances change.&#160;Actual results could differ from those estimates. All significant inter-company accounts and transactions have been eliminated in consolidation.</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the company&#8217;s&#160;</font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, Form 10-K filed with the Securities and Exchange Commission.</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In certain instances, amounts reported in prior periods&#8217; consolidated financial statements have been reclassified to conform to the current presentation.</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All financial information is reported on a continuing operations basis, unless otherwise noted. For a discussion regarding discontinued operations, see </font><font style="font-family:inherit;font-size:10pt;">Note 12, "Discontinued Operations" of the Notes to the Consolidated Financial Statements, included in Item 1, Financial Statements, of this Quarterly Report on Form 10-Q.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Information is presented in these notes with dollars expressed in thousands, unless otherwise noted or specified.</font></div></div>
CY2017Q1 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" style="padding-left:0px;padding-right:0px;padding-top:4px;padding-bottom:4px;" rowspan="1"><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Information related to repurchase agreements is summarized as follows:</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="width:60%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Dollars&#160;in&#160;thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2016</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Balance at end of period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">21,695</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">25,160</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Average balance during the period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">23,113</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">27,066</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Maximum month-end balance</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">24,126</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29,561</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Weighted-average rate during the year</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.29</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.27</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Weighted-average rate at end of period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">%</font></div></td></tr></table></div></div></div>
CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates, such as the allowance for loan losses, are based upon known facts and circumstances. Estimates are revised by management in the period such facts and circumstances change.&#160;Actual results could differ from those estimates.</font></div></div>

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