2018 Q4 Form 10-Q Financial Statement

#000082615418000189 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $16.23M $13.10M
YoY Change 23.88% 22.94%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $187.0K $196.0K
YoY Change -4.59% 24.84%
% of Gross Profit
Depreciation & Amortization $1.070M $850.0K $840.0K
YoY Change 20.22% 1.19% 16.67%
% of Gross Profit
Operating Expenses $187.0K $196.0K
YoY Change -4.59% 24.84%
Operating Profit
YoY Change
Interest Expense $3.522M $2.017M
YoY Change 74.62% 42.04%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.280M $4.660M $3.150M
YoY Change -57.76% 47.94% 101.02%
Income Tax $130.0K $644.0K $376.0K
% Of Pretax Income 10.16% 13.82% 11.94%
Net Earnings $1.150M $4.016M $2.774M
YoY Change 11400.0% 44.77% 92.37%
Net Earnings / Revenue 24.75% 21.18%
Basic Earnings Per Share $0.50 $0.34
Diluted Earnings Per Share $123.3K $0.49 $0.34
COMMON SHARES
Basic Shares Outstanding 9.433M shares 8.099M shares 8.075M shares
Diluted Shares Outstanding 8.271M shares 8.239M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $88.82M $41.02M
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 $38.20M $35.92M $35.23M
YoY Change 9.74% 1.98% 1.72%
Goodwill $12.59M
YoY Change 1651.32%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.600M $7.700M $14.60M
YoY Change 36.51% -47.26% 12.31%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.934B $1.721B $1.534B
YoY Change 24.09% 12.2% 13.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.80M $17.10M $17.00M
YoY Change 32.56% 0.59% 22.3%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $64.07M $45.35M $91.57M
YoY Change -31.53% -50.47% 113.69%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.80M $17.10M $17.00M
YoY Change 32.56% 0.59% 22.3%
LONG-TERM LIABILITIES
Long-Term Debt $31.90M $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $31.90M $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $22.80M $17.10M $17.00M
Total Long-Term Liabilities $31.90M $0.00 $0.00
Total Liabilities $1.761B $1.575B $1.389B
YoY Change 24.53% 13.39% 14.4%
SHAREHOLDERS EQUITY
Retained Earnings $24.47M $24.53M $17.26M
YoY Change 52.55% 42.08% 64.69%
Common Stock $491.0K $437.0K $435.0K
YoY Change 12.87% 0.46% -0.46%
Preferred Stock
YoY Change
Treasury Stock (at cost) $236.0K $197.0K $15.00K
YoY Change 1473.33% 1213.33% -98.75%
Treasury Stock Shares 9.031K shares 7.531K shares 817.0 shares
Shareholders Equity $173.4M $145.6M $144.4M
YoY Change
Total Liabilities & Shareholders Equity $1.934B $1.721B $1.534B
YoY Change 24.09% 12.2% 13.25%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $1.150M $4.016M $2.774M
YoY Change 11400.0% 44.77% 92.37%
Depreciation, Depletion And Amortization $1.070M $850.0K $840.0K
YoY Change 20.22% 1.19% 16.67%
Cash From Operating Activities $7.360M $1.180M $1.790M
YoY Change 4.99% -34.08% -63.98%
INVESTING ACTIVITIES
Capital Expenditures -$1.710M -$2.030M -$870.0K
YoY Change 510.71% 133.33% -77.23%
Acquisitions
YoY Change
Other Investing Activities $23.74M -$64.45M -$77.41M
YoY Change -202.77% -16.74% 8.71%
Cash From Investing Activities $22.02M -$66.47M -$78.28M
YoY Change -194.18% -15.09% 4.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.42M 83.72M 60.95M
YoY Change -22.31% 37.36% 38.33%
NET CHANGE
Cash From Operating Activities 7.360M 1.180M 1.790M
Cash From Investing Activities 22.02M -66.47M -78.28M
Cash From Financing Activities 18.42M 83.72M 60.95M
Net Change In Cash 47.80M 18.43M -15.54M
YoY Change 551.23% -218.6% -40.23%
FREE CASH FLOW
Cash From Operating Activities $7.360M $1.180M $1.790M
Capital Expenditures -$1.710M -$2.030M -$870.0K
Free Cash Flow $9.070M $3.210M $2.660M
YoY Change 24.42% 20.68% -69.74%

Facts In Submission

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CY2018Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.05205
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2018Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8347856 shares
CY2018Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8393158 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8347039 shares
CY2018Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8385627 shares
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
435000 USD
CY2018Q3 us-gaap Common Stock Value
CommonStockValue
437000 USD
CY2017Q3 us-gaap Communication
Communication
221000 USD
us-gaap Communication
Communication
536000 USD
CY2018Q3 us-gaap Communication
Communication
181000 USD
us-gaap Communication
Communication
542000 USD
CY2017Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
196000 USD
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
568000 USD
CY2018Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
187000 USD
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
548000 USD
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1497000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
10829000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1237000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3336000 USD
CY2017Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
892000 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1087000 USD
CY2018Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
406000 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
754000 USD
CY2017Q3 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
533000 USD
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
1190000 USD
CY2018Q3 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
29000 USD
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
891000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
43044000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
87419000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1926000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
5676000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
6 security
CY2018Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
17 security
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
117391000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
222587000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1968000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
3061000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
19 security
CY2018Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
60 security
CY2017Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
160435000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
310006000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
3894000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
8798000 USD
CY2018Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
8737000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
25 security
CY2018Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
77 security
CY2017Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-516000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
229000 USD
CY2018Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
238000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
756000 USD
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2154000 USD
CY2018Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1375000 USD
CY2017Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
39000 USD
CY2018Q3 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
25000 USD
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
8404000 USD
CY2018Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
9080000 USD
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
6250000 USD
CY2018Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
7705000 USD
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
390000 USD
CY2018Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
321000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
25000 USD
CY2018Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
354000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
355000 USD
CY2018Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
354000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
1301000 USD
CY2018Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
1386000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
597000 USD
CY2018Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
667000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
2919000 USD
CY2018Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
3135000 USD
CY2017Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
0 USD
CY2018Q3 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
1454000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
757000 USD
CY2018Q3 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
0 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Mortgage Servicing Rights
DeferredTaxLiabilitiesMortgageServicingRights
536000 USD
CY2018Q3 us-gaap Deferred Tax Liabilities Mortgage Servicing Rights
DeferredTaxLiabilitiesMortgageServicingRights
574000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
122000 USD
CY2018Q3 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
149000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
488000 USD
CY2018Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
414000 USD
CY2017Q4 us-gaap Deposits
Deposits
1219515000 USD
CY2018Q3 us-gaap Deposits
Deposits
1429170000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2382000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2572000 USD
us-gaap Dividends Cash
DividendsCash
2489000 USD
us-gaap Dividends Cash
DividendsCash
3166000 USD
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.00
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
us-gaap Income Taxes Paid
IncomeTaxesPaid
1108000 USD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.44
us-gaap Income Taxes Paid
IncomeTaxesPaid
60000 USD
us-gaap Equipment Expense
EquipmentExpense
2499000 USD
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.98
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.41
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017Q3 us-gaap Equipment Expense
EquipmentExpense
937000 USD
CY2018Q3 us-gaap Equipment Expense
EquipmentExpense
990000 USD
us-gaap Equipment Expense
EquipmentExpense
2977000 USD
CY2017Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
139000 USD
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
454000 USD
CY2018Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
169000 USD
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
507000 USD
CY2017Q3 us-gaap Fees And Commissions Mortgage Banking And Servicing
FeesAndCommissionsMortgageBankingAndServicing
797000 USD
us-gaap Fees And Commissions Mortgage Banking And Servicing
FeesAndCommissionsMortgageBankingAndServicing
2113000 USD
CY2018Q3 us-gaap Fees And Commissions Mortgage Banking And Servicing
FeesAndCommissionsMortgageBankingAndServicing
735000 USD
us-gaap Fees And Commissions Mortgage Banking And Servicing
FeesAndCommissionsMortgageBankingAndServicing
2049000 USD
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
12745000 USD
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
13773000 USD
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
51000 USD
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
39000 USD
CY2017Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
998986000 USD
CY2018Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1078340000 USD
CY2017Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
11026000 USD
CY2018Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
6601000 USD
CY2017Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
1958000 USD
CY2018Q3 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
1856000 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 USD
CY2018Q3 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
994892000 USD
CY2018Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1077802000 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
9843000 USD
CY2018Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
5458000 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
5277000 USD
CY2018Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
1681000 USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
32000 USD
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
291000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
18000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-16000 USD
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1751000 USD
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1687000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
11000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
111000 USD
CY2017Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6300000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6947000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-420000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
345000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-229000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-756000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
360000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1158000 USD
CY2018Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6177000 USD
CY2017Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
23000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
644000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
147000 shares
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1702000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
50000 USD
CY2018Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
16000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
47000 USD
CY2017Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
51000 USD
CY2018Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
39000 USD
CY2017Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
10145000 USD
CY2018Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
5748000 USD
CY2017Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
13737000 USD
CY2018Q3 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
8774000 USD
CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
881000 USD
CY2018Q3 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
853000 USD
CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
881000 USD
CY2018Q3 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
853000 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3150000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9400000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4660000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13163000 USD
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
376000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1316000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1510000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
64275000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
209655000 USD
us-gaap Increase Decrease In Mortgage Loans Held For Sale
IncreaseDecreaseInMortgageLoansHeldForSale
75484000 USD
us-gaap Increase Decrease In Mortgage Loans Held For Sale
IncreaseDecreaseInMortgageLoansHeldForSale
71008000 USD
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
164000 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
172000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
182000 shares
CY2017Q3 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
527000 USD
CY2018Q3 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
661000 USD
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1875000 USD
CY2017Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
13098000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
37396000 USD
CY2018Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
16226000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
45825000 USD
CY2017Q3 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
78000 USD
us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
142000 USD
CY2018Q3 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
68000 USD
us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
169000 USD
CY2017Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
10337000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
29392000 USD
CY2018Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
12281000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
35068000 USD
CY2017Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
1057172000 USD
CY2018Q3 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
1241449000 USD
CY2017Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
8073000 USD
CY2018Q3 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
19125000 USD
CY2017Q3 us-gaap Interest Expense
InterestExpense
2017000 USD
us-gaap Interest Expense
InterestExpense
5360000 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
3522000 USD
us-gaap Interest Expense
InterestExpense
9084000 USD
CY2017Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1619000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
4429000 USD
CY2018Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
2780000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
6765000 USD
CY2017Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
216000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
388000 USD
CY2018Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
410000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
1222000 USD
CY2017Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
182000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
543000 USD
CY2018Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
332000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
1097000 USD
CY2017Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
10981000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
31836000 USD
CY2018Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
12504000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
36141000 USD
CY2017Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
11081000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
32036000 USD
CY2018Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
12704000 USD
us-gaap Interest Income Expense Net
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CY2017Q3 us-gaap Interest Income Securities Tax Exempt
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us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
2344000 USD
CY2018Q3 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
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us-gaap Interest Income Securities Tax Exempt
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CY2017Q3 us-gaap Interest Income Securities Taxable
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CY2018Q3 us-gaap Interest Income Securities Taxable
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us-gaap Interest Income Securities Taxable
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us-gaap Interest Paid Net
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us-gaap Investment Banking Revenue
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InvestmentBankingRevenue
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us-gaap Investment Banking Revenue
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us-gaap Labor And Related Expense
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us-gaap Labor And Related Expense
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us-gaap Legal Fees
LegalFees
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LegalFees
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us-gaap Legal Fees
LegalFees
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us-gaap Marketing And Advertising Expense
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279000 USD
us-gaap Marketing And Advertising Expense
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us-gaap Noninterest Expense
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745000 USD
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207000 USD
us-gaap Noninterest Expense Directors Fees
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5492000 USD
us-gaap Noninterest Income
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us-gaap Noninterest Income Other
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272000 USD
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440000 USD
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1189000 USD
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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1415000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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533000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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1190000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
29000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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891000 USD
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-1400000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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5350000 USD
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-3488000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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us-gaap Other Income
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us-gaap Other Income
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us-gaap Other Noninterest Expense
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1046000 USD
us-gaap Other Noninterest Expense
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2957000 USD
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
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1499000 USD
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
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us-gaap Payments For Proceeds From Loans And Leases
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us-gaap Payments Of Dividends
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2489000 USD
us-gaap Payments Of Dividends
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
651000 USD
us-gaap Payments To Acquire Available For Sale Securities
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us-gaap Payments To Acquire Available For Sale Securities
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us-gaap Payments To Acquire Life Insurance Policies
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600000 USD
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900000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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2372000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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3078000 USD
us-gaap Payments To Develop Real Estate Assets
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us-gaap Payments To Develop Real Estate Assets
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0 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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1.25
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.25
CY2017Q4 us-gaap Preferred Stock Shares Authorized
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500000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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60000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Life Insurance Policies
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0 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
576000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
22060000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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12793000 USD
us-gaap Share Based Compensation
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1048000 USD
us-gaap Repayments Of Long Term Debt
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20260000 USD
us-gaap Repayments Of Long Term Debt
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272000 USD
us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
30000000 USD
us-gaap Repayments Of Other Short Term Debt
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40000000 USD
CY2017Q4 us-gaap Restricted Investments
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9997000 USD
CY2018Q3 us-gaap Restricted Investments
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
16042000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
24529000 USD
us-gaap Proceeds From Other Short Term Debt
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70000000 USD
us-gaap Proceeds From Other Short Term Debt
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us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Proceeds From Repayments Of Short Term Debt
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CY2017Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
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us-gaap Proceeds From Sale Of Available For Sale Securities
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162319000 USD
CY2018Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
25070000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
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113180000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
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us-gaap Proceeds From Sale Of Loans Held For Sale
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us-gaap Proceeds From Sale Of Loans Receivable
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us-gaap Proceeds From Sale Of Loans Receivable
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3589000 USD
us-gaap Proceeds From Sale Of Other Real Estate
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237000 USD
us-gaap Proceeds From Sale Of Other Real Estate
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1260000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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83000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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7000 USD
us-gaap Proceeds From Sale Of Treasury Stock
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137000 USD
us-gaap Proceeds From Sale Of Treasury Stock
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161000 USD
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us-gaap Professional Fees
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1112000 USD
CY2018Q3 us-gaap Professional Fees
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361000 USD
us-gaap Professional Fees
ProfessionalFees
1140000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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34809000 USD
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CY2017Q3 us-gaap Provision For Loan And Lease Losses
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100000 USD
us-gaap Provision For Loan And Lease Losses
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200000 USD
CY2018Q3 us-gaap Provision For Loan And Lease Losses
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200000 USD
us-gaap Provision For Loan And Lease Losses
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600000 USD
CY2017Q4 us-gaap Real Estate Acquired Through Foreclosure
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286000 USD
CY2017Q3 us-gaap Real Estate Partnership Investment Subsidiaries Net Income Loss Before Tax
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-81000 USD
us-gaap Real Estate Partnership Investment Subsidiaries Net Income Loss Before Tax
RealEstatePartnershipInvestmentSubsidiariesNetIncomeLossBeforeTax
-196000 USD
CY2018Q3 us-gaap Real Estate Partnership Investment Subsidiaries Net Income Loss Before Tax
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us-gaap Share Based Compensation
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CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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58403 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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25.89
CY2017Q4 us-gaap Short Term Borrowings
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CY2018Q3 us-gaap Short Term Borrowings
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CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8215000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8271000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8274000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8068000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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8099000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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8092000 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
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0 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
0 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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5418 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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45302 shares
us-gaap Stock Issued During Period Value Share Based Compensation Gross
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1185000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
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622000 USD
CY2015Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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416000 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
134859000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
144384000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
144765000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
145557000 USD
CY2017Q3 us-gaap Taxes Other
TaxesOther
211000 USD
us-gaap Taxes Other
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659000 USD
CY2018Q3 us-gaap Taxes Other
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259000 USD
us-gaap Taxes Other
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761000 USD
us-gaap Transfer Of Other Real Estate
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1007000 USD
us-gaap Transfer Of Other Real Estate
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538000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
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17.38
CY2018Q3 us-gaap Treasury Stock Common Shares
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82725 shares
CY2018Q3 us-gaap Treasury Stock Common Value
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1438000 USD
CY2017Q4 us-gaap Treasury Stock Shares
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817 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
7531 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
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6714 shares
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us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk</font><font style="font-family:inherit;font-size:10pt;"> &#8211; The Company grants commercial, residential, construction, municipal, and various forms of consumer lending to customers primarily in its market area of Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania, and in Washington County, Maryland. Therefore the Company's exposure to credit risk is significantly affected by changes in the economy in those areas. Although the Company maintains a diversified loan portfolio, a significant portion of its customers&#8217; ability to honor their contracts is dependent upon economic sectors for commercial real estate, including office space, retail strip centers, sales finance, sub-dividers and developers, and multi-family, hospitality, and residential building operators. Management evaluates each customer&#8217;s creditworthiness on a case-by-case basis. The amount of collateral obtained, if collateral is deemed necessary by the Company upon the extension of credit, is based on management&#8217;s credit evaluation of the customer. Collateral held varies, but generally includes real estate and equipment.</font></div></div>
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CONTINGENCIES </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The nature of the Company&#8217;s business generates a certain amount of litigation involving matters arising out of the ordinary course of business. Except as described below, in the opinion of management, there are </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> legal proceedings that might have a material effect on the results of operations, liquidity, or the financial position of the Company at this time.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On May 25, 2012, SEPTA filed a putative class action complaint in the U.S. District Court for the Middle District of Pennsylvania against the Company, the Bank and certain current and former directors and executive officers (collectively, the &#8220;Defendants&#8221;). The complaint alleges, among other things, that (i) in connection with the Company&#8217;s Registration Statement on Form S-3 dated February 23, 2010 and its Prospectus Supplement dated March 23, 2010, and (ii) during the purported class period of March 24, 2010 through October 27, 2011, the Company issued materially false and misleading statements regarding the Company&#8217;s lending practices and financial results, including misleading statements concerning the stringent nature of the Bank&#8217;s credit practices and underwriting standards, the quality of its loan portfolio, and the intended use of the proceeds from the Company&#8217;s March 2010 public offering of common stock. The complaint asserts claims under Sections 11, 12(a) and 15 of the Securities Act of 1933, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, and seeks class certification, unspecified money damages, interest, costs, fees and equitable or injunctive relief. Under the Private Securities Litigation Reform Act of 1995 (&#8220;PSLRA&#8221;), motions for appointment of Lead Plaintiff in this case were due by July 24, 2012. SEPTA was the sole movant and the Court appointed SEPTA Lead Plaintiff on August 20, 2012.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the PSLRA and the Court&#8217;s September 27, 2012 Order, SEPTA was given until October 26, 2012 to file an amended complaint and the Defendants until December 7, 2012 to file a motion to dismiss the amended complaint. SEPTA&#8217;s opposition to the Defendant&#8217;s motion to dismiss was originally due January 11, 2013. Under the PSLRA, discovery and all other proceedings in the case were stayed pending the Court&#8217;s ruling on the motion to dismiss. The September 27, 2012 Order specified that if the motion to dismiss were denied, the Court would schedule a conference to address discovery and the filing of a motion for class certification. On October 26, 2012, SEPTA filed an unopposed motion for enlargement of time to file its amended complaint in order to permit the parties and new defendants to be named in the amended complaint time to discuss plaintiff&#8217;s claims and defendants&#8217; defenses. On October 26, 2012, the Court granted SEPTA&#8217;s motion, mooting its September 27, 2012 scheduling Order, and requiring SEPTA to file its amended complaint on or before January 16, 2013 or otherwise advise the Court of circumstances that require a further enlargement of time. On January 14, 2013, the Court granted SEPTA&#8217;s second unopposed motion for enlargement of time to file an amended complaint on or before March 22, 2013.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 4, 2013, SEPTA filed an amended complaint. The amended complaint expands the list of defendants in the action to include the Company&#8217;s independent registered public accounting firm and the underwriters of the Company&#8217;s March 2010 public offering of common stock. In addition, among other things, the amended complaint extends the purported 1934 Exchange Act class period from March 15, 2010 through April 5, 2012. Pursuant to the Court&#8217;s March 28, 2013 Second Scheduling Order, on May 28, 2013, all defendants filed their motions to dismiss the amended complaint, and on July 22, 2013, SEPTA filed its &#8220;omnibus&#8221; opposition to all of the defendants&#8217; motions to dismiss. On August 23, 2013, all defendants filed reply briefs in further support of their motions to dismiss. On December 5, 2013, the Court ordered oral argument on the Orrstown Defendants&#8217; motion to dismiss the amended complaint to be heard on February 7, 2014. Oral argument on the pending motions to dismiss SEPTA&#8217;s amended complaint was held on April 29, 2014.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Second Scheduling Order stayed all discovery in the case pending the outcome of the motions to dismiss, and informed the parties that, if required, a telephonic conference to address discovery and the filing of SEPTA&#8217;s motion for class certification would be scheduled after the Court&#8217;s ruling on the motions to dismiss.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On April 10, 2015, pursuant to Court order, all parties filed supplemental briefs addressing the impact of the U.S. Supreme Court&#8217;s March 24, 2015 decision in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund on defendants&#8217; motions to dismiss the amended complaint.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On June 22, 2015, in a 96-page Memorandum, the Court dismissed without prejudice SEPTA&#8217;s amended complaint against all defendants, finding that SEPTA failed to state a claim under either the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. The Court ordered that, within </font><font style="font-family:inherit;font-size:10pt;">30</font><font style="font-family:inherit;font-size:10pt;"> days, SEPTA either seek leave to amend its amended complaint, accompanied by the proposed amendment, or file a notice of its intention to stand on the amended complaint.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On July 22, 2015, SEPTA filed a motion for leave to amend under Local Rule 15.1, and attached a copy of its proposed second amended complaint to its motion. Many of the allegations of the proposed second amended complaint are essentially the same or similar to the allegations of the dismissed amended complaint. The proposed second amended complaint also alleges that the Orrstown Defendants did not publicly disclose certain alleged failures of internal controls over loan underwriting, risk management, and financial reporting during the period 2009 to 2012, in violation of the federal securities laws. On February 8, 2016, the Court granted SEPTA&#8217;s motion for leave to amend and SEPTA filed its second amended complaint that same day.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> On February 25, 2016, the Court issued a scheduling Order directing: all defendants to file any motions to dismiss by March 18, 2016; SEPTA to file an omnibus opposition to defendants&#8217; motions to dismiss by April 8, 2016; and all defendants to file reply briefs in support of their motions to dismiss by April 22, 2016. Defendants timely filed their motions to dismiss the second amended complaint and the parties filed their briefs in accordance with the Court-ordered schedule, above. The February 25, 2016 Order stays all discovery and other deadlines in the case (including the filing of SEPTA&#8217;s motion for class certification) pending the outcome of the motions to dismiss.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The allegations of SEPTA&#8217;s proposed second amended complaint disclosed the existence of a confidential, non-public, fact-finding inquiry regarding the Company being conducted by the SEC. As disclosed in the Company&#8217;s Form 8-K filed on September 27, 2016, on that date the Company entered into a settlement agreement with the SEC resolving the investigation of accounting and related matters at the Company for the periods ended June 30, 2010, to December 31, 2011. As part of the settlement of the SEC&#8217;s administrative proceedings and pursuant to the cease-and-desist order, without admitting or denying the SEC&#8217;s findings, the Company, its Chief Executive Officer, its former Chief Financial Officer, its former Executive Vice President and Chief Credit Officer, and its Chief Accounting Officer, agreed to pay civil money penalties to the SEC. The Company agreed to pay a civil money penalty of </font><font style="font-family:inherit;font-size:10pt;">$1,000,000</font><font style="font-family:inherit;font-size:10pt;">. The Company had previously established a reserve for that amount which was expensed in the second fiscal quarter of 2016. In the settlement agreement with the SEC, the Company also agreed to cease and desist from committing or causing any violations and any future violations of Securities Act Sections 17(a)(2) and 17(a)(3) and Exchange Act Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B), and Rules 12b-20, 13a-1 and 13a-13 promulgated thereunder.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On September 27, 2016, the Orrstown Defendants filed with the Court a Notice of Subsequent Event in Further Support of their Motion to Dismiss the Second Amended Complaint, regarding the settlement with the SEC. The Notice attached a copy of the SEC&#8217;s cease-and-desist order and briefly described what the Company believed were the most salient terms of the neither-admit-nor-deny settlement. On September 29, 2016, SEPTA filed a Response to the Notice, in which SEPTA argued that the settlement with the SEC did not support dismissal of the second amended complaint.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 7, 2016, the Court issued an Order and Memorandum granting in part and denying in part defendants&#8217; motions to dismiss SEPTA&#8217;s second amended complaint. The Court granted the motions to dismiss the Securities Act claims against all defendants, and granted the motions to dismiss the Exchange Act Section 10(b) and Rule 10b-5 claims against all defendants except Orrstown Financial Services, Inc., Orrstown Bank, Thomas R. Quinn, Jr., Bradley S. Everly, and Jeffrey W. Embly. The Court also denied the motions to dismiss the Exchange Act Section 20(a) claims against Quinn, Everly, and Embly.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 31, 2017, the Court entered a Case Management Order establishing the schedule for the litigation and, on August 15, 2017, it entered a revised Order that, among other things, set the following deadlines:&#160;all fact discovery closes on March 1, 2018, and SEPTA&#8217;s motion for class certification is due the same day; expert merits discovery closes May 30, 2018; summary judgment motions are due by June 26, 2018; the mandatory pretrial and settlement conference is set for December 11, 2018; and trial is scheduled to begin on January 7, 2019.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Document discovery has begun in the case and is ongoing. To date, one deposition, of a non-party, has been concluded.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 15, 2017, the Orrstown Defendants and SEPTA exchanged expert reports in opposition to and in support of class certification, respectively. On January 15, 2018, the parties exchanged expert rebuttal reports. SEPTA&#8217;s motion for class certification was due March 1, 2018, with the Orrstown Defendants&#8217; opposition due April 2, 2018, and SEPTA&#8217;s reply due April 23, 2018.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On February 9, 2018, SEPTA filed a Status Report and Request for a Telephonic Status Conference asking the Court to convene a conference to discuss the status of discovery in the case and possible revisions to the case schedule. On February 12, 2018, the Orrstown Defendants filed their status report to provide the Court with a summary of document discovery in the case to date. On February 27, 2018, SEPTA filed an unopposed motion for a continuance of the existing case deadlines pending a status conference with the Court or the issuance of a revised case schedule. On February 28, 2018, the Court issued an Order continuing all case management deadlines until further order of the Court.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 27, 2018, the Court held a telephonic status conference with the parties to discuss outstanding discovery issues and case deadlines. On May 2, 2018, the parties filed a joint status report. On May 10, 2018, the Court held a follow-up telephonic status conference at which the parties reported on the progress of discovery to date. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 9, 2018, SEPTA filed a motion to compel the production of Confidential Supervisory Information (CSI) of non-parties the Board of Governors of the Federal Reserve System (FRB) and the Pennsylvania Department of Banking and Securities, in the possession of Orrstown and third parties. On August 23, 2018, the Orrstown Defendants filed a response to the motion to compel. On August 30, 2018, the FRB filed an unopposed motion to intervene in the Action for the purpose of opposing SEPTA&#8217;s motion to compel, and on September 27, 2018, the FRB filed its brief in opposition to SEPTA&#8217;s motion. On October 11, 2018, SEPTA filed its reply brief in support of its motion to compel. The motion is pending before the Court.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Party and non-party document discovery in the case continues. To date, one additional non-party deposition has been requested.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company believes that the allegations of SEPTA&#8217;s second amended complaint are without merit and intends to vigorously defend itself against those claims. It is not possible at this time to estimate reasonably possible losses, or even a range of reasonably possible losses, in connection with the litigation.</font></div></div>

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