2016 Q3 Form 10-Q Financial Statement

#000119312516680374 Filed on August 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $470.0K $440.0K $440.0K
YoY Change 4.44% 0.0% 0.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $267.0K $267.0K $214.0K
YoY Change 13.14% 24.77% -39.2%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $406.0K $139.0K -$1.605M
YoY Change -115.9% -108.66% -1705.0%
Income Tax $78.00K
% Of Pretax Income 56.12%
Net Earnings $406.0K $61.00K -$1.605M
YoY Change -115.9% -103.8% -579.1%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $80.08K $11.72K -$314.5K
COMMON SHARES
Basic Shares Outstanding 5.123M shares 5.123M shares 5.123M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $64.51M $65.71M $33.39M
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 $21.67M $22.28M $22.94M
YoY Change -4.53% -2.87% -6.51%
Goodwill
YoY Change
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 $682.5M $668.5M $680.2M
YoY Change 3.94% -1.73% -7.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $18.30M $18.10M $18.80M
YoY Change -3.68% -3.72% 5.62%
Total Long-Term Liabilities $18.30M $18.10M $18.80M
YoY Change -3.68% -3.72% 5.62%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $18.30M $18.10M $18.80M
Total Liabilities $588.2M $573.8M $587.9M
YoY Change 4.09% -2.39% -7.5%
SHAREHOLDERS EQUITY
Retained Earnings $19.69M $19.29M $20.99M
YoY Change 6.84% -8.1% -39.45%
Common Stock $70.90M $70.90M $70.90M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $94.36M $94.62M $92.32M
YoY Change
Total Liabilities & Shareholders Equity $682.5M $668.5M $680.2M
YoY Change 3.94% -1.73% -7.97%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $406.0K $61.00K -$1.605M
YoY Change -115.9% -103.8% -579.1%
Depreciation, Depletion And Amortization $470.0K $440.0K $440.0K
YoY Change 4.44% 0.0% 0.0%
Cash From Operating Activities $970.0K $1.050M $1.190M
YoY Change -5.83% -11.76% -48.48%
INVESTING ACTIVITIES
Capital Expenditures $150.0K -$220.0K $20.00K
YoY Change -168.18% -1200.0% -200.0%
Acquisitions
YoY Change
Other Investing Activities -$16.43M $27.06M $18.05M
YoY Change -167.47% 49.92% 108.67%
Cash From Investing Activities -$16.29M $26.84M $18.06M
YoY Change -167.48% 48.62% 109.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.12M -33.79M -41.21M
YoY Change -161.23% -18.01% 286.95%
NET CHANGE
Cash From Operating Activities 970.0K 1.050M 1.190M
Cash From Investing Activities -16.29M 26.84M 18.06M
Cash From Financing Activities 14.12M -33.79M -41.21M
Net Change In Cash -1.200M -5.900M -21.96M
YoY Change -156.87% -73.13% -7672.41%
FREE CASH FLOW
Cash From Operating Activities $970.0K $1.050M $1.190M
Capital Expenditures $150.0K -$220.0K $20.00K
Free Cash Flow $820.0K $1.270M $1.170M
YoY Change -34.4% 8.55% -49.79%

Facts In Submission

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pfbx Atm Expense
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pfbx Other Real Estate Expense
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.&#xA0;Actual results could differ from those estimates.&#xA0;Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of other real estate acquired in connection with foreclosure or in satisfaction of loans and valuation allowances associated with the realization of deferred tax assets, which are based on future taxable income.</p> </div>
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InterestExpense
214000
CY2015Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
3058000
CY2015Q2 us-gaap Occupancy Net
OccupancyNet
648000
CY2015Q2 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
22000
CY2015Q2 us-gaap Noninterest Expense
NoninterestExpense
6468000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2473000
CY2015Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1536000
CY2015Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4594000
CY2015Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
4808000
CY2015Q2 us-gaap Interest Income Securities Other Us Government
InterestIncomeSecuritiesOtherUSGovernment
500000
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2473000
CY2015Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
861000
CY2015Q2 us-gaap Interest Expense Deposits
InterestExpenseDeposits
165000
CY2015Q2 us-gaap Interest Income Securities State And Municipal
InterestIncomeSecuritiesStateAndMunicipal
354000
CY2015Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
140000
CY2015Q2 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
3000
CY2015Q2 us-gaap Interest Income Securities Us Treasury
InterestIncomeSecuritiesUSTreasury
163000
CY2015Q2 us-gaap Noninterest Income
NoninterestIncome
1805000
CY2015Q2 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Short Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
49000
CY2015Q2 pfbx Atm Expense
AtmExpense
482000
CY2015Q2 pfbx Other Real Estate Expense
OtherRealEstateExpense
291000
CY2015Q2 pfbx Federal Deposit Insurance Corporation And State Banking Assessments
FederalDepositInsuranceCorporationAndStateBankingAssessments
215000
CY2016Q2 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
11000
CY2016Q2 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
134000
CY2016Q2 us-gaap Equipment Expense
EquipmentExpense
752000
CY2016Q2 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
918000
CY2016Q2 us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
367000
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2016Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
187000
CY2016Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
666000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1459000
CY2016Q2 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
91000
CY2016Q2 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
18000
CY2016Q2 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
332000
CY2016Q2 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
3568000
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
11000
CY2016Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
2755000
CY2016Q2 us-gaap Interest Income Securities Corporate Debt Operating
InterestIncomeSecuritiesCorporateDebtOperating
8000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
61000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
139000
CY2016Q2 us-gaap Interest Expense
InterestExpense
267000
CY2016Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
4259000
CY2016Q2 us-gaap Occupancy Net
OccupancyNet
592000
CY2016Q2 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
54000
CY2016Q2 us-gaap Noninterest Expense
NoninterestExpense
5648000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1398000
CY2016Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
24000
CY2016Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4283000
CY2016Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
4550000
CY2016Q2 us-gaap Interest Income Securities Other Us Government
InterestIncomeSecuritiesOtherUSGovernment
218000
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1409000
CY2016Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
724000
CY2016Q2 us-gaap Interest Expense Deposits
InterestExpenseDeposits
224000
CY2016Q2 us-gaap Interest Income Securities State And Municipal
InterestIncomeSecuritiesStateAndMunicipal
316000
CY2016Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
123000
CY2016Q2 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
2000
CY2016Q2 us-gaap Interest Income Securities Us Treasury
InterestIncomeSecuritiesUSTreasury
250000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
78000
CY2016Q2 us-gaap Noninterest Income
NoninterestIncome
1528000
CY2016Q2 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Short Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
43000
CY2016Q2 pfbx Atm Expense
AtmExpense
167000
CY2016Q2 pfbx Other Real Estate Expense
OtherRealEstateExpense
123000
CY2016Q2 pfbx Federal Deposit Insurance Corporation And State Banking Assessments
FederalDepositInsuranceCorporationAndStateBankingAssessments
203000

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