2016 Q4 Form 10-Q Financial Statement

#000119312516765359 Filed on November 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $2.755M $2.358M
YoY Change 16.84% 13.47%
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 $130.0K $140.0K $110.0K
YoY Change 0.0% 27.27% 0.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $206.0K $183.0K
YoY Change 12.57% 12.96%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.000M $945.0K $591.0K
YoY Change 47.06% 59.9% 30.18%
Income Tax $360.0K $335.0K $213.0K
% Of Pretax Income 36.0% 35.45% 36.04%
Net Earnings $650.0K $610.0K $378.0K
YoY Change 30.0% 61.38% 28.14%
Net Earnings / Revenue 22.14% 16.03%
Basic Earnings Per Share $0.31 $0.19
Diluted Earnings Per Share $325.0K $0.31 $0.19
COMMON SHARES
Basic Shares Outstanding 1.987M shares 1.985M shares 1.945M shares
Diluted Shares Outstanding 1.988M shares 1.949M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $36.17M $23.08M $17.98M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $4.929M $4.653M $4.063M
YoY Change 16.75% 14.52% 11.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $500.0K $400.0K
YoY Change 25.0% 33.33%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $303.9M $290.0M $244.7M
YoY Change 24.54% 18.48% 19.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
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 $1.500M $2.000M $1.000M
YoY Change 0.0% 100.0% -37.5%
Total Long-Term Liabilities $1.500M $2.000M $1.000M
YoY Change 0.0% 100.0% -37.5%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $1.500M $2.000M $1.000M
Total Liabilities $276.9M $263.1M $220.4M
YoY Change 26.36% 19.38% 20.09%
SHAREHOLDERS EQUITY
Retained Earnings $6.563M $5.917M $3.941M
YoY Change 47.75% 50.14% 79.79%
Common Stock $20.75M $20.56M $20.13M
YoY Change 1.55% 2.13% 111733.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $27.08M $26.84M $24.33M
YoY Change
Total Liabilities & Shareholders Equity $303.9M $290.0M $244.7M
YoY Change 24.54% 18.48% 19.7%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $650.0K $610.0K $378.0K
YoY Change 30.0% 61.38% 28.14%
Depreciation, Depletion And Amortization $130.0K $140.0K $110.0K
YoY Change 0.0% 27.27% 0.0%
Cash From Operating Activities $520.0K $2.290M $390.0K
YoY Change 85.71% 487.18% -54.12%
INVESTING ACTIVITIES
Capital Expenditures -$410.0K -$570.0K -$540.0K
YoY Change 41.38% 5.56% 980.0%
Acquisitions
YoY Change
Other Investing Activities -$1.390M -$6.260M -$4.640M
YoY Change -82.73% 34.91% -65.68%
Cash From Investing Activities -$1.800M -$6.830M -$5.190M
YoY Change -78.39% 31.6% -61.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.37M 16.82M 15.12M
YoY Change -1051.66% 11.24% -781.08%
NET CHANGE
Cash From Operating Activities 520.0K 2.290M 390.0K
Cash From Investing Activities -1.800M -6.830M -5.190M
Cash From Financing Activities 14.37M 16.82M 15.12M
Net Change In Cash 13.09M 12.28M 10.32M
YoY Change -236.92% 18.99% -169.03%
FREE CASH FLOW
Cash From Operating Activities $520.0K $2.290M $390.0K
Capital Expenditures -$410.0K -$570.0K -$540.0K
Free Cash Flow $930.0K $2.860M $930.0K
YoY Change 63.16% 207.53% 3.33%

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CY2015Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
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CY2015Q4 us-gaap Time Deposits
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CY2015Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
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CY2015Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
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CY2015Q4 us-gaap Tier One Leverage Capital To Average Assets
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CY2015Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
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CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2015Q4 pmhg Common Equity Tier One Capital Required To Be Well Capitalized To Risk Weighted Assets
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CY2016Q3 us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
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CY2015Q4 pmhg Loans And Leases Receivable Deferred Income Unamortized
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CY2015Q4 pmhg Common Equity Tier One Risk Based Capital Required To Be Well Capitalized
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11945000
CY2015Q4 pmhg Common Equity Tier One Capital
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CY2015Q4 pmhg Common Equity Tier One Capital To Risk Weighted Assets
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CY2015Q4 pmhg Common Equity Tier One Capital Required For Capital Adequacy
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CY2015Q4 pmhg Common Equity Tier One Capital Required For Capital Adequacy To Risk Weighted Assets
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Bank Owned Life Insurance Income
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us-gaap Federal Deposit Insurance Corporation Premium Expense
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us-gaap Noninterest Income Other
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130000
us-gaap Labor And Related Expense
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2571000
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280000
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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10000
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1203000
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4826000
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138000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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InterestIncomeExpenseNet
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OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
326000
us-gaap Other Noninterest Expense
OtherNoninterestExpense
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844000
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368000
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29000
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14000
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ShareBasedCompensation
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SoftwareMaintenanceAmortizationAndOtherNonInterestExpense
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pmhg Payments For Loan Originations Net Of Principal Payments
PaymentsForLoanOriginationsNetOfPrincipalPayments
25637000
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DocumentPeriodEndDate
2016-09-30
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14648000
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IncreaseDecreaseInDeposits
43583000
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AccretionAmortizationOfDiscountsAndPremiumsInvestments
-332000
dei Entity Registrant Name
EntityRegistrantName
Prime Meridian Holding Co
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GainLossOnSaleOfSecuritiesNet
102000
us-gaap Dividends
Dividends
99000
dei Document Type
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10-Q
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EntityCentralIndexKey
0001586454
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AllocatedShareBasedCompensationExpense
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2016
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EarningsPerShareBasic
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DepreciationAndAmortization
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1000
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EarningsPerShareDiluted
0.79
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1884000
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
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BankOwnedLifeInsuranceIncome
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us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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us-gaap Interest Expense
InterestExpense
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us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
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us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
AllowanceForLoanAndLeaseLossesPeriodIncreaseDecrease
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<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>(10)</b></td> <td valign="top" align="left"><b>Reclassification</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 50px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Certain noninterest expenses were reclassified from occupancy and equipment to software maintenance, amortization, and other for the three and nine months ended September&#xA0;30, 2015 to conform to the presentation for the three and nine months ended September&#xA0;30, 2016. The reclassification of expenses had no effect on net earnings.</p> </div>
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LaborAndRelatedExpense
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213000
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1574000
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2435000
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InterestExpenseDomesticDeposits
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558000
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1574000
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538000
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2432000
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826000
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181000
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13000
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82000
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33268000
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P2Y5M23D
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412000
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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dei Trading Symbol
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PMHG
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
7500 shares
us-gaap Share Based Compensation
ShareBasedCompensation
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0.19
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EarningsPerShareDiluted
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InterestAndDividendIncomeSecurities
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pmhg Alll Qualified As Tier Two Capital On Basis Of Percentage Of Risk Weighted Assets
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0.0125 pure
pmhg Number Of Banking Offices
NumberOfBankingOffices
3 Office
pmhg Payments For Loan Originations Net Of Principal Payments
PaymentsForLoanOriginationsNetOfPrincipalPayments
36103000
pmhg Provisions Credit For Loan And Lease Losses
ProvisionsCreditForLoanAndLeaseLosses
-412000
pmhg Number Of Loan Portfolio Segments
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3 Segment
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0
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378000
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3694 shares
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InterestIncomeExpenseNet
2175000
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355000
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12000
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FederalDepositInsuranceCorporationPremiumExpense
28000
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1000
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NoninterestIncomeOther
45000
CY2015Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
959000
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
224000
CY2015Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
233000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
378000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
591000
CY2015Q3 us-gaap Interest Expense
InterestExpense
183000
CY2015Q3 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
179000
CY2015Q3 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4000
CY2015Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
2051000
CY2015Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
1000
CY2015Q3 us-gaap Occupancy Net
OccupancyNet
222000
CY2015Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
0
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
378000
CY2015Q3 us-gaap Noninterest Expense
NoninterestExpense
1750000
CY2015Q3 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
10000
CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
355000
CY2015Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
2358000
CY2015Q3 us-gaap Marketing Expense
MarketingExpense
95000
CY2015Q3 us-gaap Noninterest Income
NoninterestIncome
290000
CY2015Q3 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
-131000
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1949039 shares
CY2015Q3 us-gaap Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
196000
CY2015Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
124000
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1945345 shares
CY2015Q3 us-gaap Professional Fees
ProfessionalFees
69000
CY2015Q3 pmhg Software Maintenance Amortization And Other Non Interest Expense
SoftwareMaintenanceAmortizationAndOtherNonInterestExpense
109000
CY2015Q3 pmhg Provisions Credit For Loan And Lease Losses
ProvisionsCreditForLoanAndLeaseLosses
-124000
CY2016Q3 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
0
CY2016Q3 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
74000
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
570000
CY2016Q3 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
12000
CY2016Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
36000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
610000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2965 shares
CY2016Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
2573000
CY2016Q3 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0
CY2016Q3 us-gaap Noninterest Income Other
NoninterestIncomeOther
69000
CY2016Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1062000
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-40000
CY2016Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
457000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
610000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
945000
CY2016Q3 us-gaap Interest Expense
InterestExpense
206000
CY2016Q3 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
205000
CY2016Q3 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
1000
CY2016Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
2441000
CY2016Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
0
CY2016Q3 us-gaap Occupancy Net
OccupancyNet
209000
CY2016Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
0
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
610000
CY2016Q3 us-gaap Noninterest Expense
NoninterestExpense
1911000
CY2016Q3 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
26000
CY2016Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
2549000
CY2016Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
-64000
CY2016Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
304000
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-64000
CY2016Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
2755000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
335000
CY2016Q3 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
156000
CY2016Q3 us-gaap Marketing Expense
MarketingExpense
94000
CY2016Q3 us-gaap Noninterest Income
NoninterestIncome
415000
CY2016Q3 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
24000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1988166 shares
CY2016Q3 us-gaap Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
260000
CY2016Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
108000
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1985201 shares
CY2016Q3 us-gaap Professional Fees
ProfessionalFees
81000
CY2016Q3 pmhg Software Maintenance Amortization And Other Non Interest Expense
SoftwareMaintenanceAmortizationAndOtherNonInterestExpense
125000
CY2016Q3 pmhg Provisions Credit For Loan And Lease Losses
ProvisionsCreditForLoanAndLeaseLosses
-108000

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