2019 Q1 Form 10-Q Financial Statement

#000071660519000013 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $16.43M $13.20M
YoY Change 24.49% 13.0%
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 $760.0K $470.0K
YoY Change 61.7% -41.98%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $3.756M $2.048M
YoY Change 83.4% 52.15%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.758M $3.797M
YoY Change 25.31% 3.4%
Income Tax $812.0K $589.0K
% Of Pretax Income 17.07% 15.51%
Net Earnings $3.944M $3.209M
YoY Change 22.9% 19.47%
Net Earnings / Revenue 24.0% 24.31%
Basic Earnings Per Share $0.56 $0.45
Diluted Earnings Per Share $0.56 $0.45
COMMON SHARES
Basic Shares Outstanding 7.038M shares 4.689M shares
Diluted Shares Outstanding 7.038M shares 4.689M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $73.60M $37.39M
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 $33.27M $27.59M
YoY Change 20.6% 12.92%
Goodwill $17.10M $17.10M
YoY Change 0.0% 0.0%
Intangibles $1.091M $1.382M
YoY Change -21.06% -19.13%
Long-Term Investments
YoY Change
Other Assets $4.200M $4.700M
YoY Change -10.64% -41.25%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.705B $1.527B
YoY Change 11.66% 9.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.300M $800.0K
YoY Change 62.5% 100.0%
Accrued Expenses $4.200M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $84.50M $59.31M
YoY Change 42.48% 590.48%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.500M $800.0K
YoY Change 587.5% 100.0%
LONG-TERM LIABILITIES
Long-Term Debt $6.000M $124.0M
YoY Change -95.16% 63.16%
Other Long-Term Liabilities $14.00M $12.10M
YoY Change 15.7% -24.38%
Total Long-Term Liabilities $20.00M $136.1M
YoY Change -85.3% 47.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.500M $800.0K
Total Long-Term Liabilities $20.00M $136.1M
Total Liabilities $1.558B $1.389B
YoY Change 12.17% 10.07%
SHAREHOLDERS EQUITY
Retained Earnings $71.53M $63.83M
YoY Change 12.05% 2.84%
Common Stock $41.77M $41.75M
YoY Change 0.05% 0.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.12M $12.12M
YoY Change 0.0% 18.38%
Treasury Stock Shares 320.2K shares 320.2K shares
Shareholders Equity $147.0M $138.1M
YoY Change
Total Liabilities & Shareholders Equity $1.705B $1.527B
YoY Change 11.66% 9.0%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $3.944M $3.209M
YoY Change 22.9% 19.47%
Depreciation, Depletion And Amortization $760.0K $470.0K
YoY Change 61.7% -41.98%
Cash From Operating Activities $6.298M $3.624M
YoY Change 73.79% -20.0%
INVESTING ACTIVITIES
Capital Expenditures -$620.0K -$320.0K
YoY Change 93.75% -42.86%
Acquisitions
YoY Change
Other Investing Activities -$2.100M -$48.66M
YoY Change -95.68% 136.44%
Cash From Investing Activities -$2.715M -$48.99M
YoY Change -94.46% 131.72%
FINANCING ACTIVITIES
Cash Dividend Paid $2.205M $2.204M
YoY Change 0.05% -0.94%
Common Stock Issuance & Retirement, Net $21.00K $23.00K
YoY Change -8.7% -221.05%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $3.271M $55.51M
YoY Change -94.11% 14.24%
NET CHANGE
Cash From Operating Activities $6.298M $3.624M
Cash From Investing Activities -$2.715M -$48.99M
Cash From Financing Activities $3.271M $55.51M
Net Change In Cash $6.854M $10.15M
YoY Change -32.46% -68.27%
FREE CASH FLOW
Cash From Operating Activities $6.298M $3.624M
Capital Expenditures -$620.0K -$320.0K
Free Cash Flow $6.918M $3.944M
YoY Change 75.41% -22.51%

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183135000 USD
CY2019Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Face Amount Liability
FairValueDisclosureOffbalanceSheetRisksFaceAmountLiability
156857000 USD
CY2018Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
202000 USD
CY2019Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
268000 USD
CY2018Q4 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
138942000 USD
CY2019Q1 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
144631000 USD
CY2018Q4 us-gaap Federal Reserve Bank Stock
FederalReserveBankStock
18862000 USD
CY2019Q1 us-gaap Federal Reserve Bank Stock
FederalReserveBankStock
15725000 USD
CY2019Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
56000 USD
CY2019Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
6006000 USD
CY2019Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
6000000 USD
CY2019Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
6006000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
10018000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
8494000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
322000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
321000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
320000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
318000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
243000 USD
CY2019Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
4012000 USD
CY2019Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
20000 USD
CY2019Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
5960000 USD
CY2019Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
6000000 USD
CY2019Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
65000 USD
CY2019Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0373
CY2019Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P28Y
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
11294000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
11564000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
2543000 USD
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
2228000 USD
CY2018Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1362646000 USD
CY2019Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1363417000 USD
CY2018Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
21247000 USD
CY2019Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
20107000 USD
CY2018Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
9599000 USD
CY2019Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
8836000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
1274000 USD
CY2019Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
1268000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1355315000 USD
CY2019Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1360031000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
15298000 USD
CY2019Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
14526000 USD
CY2018Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-9000 USD
CY2019Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
13000 USD
CY2018Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
255000 USD
CY2019Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
316000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
17104000 USD
CY2019Q1 us-gaap Goodwill
Goodwill
17104000 USD
CY2019Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
141762000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
14787000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
20677000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
113000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
60000 USD
CY2018Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
28000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
93000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
21247000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
20107000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
2543000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
2228000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
21247000 USD
CY2019Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
20106000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
6333000 USD
CY2019Q1 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
6934000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
6333000 USD
CY2019Q1 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
6934000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
14914000 USD
CY2019Q1 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
13173000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
14914000 USD
CY2019Q1 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
13172000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3797000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4758000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
589000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
812000 USD
CY2018Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
500000 USD
CY2019Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2018Q1 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
8762000 USD
CY2019Q1 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
8998000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
561000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
338000 USD
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
170000 USD
CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-499000 USD
CY2019Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1162000 USD
CY2019Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1091000 USD
CY2018Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
13201000 USD
CY2019Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
16434000 USD
CY2018Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
12193000 USD
CY2019Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
14869000 USD
CY2018Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
899089000 USD
CY2019Q1 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
987404000 USD
CY2018Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
42417000 USD
CY2019Q1 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
42385000 USD
CY2018Q1 us-gaap Interest Expense
InterestExpense
2048000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
3756000 USD
CY2018Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1222000 USD
CY2019Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
2300000 USD
CY2018Q1 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
602000 USD
CY2019Q1 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
851000 USD
CY2018Q1 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
224000 USD
CY2019Q1 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
605000 USD
CY2018Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
10993000 USD
CY2019Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
12318000 USD
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
11153000 USD
CY2019Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
12678000 USD
CY2018Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
241000 USD
CY2019Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
174000 USD
CY2018Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
546000 USD
CY2019Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
934000 USD
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
1757000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
3628000 USD
CY2018Q4 us-gaap Interest Receivable
InterestReceivable
5334000 USD
CY2019Q1 us-gaap Interest Receivable
InterestReceivable
5542000 USD
CY2018Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
5048000 USD
CY2019Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
5501000 USD
CY2018Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
130000 USD
CY2019Q1 us-gaap Lease Cost
LeaseCost
210000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5736000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3969000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
360000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
385000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
378000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
370000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
274000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1495000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
1541227000 USD
CY2019Q1 us-gaap Liabilities
Liabilities
1557672000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1684771000 USD
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1704708000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
12858000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
12836000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13837000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13792000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-864000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-946000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1383893000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1383524000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1384757000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1384470000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1370920000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1370678000 USD
CY2018Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
2929000 USD
CY2019Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
1787000 USD
CY2018Q1 us-gaap Marketing Expense
MarketingExpense
251000 USD
CY2019Q1 us-gaap Marketing Expense
MarketingExpense
102000 USD
CY2018Q4 us-gaap Minority Interest
MinorityInterest
8000 USD
CY2019Q1 us-gaap Minority Interest
MinorityInterest
10000 USD
CY2018Q4 us-gaap Mortgage Loans In Process Of Foreclosure Amount
MortgageLoansInProcessOfForeclosureAmount
167000 USD
CY2019Q1 us-gaap Mortgage Loans In Process Of Foreclosure Amount
MortgageLoansInProcessOfForeclosureAmount
189000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
55510000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3271000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48986000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2715000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3624000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6298000 USD
CY2018Q1 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
45189000 USD
CY2019Q1 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
88315000 USD
CY2018Q1 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
945000 USD
CY2019Q1 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
843000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4239000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4300000 USD
CY2019Q1 us-gaap Other Assets
OtherAssets
5000000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
3209000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
3944000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000 USD
CY2018Q4 us-gaap Noninterest Bearing Deposit Liabilities Domestic
NoninterestBearingDepositLiabilitiesDomestic
320814000 USD
CY2019Q1 us-gaap Noninterest Bearing Deposit Liabilities Domestic
NoninterestBearingDepositLiabilitiesDomestic
321657000 USD
CY2018Q1 us-gaap Noninterest Expense
NoninterestExpense
9277000 USD
CY2019Q1 us-gaap Noninterest Expense
NoninterestExpense
9814000 USD
CY2018Q1 us-gaap Noninterest Income
NoninterestIncome
2081000 USD
CY2019Q1 us-gaap Noninterest Income
NoninterestIncome
2254000 USD
CY2018Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
349000 USD
CY2019Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
375000 USD
CY2018Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
1342342000 USD
CY2019Q1 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
1347185000 USD
CY2018Q1 us-gaap Occupancy Net
OccupancyNet
741000 USD
CY2019Q1 us-gaap Occupancy Net
OccupancyNet
779000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
88000 USD
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4241000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4300000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0349
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P18Y3M18D
CY2018Q4 us-gaap Other Assets
OtherAssets
4260000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-1461000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
1984000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-306000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
417000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1155000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1567000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1115000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1594000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-42000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-47000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-8000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-10000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
-9000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
13000 USD
CY2018Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
386000 USD
CY2019Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
691000 USD
CY2018Q1 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
221000 USD
CY2019Q1 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
457000 USD
CY2019Q1 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
15000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
23000 USD
CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
13367000 USD
CY2019Q1 us-gaap Other Liabilities
OtherLiabilities
13962000 USD
CY2018Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1300000 USD
CY2019Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1319000 USD
CY2018Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0 USD
CY2019Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
2204000 USD
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
2205000 USD
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
12935000 USD
CY2019Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
12962000 USD
CY2018Q1 us-gaap Payments To Acquire Life Insurance Policies
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27000 USD
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CY2019Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued ASU 2016-13, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments</font><font style="font-family:inherit;font-size:10pt;">, which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management&#8217;s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be effected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. ASU 2016-13 is effective for annual and interim periods beginning after December 15, 2019, and early adoption is permitted for annual and interim periods beginning after December 15, 2018. With certain exceptions, transition to the new requirements will be through a cumulative effect adjustment to opening retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We expect to recognize a one-time cumulative effect adjustment to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of the new guidance on the consolidated financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU 2017-04, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Test for Goodwill Impairment</font><font style="font-family:inherit;font-size:10pt;">. To simplify the subsequent measurement of goodwill, the FASB eliminated Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting units fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. A public business entity that is a U.S. Securities and Exchange Commission (SEC) filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. A public business entity that is not an SEC filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2020. All other entities, including not-for-profit entities, that are adopting the amendments in this Update should do so for their annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2021. This Update is not expected to have a significant impact on the Company&#8217;s financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement (Topic 820): Disclosure Framework - Changes the Disclosure Requirements for Fair Value Measurements</font><font style="font-family:inherit;font-size:10pt;">. The Update removes the requirement to disclose the amount of and reasons for transfers between Level I and Level II of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level III fair value measurements. The Update requires disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level III fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level III fair value measurements. This Update is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. This Update is not expected to have a significant impact on the Company&#8217;s financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-14, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation - Retirement Benefits (Topic 715-20).</font><font style="font-family:inherit;font-size:10pt;"> This Update amends ASC 715 to add, remove and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The Update eliminates the requirement to disclose the amounts in accumulated other comprehensive income expected to be recognized as part of net periodic benefit cost over the next year. The Update also removes the disclosure requirements for the effects of a one-percentage-point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost and the benefit obligation for postretirement health care benefits. This Update is effective for public business entities for fiscal years ending after December 15, 2020, and must be applied on a retrospective basis. For all other entities, this Update is effective for fiscal years ending after December 15, 2021. This Update is not expected to have a significant impact on the Company&#8217;s financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40).</font><font style="font-family:inherit;font-size:10pt;"> This Update addresses customers&#8217; accounting for implementation costs incurred in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This Update is effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The amendments in this Update can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. This Update is not expected to have a significant impact on the Company&#8217;s financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In October 2018, the FASB issued ASU 2018-16</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">, Derivatives and Hedging (Topic 815)</font><font style="font-family:inherit;font-size:10pt;">. The amendments in this Update permit use of the Overnight Index Swap (OIS) rate based on the Secured Overnight Financing Rate (SOFR) as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the interest rates on direct Treasury obligations of the U.S. government, the London Interbank Offered Rate (LIBOR) swap rate, the OIS rate based on the Fed Funds Effective Rate, and the Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Rate. For entities that have not already adopted Update 2017-12, the amendments in this Update are required to be adopted concurrently with the amendments in Update 2017-12. For public business entities that already have adopted the amendments in Update 2017-12, the amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities that already have adopted the amendments in Update 2017-12, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted in any interim period upon issuance of this Update if an entity already has adopted Update 2017-12. This Update is not expected to have a significant impact on the Company&#8217;s financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2018, the FASB issued ASU 018-18, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Collaborative Arrangements (Topic 808)</font><font style="font-family:inherit;font-size:10pt;">, which made the following targeted improvements to generally accepted accounting principles (GAAP) for collaborative arrangements (1) clarified that certain transactions between collaborative arrangement participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant is a customer in the context of a unit of account, (2) add unit-of-account guidance in Topic 808 to align with the guidance in Topic 606 (that is, a distinct good or service) when an entity is assessing whether the collaborative arrangement or a part of the arrangement is within the scope of Topic 606, and (3) require that in a transaction with a collaborative arrangement participant that is not directly related to sales to third parties, presenting the transaction together with revenue recognized under Topic 606 is precluded if the collaborative arrangement participant is not a customer. </font><font style="font-family:inherit;font-size:10pt;color:#252525;">For public business entities, the amendments</font><font style="font-family:inherit;font-size:10pt;"> in this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. This Update is not expected to have a significant impact on the Company&#8217;s financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2019, the FASB issued ASU 2019-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases (Topic 842): Codification Improvements, </font><font style="font-family:inherit;font-size:10pt;">which addressed issues lessors sometimes encounter. Specifically addressed in this Update were issues related to (1) determining the fair value of the underlying asset by the lessor that are not manufacturers or dealers (generally financial institutions and captive finance companies), and 2) lessors that are depository and lending institutions should classify principal and payments received under sales-type and direct financing leases within investing activities in the cash flow statement. The ASU also exempts both lessees and lessors from having to provide the interim disclosures required by ASC 250-10-50-3 in the fiscal year in which a company adopts the new leases standard. The amendments addressing the two lessor accounting issues are effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. For all other entities, the effective date is for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. This Update is not expected to have a significant impact on the Company&#8217;s financial statements.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2019, the FASB issued ASU 2019-04, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Codification Improvements to Topic 326, Financial Instruments &#8211; Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, w</font><font style="font-family:inherit;font-size:10pt;">hich affects a variety of topics in the Codification and applies to all reporting entities within the scope of the affected accounting guidance. The Company is currently evaluating the impact the adoption of the standard will have on the Company&#8217;s financial position or results of operations.</font></div></div>

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