2019 Q4 Form 10-Q Financial Statement

#000071456219000070 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $39.60M $31.38M
YoY Change 26.2% 8.92%
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 $1.710M $1.090M $1.050M
YoY Change 66.02% 3.81% -2.78%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $5.176M $5.596M $2.548M
YoY Change 74.04% 119.62% 50.15%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $18.49M $14.84M $13.97M
YoY Change 39.44% 6.21% 14.7%
Income Tax $4.130M $2.579M $2.656M
% Of Pretax Income 22.34% 17.38% 19.01%
Net Earnings $14.36M $12.26M $11.31M
YoY Change 29.92% 8.34% 28.64%
Net Earnings / Revenue 30.96% 36.06%
Basic Earnings Per Share
Diluted Earnings Per Share $1.045M $933.0K $922.5K
COMMON SHARES
Basic Shares Outstanding 13.71M shares 12.29M shares 12.26M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $127.4M $80.19M $50.02M
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 $62.58M $70.59M $46.99M
YoY Change 34.42% 50.24% -0.64%
Goodwill $78.59M $75.42M $34.36M
YoY Change 128.76% 119.52% 0.0%
Intangibles $10.64M $11.26M $1.310M
YoY Change 789.14% 759.62% -24.89%
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 $4.023B $3.988B $2.981B
YoY Change 33.72% 33.79% -0.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $80.10M $90.90M $58.70M
YoY Change 14.92% 54.86% 149.79%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $80.10M $90.90M $58.70M
YoY Change 14.92% 54.86% 149.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $79.20M $64.60M $52.40M
YoY Change 32.89% 23.28% -15.35%
Total Long-Term Liabilities $79.20M $64.60M $52.40M
YoY Change 32.89% 23.28% -15.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.10M $90.90M $58.70M
Total Long-Term Liabilities $79.20M $64.60M $52.40M
Total Liabilities $3.466B $3.432B $2.553B
YoY Change 35.06% 34.4% 0.57%
SHAREHOLDERS EQUITY
Retained Earnings $492.1M $484.8M $451.9M
YoY Change 7.74% 7.28% 2.19%
Common Stock $141.7M $141.1M $78.01M
YoY Change 80.28% 80.86% 1.47%
Preferred Stock
YoY Change
Treasury Stock (at cost) $68.65M $69.47M $69.84M
YoY Change -0.74% -0.52% -0.39%
Treasury Stock Shares 2.314M shares 2.342M shares 2.357M shares
Shareholders Equity $557.6M $556.6M $427.8M
YoY Change
Total Liabilities & Shareholders Equity $4.023B $3.988B $2.981B
YoY Change 33.72% 33.79% -0.05%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $14.36M $12.26M $11.31M
YoY Change 29.92% 8.34% 28.64%
Depreciation, Depletion And Amortization $1.710M $1.090M $1.050M
YoY Change 66.02% 3.81% -2.78%
Cash From Operating Activities $10.76M $11.33M $19.04M
YoY Change -32.45% -40.49% -12.94%
INVESTING ACTIVITIES
Capital Expenditures $440.0K -$630.0K -$540.0K
YoY Change -189.8% 16.67% -1450.0%
Acquisitions
YoY Change
Other Investing Activities -$5.440M $18.26M -$30.98M
YoY Change -264.85% -158.94% 320.92%
Cash From Investing Activities -$5.010M $17.62M -$31.53M
YoY Change -278.29% -155.88% 330.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 41.47M -9.630M 12.41M
YoY Change 633.98% -177.6% -239.13%
NET CHANGE
Cash From Operating Activities 10.76M 11.33M 19.04M
Cash From Investing Activities -5.010M 17.62M -31.53M
Cash From Financing Activities 41.47M -9.630M 12.41M
Net Change In Cash 47.22M 19.32M -80.00K
YoY Change 93.6% -24250.0% -101.42%
FREE CASH FLOW
Cash From Operating Activities $10.76M $11.33M $19.04M
Capital Expenditures $440.0K -$630.0K -$540.0K
Free Cash Flow $10.32M $11.96M $19.58M
YoY Change -37.15% -38.92% -10.31%

Facts In Submission

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DepreciationAmortizationAndAccretionNet
3121000 USD
us-gaap Dividends Common Stock Cash
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6250000 USD
us-gaap Dividends Common Stock Cash
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6390000 USD
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.92
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
2.90
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.93
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
2.74
CY2018Q3 us-gaap Equipment Expense
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1673000 USD
us-gaap Equipment Expense
EquipmentExpense
5016000 USD
CY2019Q3 us-gaap Equipment Expense
EquipmentExpense
2117000 USD
us-gaap Equipment Expense
EquipmentExpense
5685000 USD
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
-2840000 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
315000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
476000 USD
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 USD
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
9052000 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
369000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
700000 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
18285000 USD
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
6393000 USD
CY2019Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
6223000 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
6169000 USD
CY2018Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
223000 USD
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
673000 USD
CY2019Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
155000 USD
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
494000 USD
CY2018Q4 us-gaap Federal Funds Purchased
FederalFundsPurchased
43250000 USD
CY2019Q3 us-gaap Federal Funds Purchased
FederalFundsPurchased
11126000 USD
CY2018Q4 us-gaap Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
69656000 USD
CY2019Q3 us-gaap Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
90852000 USD
CY2018Q4 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
0 USD
CY2019Q3 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
55948000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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19699000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
19766000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
737000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
33000 USD
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1108000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
2786000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1251000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
3380000 USD
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2348000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
6692000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
3202000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
7217000 USD
CY2018Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1949197000 USD
CY2019Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
2658752000 USD
CY2018Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
10516000 USD
CY2019Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
7079000 USD
CY2017Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
7034000 USD
CY2018Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
6819000 USD
CY2018Q3 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
4847000 USD
CY2018Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
4806000 USD
CY2019Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
4541000 USD
CY2019Q3 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
4127000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1944526000 USD
CY2019Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
2660354000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
16682000 USD
CY2019Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
15737000 USD
CY2018Q3 us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown
7000 USD
us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown
99000 USD
CY2019Q3 us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown
35000 USD
us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown
97000 USD
CY2018Q3 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
618000 USD
us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
1458000 USD
CY2019Q3 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
865000 USD
us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
1781000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-101000 USD
CY2018Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
10707000 USD
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-37000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
34355000 USD
CY2019Q3 us-gaap Goodwill
Goodwill
75417000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
11269000 USD
CY2018 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
11118000 USD
CY2019Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
7693000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
9089000 USD
CY2018Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
0 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
0 USD
CY2018 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
0 USD
CY2019Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
0 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
0 USD
CY2018Q3 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0 USD
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0 USD
CY2018 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0 USD
CY2019Q3 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0 USD
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
0 USD
CY2018Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
10516000 USD
CY2019Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
7079000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
737000 USD
CY2019Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
33000 USD
CY2018Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
10516000 USD
CY2019Q3 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
7609000 USD
CY2018Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
1639000 USD
CY2019Q3 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
120000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13969000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
44468000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14836000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
42508000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2656000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8941000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2579000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8000000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
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us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
26903000 USD
us-gaap Increase Decrease In Federal Funds Sold
IncreaseDecreaseInFederalFundsSold
-7600000 USD
us-gaap Increase Decrease In Federal Funds Sold
IncreaseDecreaseInFederalFundsSold
0 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1197000 USD
CY2019Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
11261000 USD
CY2018Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
31375000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
93655000 USD
CY2019Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
39595000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
105470000 USD
CY2018Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
25581000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
73982000 USD
CY2019Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
33363000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
87650000 USD
CY2019Q3 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
2529315000 USD
CY2018Q4 us-gaap Interest Bearing Domestic Deposit Certificates Of Deposits
InterestBearingDomesticDepositCertificatesOfDeposits
42284000 USD
CY2019Q3 us-gaap Interest Bearing Domestic Deposit Certificates Of Deposits
InterestBearingDomesticDepositCertificatesOfDeposits
130270000 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
2548000 USD
us-gaap Interest Expense
InterestExpense
6671000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
5596000 USD
us-gaap Interest Expense
InterestExpense
12293000 USD
CY2018Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
2365000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
6254000 USD
CY2019Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
5069000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
11202000 USD
CY2018Q3 us-gaap Interest Expense Other
InterestExpenseOther
16000 USD
us-gaap Interest Expense Other
InterestExpenseOther
63000 USD
CY2019Q3 us-gaap Interest Expense Other
InterestExpenseOther
222000 USD
us-gaap Interest Expense Other
InterestExpenseOther
305000 USD
CY2018Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
167000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
354000 USD
CY2019Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
305000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
786000 USD
CY2018Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
27357000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
82686000 USD
CY2019Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
32499000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
89977000 USD
CY2018Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
28827000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
86984000 USD
CY2019Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
33999000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
93177000 USD
CY2018Q3 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
1873000 USD
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
5573000 USD
CY2019Q3 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
1959000 USD
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
5699000 USD
CY2018Q3 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3601000 USD
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
13141000 USD
CY2019Q3 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3907000 USD
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
11104000 USD
CY2018Q4 us-gaap Interest Receivable
InterestReceivable
13970000 USD
CY2019Q3 us-gaap Interest Receivable
InterestReceivable
18735000 USD
CY2018Q4 us-gaap Interestbearing Domestic Deposit Other
InterestbearingDomesticDepositOther
1962520000 USD
CY2018Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
12485000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
38028000 USD
CY2019Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
14031000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
39332000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
2566017000 USD
CY2019Q3 us-gaap Liabilities
Liabilities
3431537000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3008718000 USD
CY2019Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3988119000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
19909000 USD
CY2018Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
20071000 USD
CY2018Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
20301000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
20436000 USD
CY2019Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
20250000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
19799000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-2925000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-3671000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1951063000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
2664805000 USD
CY2017Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount Covered
LoansAndLeasesReceivableGrossCarryingAmountCovered
1896000 USD
CY2018Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount Covered
LoansAndLeasesReceivableGrossCarryingAmountCovered
1598000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount Covered
LoansAndLeasesReceivableGrossCarryingAmountCovered
1530000 USD
CY2019Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount Covered
LoansAndLeasesReceivableGrossCarryingAmountCovered
1458000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1933552000 USD
CY2019Q3 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
2648677000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-28485000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5474000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37125000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27861000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
41521000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39140000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
11313000 USD
us-gaap Net Income Loss
NetIncomeLoss
35527000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
12257000 USD
us-gaap Net Income Loss
NetIncomeLoss
34508000 USD
CY2018Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
431923000 USD
CY2019Q3 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
560537000 USD
CY2018Q3 us-gaap Noninterest Expense
NoninterestExpense
22297000 USD
us-gaap Noninterest Expense
NoninterestExpense
68191000 USD
CY2019Q3 us-gaap Noninterest Expense
NoninterestExpense
27409000 USD
us-gaap Noninterest Expense
NoninterestExpense
74594000 USD
CY2018Q3 us-gaap Noninterest Income
NoninterestIncome
8909000 USD
us-gaap Noninterest Income
NoninterestIncome
29973000 USD
CY2019Q3 us-gaap Noninterest Income
NoninterestIncome
9746000 USD
us-gaap Noninterest Income
NoninterestIncome
27125000 USD
CY2018Q3 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
897000 USD
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
1984000 USD
CY2019Q3 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
599000 USD
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
2841000 USD
CY2018Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
1166352000 USD
CY2019Q3 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
1583002000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2018Q3 us-gaap Occupancy Net
OccupancyNet
1894000 USD
us-gaap Occupancy Net
OccupancyNet
5308000 USD
CY2019Q3 us-gaap Occupancy Net
OccupancyNet
1804000 USD
us-gaap Occupancy Net
OccupancyNet
5432000 USD
CY2018Q4 us-gaap Other Assets
OtherAssets
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CY2019Q3 us-gaap Other Assets
OtherAssets
28149000 USD
CY2018Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
-3702000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
-16083000 USD
CY2019Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
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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;text-decoration:underline;">New accounting standards</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounting Pronouncements Adopted:</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 February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases. The FASB issued this ASU to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases under current U.S. GAAP and disclosing key information about leasing arrangements. The new standard was adopted by the Corporation on January 1, 2019. ASU 2016-02 provides for a modified retrospective transition approach requiring lessees to recognize and measure leases on the balance sheet at the beginning of either the earliest period presented or as of the beginning of the period of adoption.&#160;The Corporation elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and did not restate comparative periods.&#160;Adoption of ASU 2016-02 resulted in the recognition of lease liabilities totaling $7 million and the recognition of right-of-use assets totaling $7 million as of the date of adoption. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. The initial balance sheet gross up upon adoption was primarily related to operating leases of certain real estate properties. The Corporation has no finance leases or material subleases or leasing arrangements for which it is the lessor of property or equipment. The Corporation has elected to apply the package of practical expedients allowed by the new standard under which the Corporation need not reassess whether any expired or existing contracts are leases or contain leases, the Corporation need not reassess the lease classification for any expired or existing lease, and the Corporation need not reassess initial direct costs for any existing leases. Adoption of ASU 2016-02 did not materially change the Corporation&#8217;s recognition of lease expense. See Note 11 - Leases for additional disclosures related to leases.</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 July 2018, the FASB issued ASU No. 2018-11,&#160;Leases - Targeted Improvements,&#160;to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU No. 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2019 for the Corporation). The Corporation elected both transition options on January 1, 2019. ASU 2018-11 did not have a material impact on the Corporation&#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:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Recent Accounting Pronouncements:</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 June 2016 ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), was issued and requires entities to use a current expected credit loss ("CECL") model which is a new impairment model based on expected losses rather than incurred losses. Under this model an entity would recognize an impairment allowance equal to its current estimate of all contractual cash flows that the entity does not expect to collect from financial assets measured at amortized cost. The entity's estimate would consider relevant information about past events, current conditions, and reasonable and supportable forecasts, which will result in recognition of lifetime expected credit losses upon loan origination. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted for annual reporting periods beginning after December 15, 2018. Management initiated an implementation committee to assist in assessing data and system needs for the new standard. Management has loaded a model and is planning to run parallel calculations in the fourth quarter. Management anticipates the effect will be an increase to the allowance for loan losses upon adoption, however, the overall increase is uncertain at this time.</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 No. 2017-04, Simplifying the Test for Goodwill Impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit&#8217;s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. ASU No. 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019, applied prospectively. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Corporation is assessing ASU 2017-04 but does not expect a significant impact on its accounting and disclosures.</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 August 2018, the FASB issued ASU No. 2018-13,&#160;Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;</font><font style="font-family:inherit;font-size:10pt;">This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to elect early adoption the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. As ASU No. 2018-13 only revises disclosure requirements, it will not have a material impact on the Corporation&#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 August 2018, the FASB issued ASU No. 2018-14,&#160;Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans.</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;</font><font style="font-family:inherit;font-size:10pt;">This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020; early adoption is permitted. As ASU 2018-14 only revises disclosure requirements, it will not have a material impact on the Corporation&#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 September 2018, the FASB issued ASU No. 2018-15,&#160;Customer&#8217;s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.&#160;This ASU requires an entity in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs should be presented in the same line item on the balance sheet as amounts prepaid for the hosted service, if any (generally as an &#8220;other asset&#8221;). The capitalized costs will be amortized over the term of the hosting arrangement, with the amortization expense being presented in the same income statement line item as the fees paid for the hosted service. ASU 2018-15 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. ASU 2018-15 will not have a material impact on the Corporation&#8217;s financial statements.</font></div></div>

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