As Reported Financial Statements

NASDAQ: CVLY
$ 22.16$ -0.09 0.4 %

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q2 YTD 10-Q 6/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q2 YTD 10-Q 6/30/2019 USD

Cash flows from operating activities

Net income 11,135 13,102 12,004 19,542 8,950

Adjustments to reconcile net income to net cash provided by operations

Depreciation/amortization 2,266 2,343 2,357 2,423 1,309
Net amortization of premiums on securities 1,042 912 667 422 132
Amortization of deferred loan origination fees and costs (835) (1,049) (1,640) (1,554) (630)
Amortization of operating lease right of use assets NA NA NA NA 334
Provision for loan losses 3,500 3,000 4,175 2,700 2,250
Recovery of foreclosed real estate (622) (31) (47) 0 NA
Deferred income tax (benefit) expense 32 (1,021) 3,287 (34) NA
Increase in bank owned life insurance (694) (861) (1,028) (972) (659)
Originations of mortgage loans held for sale (31,821) (42,260) (39,687) (35,537) (16,807)
Originations of SBA loans held for sale 0 (1,400) (5,316) (13,932) (5,430)
Proceeds from sales of mortgage loans held for sale 32,388 42,191 40,203 36,602 15,835
Proceeds from sales of SBA loans held for sale 0 1,117 5,416 11,781 2,311
Gain on sales of mortgage loans held for sale NA (894) (1,039) (905) (355)
Gain on sales of SBA loans held for sale (667) (76) (395) (806) (182)
Gain on disposal of premises and equipment 105 4 (9) (11) (15)
Loss on sales of securities, available-for-sale (492) (194) (79) 0 3
Loss on sales of foreclosed real estate 9 (18) (11) 2 3
Stock-based compensation 358 525 752 697 253
Decrease in interest receivable (301) (445) (520) (584) 334
(Increase) decrease in other assets (160) 1,203 (1,593) (423) (476)
Increase in interest payable (9) (18) 176 210 47
Increase in other liabilities (1,232) 2,349 (984) 1,329 1,087
Net cash provided by operating activities 14,002 18,479 16,689 20,950 8,294

Cash flows from investing activities

Purchases of securities, available-for-sale (57,136) (47,665) (13,546) (22,663) (21,669)
Maturities, repayments and calls of securities, available-for-sale 46,108 48,999 43,900 29,635 11,386
Sales of securities, available-for-sale 9,614 12,903 5,692 0 9,777
Redemption (purchase) of restricted investment in bank stock (1,229) (1,898) 615 389 NA
Proceeds from acquisition, net 21,091 NA NA NA NA
Proceeds from acquired receivables of sold investment settlements 15,256 NA NA NA NA
Net decrease (increase) in restricted investment in bank stock NA NA NA NA 1,371
Net decrease (increase) in loans made to customers (127,056) (147,541) (127,509) (86,316) 12,212
Purchases of premises and equipment (5,957) (2,314) (2,157) (2,754) (2,270)
Investment in bank owned life insurance (7) (6,994) (4,007) (7) (6,600)
Proceeds from sales of fixed assets 51 NA NA NA NA
Proceeds from bank owned life insurance 0 196 0 0 NA
Proceeds from sales of foreclosed real estate 289 576 454 168 16
Net cash provided by (used in) investing activities (98,976) (143,738) (96,558) (81,548) 4,223

Cash flows from financing activities

Net (decrease) increase in demand and savings deposits 87,651 140,938 100,994 92,018 (18,729)
Net increase in time deposits (69,020) 29,090 19,336 18,755 56,544
Net increase (decrease) increase in short-term borrowings 32,326 (17,873) (36,142) (13,473) 2,964
Proceeds from issuance of long-term debt 35,000 40,000 20,000 30,000 0
Repayment of long-term debt (5,096) (35,000) (15,000) (45,000) (20,000)
Tax benefit on vested restricted stock 13 NA NA NA NA
Cash dividends paid to preferred shareholders (120) (46) 0 0 NA
Cash dividends paid to shareholders (2,991) (4,144) (4,559) (5,539) (3,025)
Redemption of preferred stock 0 (12,000) 0 0 NA
Treasury stock reissued NA NA NA NA 88
Treasury stock purchased NA NA NA NA (762)
Issuance of stock 33,614 853 751 1,114 201
Cash paid in lieu of fractional shares (12) (12) (19) (19) NA
Net cash provided by financing activities 111,365 141,806 85,361 77,856 17,281
Net increase in cash and cash equivalents 26,391 16,547 5,492 17,258 29,798
Cash and cash equivalents at beginning of year 31,094 57,485 74,032 79,524 96,782
Cash and cash equivalents at end of period 57,485 74,032 79,524 96,782 126,580
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.