As Reported Financial Statements

NASDAQ: CVLY
$ 21.08$ -0.02 0.09 %

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

Cash flows from operating activities

Net income 11,135 13,102 12,004 19,542 4,091

Adjustments to reconcile net income to net cash provided by operations

Depreciation/amortization 2,266 2,343 2,357 2,423 651
Net amortization of premiums on securities 1,042 912 667 422 65
Amortization of deferred loan origination fees and costs (835) (1,049) (1,640) (1,554) (229)
Amortization of operating lease right of use assets NA NA NA NA 166
Provision for loan losses 3,500 3,000 4,175 2,700 1,050
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) (367)
Originations of mortgage loans held for sale (31,821) (42,260) (39,687) (35,537) (7,627)
Originations of SBA loans held for sale 0 (1,400) (5,316) (13,932) (1,595)
Proceeds from sales of mortgage loans held for sale 32,388 42,191 40,203 36,602 7,948
Proceeds from sales of SBA loans held for sale 0 1,117 5,416 11,781 791
Gain on sales of mortgage loans held for sale NA (894) (1,039) (905) (165)
Gain on sales of SBA loans held for sale (667) (76) (395) (806) (53)
Gain on disposal of premises and equipment 105 4 (9) (11) (11)
Loss on sales of securities, available-for-sale (492) (194) (79) 0 4
Net loss (gain) on sales of foreclosed real estate 9 (18) (11) 2 NA
Stock-based compensation 358 525 752 697 135
Decrease in interest receivable (301) (445) (520) (584) 370
(Increase) in other assets (160) 1,203 (1,593) (423) (647)
Increase (decrease) in interest payable (9) (18) 176 210 142
Increase in other liabilities (1,232) 2,349 (984) 1,329 539
Net cash provided by operating activities 14,002 18,479 16,689 20,950 5,258

Cash flows from investing activities

Purchases of securities, available-for-sale (57,136) (47,665) (13,546) (22,663) (8,448)
Maturities, repayments and calls of securities, available-for-sale 46,108 48,999 43,900 29,635 5,561
Sales of securities, available-for-sale 9,614 12,903 5,692 0 6,017
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 in restricted investment in bank stock NA NA NA NA 600
Net increase in loans made to customers (127,056) (147,541) (127,509) (86,316) (9,166)
Purchases of premises and equipment (5,957) (2,314) (2,157) (2,754) (1,759)
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 0
Net cash used in investing activities (98,976) (143,738) (96,558) (81,548) (13,795)

Cash flows from financing activities

Net (decrease) increase in demand and savings deposits 87,651 140,938 100,994 92,018 (20,669)
Net increase (decrease) in time deposits (69,020) 29,090 19,336 18,755 28,266
Net (decrease) increase in short-term borrowings 32,326 (17,873) (36,142) (13,473) (192)
Proceeds from issuance of long-term debt 35,000 40,000 20,000 30,000 NA
Repayment of long-term debt (5,096) (35,000) (15,000) (45,000) 0
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) (1,512)
Redemption of preferred stock 0 (12,000) 0 0 NA
Issuance of stock 33,614 853 751 1,114 147
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 6,040
Net (decrease) in cash and cash equivalents 26,391 16,547 5,492 17,258 (2,497)
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 94,285
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.