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 Q2 YTD 6/30/2019 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 Q2 YTD 6/30/2019 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 5,917 5,521 3,846 8,220 NA

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization 659 909 938 1,052 NA
Purchase accounting loan discount accretion (1,495) (450) (891) (1,233) NA
Deferred income taxes 859 793 2,660 1,740 NA
Provision (credit) for loan losses 382 (750) (350) 450 NA
Gain on sale of loans (586) (618) (1,843) (4,675) NA
Net securities losses (gains) (116) (158) 2 6 NA
Change in fair value of mortgage servicing rights (263) 12 31 (26) NA
Loss (gain) on sale or write-down of other real estate owned 183 38 (22) 59 NA
Increase in cash surrender value of life insurance (427) (393) (397) (395) NA
Net amortization of security premiums and discounts 925 885 848 792 NA
Stock option expense 0 0 100 165 NA
Deferred compensation expense 76 85 90 138 NA
Loss on disposal or write-down of premises and equipment 49 176 0 0 NA
Proceeds from sale of loans held for sale 28,767 27,714 63,495 175,288 NA
Originations of loans held for sale (28,433) (27,369) (59,430) (176,098) NA
Increase in other assets 1,613 (354) (519) (944) NA
Increase (decrease) in other liabilities (1,223) 572 (2,698) 610 NA
CASH FLOWS FROM OPERATING ACTIVITIES 6,887 6,613 5,860 5,149 1,638

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from sales, calls and maturities of available-for-sale securities 28,437 11,558 38,087 21,282 26,491
Proceeds from maturities of available-for-sale securities, including paydowns on mortgage-backed securities 30,797 30,106 16,591 16,056 NA
Purchases of available-for-sale securities (36,534) (53,096) (33,627) (38,107) (29,510)
Net proceeds from certificates of deposits 498 498 1,494 0 NA
Proceeds from sales of premises and equipment 0 315 0 0 NA
Acquisition of Benchmark Bancorp, Inc., net of cash received 0 0 (24,660) (3,413) NA
Proceeds from sale of other real estate owned 552 278 823 62 68
Net increase in loans and leases 7,306 (23,009) (34,311) (53,797) (10,585)
Bank owned life insurance premium 0 (124) (80) 0 NA
Purchases of premises and equipment (312) (2,399) (4,182) (525) (183)
Net cash used in investing activities 30,744 (35,873) (39,865) (58,442) (13,719)

CASH FLOWS FROM FINANCING ACTIVITIES

Net increase in deposits (46,914) 6,279 10,405 35,883 22,962
Proceeds from other borrowings 2,118 18,774 57,148 30,693 0
Repayments of other borrowings 0 (2,118) (18,774) (22,398) (6,193)
Purchase of treasury shares (927) (833) 0 0 NA
Proceeds from sale of treasury shares 14 18 27 39 30
Payments of deferred compensation (154) (150) (144) (155) NA
Cash dividends paid (1,200) (1,446) (1,569) (1,568) (850)
Net cash provided by financing activities (47,063) 20,524 47,093 42,494 15,949
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (9,432) (8,736) 13,088 (10,799) 3,868

CASH AND CASH EQUIVALENTS

At beginning of period 32,355 22,922 14,186 27,274 16,475
At end of period 22,922 14,186 27,274 16,475 20,343

SUPPLEMENTAL CASH FLOW DISCLOSURES

Cash paid during the period for

Interest 2,227 2,195 3,394 6,131 4,258
Federal income taxes 665 860 425 3,259 0

Non-cash operating activity

Change in deferred income taxes on net unrealized gain or loss on available-for-sale securities (8) (1,166) 382 429 NA

Non-cash investing activities

Transfer of loans to other real estate owned 372 721 241 70 0
Change in net unrealized gain or loss on available-for-sale securities (23) (3,429) 1,124 (2,045) 4,710
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.
The Union Bank Co.

105 Progressive Drive
Columbus Grove, OH 45830
(800) 837-8111
Routing Number - 041213759