Price | -0.00 | EPS | 1 | |
Shares | 10 | P/E | -0 | |
MCap | -0 | P/FCF | -0 | |
Net Debt | -190 | EBIT | 19 | |
TEV | -190 | TEV/EBIT | -10 | TTM 2019-09-30, in MM, except price, ratios |
10-Q | 2020-09-30 | Filed 2020-11-12 |
10-Q | 2020-06-30 | Filed 2020-08-13 |
10-Q | 2020-03-31 | Filed 2020-05-13 |
10-K | 2019-12-31 | Filed 2020-03-19 |
10-Q | 2019-09-30 | Filed 2019-11-08 |
10-Q | 2019-06-30 | Filed 2019-08-09 |
10-Q | 2019-03-31 | Filed 2019-05-10 |
10-K | 2018-12-31 | Filed 2019-03-15 |
10-Q | 2018-09-30 | Filed 2018-11-09 |
10-Q | 2018-06-30 | Filed 2018-08-13 |
10-Q | 2018-03-31 | Filed 2018-08-03 |
10-K | 2017-12-31 | Filed 2018-06-29 |
10-Q | 2017-09-30 | Filed 2017-11-20 |
10-Q | 2017-06-30 | Filed 2017-08-09 |
10-Q | 2017-03-31 | Filed 2017-05-11 |
10-K | 2016-12-31 | Filed 2017-03-14 |
10-Q | 2016-09-30 | Filed 2016-11-08 |
10-Q | 2016-06-30 | Filed 2016-08-08 |
10-Q | 2016-03-31 | Filed 2016-05-11 |
10-K | 2015-12-31 | Filed 2016-03-14 |
10-Q | 2015-09-30 | Filed 2015-11-10 |
10-Q | 2015-06-30 | Filed 2015-08-11 |
10-Q | 2015-03-31 | Filed 2015-05-12 |
10-K | 2014-12-31 | Filed 2015-03-17 |
10-Q | 2014-09-30 | Filed 2014-11-10 |
10-Q | 2014-06-30 | Filed 2014-08-12 |
10-Q | 2014-03-31 | Filed 2014-05-12 |
10-K | 2013-12-31 | Filed 2014-03-17 |
10-Q | 2013-09-30 | Filed 2013-11-08 |
10-Q | 2013-06-30 | Filed 2013-08-09 |
10-Q | 2013-03-31 | Filed 2013-05-09 |
10-K | 2012-12-31 | Filed 2013-03-21 |
10-Q | 2012-09-30 | Filed 2012-11-13 |
10-Q | 2012-06-30 | Filed 2012-08-13 |
10-Q | 2012-03-31 | Filed 2012-05-21 |
10-K | 2011-12-31 | Filed 2012-04-06 |
10-Q | 2011-09-30 | Filed 2011-11-14 |
8-K | 2020-11-23 | Other Events, Exhibits |
8-K | 2020-11-01 | Accountant, Exhibits |
8-K | 2020-08-24 | Other Events, Exhibits |
8-K | 2020-05-26 | |
8-K | 2020-05-18 | |
8-K | 2020-03-23 | |
8-K | 2020-02-24 | |
8-K | 2020-02-05 | |
8-K | 2020-01-24 | |
8-K | 2019-11-25 | |
8-K | 2019-08-26 | |
8-K | 2019-06-27 | |
8-K | 2019-05-28 | |
8-K | 2019-05-20 | |
8-K | 2019-03-20 | |
8-K | 2019-02-25 | |
8-K | 2018-12-26 | |
8-K | 2018-11-26 | |
8-K | 2018-10-15 | |
8-K | 2018-09-04 | |
8-K | 2018-08-27 | |
8-K | 2018-06-11 | |
8-K | 2018-05-29 | |
8-K | 2018-04-12 | |
8-K | 2018-03-26 | |
8-K | 2018-02-26 | |
8-K | 2018-02-09 | |
8-K | 2017-12-29 |
Part I. Financial Information |
Item 1. Condensed Consolidated Financial Statements (Unaudited) |
Note 1 - Nature of Business |
Note 2 - Summary of Significant Accounting Policies and Recent Accounting Pronouncements |
Note 3 - Earnings per Common Share |
Note 4 - Investment Securities |
Note 5 - Loans Held for Sale, Loans and Allowance for Loan Losses |
Note 6 - Commitments and Contingencies |
Note 7 - Regulatory Capital Requirements |
Note 8 - Off - Balance - Sheet Activities |
Note 9 - Income Taxes |
Note 10 - Fair Value Measurements |
Note 11 - Comprehensive Income (Loss) |
Note 12 - Leases |
Note 13 - Subordinated Debt |
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |
Item 4. Controls and Procedures |
Part II. Other Information |
Item 1A. Risk Factors |
Item 6. Exhibits |
EX-31.01 | bkgm-ex3101_7.htm |
EX-31.02 | bkgm-ex3102_8.htm |
EX-32.01 | bkgm-ex3201_6.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended September 30, 2020
or
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to .
Commission file number: 000-54483
BankGuam Holding Company
(Exact name of registrant as specified in its charter)
Guam | 66-0770448 |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
P.O. Box BW
Hagåtña, Guam 96932
(671) 472-5300
(Address, including Zip Code, and telephone number, including area code, of the registrant’s principal executive offices)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
None | N/A | N/A |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
| ☐ |
| Accelerated filer |
| ☐ |
Non-accelerated filer |
| ☐ |
| Smaller reporting company |
| ☒ |
Emerging growth company |
| ☐ |
|
|
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒
Securities registered pursuant to Section 12(g) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock, $0.2083 par value per share | “BKGM” | Not listed |
As of November 12, 2020, there were 9,695,283 shares outstanding
FORM 10-Q
QUARTERLY REPORT
TABLE OF CONTENTS
|
| |
3 | ||
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|
Item 1. | 3 | |
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|
|
| Condensed Consolidated Statements of Financial Condition at September 30, 2020 and December 31, 2019 | 3 |
|
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|
| 4 | |
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| 5 | |
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|
| 6 | |
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|
| 8 | |
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|
| 9 | |
|
|
|
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 35 |
|
|
|
Item 4. | 56 | |
|
| |
57 | ||
|
|
|
Item 1A. | 57 | |
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|
Item 6. | 58 | |
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59 | ||
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|
|
Cautionary Note Regarding Forward-Looking Statements
For purposes of this Quarterly Report, the terms the “Company,” “we,” “us” and “our” refer to BankGuam Holding Company and its subsidiaries. This Quarterly Report on Form 10-Q contains statements that are not historical in nature, are predictive in nature, or that depend upon or refer to future events or conditions or contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) and the Private Securities Litigation Reform Act of 1995. These include, among other things, statements regarding:
| • | Competition for loans and deposits and failure to attract or retain deposits and loans; |
| • | Local, regional, national and global economic conditions, and the impact they may have on us and our customers, and our assessment of that impact on our estimates, including the allowance for loan losses and fair value measurements; |
| • | The effects of the COVID-19 pandemic, including reduced tourism in Guam, volatility in the international and national economy and credit markets, quarantines or other travel or health-related restrictions, the length and severity of the COVID-19 pandemic and the pace of recovery following the COVID-19 pandemic; |
| • | Risks associated with concentrations in real estate related loans; |
| • | Changes in the level of nonperforming assets and charge-offs and other credit quality measures, and their impact on the adequacy of our allowance for loan losses and our provision for loan losses; |
| • | The effects of and changes in trade, monetary and fiscal policies and laws, including the interest rate policies of the Federal Open Market Committee of the Federal Reserve Board; and the anticipated elimination of the London Interbank Offered Rate (“LIBOR”) as a benchmark interest rate; |
| • | Stability of funding sources and continued availability of borrowings; |
| • | The effect of changes in laws and regulations with which the Company and Bank of Guam must comply, including any change in Federal Deposit Insurance Corporation insurance premiums; |
| • | Our ability to raise capital or incur debt on reasonable terms; |
| • | Regulatory limits on Bank of Guam’s ability to pay dividends to the Company; |
| • | The effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; |
| • | Changes in the deferred tax asset valuation allowance in future quarters; |
| • | The costs and effects of legal and regulatory developments, including resolution of legal proceedings or regulatory or other governmental inquiries, and the results of regulatory examinations or reviews; |
| • | Our ability to increase market share and control expenses; |
| • | Any interruption or security breach of our information systems resulting in failures or disruptions in customer services or confidentiality; and |
Our success in managing the risks involved in the foregoing items, as well as other statements regarding our future operations, financial condition and prospects, and business strategies.
We are not able to predict all of the factors that may affect future results. Forward-looking statements may be preceded by, followed by or include the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “is designed to” and similar expressions. We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to risks, uncertainties and assumptions about our business that could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in “Risk Factors” included in filings we make from time to time with the U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for our fiscal year ended December 31, 2019 and our Quarterly Reports on Form 10-Q. We have no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or risks, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. New information, future events or risks could cause the forward-looking statements we discuss in this Quarterly Report not to occur. You should not place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this Quarterly Report.
2
Item 1. Condensed Consolidated Financial Statements (Unaudited)
Unaudited Condensed Consolidated Statements of Financial Condition
(in Thousands, Except Par Value)
|
| September 30, 2020 |
|
| December 31, 2019 |
| ||
ASSETS |
|
|
|
|
|
|
|
|
Cash and due from banks |
| $ | 49,866 |
|
| $ | 37,870 |
|
Interest bearing deposits in banks |
|
| 248,895 |
|
|
| 93,846 |
|
Total cash and cash equivalents |
|
| 298,761 |
|
|
| 131,716 |
|
Restricted cash |
|
| 150 |
|
|
| 400 |
|
Investment in unconsolidated subsidiary |
|
| 7,609 |
|
|
| 7,443 |
|
Investment securities available-for-sale, at fair value |
|
| 526,335 |
|
|
| 377,130 |
|
Investment securities held-to-maturity, at amortized cost (Fair Value $68,256 at 9/30/2020 and $50,204 at 12/31/2019) |
|
| 67,765 |
|
|
| 49,984 |
|
Federal Home Loan Bank stock, at cost |
|
| 2,335 |
|
|
| 2,267 |
|
Loans, net of allowance for loan losses ($32,778 at 9/30/2020 and $27,870 at 12/31/2019) |
|
| 1,364,040 |
|
|
| 1,275,272 |
|
Accrued interest receivable |
|
| 7,816 |
|
|
| 5,581 |
|
Premises and equipment, net |
|
| 20,119 |
|
|
| 19,754 |
|
Other assets |
|
| 79,678 |
|
|
| 83,515 |
|
Total assets |
| $ | 2,374,608 |
|
| $ | 1,953,062 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
Non-interest bearing |
| $ | 756,166 |
|
| $ | 582,967 |
|
Interest bearing |
|
| 1,381,718 |
|
|
| 1,146,939 |
|
Total deposits |
|
| 2,137,884 |
|
|
| 1,729,906 |
|
Accrued interest payable |
|
| 73 |
|
|
| 118 |
|
Subordinated debt, net |
|
| 14,770 |
|
|
| 14,751 |
|
Other liabilities |
|
| 46,555 |
|
|
| 44,044 |
|
Total liabilities |
|
| 2,199,282 |
|
|
| 1,788,819 |
|
Commitments and contingencies (Note 6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
Common stock $0.2083 par value; 48,000 shares authorized; 9,727 and 9,704 shares issued and 9,695 and 9,672 shares outstanding at 9/30/2020 and 12/31/2019, respectively |
|
| 2,028 |
|
|
| 2,023 |
|
Preferred stock $100 par value; 300 shares authorized; 9.8 shares issued and outstanding |
|
| 980 |
|
|
| 980 |
|
Additional paid-in capital, Common stock |
|
| 24,712 |
|
|
| 24,478 |
|
Additional paid-in capital, Preferred stock |
|
| 8,803 |
|
|
| 8,803 |
|
Retained earnings |
|
| 134,777 |
|
|
| 129,576 |
|
Accumulated other comprehensive income (loss) |
|
| 4,316 |
|
|
| (1,327 | ) |
Common stock in treasury, at cost (32 shares) |
|
| (290 | ) |
|
| (290 | ) |
Total stockholders’ equity |
|
| 175,326 |
|
|
| 164,243 |
|
Total liabilities and stockholders’ equity |
| $ | 2,374,608 |
|
| $ | 1,953,062 |
|
The accompanying notes are an integral part of the condensed consolidated financial statements.
3
Unaudited Condensed Consolidated Statements of Income
(Dollar and Share Amounts in Thousands, Except Per Share Amounts)
|
| Three Months Ended September 30, |
|
| Nine Months Ended September 30, |
| ||||||||||
|
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
| ||||
Interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans |
| $ | 18,861 |
|
| $ | 20,162 |
|
| $ | 57,955 |
|
| $ | 61,175 |
|
Investment securities |
|
| 1,736 |
|
|
| 2,551 |
|
|
| 4,970 |
|
|
| 7,581 |
|
Deposits with banks |
|
| 82 |
|
|
| 567 |
|
|
| 505 |
|
|
| 1,695 |
|
Total interest income |
|
| 20,679 |
|
|
| 23,280 |
|
|
| 63,430 |
|
|
| 70,451 |
|
Interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings deposits |
|
| 278 |
|
|
| 480 |
|
|
| 1,143 |
|
|
| 1,430 |
|
Time deposits |
|
| 19 |
|
|
| 26 |
|
|
| 57 |
|
|
| 81 |
|
Other borrowed funds |
|
| 238 |
|
|
| 244 |
|
|
| 717 |
|
|
| 254 |
|
Total interest expense |
|
| 535 |
|
|
| 750 |
|
|
| 1,917 |
|
|
| 1,765 |
|
Net interest income |
|
| 20,144 |
|
|
| 22,530 |
|
|
| 61,513 |
|
|
| 68,686 |
|
Provision for loan losses |
|
| 2,801 |
|
|
| 1,919 |
|
|
| 7,408 |
|
|
| 7,869 |
|
Net interest income, after provision for loan losses |
|
| 17,343 |
|
|
| 20,611 |
|
|
| 54,105 |
|
|
| 60,817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges and fees |
|
| 1,410 |
|
|
| 1,744 |
|
|
| 4,712 |
|
|
| 4,986 |
|
Gain (loss) on sale of investment securities |
|
| 68 |
|
|
| 347 |
|
|
| 68 |
|
|
| 347 |
|
Income from merchant services, net |
|
| 547 |
|
|
| 606 |
|
|
| 1,422 |
|
|
| 1,812 |
|
Cardholders income, net |
|
| 452 |
|
|
| 433 |
|
|
| 752 |
|
|
| 473 |
|
Trustee fees |
|
| 326 |
|
|
| 715 |
|
|
| 1,405 |
|
|
| 1,957 |
|
Other income |
|
| 1,035 |
|
|
| 1,026 |
|
|
| 2,772 |
|
|
| 2,769 |
|
Total non-interest income |
|
| 3,838 |
|
|
| 4,871 |
|
|
| 11,131 |
|
|
| 12,344 |
|
Non-interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
|
| 8,914 |
|
|
| 9,315 |
|
|
| 26,375 |
|
|
| 27,251 |
|
Occupancy |
|
| 2,139 |
|
|
| 2,294 |
|
|
| 6,421 |
|
|
| 6,292 |
|
Equipment and depreciation |
|
| 2,855 |
|
|
| 3,006 |
|
|
| 8,809 |
|
|
| 8,562 |
|
Insurance |
|
| 485 |
|
|
| 478 |
|
|
| 1,432 |
|
|
| 1,407 |
|
Telecommunications |
|
| 357 |
|
|
| 341 |
|
|
| 1,072 |
|
|
| 1,038 |
|
FDIC assessment |
|
| 382 |
|
|
| - |
|
|
| 984 |
|
|
| 706 |
|
Professional services |
|
| 487 |
|
|
| 488 |
|
|
| 1,605 |
|
|
| 1,860 |
|
Contract services |
|
| 412 |
|
|
| 523 |
|
|
| 1,449 |
|
|
| 1,515 |
|
Other real estate owned |
|
| 34 |
|
|
| 63 |
|
|
| 49 |
|
|
| 1,235 |
|
Stationery and supplies |
|
| 145 |
|
|
| 168 |
|
|
| 343 |
|
|
| 581 |
|
Training and education |
|
| 60 |
|
|
| 268 |
|
|
| 266 |
|
|
| 799 |
|
General, administrative and other |
|
| 1,703 |
|
|
| 2,124 |
|
|
| 5,385 |
|
|
| 6,361 |
|
Total non-interest expense |
|
| 17,973 |
|
|
| 19,068 |
|
|
| 54,190 |
|
|
| 57,607 |
|
Income before income taxes |
|
| 3,208 |
|
|
| 6,414 |
|
|
| 11,046 |
|
|
| 15,554 |
|
Income tax expense |
|
| 694 |
|
|
| 1,367 |
|
|
| 2,530 |
|
|
| 3,245 |
|
Net income |
|
| 2,514 |
|
|
| 5,047 |
|
|
| 8,516 |
|
|
| 12,309 |
|
Preferred stock dividend |
|
| (138 | ) |
|
| (138 | ) |
|
| (410 | ) |
|
| (409 | ) |
Net income attributable to common stockholders |
| $ | 2,376 |
|
| $ | 4,909 |
|
| $ | 8,106 |
|
| $ | 11,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
| $ | 0.25 |
|
| $ | 0.51 |
|
| $ | 0.84 |
|
| $ | 1.23 |
|
Diluted |
| $ | 0.25 |
|
| $ | 0.51 |
|
| $ | 0.84 |
|
| $ | 1.23 |
|
Dividends declared per common share |
| $ | 0.10 |
|
| $ | 0.10 |
|
| $ | 0.30 |
|
| $ | 0.30 |
|
Basic weighted average common shares |
|
| 9,689 |
|
|
| 9,660 |
|
|
| 9,681 |
|
|
| 9,654 |
|
Diluted weighted average common shares |
|
| 9,689 |
|
|
| 9,660 |
|
|
| 9,681 |
|
|
| 9,654 |
|
The accompanying notes are an integral part of the condensed consolidated financial statements.
4
Unaudited Condensed Consolidated Statements of Comprehensive Income
(in Thousands)
|
| Three Months Ended September 30, |
|
| Nine Months Ended September 30, |
| ||||||||||
|
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
| ||||
Net income |
| $ | 2,514 |
|
| $ | 5,047 |
|
| $ | 8,516 |
|
| $ | 12,309 |
|
Other comprehensive (loss) income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized holding gain on available-for-sale securities arising during the period, net of tax |
|
| (18 | ) |
|
| 451 |
|
|
| 5,491 |
|
|
| 3,205 |
|
Reclassification for (gain) realized on available-for- sale securities |
|
| (68 | ) |
|
| (347 | ) |
|
| (68 | ) |
|
| (347 | ) |
Amortization of post-transfer unrealized holding loss on held-to-maturity securities during the period, net of tax |
|
| 73 |
|
|
| 87 |
|
|
| 220 |
|
|
| 262 |
|
Total other comprehensive (loss) income |
|
| (13 | ) |
|
| 191 |
|
|
| 5,643 |
|
|
| 3,120 |
|
Total comprehensive income |
| $ | 2,501 |
|
| $ | 5,238 |
|
| $ | 14,159 |
|
| $ | 15,429 |
|
The accompanying notes are an integral part of the condensed consolidated financial statements.
5
Unaudited Condensed Consolidated Statements of Stockholders’ Equity
(Dollar Amounts in Thousands, Except Number of Shares)
|
| Number of Common Shares |
|
| Common Stock |
|
| Preferred Stock |
|
| Additional Paid-in Capital - Common |
|
| Additional Paid-in Capital - Preferred |
|
| Retained Earnings |
|
| Accumulated Other Comprehensive Income/(loss) |
|
| Treasury Stock |
|
| Total |
| |||||||||
Balances, January 1, 2020 |
|
| 9,671,556 |
|
| $ | 2,023 |
|
| $ | 980 |
|
| $ | 24,478 |
|
| $ | 8,803 |
|
| $ | 129,576 |
|
| $ | (1,327 | ) |
| $ | (290 | ) |
| $ | 164,243 |
|
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 3,245 |
|
|
| - |
|
|
| - |
|
|
| 3,245 |
|
Change in accumulated other comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gain on available-for-sale securities, net |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 4,643 |
|
|
| - |
|
|
| 4,643 |
|
Common stock issued under Employee Stock Purchase Plan & Service Awards |
|
| 8,990 |
|
|
| 2 |
|
|
| - |
|
|
| 91 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 93 |
|
Cash dividends on common stock |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (967 | ) |
|
| - |
|
|
| - |
|
|
| (967 | ) |
Cash dividends on preferred stock |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (136 | ) |
|
| - |
|
|
| - |
|
|
| (136 | ) |
Balances, March 31, 2020 |
|
| 9,680,546 |
|
| $ | 2,025 |
|
| $ | 980 |
|
| $ | 24,569 |
|
| $ | 8,803 |
|
| $ | 131,718 |
|
| $ | 3,316 |
|
| $ | (290 | ) |
| $ | 171,121 |
|
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 2,757 |
|
|
| - |
|
|
| - |
|
|
| 2,757 |
|
Change in accumulated other comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gain on available-for-sale securities, net |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 1,013 |
|
|
| - |
|
|
| 1,013 |
|
Common stock issued under Employee Stock Purchase Plan & Service Awards |
|
| 7,708 |
|
|
| 1 |
|
|
| - |
|
|
| 81 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 82 |
|
Cash dividends on common stock |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (969 | ) |
|
| - |
|
|
| - |
|
|
| (969 | ) |
Cash dividends on preferred stock |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (136 | ) |
|
| - |
|
|
| - |
|
|
| (136 | ) |
Balances, June 30, 2020 |
|
| 9,688,254 |
|
| $ | 2,026 |
|
| $ | 980 |
|
| $ | 24,650 |
|
| $ | 8,803 |
|
| $ | 133,370 |