Company Quick10K Filing
Quick10K
Bankguam Holding
10-Q 2019-09-30 Quarter: 2019-09-30
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-11-25 Other Events, Exhibits
8-K 2019-08-26 Other Events, Exhibits
8-K 2019-06-27 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-05-28 Other Events, Exhibits
8-K 2019-05-20 Shareholder Vote
8-K 2019-03-20 Officers, Exhibits
8-K 2019-02-25 Officers, Other Events, Exhibits
8-K 2018-12-26 Officers
8-K 2018-11-26 Officers, Other Events, Exhibits
8-K 2018-10-15 Officers
8-K 2018-09-04 Shareholder Vote
8-K 2018-08-27 Other Events, Exhibits
8-K 2018-06-11 Regulation FD, Exhibits
8-K 2018-05-29 Officers, Other Events, Exhibits
8-K 2018-04-12 Accountant, Exhibits
8-K 2018-03-26 Officers
8-K 2018-02-26 Other Events, Exhibits
8-K 2018-02-09 Other Events
8-K 2017-12-29 Officers, Exhibits
LTDH Living 3D Holdings 137
DCSA Docasa 88
PRKR Parkervision 22
BCYC Bicycle Therapeutics 0
CAVF Cavendish Futures Fund 0
HIT Hospitality Investors Trust 0
LUNG Prolung 0
CFFA CF Finance Acquisition 0
REE Rare Element Resources 0
ODYY Odyssey Group 0
BKGMF 2019-09-30
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
Note 12 - Leases
Note 13 - Revenue Recognition
Note 14 - 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 6. Exhibits
EX-31.01 bkgmf-ex3101_9.htm
EX-31.02 bkgmf-ex3102_6.htm
EX-32.01 bkgmf-ex3201_7.htm

Bankguam Holding Earnings 2019-09-30

BKGMF 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

10-Q 1 bkgmf-10q_20190930.htm BKGMF-Q3-20190930 bkgmf-10q_20190930.htm

 

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, 2019

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

“BKGMF”

Not listed

As of November 8, 2019, there were 9,665,581 shares outstanding

 

 

 

 

 


BANKGUAM HOLDING COMPANY

FORM 10-Q

QUARTERLY REPORT

TABLE OF CONTENTS

 

 

 

PART 1. FINANCIAL INFORMATION

3

 

 

 

Item 1.

Condensed Consolidated Financial Statements (Unaudited)

3

 

 

 

 

Condensed Consolidated Statements of Financial Condition at September 30, 2019, and December 31, 2018

3

 

 

 

 

Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2019 and 2018

4

 

 

 

 

Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2019 and 2018

5

 

 

 

 

Condensed Consolidated Statements of Stockholders’ Equity for the three and nine months ended September 30, 2019 and 2018

6

 

 

 

 

Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018

8

 

 

 

 

Notes to Condensed Consolidated Financial Statements

9

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

35

 

 

 

Item 4.

Controls and Procedures

56

 

 

PART II. OTHER INFORMATION

57

 

 

 

Item 6.

Exhibits

57

 

 

 

Signatures

58

 

 

 

 

 

 

 


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, 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 events, 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;

 

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;

 

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;

 

The ability to increase market share and control expenses; 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, 2018, and our Quarterly Reports on Form 10-Q filed by us in fiscal 2019. 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


PART I. FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements (Unaudited)

 

BankGuam Holding Company

Unaudited Condensed Consolidated Statements of Financial Condition

(in Thousands, Except Par Value)

 

 

 

September 30, 2019

 

 

December 31, 2018

 

ASSETS

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

29,312

 

 

$

33,279

 

Interest bearing deposits in banks

 

 

160,097

 

 

 

121,816

 

Total cash and cash equivalents

 

 

189,409

 

 

 

155,095

 

Restricted cash

 

 

400

 

 

 

400

 

Investment in unconsolidated subsidiary

 

 

7,393

 

 

 

3,291

 

Investment securities available-for-sale, at fair value

 

 

353,959

 

 

 

381,042

 

Investment securities held-to-maturity, at amortized cost

   (Fair Value $56,875 at 9/30/19 and $67,477 at 12/31/18)

 

 

56,678

 

 

 

68,088

 

Federal Home Loan Bank stock, at cost

 

 

2,267

 

 

 

2,356

 

Loans, net of allowance for loan losses

   ($27,852 at 9/30/19 and $23,774 at 12/31/18)

 

 

1,238,465

 

 

 

1,212,141

 

Accrued interest receivable

 

 

6,373

 

 

 

6,221

 

Premises and equipment, net

 

 

20,195

 

 

 

18,471

 

Other assets

 

 

76,592

 

 

 

44,597

 

Total assets

 

$

1,951,731

 

 

$

1,891,702

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

Non-interest bearing

 

$

546,095

 

 

$

538,168

 

Interest bearing

 

 

1,183,573

 

 

 

1,190,655

 

Total deposits

 

 

1,729,668

 

 

 

1,728,823

 

Accrued interest payable

 

 

118

 

 

 

137

 

Subordinated debt, net

 

 

14,744

 

 

 

-

 

Other liabilities

 

 

46,080

 

 

 

14,447

 

Total liabilities

 

 

1,790,610

 

 

 

1,743,407

 

Commitments and contingencies (Note 6)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Common stock $0.2083 par value; 48,000 shares authorized; 9,698 and 9,679

   shares issued and 9,666 and 9,646 shares outstanding at 9/30/19 and

   12/31/18, respectively

 

 

2,022

 

 

 

2,017

 

Preferred stock $100 par value; 300 shares authorized; 9.8 shares issued

   and outstanding

 

 

980

 

 

 

980

 

Additional paid-in capital, Common stock

 

 

24,415

 

 

 

24,214

 

Additional paid-in capital, Preferred stock

 

 

8,803

 

 

 

8,803

 

Retained earnings

 

 

126,839

 

 

 

117,339

 

Accumulated other comprehensive loss

 

 

(1,648

)

 

 

(4,768

)

Common stock in treasury, at cost (32 shares)

 

 

(290

)

 

 

(290

)

Total stockholders’ equity

 

 

161,121

 

 

 

148,295

 

Total liabilities and stockholders’ equity

 

$

1,951,731

 

 

$

1,891,702

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

3


BankGuam Holding Company

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,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Interest income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

20,162

 

 

$

19,950

 

 

$

61,175

 

 

$

59,208

 

Investment securities

 

 

2,551

 

 

 

2,270

 

 

 

7,581

 

 

 

7,255

 

Deposits with banks

 

 

567

 

 

 

354

 

 

 

1,695

 

 

 

726

 

Total interest income

 

 

23,280

 

 

 

22,574

 

 

 

70,451

 

 

 

67,189

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Savings deposits

 

 

480

 

 

 

487

 

 

 

1,430

 

 

 

1,507

 

Time deposits

 

 

26

 

 

 

29

 

 

 

81

 

 

 

88

 

Other borrowed funds

 

 

244

 

 

 

-

 

 

 

254

 

 

 

10

 

Total interest expense

 

 

750

 

 

 

516

 

 

 

1,765

 

 

 

1,605

 

Net interest income

 

 

22,530

 

 

 

22,058

 

 

 

68,686

 

 

 

65,584

 

Provision for loan losses

 

 

1,919

 

 

 

3,134

 

 

 

7,869

 

 

 

7,972

 

Net interest income, after provision for loan losses

 

 

20,611

 

 

 

18,924

 

 

 

60,817

 

 

 

57,612

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-interest income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges and fees

 

 

1,744

 

 

 

1,567

 

 

 

4,986

 

 

 

5,005

 

Gain (loss) on sale of investment securities

 

 

347

 

 

 

(181

)

 

 

347

 

 

 

(593

)

Income from merchant services, net

 

 

606

 

 

 

611

 

 

 

1,812

 

 

 

1,788

 

Cardholders income, net

 

 

433

 

 

 

68

 

 

 

473

 

 

 

247

 

Trustee fees

 

 

715

 

 

 

787

 

 

 

1,957

 

 

 

1,866

 

Other income

 

 

1,026

 

 

 

897

 

 

 

2,769

 

 

 

2,695

 

Total non-interest income

 

 

4,871

 

 

 

3,749

 

 

 

12,344

 

 

 

11,008

 

Non-interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

9,315

 

 

 

8,977

 

 

 

27,251

 

 

 

27,033

 

Occupancy

 

 

2,294

 

 

 

1,825

 

 

 

6,292

 

 

 

5,435

 

Equipment and depreciation

 

 

3,006

 

 

 

2,628

 

 

 

8,562

 

 

 

7,485

 

Insurance

 

 

478

 

 

 

442

 

 

 

1,407

 

 

 

1,296

 

Telecommunications

 

 

341

 

 

 

491

 

 

 

1,038

 

 

 

1,471

 

FDIC assessment

 

 

-

 

 

 

348

 

 

 

706

 

 

 

1,056

 

Professional services

 

 

488

 

 

 

709

 

 

 

1,860

 

 

 

2,237

 

Contract services

 

 

523

 

 

 

432

 

 

 

1,515

 

 

 

1,266

 

Other real estate owned

 

 

63

 

 

 

196

 

 

 

1,235

 

 

 

238

 

Stationery and supplies

 

 

168

 

 

 

243

 

 

 

581

 

 

 

622

 

Training and education

 

 

268

 

 

 

276

 

 

 

799

 

 

 

816

 

General, administrative and other

 

 

2,124

 

 

 

2,133

 

 

 

6,361

 

 

 

6,268

 

Total non-interest expense

 

 

19,068

 

 

 

18,700

 

 

 

57,607

 

 

 

55,223

 

Income before income taxes

 

 

6,414

 

 

 

3,973

 

 

 

15,554

 

 

 

13,397

 

Income tax expense

 

 

1,367

 

 

 

699

 

 

 

3,245

 

 

 

2,597

 

Net income

 

 

5,047

 

 

 

3,274

 

 

 

12,309

 

 

 

10,800

 

Preferred stock dividend

 

 

(138

)

 

 

(138

)

 

 

(409

)

 

 

(409

)

Net income attributable to common stockholders

 

$

4,909

 

 

$

3,136

 

 

$

11,900

 

 

$

10,391

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.51

 

 

$

0.33

 

 

$

1.23

 

 

$

1.08

 

Diluted

 

$

0.51

 

 

$

0.33

 

 

$

1.23

 

 

$

1.08

 

Dividends declared per common share

 

$

0.10

 

 

$

0.10

 

 

$

0.30

 

 

$

0.30

 

Basic weighted average common shares

 

 

9,660

 

 

 

9,635

 

 

 

9,654

 

 

 

9,605

 

Diluted weighted average common shares

 

 

9,660

 

 

 

9,635

 

 

 

9,654

 

 

 

9,605

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

4


BankGuam Holding Company

Unaudited Condensed Consolidated Statements of Comprehensive Income

(in Thousands)

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income

 

$

5,047

 

 

$

3,274

 

 

$

12,309

 

 

$

10,800

 

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gain (loss) on available-for-sale

   securities arising during the period, net of tax

 

 

451

 

 

 

(670

)

 

 

3,205

 

 

 

(3,349

)

Reclassification for (gain) loss realized on available-for-

   sale securities

 

 

(347

)

 

 

181

 

 

 

(347

)

 

 

593

 

Amortization of post-transfer unrealized holding loss on

   held-to-maturity securities during the period, net of tax

 

 

87

 

 

 

199

 

 

 

262

 

 

 

474

 

Total other comprehensive income (loss)

 

 

191

 

 

 

(290

)

 

 

3,120

 

 

 

(2,282

)

Total comprehensive income

 

$

5,238

 

 

$

2,984

 

 

$

15,429

 

 

$

8,518

 

 

The accompanying notes are an integral part of the condensed consolidated financial statements.

5


BankGuam Holding Company

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, 2019

 

 

9,646,344

 

 

$

2,017

 

 

$

980

 

 

$

24,214

 

 

$

8,803

 

 

$

117,339

 

 

$

(4,768

)

 

$

(290

)

 

$

148,295

 

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,902

 

 

 

-

 

 

 

-

 

 

 

2,902

 

Reclassification related to adoption of new accounting standard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

496

 

 

 

-

 

 

 

-

 

 

 

496

 

Change in accumulated other comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain on available-for-sale securities, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,580

 

 

 

-

 

 

 

1,580

 

Common stock issued under Employee Stock

   Purchase Plan & Service Awards

 

 

6,881

 

 

 

2

 

 

 

-

 

 

 

71

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

73

 

Cash dividends on common stock

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(965

)

 

 

-

 

 

 

-

 

 

 

(965

)

Cash dividends on preferred stock

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(134

)

 

 

-

 

 

 

-

 

 

 

(134

)

Balances, March 31, 2019

 

 

9,653,225

 

 

 

2,019

 

 

 

980

 

 

 

24,285

 

 

 

8,803

 

 

 

119,638

 

 

 

(3,188

)

 

 

(290

)

 

 

152,247

 

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,360

 

 

 

-

 

 

 

-

 

 

 

4,360

 

Change in accumulated other comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain on available-for-sale securities, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,349

 

 

 

-

 

 

 

1,349

 

Common stock issued under Employee Stock

   Purchase Plan & Service Awards

 

 

6,821

 

 

 

1

 

 

 

-

 

 

 

72

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

73

 

Cash dividends on common stock

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(966

)

 

 

-

 

 

 

-

 

 

 

(966

)

Cash dividends on preferred stock

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(137

)

 

 

-

 

 

 

-

 

 

 

(137

)

Balances, June 30, 2019

 

 

9,660,046

 

 

 

2,020

 

 

 

980

 

 

 

24,357

 

 

 

8,803

 

 

 

122,895

 

 

 

(1,839

)

 

 

(290

)

 

 

156,926

 

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

5,047

 

 

 

-

 

 

 

-

 

 

 

5,047

 

Change in accumulated other comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on available-for-

   sale securities, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

191

 

 

 

-

 

 

 

191

 

Common stock issued under Employee Stock

   Purchase Plan & Service Awards

 

 

5,485

 

 

 

2

 

 

 

-

 

 

 

58

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

60

 

Cash dividends on common stock

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(965

)

 

 

-

 

 

 

-