Company Quick10K Filing
First US Bancshares
Price10.00 EPS1
Shares7 P/E14
MCap68 P/FCF8
Net Debt-35 EBIT13
TEV33 TEV/EBIT3
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-12
10-Q 2020-03-31 Filed 2020-05-14
10-K 2019-12-31 Filed 2020-03-18
10-Q 2019-09-30 Filed 2019-11-06
10-Q 2019-06-30 Filed 2019-08-07
10-Q 2019-03-31 Filed 2019-05-10
10-K 2018-12-31 Filed 2019-03-15
10-Q 2018-09-30 Filed 2018-11-13
10-Q 2018-05-07 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-04
10-K 2017-12-31 Filed 2018-03-15
10-Q 2017-09-30 Filed 2017-11-08
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-05
10-K 2016-12-31 Filed 2017-03-15
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-10
10-Q 2016-03-31 Filed 2016-05-12
10-K 2015-12-31 Filed 2016-03-11
10-Q 2015-09-30 Filed 2015-11-13
10-Q 2015-06-30 Filed 2015-08-13
10-Q 2015-03-31 Filed 2015-05-14
10-K 2014-12-31 Filed 2015-03-12
10-Q 2014-09-30 Filed 2014-11-13
10-Q 2014-06-30 Filed 2014-08-13
10-Q 2014-03-31 Filed 2014-05-14
10-K 2013-12-31 Filed 2014-03-21
10-Q 2013-09-30 Filed 2013-11-13
10-Q 2013-06-30 Filed 2013-08-14
10-Q 2013-03-31 Filed 2013-05-10
10-K 2012-12-31 Filed 2013-03-28
10-Q 2012-09-30 Filed 2012-11-13
10-Q 2012-06-30 Filed 2012-08-10
10-Q 2012-03-31 Filed 2012-05-11
10-K 2011-12-31 Filed 2012-03-30
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-12
10-Q 2011-03-31 Filed 2011-05-23
10-K 2010-12-31 Filed 2011-03-15
10-Q 2010-09-30 Filed 2010-11-08
10-Q 2010-06-30 Filed 2010-08-09
10-Q 2010-03-31 Filed 2010-05-10
10-K 2009-12-31 Filed 2010-03-15
8-K 2020-08-07 Regulation FD, Exhibits
8-K 2020-07-29 Earnings, Exhibits
8-K 2020-05-29
8-K 2020-05-04
8-K 2020-04-30
8-K 2020-02-26
8-K 2020-01-28
8-K 2020-01-27
8-K 2019-10-28
8-K 2019-09-03
8-K 2019-07-29
8-K 2019-07-09
8-K 2019-05-02
8-K 2019-05-02
8-K 2019-04-29
8-K 2019-01-29
8-K 2019-01-28
8-K 2018-11-06
8-K 2018-08-31
8-K 2018-08-16
8-K 2018-08-13
8-K 2018-07-30
8-K 2018-04-27
8-K 2018-04-25
8-K 2018-04-16
8-K 2018-01-30

FUSB 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-10.1 fusb-ex101_73.htm
EX-31.1 fusb-ex311_7.htm
EX-31.2 fusb-ex312_8.htm
EX-32 fusb-ex32_6.htm

First US Bancshares Earnings 2020-06-30

Balance SheetIncome StatementCash Flow

10-Q 1 fusb-10q_20200630.htm 10-Q fusb-10q_20200630.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 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: 0-14549

First US Bancshares, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

63-0843362

(State or Other Jurisdiction of

Incorporation or Organization)

(IRS Employer

Identification No.)

 

3291 U.S. Highway 280

Birmingham, AL

35243

(Address of Principal Executive Offices)

(Zip Code)

 

(205) 582-1200

(Registrant’s Telephone Number, Including Area Code)

 

N/A

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

FUSB

The Nasdaq Stock Market LLC

 

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, a 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 Exchange Act).

Yes      No    

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

Class

Outstanding at August 10, 2020

Common Stock, $0.01 par value

6,176,756 shares

 

 


FIRST US BANCSHARES, INC. AND SUBSIDIARIES

 

 

 

PAGE

 

 

 

PART I.  FINANCIAL INFORMATION

 

4

 

 

 

ITEM  1. FINANCIAL STATEMENTS

 

4

 

 

 

Interim Condensed Consolidated Balance Sheets at June 30, 2020 (Unaudited) and December 31, 2019

 

4

 

 

 

Interim Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2020 and 2019 (Unaudited)

 

5

 

 

 

Interim Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2020 and 2019 (Unaudited)

 

6

 

 

 

Interim Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Three and Six Months Ended June 30, 2020 and 2019 (Unaudited)

 

7

 

 

 

Interim Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2020 and 2019 (Unaudited)

 

9

 

 

 

Notes to Interim Condensed Consolidated Financial Statements (Unaudited)

 

10

 

 

 

ITEM  2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

42

 

 

 

ITEM  3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

55

 

 

 

ITEM  4. CONTROLS AND PROCEDURES

 

56

 

 

 

PART II. OTHER INFORMATION

 

57

 

 

 

ITEM  1. LEGAL PROCEEDINGS

 

57

 

 

 

ITEM  1A. RISK FACTORS

 

57

 

 

 

ITEM  2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

59

 

 

 

ITEM  6. EXHIBITS

 

60

 

 

 

Signature Page

 

61

 

2


FORWARD-LOOKING STATEMENTS

Statements contained in this Quarterly Report on Form 10-Q that are not historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). In addition, First US Bancshares, Inc. (“Bancshares” and, together with its subsidiaries, the “Company”), through its senior management, from time to time makes forward-looking statements concerning its expected future operations, performance and other developments. The words “estimate,” “project,” “intend,” “anticipate,” “expect,” “believe,” “continues” and similar expressions are indicative of forward-looking statements. Such forward-looking statements are necessarily estimates reflecting the Company’s best judgment based on current information and involve a number of risks and uncertainties, and various factors could cause results to differ materially from those contemplated by such forward-looking statements. Such factors could include those identified from time to time in the Company’s Securities and Exchange Commission (“SEC”) filings and other public announcements, including the risk factors described in Part I, Item 1A of the Company's Annual Report on Form 10-K as of and for the year ended December 31, 2019 and in Part II, Item 1A of this Quarterly Report on Form 10-Q. Specifically, with respect to statements relating to the sufficiency of the allowance for loan and lease losses, loan demand, cash flows, interest costs, growth and earnings potential, expansion and the Company’s positioning to handle the challenges presented by COVID-19, these factors include, but are not limited to, the rate of growth (or lack thereof) in the economy generally and in the Bank’s and ALC’s service areas; market conditions and investment returns; changes in interest rates; the impact of the current COVID-19 pandemic on the Company’s business, the Company’s customers, the communities that the Company serves and the United States economy, including the impact of actions taken by governmental authorities to try to contain the virus or address the impact of the virus on the United States economy (including, without limitation, the Coronavirus Aid, Relief and Economic Security Act and subsequent federal legislation) and the resulting effect on the Company’s operations, liquidity and capital position and on the financial condition of the Company’s borrowers and other customers; the pending discontinuation of LIBOR as an interest rate benchmark; the availability of quality loans in the Company’s service areas; the relative strength and weakness in the consumer and commercial credit sectors and in the real estate markets; collateral values; and cybersecurity threats. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.

3


PART I. FINANCIAL INFORMATION

ITEM 1.

FINANCIAL STATEMENTS

FIRST US BANCSHARES, INC. AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in Thousands)

 

 

 

June 30,

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

(Unaudited)

 

 

 

 

 

ASSETS

 

Cash and due from banks

 

$

12,751

 

 

$

11,939

 

Interest-bearing deposits in banks

 

 

95,517

 

 

 

45,091

 

Total cash and cash equivalents

 

 

108,268

 

 

 

57,030

 

Federal funds sold

 

 

80

 

 

 

10,080

 

Investment securities available-for-sale, at fair value

 

 

94,658

 

 

 

94,016

 

Investment securities held-to-maturity, at amortized cost

 

 

9,306

 

 

 

14,340

 

Federal Home Loan Bank stock, at cost

 

 

1,135

 

 

 

1,137

 

Loans, net of allowance for loan and lease losses of $6,423 and $5,762, respectively

 

 

566,062

 

 

 

545,243

 

Premises and equipment, net of accumulated depreciation of $23,195 and $22,570,

   respectively

 

 

28,724

 

 

 

29,216

 

Cash surrender value of bank-owned life insurance

 

 

15,696

 

 

 

15,546

 

Accrued interest receivable

 

 

3,140

 

 

 

2,488

 

Goodwill and core deposit intangible, net

 

 

8,605

 

 

 

8,825

 

Other real estate owned

 

 

1,003

 

 

 

1,078

 

Other assets

 

 

9,070

 

 

 

9,739

 

Total assets

 

$

845,747

 

 

$

788,738

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

Deposits:

 

 

 

 

 

 

 

 

Non-interest-bearing

 

$

153,664

 

 

$

112,729

 

Interest-bearing

 

 

584,626

 

 

 

570,933

 

Total deposits

 

 

738,290

 

 

 

683,662

 

Accrued interest expense

 

 

438

 

 

 

537

 

Other liabilities

 

 

11,404

 

 

 

9,766

 

Short-term borrowings

 

 

10,334

 

 

 

10,025

 

Total liabilities

 

 

760,466

 

 

 

703,990

 

Shareholders’ equity:

 

 

 

 

 

 

 

 

Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,596,551 and

   7,568,053 shares issued, respectively; 6,176,433 and 6,157,692 shares outstanding,

   respectively

 

 

75

 

 

 

75

 

Additional paid-in capital

 

 

13,573

 

 

 

13,814

 

Accumulated other comprehensive loss, net of tax

 

 

(145

)

 

 

(46

)

Retained earnings

 

 

93,636

 

 

 

92,755

 

Less treasury stock: 1,420,118 and 1,410,361 shares at cost, respectively

 

 

(21,858

)

 

 

(21,850

)

Total shareholders’ equity

 

 

85,281

 

 

 

84,748

 

Total liabilities and shareholders’ equity

 

$

845,747

 

 

$

788,738

 

 

The accompanying notes are an integral part of these Interim Condensed Consolidated Statements.

 

4


FIRST US BANCSHARES, INC. AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in Thousands, Except Per Share Data)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

(Unaudited)

 

 

(Unaudited)

 

Interest income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and fees on loans

 

$

9,237

 

 

$

9,833

 

 

$

18,876

 

 

$

19,506

 

Interest on investment securities

 

 

543

 

 

 

1,090

 

 

 

1,301

 

 

 

2,230

 

Total interest income

 

 

9,780

 

 

 

10,923

 

 

 

20,177

 

 

 

21,736

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on deposits

 

 

1,131

 

 

 

1,690

 

 

 

2,606

 

 

 

3,330

 

Interest on borrowings

 

 

26

 

 

 

 

 

 

62

 

 

 

 

Total interest expense

 

 

1,157

 

 

 

1,690

 

 

 

2,668

 

 

 

3,330

 

Net interest income

 

 

8,623

 

 

 

9,233

 

 

 

17,509

 

 

 

18,406

 

Provision for loan and lease losses

 

 

850

 

 

 

715

 

 

 

1,430

 

 

 

1,115

 

Net interest income after provision for loan and lease losses

 

 

7,773

 

 

 

8,518

 

 

 

16,079

 

 

 

17,291

 

Non-interest income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service and other charges on deposit accounts

 

 

263

 

 

 

443

 

 

 

697

 

 

 

903

 

Credit insurance income

 

 

45

 

 

 

108

 

 

 

198

 

 

 

251

 

Net gain on sales and prepayments of investment securities

 

 

326

 

 

 

9

 

 

 

326

 

 

 

22

 

Mortgage fees from secondary market

 

 

176

 

 

 

186

 

 

 

303

 

 

 

289

 

Lease income

 

 

212

 

 

 

212

 

 

 

424

 

 

 

421

 

Other income, net

 

 

308

 

 

 

333

 

 

 

679

 

 

 

670

 

Total non-interest income

 

 

1,330

 

 

 

1,291

 

 

 

2,627

 

 

 

2,556

 

Non-interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

5,193

 

 

 

5,195

 

 

 

10,329

 

 

 

10,183

 

Net occupancy and equipment

 

 

995

 

 

 

1,046

 

 

 

1,996

 

 

 

2,135

 

Computer services

 

 

424

 

 

 

333

 

 

 

841

 

 

 

684

 

Fees for professional services

 

 

401

 

 

 

321

 

 

 

679

 

 

 

563

 

Other expense

 

 

1,568

 

 

 

1,609

 

 

 

3,230

 

 

 

3,392

 

Total non-interest expense

 

 

8,581

 

 

 

8,504

 

 

 

17,075

 

 

 

16,957

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

522

 

 

 

1,305

 

 

 

1,631

 

 

 

2,890

 

Provision for income taxes

 

 

118

 

 

 

300

 

 

 

380

 

 

 

651

 

Net income

 

$

404

 

 

$

1,005

 

 

$

1,251

 

 

$

2,239

 

Basic net income per share

 

$

0.07

 

 

$

0.16

 

 

$

0.20

 

 

$

0.35

 

Diluted net income per share

 

$

0.06

 

 

$

0.15

 

 

$

0.19

 

 

$

0.33

 

Dividends per share

 

$

0.03

 

 

$

0.02

 

 

$

0.06

 

 

$

0.04

 

 

The accompanying notes are an integral part of these Interim Condensed Consolidated Statements.

 


5


FIRST US BANCSHARES, INC. AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in Thousands)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

(Unaudited)

 

 

(Unaudited)

 

Net income

 

$

404

 

 

$

1,005

 

 

$

1,251

 

 

$

2,239

 

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains on securities available-for-sale arising

   during period, net of tax expense of $343, $402, $550 and $686, respectively

 

 

1,031

 

 

 

1,205

 

 

 

1,653

 

 

 

2,056

 

Reclassification adjustment for net gains on securities available-for

   -sale realized in net income, net of tax of $81, $2, $81 and $5,

   respectively

 

 

(245

)

 

 

(7

)

 

 

(245

)

 

 

(17

)

Unrealized holding losses arising during the period on

   effective cash flow hedge derivatives, net of tax benefit

   of $56, $0, $503 and $0, respectively

 

 

(168

)

 

 

 

 

 

(1,507

)

 

 

 

Other comprehensive income (loss)

 

 

618

 

 

 

1,198

 

 

 

(99

)

 

 

2,039

 

Total comprehensive income

 

$

1,022

 

 

$

2,203

 

 

$

1,152

 

 

$

4,278

 

 

The accompanying notes are an integral part of these Interim Condensed Consolidated Statements.

 

6


FIRST US BANCSHARES, INC. AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Dollars in Thousands, Except Share and Per Share Data)

 

For the three months ended June 30, 2020 and 2019 (Unaudited)

 

 

 

Common

Stock

Shares

Outstanding

 

 

Common

Stock

 

 

Additional

Paid-in Capital

 

 

Accumulated

Other

Comprehensive

Income

(Loss)

 

 

Retained

Earnings

 

 

Treasury

Stock,

at Cost

 

 

Total

Shareholders’

Equity

 

Balance, March 31, 2019

 

 

6,303,582

 

 

$

75

 

 

$

13,589

 

 

$

(1,536

)

 

$

89,859

 

 

$

(20,414

)

 

$

81,573

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,005

 

 

 

 

 

 

1,005

 

Net change in fair value of

   securities available-for-sale,

   net of tax

 

 

 

 

 

 

 

 

 

 

 

1,198

 

 

 

 

 

 

 

 

 

1,198

 

Dividends declared: $.02 per

   share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(127

)

 

 

 

 

 

(127

)

Impact of stock-based

   compensation plans, net

 

 

 

 

 

 

 

 

99

 

 

 

 

 

 

 

 

 

 

 

 

99

 

Reissuance of treasury stock as

   compensation

 

 

2,579

 

 

 

 

 

 

(42

)

 

 

 

 

 

 

 

 

42

 

 

 

 

Balance, June 30, 2019

 

 

6,306,161

 

 

$

75

 

 

$

13,646

 

 

$

(338

)

 

$

90,737

 

 

$

(20,372

)

 

$

83,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, March 31, 2020

 

 

6,143,286

 

 

$

75

 

 

$

13,904

 

 

$

(763

)

 

$

93,418

 

 

$

(22,302

)

 

$

84,332

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

404

 

 

 

 

 

 

404

 

Net change in fair value of

   securities available-for-sale,

   net of tax

 

 

 

 

 

 

 

 

 

 

 

786

 

 

 

 

 

 

 

 

 

786

 

Net change in fair value of

   derivative instruments, net

   of tax

 

 

 

 

 

 

 

 

 

 

 

(168

)

 

 

 

 

 

 

 

 

(168

)

Dividends declared: $.03 per

   share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(186

)

 

 

 

 

 

(186

)

Impact of stock-based

   compensation plans, net

 

 

4,300

 

 

 

 

 

 

113

 

 

 

 

 

 

 

 

 

 

 

 

113

 

Reissuance of treasury stock as

   compensation

 

 

28,847

 

 

 

 

 

 

(444

)

 

 

 

 

 

 

 

 

444

 

 

 

 

Balance, June 30, 2020

 

 

6,176,433

 

 

$

75

 

 

$

13,573

 

 

$

(145

)

 

$

93,636

 

 

$

(21,858

)

 

$

85,281

 

 

7


FIRST US BANCSHARES, INC. AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Dollars in Thousands, Except Share and Per Share Data)

For the six months ended June 30, 2020 and 2019 (Unaudited)

 

 

 

Common

Stock

Shares

Outstanding

 

 

Common

Stock

 

 

Additional

Paid-in Capital

 

 

Accumulated

Other

Comprehensive

Income

(Loss)

 

 

Retained

Earnings

 

 

Treasury

Stock,

at Cost

 

 

Non-

controlling

Interest

 

 

Total

Shareholders’

Equity

 

Balance, January 1, 2019

 

 

6,298,062

 

 

$

75

 

 

$

13,496

 

 

$

(2,377

)

 

$

88,668

 

 

$

(20,414

)

 

$

(11

)

 

$

79,437

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,239

 

 

 

 

 

 

 

 

 

2,239

 

Net change in fair value of

   securities available-for-sale,

   net of tax

 

 

 

 

 

 

 

 

 

 

 

2,039

 

 

 

 

 

 

 

 

 

 

 

 

2,039

 

Dividends declared: $.04 per

   share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(253

)

 

 

 

 

 

 

 

 

(253

)

Impact of stock-based

   compensation plans, net

 

 

5,520

 

 

 

 

 

 

192

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

192

 

Reissuance of treasury stock as

   compensation

 

 

2,579

 

 

 

 

 

 

(42

)

 

 

 

 

 

 

 

 

42

 

 

 

 

 

 

 

Discontinuation of partnership

   consolidation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

83

 

 

 

 

 

 

11

 

 

 

94

 

Balance, June 30, 2019

 

 

6,306,161

 

 

$

75

 

 

$

13,646

 

 

$

(338

)

 

$

90,737

 

 

$

(20,372

)

 

$

 

 

$

83,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2020

 

 

6,157,692

 

 

$

75

 

 

$

13,814

 

 

$

(46

)

 

$

92,755

 

 

$

(21,850

)

 

$

 

 

$

84,748

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,251

 

 

 

 

 

 

 

 

 

1,251

 

Net change in fair value of

   securities available-for-sale,

   net of tax

 

 

 

 

 

 

 

 

 

 

 

1,408

 

 

 

 

 

 

 

 

 

 

 

 

1,408

 

Net change in fair value of

   derivative instruments,

   net of tax

 

 

 

 

 

 

 

 

 

 

 

(1,507

)

 

 

 

 

 

 

 

 

 

 

 

(1,507

)

Dividends declared: $.06 per

   share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(370

)

 

 

 

 

 

 

 

 

(370

)

Impact of stock-based

   compensation plans, net

 

 

28,498

 

 

 

 

 

 

203

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

203

 

Reissuance of treasury stock as

   compensation

 

 

28,847

 

 

 

 

 

 

(444

)

 

 

 

 

 

 

 

 

444

 

 

 

 

 

 

 

Treasury stock repurchases

 

 

(38,604

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(452

)

 

 

 

 

 

(452

)

Balance, June 30, 2020

 

 

6,176,433

 

 

$

75