As Reported Financial Statements

As Reported Financials

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

Cash flows from operating activities

Net income 658 1,422 1,804 1,770

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

Amortization of securities, net of accretion 42 37 144 177
Gain on sales and calls of available-for-sale securities, net (409) (1,004) (1,385) (493)
Writedown of available-for-sale securities 461 NA NA NA
Provision for loan losses 60 310 245 189
Change in net deferred loan fees/costs (29) 77 (3) 32
Change in unamortized premiums 0 (372) (113) 65
Depreciation 97 85 187 149
Increase in accrued interest receivable (58) (132) (130) (76)
Increase in other assets (20) (4) (76) (606)
Increase in other liabilities (34) 17 36 71
Deferred tax expense (68) 71 134 306
Income on bank-owned life insurance (140) (141) (162) (160)
ESOP expense 107 116 136 147
Stock-based compensation expense 0 191 300 300
Net cash provided by operating activities 667 673 1,117 1,871

Cash flows from investing activities

Purchases of available-for-sale securities (15,451) (4,991) (4,214) (7,504)
Proceeds from sales of available-for-sale securities 2,911 9,321 4,498 860
Proceeds from maturities and calls of available-for-sale securities 8,939 9,230 5,385 6,817
Purchase of interest-bearing time deposits with other banks NA NA 0 (675)
Purchases of Federal Home Loan Bank stock 0 (527) (836) (485)
Decrease (Increase) in Cooperative Central Bank deposit NA 0 (5) 5
Loan originations and principal collections, net (23,589) (18,286) (18,785) (16,886)
Loans purchased (2,835) (34,591) (19,496) (294)
Capital expenditures (69) (107) (932) (801)
Premiums paid on bank-owned life insurance (53) (503) (54) (53)
Net cash used in investing activities (30,147) (40,454) (34,439) (19,016)

Cash flows from financing activities

Net increase in demand deposits, NOW and savings accounts 1,366 3,969 5,640 5,636
Net increase in time deposits 16,090 26,270 12,515 5,499
Proceeds from Federal Home Loan Bank advances 0 10,000 19,000 10,000
Repayment of advances from Federal Home Loan Bank NA NA 0 (5,000)
Cash dividend paid NA NA 0 (817)
Repurchase of Melrose Bancorp, Inc. common stock (613) (3,520) 0 (694)
Shares repurchased for tax withholdings on stock-based compensation NA 0 (22) (24)
Stock options exercised NA NA 0 137
Net cash provided by financing activities 16,843 36,719 37,133 14,737
Net (decrease) increase in cash and cash equivalents (12,637) (3,062) 3,811 (2,408)
Cash and cash equivalents at beginning of the year 29,491 16,854 13,792 17,603
Cash and cash equivalents at end of the year 16,854 13,792 17,603 15,195

Supplemental disclosures

Interest paid 1,276 1,634 2,184 3,459
Income taxes paid 379 644 1,181 679
Reclassification adjustment for stranded accumulated other comprehensive income due to tax rate change NA 0 42 0
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.