As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q3 YTD 9/30/2018 USD

Cash flows from operating activities

Net income (172) 658 1,422 1,804 1,301

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

Amortization of securities, net of accretion 3 42 37 144 160
Gain on sales and calls of available-for-sale securities, net 0 (409) (1,004) (1,385) (342)
Writedown of available-for-sale securities 0 461 NA NA NA
Provision for loan losses 10 60 310 245 224
Change in net deferred loan fees/costs 16 (29) 77 (3) 44
Loans originated for sale (1,750) NA NA NA NA
Proceeds from sales of loans 1,775 NA NA NA NA
Gain on sales of loans (25) NA NA NA NA
Contribution of common stock to Melrose Cooperative Bank Foundation 1,062 NA NA NA NA
Change in unamortized premiums NA 0 (372) (113) 48
Depreciation 97 97 85 187 109
Increase in accrued interest receivable 26 (58) (132) (130) (132)
Increase in other assets 4 (20) (4) (76) (35)
Increase in other liabilities 337 (34) 17 36 56
Deferred tax expense (502) (68) 71 134 NA
Decrease in income taxes receivable 20 NA NA NA NA
Income on bank-owned life insurance (137) (140) (141) (162) (77)
ESOP expense 99 107 116 136 112
Stock-based compensation expense NA 0 191 300 225
Net cash provided by operating activities 863 667 673 1,117 1,693

Cash flows from investing activities

Purchases of available-for-sale securities (6,110) (15,451) (4,991) (4,214) (8,169)
Proceeds from sales of available-for-sale securities 0 2,911 9,321 4,498 602
Proceeds from maturities and calls of available-for-sale securities 5,054 8,939 9,230 5,385 6,211
Purchases of Federal Home Loan Bank stock (28) 0 (527) (836) (485)
Increase in Cooperative Central Bank deposit NA NA 0 (5) (5)
Loan originations and principal collections, net (1,941) (23,589) (18,286) (18,785) (11,264)
Loans purchased 0 (2,835) (34,591) (19,496) 0
Capital expenditures (104) (69) (107) (932) (791)
Premiums paid on bank-owned life insurance (53) (53) (503) (54) (40)
Net cash used in investing activities (3,182) (30,147) (40,454) (34,439) (13,941)

Cash flows from financing activities

Net increase in demand deposits, NOW and savings accounts 950 1,366 3,969 5,640 2,298
Net increase in time deposits (9,389) 16,090 26,270 12,515 5,432
Proceeds from Federal Home Loan Bank advances NA 0 10,000 19,000 10,000
Repayment of Federal Home Loan Bank advances NA NA NA NA (3,000)
Dividends paid NA NA NA NA (884)
Repurchase of Melrose Bancorp, Inc. common stock 0 (613) (3,520) 0 (335)
Proceeds from common stock offering 27,234 NA NA NA NA
Cost of common stock offering (1,716) NA NA NA NA
Common stock acquired by ESOP (2,264) NA NA NA NA
Shares repurchased for tax withholdings on stock-based compensation NA NA 0 (22) (24)
Stock options exercised NA NA NA NA 137
Net cash provided by financing activities 14,815 16,843 36,719 37,133 13,624
Net increase in cash and cash equivalents 12,496 (12,637) (3,062) 3,811 1,376
Cash and cash equivalents at beginning of the period 16,995 29,491 16,854 13,792 17,603
Cash and cash equivalents at end of the period 29,491 16,854 13,792 17,603 18,979

Supplemental disclosures

Interest paid 1,266 1,276 1,634 2,184 2,384
Income taxes paid 301 379 644 1,181 64
Reclassification adjustment for stranded accumulated other comprehensive income due to tax rate change NA NA 0 42 NA
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.