HVBC 2016 Annual Report

54 HV Bancorp, Inc. and Subsidiary Consolidated Statements of Changes in Shareholders’ Equity (Dollars in thousands) Common Stock (1) Shares Amount Additional Paid-in Capital (1) Retained Earnings Accumulated Other Comprehensive Loss Unearned ESOP Shares (1) Total Balance, July 1, 2015 — $ — $ — $11,952 $ (496) $ — $11,456 Net income — — — 1,026 — — 1,026 Other comprehensive income — — — — 489 — 489 Balance, June 30, 2016 — $ — $ — $12,978 $ (7) $ — $12,971 Proceeds from issuance of common stock, net of $1,431 in offering costs 2,182,125 22 20,369 — — — 20,391 Purchase of 174,570 of ESOP shares — — — — — (2,430) (2,430) ESOP shares committed to be released — — — — — 44 44 Net income — — — 569 — — 569 Other comprehensive loss — — — — (104) — (104) Balance, June 30, 2017 2,182,125 $ 22 $ 20,369 $13,547 $ (111) $ (2,386) $31,441 (1) No common stock or ESOP shares were issued and outstanding during the year ended June 30, 2016. See the accompanying notes to the consolidated financial statements.