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Cash Flow Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q1 YTD
Source Document12/31/201512/31/201612/31/201612/31/20163/31/2017
(in thousands)     
Cash flows from operating activities 
Net income (3,480)2,4422,4334,9451,787
Adjustments to reconcile net income to net cash provided by (used in) operating activities 
Provision for loan losses 4,9359005001,5570
Loss on sale of other real estate owned (68)900NA
Write down of other real estate owned 2,5671,1383,069355110
Depreciation and amortization 2,1052,3823,0803,5181,175
Deferred income taxes (304)(142)(84)(380)NA
Stock based compensation 325420600759302
Gain on sale and call of investment securities (703)(458)(108)(656)0
Impairment charges on investment securities 07370
Amortization of premiums on investment securities 7315408401,980676
Accretion of discounts on retained SBA loans (448)(899)(1,005)(1,364)(267)
Fair value adjustments on SBA servicing assets 212655141,075265
Proceeds from sales of SBA loans originated for sale 58,17551,38832,92258,1078,378
SBA loans originated for sale (57,450)(43,416)(31,760)(53,627)(8,881)
Gains on sales of SBA loans originated for sale (5,338)(4,717)(3,139)(4,981)(688)
Increase in value of bank owned life insurance (13)NANANANA
Proceeds from sales of mortgage loans originated for sale NA00163,41476,740
Mortgage loans originated for sale NA00(161,717)(70,507)
Gains on mortgage loans originated for sale NA00(4,737)(2,075)
Amortization of intangible assets NA004326
Amortization of debt issuance costs NA2424247
Increase in accrued interest receivable and other assets (363)(1,796)(2,966)(1,993)(1,501)
Decrease in accrued interest payable and other liabilities (323)325213(1,040)(1,223)
Net cash provided by operating activities 5608,8024,6365,2894,324
Cash flows from investing activities 
Purchase of investment securities available for sale (62,544)(78,825)(146,668)(207,482)(909)
Purchase of investment securities held to maturity 00(121,402)(294,187)0
Proceeds from the sale of securities available for sale 7,9465,70011,70778,5850
Proceeds from the maturity or call of securities available for sale 32,93125,82231,15936,9828,955
Proceeds from the maturity or call of securities held to maturity 482,30816,68933,16010,352
Net redemption (purchase) of restricted stock 2,246413(1,902)1,693NA
Proceeds from redemption of restricted stock NANANANA0
Net increase in loans (63,870)(104,357)(106,616)(89,428)(60,878)
Net proceeds from sale of other real estate owned 2,6001977921,400120
Surrender proceeds on bank owned life insurance 10,503NANANANA
Net cash paid in acquisition NA00(5,913)NA
Premises and equipment expenditures (2,877)(14,664)(14,214)(14,291)(3,061)
Net cash used in investing activities (73,017)(163,406)(330,455)(459,481)(45,421)
Cash flows from financing activities 
Net proceeds from stock offering 044,853099,175NA
Net proceeds from exercise of stock options 0164726292
Net increase in demand, money market and savings deposits 24,731206,163184,859384,78647,573
Net decrease in time deposits (44,398)(3,467)(7,791)43,586(4,731)
Decrease in short-term borrowings 0047,000(66,666)0
Net cash provided by financing activities (19,667)247,550224,132461,60743,134
Net increase in cash and cash equivalents (92,124)92,946(101,687)7,4152,037
Cash and cash equivalents, beginning of year 128,00435,880128,82627,13934,554
Cash and cash equivalents, end of period 35,880128,82627,13934,55436,591
Supplemental disclosures 
Interest paid 4,6544,6165,4016,6641,992
Income taxes paid 235700190NA
Non-cash transfers from loans to other real estate owned 2461,00011,4596160
Transfer of available-for-sale-securities to held-to-maturity securities 070,11800NA
Conversion of subordinated debt to common stock NANANANA240

Data shown on this page is extracted directly from the company’s documents. SNL 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, SNL, as always, stands by its commitment to the quality of the data.

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