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Cash Flow Statement

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 2012 Y2013 Y2014 Y2015 Y2016 Q3 YTD
Source Document12/31/201412/31/201512/31/201512/31/201511/4/2016
(in thousands)     
Cash flows from operating activities 
Net income 3,614(3,480)2,4422,4333,448
Adjustments to reconcile net income to net cash provided by operating activities 
Provision for loan losses 1,3504,9359005001,557
Loss (gain) on sale of other real estate owned 10(68)90NA
Write down of other real estate owned 1302,5671,1383,069521
Depreciation and amortization 2,0062,1052,3823,0802,816
Deferred income taxes (225)(304)(142)(84)NA
Stock based compensation 370325420600562
Gain on sale of investment securities (737)(703)(458)(108)(656)
Impairment charges on investment securities 340737
Amortization of premiums on investment securities 4407315408401,172
Accretion of discounts on retained SBA loans NA(448)(899)(1,005)(1,057)
Fair value adjustments on SBA servicing assets NA21265514894
Proceeds from sales of SBA loans originated for sale 56,98358,17551,38832,92248,031
SBA loans originated for sale (50,609)(57,450)(43,416)(31,760)(43,016)
Gains on sales of SBA loans originated for sale (5,531)(5,338)(4,717)(3,139)(4,212)
Increase in value of bank owned life insurance (73)(13)00NA
Proceeds from sales of mortgage loans originated for sale NANANANA79,029
Mortgage loans originated for sale NANANANA(82,240)
Gains on sales of mortgage loans originated for sale NANANANA(2,783)
Amortization of intangible assets NANANANA17
Increase in accrued interest receivable and other assets (222)(363)(1,772)(2,942)(704)
Decrease in accrued interest payable and other liabilities (336)(323)325213(396)
Net cash provided by operating activities 7,2045608,8024,6362,990
Cash flows from investing activities 
Purchase of investment securities available for sale (72,464)(62,544)(78,825)(146,668)(117,812)
Purchase of investment securities held to maturity NA00(121,402)(69,792)
Proceeds from the sale of securities available for sale 25,7847,9465,70011,70778,582
Proceeds from the paydowns, maturity, or call of securities available for sale 33,67032,93125,82231,15926,295
Proceeds from the paydowns, maturity, or call of securities held to maturity 75482,30816,68921,106
Redemption (purchase) of restricted stock 1,5052,246413(1,902)1,693
Net increase in loans (35,174)(63,870)(104,357)(106,616)(70,006)
Net proceeds from sale of other real estate owned 3342,6001977921,387
Surrender proceeds on bank owned life insurance 010,50300NA
Net cash paid in acquisition NANANANA(5,913)
Premises and equipment expenditures (475)(2,877)(14,664)(14,214)(12,122)
Net cash used in investing activities (46,745)(73,017)(163,406)(330,455)(146,582)
Cash flows from financing activities 
Net proceeds from stock offering 0044,8530NA
Net proceeds from exercise of stock options 00164226
Net increase in demand, money market and savings deposits 30,29724,731206,163184,859291,385
Net increase (decrease) in time deposits (93,707)(44,398)(3,467)(7,791)41,549
Decrease in short-term borrowings NA0047,000(66,666)
Net cash provided by financing activities (63,410)(19,667)247,550224,132266,494
Net increase (decrease) in cash and cash equivalents (102,951)(92,124)92,946(101,687)122,902
Cash and cash equivalents, beginning of year 230,955128,00435,880128,82627,139
Cash and cash equivalents, end of period 128,00435,880128,82627,139150,041
Supplemental disclosures 
Interest paid 7,1144,6544,6165,4015,011
Income taxes paid 023570090
Non-cash transfers from loans to other real estate owned 2,9072461,00011,459616
Transfer of available-for-sale-securities to held-to-maturity securities 0070,1180NA

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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