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Cash Flow Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
(in thousands)     
Cash flows from operating activities 
Net income (3,480)2,4422,4334,9456,167
Adjustments to reconcile net income to net cash (used in) provided by operating activities 
Provision for loan losses 4,9359005001,557500
Loss on sale of other real estate owned (68)900NA
Write down of other real estate owned 2,5671,1383,069355777
Depreciation and amortization 2,1052,3823,0803,5183,588
Deferred income taxes (304)(142)(84)(380)NA
Stock based compensation 3254206007591,329
Loss (gain) on sale of investment securities (703)(458)(108)(656)61
Impairment charges on investment securities 07370
Amortization of premiums on investment securities 7315408401,9801,788
Accretion of discounts on retained SBA loans (448)(899)(1,005)(1,364)(859)
Fair value adjustments on SBA servicing assets 212655141,075711
Proceeds from sales of SBA loans originated for sale 58,17551,38832,92258,10728,564
SBA loans originated for sale (57,450)(43,416)(31,760)(53,627)(22,395)
Gains on sales of SBA loans originated for sale (5,338)(4,717)(3,139)(4,981)(2,315)
Increase in value of bank owned life insurance (13)NANANANA
Proceeds from sales of mortgage loans originated for sale NA00163,414263,689
Mortgage loans originated for sale NA00(161,717)(274,133)
Gains on sales of mortgage loans originated for sale NA00(4,737)(7,056)
Amortization of intangible assets NA004361
Amortization of debt issuance costs NA24242422
Increase in accrued interest receivable and other assets (363)(1,796)(2,966)(1,993)(3,720)
Decrease in accrued interest payable and other liabilities (323)325213(1,040)(34)
Net cash (used in) provided by operating activities 5608,8024,6365,289(3,255)
Cash flows from investing activities 
Purchase of investment securities available for sale (62,544)(78,825)(146,668)(207,482)(53,052)
Purchase of investment securities held to maturity 00(121,402)(294,187)(21,958)
Proceeds from the sale of securities available for sale 7,9465,70011,70778,58521,167
Proceeds from the paydowns, maturity, or call of securities available for sale 32,93125,82231,15936,98225,665
Proceeds from the paydowns, maturity, or call of securities held to maturity 482,30816,68933,16036,629
Net (purchase) redemption of restricted stock 2,246413(1,902)1,693(312)
Net increase in loans (63,870)(104,357)(106,616)(89,428)(131,100)
Net proceeds from sale of other real estate owned 2,6001977921,400357
Surrender proceeds on bank owned life insurance 10,503NANANANA
Net cash paid in acquisition NA00(5,913)0
Premises and equipment expenditures (2,877)(14,664)(14,214)(14,291)(18,263)
Net cash used in investing activities (73,017)(163,406)(330,455)(459,481)(140,867)
Cash flows from financing activities 
Net proceeds from stock offering 044,853099,175NA
Net proceeds from exercise of stock options 0164726615
Net increase in demand, money market and savings deposits 24,731206,163184,859384,786197,431
Net increase in time deposits (44,398)(3,467)(7,791)43,58610,304
Decrease in short-term borrowings 0047,000(66,666)0
Net cash provided by financing activities (19,667)247,550224,132461,607208,350
Net increase in cash and cash equivalents (92,124)92,946(101,687)7,41564,228
Cash and cash equivalents, beginning of year 128,00435,880128,82627,13934,554
Cash and cash equivalents, end of period 35,880128,82627,13934,55498,782
Supplemental disclosures 
Interest paid 4,6544,6165,4016,6646,109
Income taxes paid 23570019075
Non-cash transfers from loans to other real estate owned 2461,00011,459616129
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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