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Cash Flow Statement

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 2012 Y2013 Y2014 Y2015 Y2016 Q3 YTD
Source Document12/31/201412/31/201512/31/201512/31/20159/30/2016
(in thousands)     
Cash flows from operating activities 
Net income 15,79714,2276,78249,64035,111
Adjustments to reconcile net income to net cash provided by (used in) operating activities 
Amortization of premiums and discounts on investments, net 4704712,6805,0414,163
Accretion of intangible assets and purchase accounting marks 00(10,899)(10,835)(1,006)
Amortization of subordinated debt issuance costs 003412695
Stock-based compensation expense 2,9762,6653,9571,0761,543
ESOP expense 1,5291,7071,727299216
Loss on extinguishment of debt 0028801,454
Tax benefit from stock-based awards 0(65)(820)317(257)
Provision for loan losses 3,5872,0469,49613,00510,078
Gain on sales of securities, net (914)(585)(1,228)(939)(1,867)
Goodwill impairment 79NANANANA
Loans originated for sale (126,700)(144,597)(145,124)(406,960)(355,361)
Principal balance of loans sold 125,825149,467137,326405,044282,176
Increase in mortgage servicing asset 2743,051(138)(2,345)(22)
Gain on sales of other real estate owned 8485(409)(218)(136)
Net gain from sale of loans (4,417)NANANANA
Net gain in mortgage banking fair value adjustments NA439(356)39(2,144)
(Gain) loss on disposal of equipment 81131,210191168
Write-downs of other real estate owned 1832872131184
Depreciation and amortization 1,3792,3833,7625,3404,108
Net loss on limited partnership investments 004,2243,1363,290
Loss (gain) on lease terminations 001,888(195)NA
Deferred income tax (benefit) expense (1,858)4107,3613,582(3,502)
Increase in cash surrender value of bank-owned life insurance (1,920)(2,092)(3,042)(3,397)(2,531)
Income recognized from death benefit on bank-owned life insurance NA00(219)NA
Net change in 
Deferred loan fees and premiums (276)(1,632)(1,603)(3,013)(3,195)
Accrued interest receivable (773)(844)(2,237)(1,528)(2,148)
Other assets 808(4,340)(33,243)(16,172)(41,393)
Accrued expenses and other liabilities 4,9439468,5529,63725,281
Net cash provided by (used in) operating activities 21,08424,142(9,599)50,770(45,875)
Cash flows from investing activities 
Proceeds from sales of available-for-sale securities 29,28544,880511,044280,564241,452
Proceeds from calls and maturities of available-for-sale securities 14,800021,22016,65512,491
Principal payments on available-for-sale securities 33,39326,86261,42586,12866,210
Principal payments on held-to-maturity securities 3,4682,373783774380
Purchases of available-for-sale securities (165,073)(245,609)(885,610)(398,794)(288,390)
Purchases of held to maturity securities 0(10,093)(2,342)0NA
Cash acquired from United Financial Bancorp, Inc. 0025,4100NA
Redemption of FHLBB stock 1,1408142,29703,392
Purchase of FHLBB stock 00(1,860)(19,246)(5,043)
Proceeds from sale of other real estate owned 2,1134,0423,8692,6831,237
Proceeds from portfolio loan sales 070,71500NA
Purchases of loans (3,692)(14,142)(16,310)(348,175)(92,162)
Loan originations, net of principal repayments (131,424)(170,550)(302,918)(366,495)(18,656)
Purchase of bank-owned life insurance (25,000)(4,008)00NA
Proceeds from BOLI death benefit NA001,158689
Purchases of premises and equipment (5,971)(7,108)(12,719)(3,593)(1,879)
Proceeds from sale of equipment 8032736417
Net cash used in investing activities (246,953)(301,824)(595,384)(747,977)(80,262)
Cash flows from financing activities 
Net increase in non-interest-bearing deposits 32,50827,6852,55069,64930,147
Net increase in interest-bearing deposits 145,406202,840357,800335,320229,329
Net increase (decrease) in mortgagors' and investors' escrow accounts 924(434)4,604522(4,481)
Net increase in short-term FHLBB advances 61,00064,112275,776196,20054,800
Repayments of long-term FHLBB advances (7,026)(15,182)(6,076)(8,056)(13,955)
Prepayments of long-term FHLBB borrowings and penalty 00(12,466)0(37,796)
Proceeds from long-term FHLBB advances 23,250010,000181,80025,341
Net change in other borrowings 048,1924,860(46,491)(24,761)
Proceeds from issuance of subordinated debt, net of issuance costs 0073,7330NA
Proceeds from exercise of stock options and SARs 4198052,2464,7654,464
Common stock repurchased (21,626)(30,028)(47,772)(5,171)0
Cancellation of shares for tax withholding (276)(357)(1,367)(311)(90)
Tax benefit from stock-based awards 065820(317)257
Cash dividend paid on common stock (14,376)(10,453)(18,008)(22,479)(18,048)
ESOP forfeiture 035700NA
Reissuance of treasury shares (4)NANANANA
Net cash provided by financing activities 220,199287,602646,700705,431245,207
Net increase in cash and cash equivalents (5,670)9,92041,7178,224119,070
Cash and cash equivalents, beginning of period 40,98535,31545,23586,95295,176
Cash and cash equivalents, end of period 35,31545,23586,95295,176214,246
Supplemental Disclosures of Cash Flow Information 
Cash paid (refunded) during the year for 
Interest 10,86010,46521,82436,53231,705
Income taxes, net 5,3117,0173,599(6,744)3,300
Transfer of loans to other real estate owned 2,2183,0972,3391,0993,163
Decrease in due to broker, investment purchases 1,3861,758(4,855)(1,105)3,009
Decrease in due to broker, common stock buyback 00523(523)0
Acquisition of non-cash assets and liabilities 
Fair value of assets acquired 002,396,9370NA
Fair value of liabilities assumed 002,154,7130NA

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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