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About Union
Cash Flow Statement
 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
(in thousands)     
Operating activities 
Net income 34,36652,16467,07977,47657,737
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities 
Depreciation of premises and equipment 6,02410,74210,77610,2158,307
Writedown of OREO 7917,6466,0021,017845
Other-than-temporary impairment recognized in earnings 003000NA
Amortization, net 12,31516,33714,95113,55510,500
Amortization (accretion) related to acquisition, net 1,585(255)1,8231,534(158)
Provision for credit losses 6,0567,8009,5719,1007,345
Gains on securities transactions, net (21)(1,695)(1,486)(205)(782)
BOLI income NA(4,648)(4,593)(5,513)(3,999)
Deferred tax expense (benefit) 2622,644(1,212)243NA
Decrease (increase) in loans held for sale, net 114,51321,5306,489(457)5,591
Losses (gains) on sales of other real estate owned, net 461(1,381)(260)(342)32
Losses on sales of premises, net 3401848912551
Gains on sale of loans held for investment 00(470)0NA
Stock-based compensation expenses 8899791,3883,2703,472
Issuance of common stock for services 477713564533561
Net decrease (increase) in other assets (27,377)9,8962,692(14,810)4,952
Net increase in other liabilities 6,3484,564(2,780)(1,898)909
Net cash and cash equivalents provided by (used in) operating activities 157,029127,220110,92393,84395,363
Investing activities 
Purchases of securities available for sale and restricted stock (300,324)(411,916)(259,761)(259,020)(205,965)
Purchases of securities held to maturity 00(9,830)(2,390)(7,836)
Proceeds from sales of securities available for sale and restricted stock 43,354289,389101,15469,51691,911
Proceeds from maturities, calls and paydowns of securities available for sale 129,942143,656142,644115,67088,675
Proceeds from maturities, calls and paydowns of securities held to maturity 003,6802,686818
Net increase in loans held for investment (91,911)(74,753)(356,300)(637,207)(594,967)
Proceeds from sale of loans held for investment 0027,3510NA
Net increase in premises and equipment (4,759)(7,124)(3,870)(6,339)(7,139)
Proceeds from BOLI settlements NANANANA2,497
Proceeds from sales of other real estate owned 7,56917,80810,3095,8371,028
Improvements to other real estate owned (561)(686)(308)0NA
Purchases of BOLI policies 00(30,000)0NA
Cash paid for equity-method investments (2,000)(60)(355)0NA
Cash paid in acquisition NA00(4,077)0
Cash acquired in acquisitions 049,98902070
Net cash and cash equivalents provided by (used in) investing activities (218,690)6,303(375,286)(715,117)(630,978)
Financing activities 
Net increase in noninterest-bearing deposits 45,77395,664173,55920,688141,524
Net increase in interest-bearing deposits (106,698)(164,696)153,450394,865360,813
Net increase in short-term borrowings 131,68574,2111,584187,80440,556
Cash paid for contingent consideration NANANANA(3,003)
Proceeds from issuance of long-term debt 2,23400178,00020,000
Repayments of long-term debt NA0(10,000)(57,500)0
Cash dividends paid - common stock (12,535)(25,494)(29,082)(33,672)(26,207)
Repurchase of common stock (9,499)(52,599)(16,260)(33,177)0
Issuance of common stock 9271,2309281,429969
Vesting of restricted stock, net of shares held for taxes (105)(1,602)(416)(586)(1,313)
Net cash and cash equivalents provided by (used in) financing activities 51,782(73,286)273,763657,851533,339
Increase (decrease) in cash and cash equivalents (9,879)60,2379,40036,577(2,276)
Cash and cash equivalents at beginning of the period 82,90273,023133,260142,660179,237
Cash and cash equivalents at end of the period 73,023133,260142,660179,237176,961
Supplemental Disclosure of Cash Flow Information 
Cash payments for 
Interest 21,01328,39427,52629,57633,947
Income taxes 11,50017,50021,40027,90019,600
Supplemental schedule of noncash investing and financing activities 
Unrealized losses (gains) on securities available for sale (20,586)NANANANA
Transfer from securities available for sale to securities held to maturity 00201,8220NA
Changes in fair value of interest rate swap loss 1,107NANANANA
Transfers between loans and other real estate owned 8,5532,1417001,297585
Transfers from bank premises to other real estate owned 98910,9292,2240NA
Issuance of common stock in exchange for net assets in acquisition 0549,52304530
Transactions related to bank acquisition 
Assets acquired 02,957,52104,668NA
Liabilities assumed 02,642,12004,807NA

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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Union Bank & Trust
Mailing Address:
P.O. Box 940
Ruther Glen, VA 22546