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Cash Flow Statement

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 2014 Y2015 Y2016 Y2017 Y2018 Q1 YTD
Source Document9/30/20169/30/20179/30/20179/30/201712/31/2017
(in units)     
Cash flows from operating activities 
Net income 5,955,1335,572,16211,863,32014,436,1054,397,003
Adjustments to reconcile net income to net cash provided by operating activities 
Provision for non-acquired loan losses 300,000NANANANA
Provision for loan losses (1,012,560)0(250,000)(900,000)0
Provision for FDIC receivable impairment 521,6372,541,57100NA
Depreciation and amortization 1,395,9581,523,5761,476,2031,767,056531,118
Deferred income tax expense 2,560,5681,857,2171,050,103(55,836)2,826,232
Accretion and amortization of premiums and discounts, net 2,010,1481,331,456935,4541,005,786163,549
Accretion of fair value discounts related to acquired loans (6,593,660)(5,945,546)(4,371,088)(1,741,625)(335,154)
Accretion of fair value discounts related to FDIC receivable (347,347)(106,668)00NA
Amortization of FDIC loss share receivable 3,507,0172,387,20500NA
Write down of asset held for sale 087,500325,0040NA
Gain on sale of loans (1,103,586)(1,612,335)(2,118,012)(2,418,272)(619,209)
Proceeds from sale of loans 43,420,42964,715,79787,666,768100,316,27816,538,800
Originations and purchases of loans held for sale (42,514,172)(62,455,642)(86,590,036)(97,410,377)(15,212,518)
Gain on sale of mortgage-backed securities, collateralized mortgage obligations and other investments (200,704)27,209(48,885)(247,780)(1,074)
Write down of real estate owned 523,104246,891163,74129,48776,874
Gain on sale of real estate owned (298,170)(397,392)(900,054)(624,304)(166,035)
(Gain) loss on sale of fixed assets 0(7,500)61,46446,556(265,806)
Restricted stock award expense 662,747792,619784,280797,976217,663
Stock option expense 291,512330,995330,783327,97880,795
Increase in cash surrender value of bank owned life insurance (1,252,246)(1,245,382)(1,225,422)(1,195,445)(322,085)
Gain on settlement of bank owned life insurance 00(266,696)0NA
Donation of other real estate owned 0021,5000NA
Changes in assets and liabilities 
Increase in accrued interest and dividends receivable 269,555(209,059)65,220(286,757)(434,634)
Decrease in other assets (647,711)905,4104,240,6252,499,704414,154
Decrease in other liabilities 1,383,0378,207,370(4,952,556)2,904,494(2,660,424)
Net cash provided by operating activities 8,830,68918,547,4548,261,71619,251,0245,229,249
Cash flows from investing activities 
Proceeds from sales of investment securities available for sale 9,906,70814,024,15422,031,3856,578,43613,336
Principal collections on investment securities available for sale 24,782,14623,907,35420,133,33817,898,9165,347,354
Purchase of investment securities available for sale (23,863,931)(39,599,793)(46,442,903)(30,163,566)(14,874,249)
Proceeds from maturities or calls of investment securities available for sale 15,385,4006,774,0504,500,00024,107,49012,122,429
Proceeds from redemption of Federal Home Loan Bank stock 497,400437,3002,932,6000NA
Purchase of Federal Home Loan Bank stock 0(510,000)(2,233,500)(122,800)NA
Net decrease in certificates of deposit held at other financial institutions 0010,699,0006,966,0001,481,000
Net (increase) decrease in loans receivable (25,733,580)(105,753,423)24,075,918(25,405,525)(1,935,160)
Net decrease in FDIC receivable 15,710,0135,266,79400NA
Principal reductions of OREO 180,08958,89100NA
Proceeds from sale of real estate owned 14,509,1817,676,9043,631,6763,218,354487,799
Proceeds from sale of premises and equipment 547,0307,500354,499259,104905,806
Purchase of bank owned life insurance (6,100,000)NANANANA
Proceeds from settlement of bank owned life insurance 00646,6550NA
Purchases of premises and equipment, net of dispositions (383,563)(413,744)(1,593,035)(1,541,402)(74,548)
Net cash received (paid) in acquisitions 00(42,520,560)5,421,379NA
Net cash provided by investing activities 25,436,893(88,124,013)(3,784,927)7,216,3863,473,767
Cash flows from financing activities 
Repurchase of shares (53,238,798)(25,505,196)(13,171,257)(1,881)(263,005)
Issuance of common stock 00126,457624,933157,322
Dividends paid (4,171,876)(3,134,319)(2,875,816)(3,578,627)(1,078,963)
Net increase in deposits (34,104,468)21,662,87689,531,37239,616,7194,963,117
Proceeds from Federal Home Loan Bank advances 012,000,00097,000,00027,000,000NA
Principal payments on Federal Home Loan Bank advances (5,000,000)(5,000,000)(114,000,000)(27,000,000)NA
Principal payments on other borrowings NA00(3,250,000)NA
Net decrease in advance payments by borrowers for taxes and insurance 258,032433,470418,729610,336(1,676,469)
Net cash provided by financing activities (96,257,110)456,83157,029,48534,021,4802,102,002
Net increase in cash and cash equivalents (61,989,528)(69,119,728)61,506,27460,488,89010,805,018
Cash and cash equivalents at beginning of period 161,452,48199,462,95330,343,22591,849,499152,338,389
Cash and cash equivalents at end of period 99,462,95330,343,22591,849,499152,338,389163,143,407
Supplemental disclosures of cash flow information 
Interest paid 5,747,7394,973,6455,141,6216,724,5522,237,380
Income taxes paid (81,290)409,9202,547,4382,822,28629,260
Supplemental disclosure of noncash activities 
Real estate acquired through foreclosure of collateral on loans receivable 6,527,3813,237,1341,757,8861,354,421205,660
Write down of real estate owned reimbursed by the FDIC 1,330,943(830,225)00NA
Gain on real estate sold payable to the FDIC 1,349,6751,273,13200NA
Effect of restricted stock awards NANANANA217,663
Issuance of common stock under stock benefit plan 592,857561,259661,364684,0181,021,663
Unrealized loss on investment securities available for sale, net 1,085,4581,358,221499,795(2,241,533)(544,273)
Fair value of assets and liabilities from acquisition 
Fair value of tangible assets acquired 00373,488,036166,420,602NA
Other intangible assets acquired 0028,366,47311,089,622NA
Fair value of liabilities assumed 00(345,948,385)(151,734,911)NA
Total merger consideration 0055,906,12425,775,313NA

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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