BERKSHIRE HILLS BANCORP INC BHLB Cash Flow

Berkshire hills bancorp inc (BHLB)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Cash flows from operating activities:
Net income from continuing operations
101,521	109,219	49,116	-	-	-	-	-	-	-	-
Net income from discontinued operations
-4,071	-3,454	6,131	-	-	-	-	-	-	-	-
Net income
97,450	105,765	55,247	58,670	49,518	33,744	41,143	33,188	17,348	13,615	-15,931
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses
35,419	25,451	21,025	17,362	16,726	14,968	11,378	9,590	7,563	8,526	47,730
Accretion (Amortization) of Discounts and Premiums, Investments
-2,407	-2,837	-1,678	-4,052	-3,010	-2,447	-1,635	-1,937	-1,317	-2,352	-1,784
Change in unamortized net loan origination costs and premiums
-12,759	1,004	-2,232	4,138	961	2,237	8,350	1,377	-316	-1,462	1,223
Premises and equipment depreciation and amortization expense
10,921	10,442	9,499	8,393	8,594	8,292	7,120	6,045	4,849	3,817	3,859
Stock-based compensation expense
4,812	4,759	5,102	4,621	4,686	3,839	2,960	2,260	1,450	1,601	1,405
Accretion of purchase accounting entries, net
-14,813	-24,000	-18,189	-9,407	-10,074	-6,938	-20,313	-9,281	-5,319	-1,490	-1,718
Amortization of Intangible Assets
5,783	4,934	3,493	2,927	3,563	4,812	5,268	5,339	4,401	3,021	3,278
Write down of other real estate owned
0	0	10	395	480	196	135	45	2,000	-	-
Excess tax loss from stock-based payment arrangements
-	-	-	105	167	102	1,451	1,126	68	-94	-
Income from cash surrender value of bank-owned life insurance policies
5,349	6,232	3,615	3,913	3,356	3,058	3,518	2,716	2,120	1,398	1,236
Securities (gains) losses, net
4,389	-3,719	12,598	-551	2,110	482	4,758	1,655	2,113	-	-4
Net change in loans held-for-sale
5,137	-1,460	-10,511	-5,185	3,212	3,653	-69,528	35,451	412	-3,103	2,378
Change in right-of-use lease assets
-12,031	-	-	-	-	-	-	-	-	-	-
Change in lease liabilities
-12,217	-	-	-	-	-	-	-	-	-	-
Loss on disposition of assets
-3,443	-152	-686	-1,318	-3,514	-662	-4,232	-2,124	-	-	-
Loss (gain) on sale of real estate
-5	0	51	-40	-191	-231	2	-128	50	-	-
Amortization of interest in tax-advantaged projects
6,455	4,618	8,477	8,882	11,428	1,668	0	-	-	-	-
Loss on termination of hedges
-	-	-	-	-	-3,237	0	-	-	-	-
Remeasurement of deferred tax asset
0	0	-18,145	0	0	-	-	-	-	-	-
Net change in other
23,232	-30,601	-13,842	-3,309	-4,458	1,803	-22,404	-19,604	-11,007	-5,982	26,128
Net cash provided by operating activities of continuing operations
130,419	166,956	109,363	-	-	-	-	-	-	-	-
Net cash (used) provided by operating activities of discontinued operations
-18,894	55,298	-31,272	-	-	-	-	-	-	-	-
Net cash provided by operating activities
111,525	222,254	78,091	98,142	86,288	55,823	127,411	28,654	40,169	40,685	11,892
Cash flows from investing activities:
Net decrease in trading security
-701	-665	-632	-599	-570	-541	-512	-486	-464	440	-
Purchases of marketable equity securities
23,841	24,538	27,435	-	-	-	-	-	-	-	-
Proceeds from sales of marketable equity securities
43,075	38,104	51,382	-	-	-	-	-	-	-	-
Payments to Acquire Debt Securities, Available-for-sale
120,000	258,000	471,211	-	285,637	575,504	443,906	124,183	201,527	109,690	143,458
Proceeds from sales of securities available for sale
136,000	500	137,539	-	41,169	143,488	19,400	85,711	9,522	-	6,303
Proceeds from sales of marketable equity securities and securities available for sale
-	-	-	421,843	-	-	-	-	-	-	-
Purchases of marketable equity securities and securities available for sale
-	-	-	400,053	-	-	-	-	-	-	-
Proceeds from maturities, calls, and prepayments of securities available for sale
240,586	188,076	206,648	166,736	184,753	131,202	113,749	102,590	119,939	121,326	72,473
Purchases of securities held to maturity
7,260	15,391	77,208	7,115	62,274	3,227	2,888	21,965	13,101	18,713	47,191
Proceeds from maturities, calls, and prepayments of securities held to maturity
21,602	36,746	12,600	7,734	8,534	4,800	8,991	30,282	10,625	19,897	15,438
Net change in loans
694,657	801,876	468,331	334,347	388,091	481,846	181,039	160,204	44,849	192,306	-7,377
Acquisitions, net of cash paid
110,774	0	374,611	-	-	-	-	-	-	-	-
Net cash used for branch sale
-	-	-	-	11,715	0	0	48,890	85,733	-	-
Proceeds from surrender of bank-owned life insurance
2,451	854	310	258	554	0	186	766	-	2,217	-
Purchase of bank-owned life insurance
0	0	20,000	0	0	-	10,000	-	-	10,000	-
Purchase of Federal Home Loan Bank stock
112,208	76,090	88,351	19,555	10,706	10,778	12,932	-	1,387	-	-
Proceeds from sales of Federal Home Loan Bank stock
149,455	61,831	96,378	19,461	2,357	5,340	2,434	6,781	3,601	-	-
Net investment in limited partnership tax credits
4,387	4,724	5,102	7,616	5,105	5,384	0	565	4,909	537	3,197
Proceeds from sale of premises and equipment
-	-	-	226	2,261	2,315	0	260	718	-	-
Purchase of premises and equipment, net
10,565	9,349	11,256	9,101	7,340	8,451	13,103	18,890	7,988	5,020	3,529
Proceeds from sales of seasoned commercial loan portfolios
81,147	0	0	-	-	-	-	-	-	-	-
Acquisitions, net of cash (paid) acquired
-	-	-	48,180	-74,324	-423,416	0	111,328	-179,308	-	-
Payment to terminate cash flow hedges
0	0	6,573	0	0	-	-	-	-	-	-
Proceeds from sales of other real estate owned
150	1,600	590	1,515	1,854	4,784	3,416	3,626	1,230	-	-
Net investing cash flows (used) by discontinued operations
-313	-377	-1,272	-	-	-	-	-	-	-	-
Net cash provided (used) by investing activities
1,202,582	-861,517	-282,903	-207,595	-454,492	-369,304	-515,194	-255,523	-34,087	-192,386	-95,784
Cash flows from financing activities:
Net increase in deposits
23,996	233,704	418,550	140,730	475,823	340,856	-225,070	167,002	207,919	217,679	157,182
Proceeds from Federal Home Loan Bank advances and other borrowings
5,384,982	4,767,766	5,978,358	9,364,599	8,566,300	5,432,069	1,488,182	485,625	125,480	259,535	208,860
Repayments of Federal Home Loan Bank advances and other borrowings
6,228,780	4,387,223	6,174,781	9,365,159	8,620,064	5,443,853	872,163	465,970	296,249	305,902	276,813
Net proceeds from reissuance of treasury stock
-	-	-	-	-	-	-	-	252	-	-
Issuance of common stock, net
0	0	152,985	0	0	-	-	-	-	-	32,365
Issuance of long term debt, net
-	-	-	-	-	-	-	74,138	-	-	-
Purchase of treasury stock
52,746	0	0	-	550	2,467	12,249	-3,044	-	-	-
Exercise of stock options
188	326	329	3,712	239	1,064	3,045	-	-	1,004	344
Excess tax loss from stock-based payment arrangements
-	-	-	-	167	102	1,451	1,126	68	-94	-
Redemption of preferred stock
-	-	-	-	-	-	-	-	-	-	40,000
Repurchase of warrant issued with preferred stock
-	-	-	-	-	-	-	-	-	-	1,040
Preferred stock cash dividends paid
-	-	-	-	-	-	-	-	-	-	806
Common and preferred stock cash dividends paid
45,107	40,884	33,241	24,916	21,903	18,075	18,118	15,634	11,910	8,989	8,390
Acquisition contingent consideration paid
0	0	1,700	0	0	-	-	-	-	-	-
Net cash (used) provided by financing activities
-917,467	573,689	340,500	118,966	400,012	309,696	365,078	249,331	25,560	163,233	71,702
Net change in cash and cash equivalents
396,640	-65,574	135,688	9,513	31,808	-3,785	-22,705	22,462	31,642	11,532	-12,190
Supplemental cash flow information:
Interest paid on deposits
119,695	74,565	43,133	28,777	22,130	18,439	20,967	22,921	23,750	26,748	32,614
Interest paid on borrowed funds
33,406	32,274	21,336	16,674	9,974	9,988	14,056	9,376	8,292	8,174	13,690
Income taxes paid, net
19,818	3,029	18,323	16,229	429	746	-3,729	8,869	-164	-3,452	1,970
Acquisition of non-cash assets and liabilities:
Assets acquired
1,595,054	0	1,584,786	1,169,086	948,796	18,064	0	1,185,957	1,193,018	-	-
Liabilities assumed
1,530,010	0	1,959,489	965,529	762,261	441,550	1,672	-969,598	-1,041,910	-	-
Acquisition's stock owned by the Company
-	-	-	-	-	-	-	5,193	6,284	-	-
Other non-cash changes:
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
25,463	-12,274	-5,605	13,071	-9,884	15,636	-6,078	1,906	1,525	-3,442	8,606
Real estate owned acquired in settlement of loans
0	1,600	490	340	2,085	4,500	4,378	2,243	-	4,486	-
Transfer of Portfolio Loans and Leases to Held-for-sale
120,307	0	0	-	-	-	-	-	-	-	-
Goodwill measurement period adjustment
942	0	0	-	-	-	-	-	-	-	-