Carolina Financial Corporation CARO Cash Flow

Carolina financial corporation (CARO)

CashFlow / TTM

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Cash flows from operating activities:
Net income
62,740	61,691	60,267	60,159	49,670	40,555	33,344	27,717	28,565	27,386	25,334	18,831	17,570	16,029	13,969	15,050	14,420	12,529	11,048	9,380	8,311	10,655	11,055	14,339	16,818	0	0	0
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for loan losses
2,580	0	0	0	-	-	-	-	779	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-860	0	0	0
Deferred income tax expense (benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-177	-135	-2,207	542	0	0	0
Amortization of unearned discount/premium on investments, net
-4,250	-3,989	-5,099	-4,342	-4,595	-4,747	426	-4,311	-3,856	-3,042	-2,979	-2,970	-3,039	-8,516	-3,728	-3,584	-3,416	1,481	-3,191	-3,033	-2,802	-2,360	-2,156	-3,447	-2,318	0	0	0
Accretion of deferred loan fees
-2,656	-1,398	-2,653	-2,578	-2,386	-1,215	-2,848	-742	-1,279	1,107	1,028	803	674	794	733	826	955	-893	-278	224	550	2,848	3,050	6,415	4,424	0	0	0
Accretion of acquired loans
7,559	8,737	11,671	11,226	9,846	10,546	-1,982	1,016	4,286	-510	531	-442	-814	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of core deposit intangibles
-2,910	-2,967	-3,253	-3,082	-3,139	-2,941	863	-1,710	-1,037	-585	-528	-454	-407	0	0	0	-	-	-	-	-47	-1,816	-2,026	-3,509	-2,444	0	0	0
Net gain (loss) on sale of securities
3,891	4,237	2,632	-55	-1,946	-2,533	-1,316	51	933	1,239	982	474	706	675	1,581	1,439	1,493	1,850	1,046	1,239	1,084	-49	-599	-825	-1,125	0	0	0
Mortgage banking income
19,326	17,393	15,014	14,912	15,295	15,319	15,260	15,333	15,140	15,781	17,761	17,659	17,226	16,510	15,658	16,575	17,417	16,608	15,149	13,471	11,908	12,200	14,245	21,018	29,914	0	0	0
Amortization of core deposit intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Originations of loans held for sale
907,427	830,288	781,885	801,697	852,929	906,515	926,061	925,965	909,627	929,850	977,006	963,528	972,422	953,807	937,965	1,020,575	1,060,241	1,066,102	1,083,304	1,020,233	982,204	1,009,078	1,073,163	2,329,859	1,616,594	0	0	0
Proceeds from sale of loans held for sale
912,443	836,155	807,851	817,428	886,544	924,546	939,362	939,361	922,431	955,636	994,924	991,697	999,853	966,646	979,366	1,058,400	1,076,796	1,085,327	1,084,971	1,012,663	990,097	1,028,042	1,134,912	1,404,632	1,760,073	0	0	0
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-1,868	-210	-92	-1,260	-1,251	0	0	0	-	-	-	-	-	-	-	-
Amortization of fair value adjustments on subordinated debentures
-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Recovery of mortgage loan repurchase losses
-400	-450	-500	-550	-600	-675	-750	-825	-900	-925	-950	-975	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-750	20	1,036	1,746	2,438	0	0	0
Mortgage repurchase loan losses paid, net of recoveries
-	-	-	-	-	-	-	-	-88	-76	-51	-47	4	42	-7	-66	-123	-186	-171	-200	-360	-650	-1,196	-1,318	-1,211	0	0	0
Fair value adjustments on interest rate swaps
-3,659	-6,754	-5,130	-2,514	-340	2,302	1,764	1,243	382	961	970	813	590	-266	-1,611	-797	-1,111	-1,849	-659	-1,510	-1,170	-345	-353	173	428	0	0	0
Stock-based compensation
3,143	2,770	2,793	2,813	2,700	2,517	2,239	1,972	1,658	1,472	1,348	1,220	1,271	1,182	1,107	1,019	874	788	701	595	617	595	564	529	303	0	0	0
Increase in cash surrender value of bank owned life insurance
1,591	1,573	1,509	1,522	1,530	3,028	833	937	1,116	-952	-911	-884	-902	-1,965	-1,554	-1,133	-726	-120	-332	-712	-731	267	267	398	267	0	0	0
Depreciation
4,359	4,339	4,335	4,294	4,181	3,959	3,538	3,152	2,756	2,396	2,238	2,068	1,972	1,917	1,868	1,823	1,778	1,688	1,534	1,385	1,229	1,098	1,024	964	918	0	0	0
Loss (gain) on disposals of premises and equipment
-	-	-	-	-	-	-	-	-23	-3	-3	-3	1	-2	-2	-1	-11	-8	-16	-17	-8	0	0	0	-	-	-	-
Loss (gain) on sale of real estate acquired through foreclosure
149	-338	117	-329	-110	13	-107	53	-33	73	168	89	88	61	-22	42	10	-41	-28	36	91	253	354	518	425	0	0	0
Write-down of real estate acquired through foreclosure
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-526	-531	-737	-1,151	-849	0	0	0
Gain on sale of servicing assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	775	6,264	6,264	6,265	5,489	0	0	0
Originations of mortgage servicing rights
-1,368	-2,140	-2,377	-4,924	-6,283	-6,555	-7,557	-6,327	-6,061	-6,624	-6,866	-6,295	-5,911	-4,662	-3,872	-3,643	-3,238	-3,104	-2,626	-2,141	-1,868	-1,853	-2,728	-4,109	-6,860	0	0	0
Amortization of mortgage servicing rights
5,721	5,390	4,916	4,463	4,206	3,850	3,499	3,276	2,966	2,736	2,574	2,449	2,312	2,185	2,114	2,058	1,986	0	0	0	-	-	-	-	-	-	-	-
Accrued interest receivable
-389	-361	2,748	2,116	1,502	7,253	5,379	5,959	6,619	1,324	1,160	753	754	427	409	471	705	954	869	1,091	668	321	347	-602	-401	0	0	0
Income taxes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0
Prepaid FDIC insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,035	0	0	0
Other assets
-5,865	-2,481	637	1,857	10,670	-16,695	-19,837	-15,305	-29,271	-2,230	203	-4,470	-1,737	-2,388	-5,768	-3,215	416	-907	753	-662	464	1,801	-2,390	-939	-906	0	0	0
Increase (decrease) in:
Accrued interest payable
336	216	890	1,083	465	998	1,063	856	799	449	142	60	-28	20	6	18	21	5	2	8	1	-65	-1,547	-1,405	-1,288	0	0	0
Income taxes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Dividends payable to stockholders
651	423	653	732	525	934	708	477	549	270	274	214	141	83	128	118	118	91	42	43	243	202	202	201	0	0	0	0
Accrued expenses and other liabilities
126	-1,694	1,069	5,372	106	1,320	890	-9,254	-6,588	-7,469	-8,564	3,157	2,365	1,141	-740	-1,269	-5,224	4,625	3,739	1,824	4,116	-5,289	-7,496	-7,230	-3,391	0	0	0
Cash flows provided by (used in) operating activities
57,784	57,346	73,712	63,406	69,406	21,938	13,921	1,581	-8,678	25,533	14,629	27,821	28,764	11,858	35,356	34,266	11,102	22,461	4,959	-7,247	10,495	23,130	55,500	78,731	129,238	0	0	0
Cash flows from investing activities:
Activity in available-for-sale securities:
Purchases
250,572	234,320	249,337	314,283	351,329	429,979	417,083	353,324	345,815	251,841	222,191	195,609	165,510	134,189	175,702	193,813	207,316	248,175	230,517	214,963	193,577	167,628	163,341	259,370	177,284	0	0	0
Maturities, payments and calls
125,305	109,957	90,332	105,324	105,005	117,656	110,986	87,228	77,781	53,271	57,168	57,121	57,909	55,765	53,327	52,943	52,906	49,919	44,985	41,962	37,782	34,942	39,513	45,589	51,180	0	0	0
Proceeds from sales
151,389	170,446	186,394	155,537	135,681	186,900	178,006	187,208	173,727	132,668	129,331	102,332	99,113	81,098	94,834	113,167	105,840	113,375	108,149	92,234	74,901	89,137	74,372	95,255	91,653	0	0	0
Purchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	497	1,984	1,984	1,984	1,487	0	0	0	-	-	-	-
Maturities, payments and calls
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	199	319	419	386	536	419	657	361	299	0	0	0
Increase in other investments
-	-	-	-	-	-	-	-	-	-29	362	192	-29	-27	-592	-867	-973	-1,317	-1,119	-690	-419	-4	-178	-195	-130	0	0	0
Increase in Federal Home Loan Bank stock
117	4,261	4,381	436	2,631	3,084	4,324	5,059	6,400	-329	564	-1,157	804	0	0	0	-	-	4,318	4,393	1,302	3,102	1,077	-5,343	-2,310	0	0	0
Increase in loans receivable, net
214,221	255,054	170,638	201,929	192,852	202,178	20,271	194,333	182,467	154,089	171,009	182,718	180,077	199,507	151,488	159,577	144,812	129,517	157,376	153,738	163,846	132,848	100,373	67,959	32,386	0	0	0
Proceeds from the sale of servicing assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,575	12,611	12,611	12,612	11,036	0	0	0
Purchases of premises and equipment
5,703	2,550	1,707	2,332	3,724	7,301	7,237	7,221	7,002	5,584	5,731	5,228	3,714	2,157	2,735	2,665	3,329	4,004	3,864	3,758	4,017	3,357	3,557	3,568	2,136	0	0	0
Proceeds from disposals of premises and equipment
-	-	-	-	-	-	-	-	-	-	-	-	1	1	1	1	34	34	34	34	0	0	0	0	-	-	-	-
Proceeds from sale of real estate acquired through foreclosure
1,065	941	1,198	1,026	1,840	1,725	1,476	1,883	660	2,634	3,185	2,639	3,898	2,423	2,451	3,224	2,182	2,602	3,433	3,149	4,060	3,936	4,023	4,401	3,727	0	0	0
Increase in core deposit intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Purchase of bank owned life insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,847	6,025	-525	-347	203	0	364	372	20,106	20,053	0	0	0
Distribution of bank owned life insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	175	175	175	175	0	0	132	107	223	0	0	0
Net cash received for acquisitions
-	-	-	-	-	-	-	-	122,320	37,764	37,765	41,290	3,668	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows (used in) investing activities
-120,569	-214,841	-189,057	-257,083	-308,000	-255,093	-280,126	-199,316	-167,221	-187,168	-172,189	-182,746	-185,570	-198,220	-180,746	-193,398	-206,130	-87,777	-110,326	-110,480	-114,659	-184,177	-155,460	-142,871	-89,251	0	0	0
Cash flows from financing activities:
Net increase in deposit accounts
152,355	83,591	97,311	140,101	113,264	99,596	92,696	116,876	83,230	84,312	89,475	79,557	137,407	189,000	168,015	138,123	67,338	34,878	11,191	28,860	51,488	71,319	87,975	81,860	44,334	0	0	0
Net (decrease) increase in Federal Home Loan Bank advances
3,178	-94,576	-16,146	-4,677	-52,177	-96,272	-142,272	-71,772	-100,772	-13,042	7,076	-33,377	13,632	120,138	80,520	106,258	104,249	24,296	138,696	77,942	34,942	52,999	-28,870	105,019	47,519	0	0	0
Net increase in other short-term borrowed funds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-6,186	-4,682	0	0	0
Principal repayment of subordinated debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,575	-1,500	1,725	300	300	10,300	10,300	10,450	10,300	0	0	0
Net (decrease) increase in drafts outstanding
-327	-2,075	3,454	-2,523	805	2,963	6,585	3,004	1,101	1,665	-389	5,434	4,069	1,308	2,083	-1,342	-1,166	577	-369	1,127	617	4	-138	249	-307	0	0	0
Net (decrease) increase in advances from borrowers for insurance and taxes
-820	1,488	1,957	2,632	1,095	2,272	1,874	1,265	1,947	549	1,092	1,063	417	974	235	55	28	789	648	462	329	164	70	-41	-329	0	0	0
Cash dividends paid on common stock
8,021	7,371	6,948	6,296	5,563	4,633	3,700	2,921	2,371	2,117	1,831	1,616	1,475	1,083	1,015	898	781	775	683	649	606	813	812	602	401	0	0	0
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	70	71	64	83	50	0	0	0	-	-	-	-
Issuance of common stock, net of offering expenses
-	-	-	63,212	63,022	63,022	63,022	56	47,671	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock repurchase plan, net of commissions
-7,115	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in excess tax benefit in connection with equity awards
-	-	-	-	-	-	-	-	-	-	-	-	454	421	414	204	189	0	0	0	-	-	-	-	-	-	-	-
Cash flows provided by financing activities
133,855	158,425	101,684	192,321	219,475	263,858	303,254	190,501	232,799	168,558	156,260	193,216	154,531	202,593	162,321	163,039	200,508	58,375	108,073	127,687	86,646	132,923	101,296	55,004	-19,161	0	0	0
Net increase (decrease) in cash and cash equivalents
71,070	930	-13,661	-1,356	-19,119	30,703	37,049	-7,234	56,900	6,923	-1,300	38,291	-2,275	16,231	16,931	3,907	5,480	-6,941	2,706	9,960	-17,518	-28,124	1,336	-9,136	20,826	0	0	0
Supplemental disclosure:
Interest on deposits and borrowed funds
37,007	36,605	33,403	29,930	26,783	22,932	19,142	15,800	12,454	10,335	9,517	8,726	8,759	8,372	7,757	7,173	6,583	6,108	5,927	5,763	5,601	5,603	7,047	6,952	7,006	0	0	0
Income taxes paid, net of refunds
10,738	12,694	13,575	6,857	6,822	8,102	7,559	11,526	11,521	11,195	7,925	5,189	7,101	6,694	8,753	8,872	7,160	4,753	2,244	1,004	3,553	4,501	6,223	11,327	11,556	0	0	0
Noncash investing activities:
Transfer of loans receivable to real estate acquired through foreclosure
1,299	1,316	808	634	285	1,775	1,888	2,290	2,554	2,791	2,595	2,911	2,630	1,001	1,014	1,107	1,307	1,326	1,314	824	1,461	2,258	2,183	4,101	4,140	0	0	0
Transfer of held-to-maturity securities to available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Acquisitions:
Fair value of tangible assets acquired
-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assets acquired, net of cash
-	-	-	-	-	-	-	-	1,356,242	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities assumed
-	-	-	-	-	-	-	-	1,345,119	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (liabilities) assets
-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued in acquisition
-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
-	-	-	-	-	-	-	-	123,325	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in unrealized gain on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-