COMMUNITY BANK SYSTEM, INC. CBU Cash Flow

Community bank system, inc. (CBU)

CashFlow / Quarterly

Mar'20	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	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating activities:
Net income
40,134	42,884	39,218	45,015	41,946	40,823	43,106	44,606	40,106	72,026	35,243	17,191	26,257	26,392	27,160	25,857	24,403	20,071	25,022	23,840	22,297	23,133	22,370	23,677	22,173	15,477	21,989	21,122	20,241	18,804	18,367	21,071	18,826	18,988	20,008	17,986	16,160
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
4,079	4,110	4,101	3,850	3,830	3,895	3,895	3,958	4,001	3,998	4,251	4,106	3,669	3,656	3,592	3,594	3,556	3,312	3,287	3,286	3,247	3,281	3,275	3,240	3,286	3,178	3,111	2,940	3,007	2,995	2,936	2,742	2,809	2,766	2,949	2,920	2,739
Amortization of intangible assets
3,667	3,962	3,960	3,904	4,130	4,375	4,427	4,555	4,798	4,961	4,949	4,263	2,768	1,275	1,359	1,403	1,442	1,021	843	880	919	994	1,051	1,101	1,141	1,061	1,089	1,140	1,179	1,264	1,212	1,045	1,086	1,130	1,161	1,189	901
The sum of periodic adjustments charged to earnings related to investment securities, loans and borrowings. As a noncash item this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method.
2,113	1,631	1,083	1,518	1,944	2,263	2,357	2,570	2,214	2,207	2,067	1,939	406	1,144	1,021	1,329	911	1,189	595	910	595	639	1,299	941	654	1,878	1,722	882	1,477	-13,546	1,583	1,586	998	4,017	-75	1,117	314
Stock-based compensation
1,952	1,287	1,241	1,366	1,391	1,457	1,211	1,681	1,715	1,152	1,255	1,320	1,410	1,391	1,172	1,001	1,219	1,037	1,014	999	1,151	920	985	906	1,182	947	907	887	1,220	813	819	813	1,223	746	746	1,030	1,262
Provision for credit losses
5,594	-	-	-	2,422	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	-	-	-	2,495	2,215	2,448	3,679	5,381	2,314	1,461	1,828	2,640	1,790	2,305	1,341	3,327	1,906	591	623	2,531	1,747	1,900	1,000	3,185	2,093	1,321	1,393	2,666	2,643	2,155	1,644	1,593	1,043	1,050	1,050
Amortization of mortgage servicing rights
82	93	97	90	98	109	111	112	117	125	126	122	126	132	129	126	131	102	101	102	104	107	109	111	117	120	133	134	142	151	171	177	188	201	221	222	224
Unrealized (loss) gain on equity securities
-30	-9	10	-13	31	-65	743	-21	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt prepayment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23,836	0	-15,717	-47,783	0	0	0	0	-	-	-	-
Income from bank-owned life insurance policies
408	463	446	378	391	402	393	396	388	416	424	378	368	381	388	381	355	311	260	242	273	277	249	222	289	291	252	240	283	288	297	265	271	313	207	261	113
Gain on sales of investment securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,969	0	16,008	47,791	-	-	-	0	-	-	-	-
The gains (losses) included in earnings that represent the difference between the sale price and the carrying value of loans and leases and other assets that were sold during the reporting period. This element refers to the gain (loss) and not to the cash proceeds of the sales. This element is a adjustment to net income when calculating net cash generated by operating activities using the indirect method.
-9	-13	21	3	-22	-127	61	66	80	-26	102	-310	53	213	306	250	68	132	69	155	-176	-190	142	74	128	-9	-61	-116	-71	-18	-311	-89	171	141	-243	136	388
Net change in loans originated for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-110	-155	7	-	-223	1,138	-2	-120	88	-14	-562	363	-872	438	-3,976
Change in other assets and other liabilities
26,332	-22,697	9,746	-6,458	16,864	-286	-3,232	2,519	-9,253	5,534	-1,227	-22,967	-7,430	14,871	-243	-10,468	3,454	44	3,577	-3,575	5,635	6,418	-4,888	-455	-105	5,465	11,431	-9,098	3,964	13,107	-12,026	3,208	-3,997	19,823	-3,091	-4,880	2,416
Net cash provided by operating activities
26,694	73,516	39,062	55,315	34,609	53,630	54,961	51,830	60,987	50,818	46,772	49,423	42,661	31,943	33,730	42,794	27,304	37,914	27,672	31,966	22,014	31,025	32,845	30,308	27,926	31,253	16,201	34,207	21,523	20,256	36,226	23,047	28,895	13,778	30,208	27,311	23,081
Investing activities:
Proceeds from sales of available-for-sale investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,154	38,790	274,096	398,654	0	5,378	0	0	-	-	-	-
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities
61,753	56,072	54,680	46,585	52,520	38,235	32,912	42,274	27,363	47,118	36,390	40,291	33,479	22,753	37,385	30,606	18,894	37,853	42,078	52,961	36,670	36,054	33,671	48,326	19,231	75,172	45,514	60,533	52,802	70,265	41,249	66,967	36,742	102,371	48,698	66,539	36,760
Proceeds from sales of other securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	274	1	0	-	-	-	-
Proceeds from maturities of held-to-maturity investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,521	3,059	15,700	8,315	7,823	7,915	8,047	4,555	10,910	35,525	6,924	11,703
Proceeds from maturities and redemptions of equity and other investment securities
404	737	721	77	2,460	-2,425	884	2,448	4,960	1,536	18,574	1,297	8,709	-347	6,049	-9,296	12,297	1,618	0	-6,232	6,404	1	-2	3	11	26,649	0	0	0	-	-	-	-	-	-	-	-
Purchases of available-for-sale investment securities
34,597	724,049	25,247	47,438	13,388	30,636	15,826	8,235	23,434	30,955	24,583	18,058	16,784	25,503	12,226	15,982	12,255	8,564	45,689	295,536	153,211	10,397	5,703	33,494	260,923	256,747	227,393	317,783	121,665	7,817	20,544	175,276	549,254	177,310	28,290	61,103	86,795
Proceeds from maturities of other securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,011	1,503	16,737	-	-	-	-	-	-	-	-
The cash outflow to acquire equity and other securities.
18	58	0	120	24	0	10	0	21	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of held-to-maturity investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,010	1,145	2,328	1,825	3,608	1,091	2,593	103,633	5,868	2,070	3,055	2,299
Purchases of other securities
-	-	-	-	-	-	-	-	-	-	10,987	942	505	-	0	0	4,612	-9,947	-365	10,312	0	-261	-344	4,721	3,384	-2	0	2	0	601	-19,109	10,933	8,190	-167	3,073	9	-7
Net decrease in loans
-25,446	40,362	91,563	20,304	-11,847	-15,756	64,817	12,253	-25,900	-44,817	-49,935	-57,897	-12,197	11,487	39,401	86,952	22,031	92,690	52,891	101,186	-70,013	22,604	71,166	53,826	-10,389	85,471	90,940	75,158	-2,607	52,020	92,325	103,067	-8,238	-7,040	-19,954	-13,590	24,506
Cash paid for acquisitions, net of cash acquired of $0 and $0, respectively
0	0	3,453	0	1,200	0	0	273	1,464	2,012	0	41,885	63,517	0	0	0	575	-25,505	0	0	0	0	0	0	924	-291,980	0	0	0	-	-	-	-	-	-	-6,528	270
Purchases of premises and equipment, net
3,020	661	1,062	2,736	1,227	3,743	3,605	3,742	1,556	3,118	2,311	3,302	2,088	4,610	2,263	2,930	2,639	3,216	3,374	2,489	3,321	5,537	4,012	2,432	1,395	2,629	3,871	4,853	2,502	3,743	2,971	3,572	560	2,718	2,660	2,098	2,137
Real estate tax credit investments
550	295	778	0	564	0	0	1,118	79	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by investing activities
49,418	-708,616	-65,105	566,243	50,424	17,187	-50,462	19,101	31,669	55,785	67,018	37,077	-28,509	-18,548	-10,456	-82,073	-10,921	191,689	-59,511	-362,894	-43,445	-1,125	-46,868	-46,144	-236,995	495,424	-246,997	-48,292	353,123	10,302	557,966	-220,426	-612,102	-65,065	48,769	12,126	-18,525
Financing activities:
Net increase in deposits
309,015	-173,398	111,999	-131,457	297,291	-141,450	-50,172	-257,099	326,672	-161,570	-19,613	-159,680	260,923	-1,465	119,565	-161,208	245,588	26,123	61,290	-39,727	191,283	-32,067	-3,964	-67,593	142,844	-94,745	17,203	-104,694	146,785	-80,590	315	-41,655	156,762	-43,508	81,651	-35,483	86,986
Net decrease in borrowings
-45,040	16,097	90,951	-107,543	-63,910	39,184	92,774	-97,959	-81,338	48,793	-58,764	11,362	-146,200	12,300	-133,700	233,900	-267,600	-256,800	-8,100	370,500	-142,300	-5,805	24,397	102,298	75,197	-449,039	244,797	-54,820	-414,422	-55	-429,756	247,445	182,146	-54	-105	-19,704	-75
Issuance of common stock
6,399	4,403	1,291	2,065	-844	649	1,150	4,074	570	823	911	1,020	1,809	2,987	3,674	2,950	932	1,386	2,775	2,672	2,941	3,302	516	755	4,844	3,167	4,706	2,454	4,912	1,062	2,066	592	60,425	3,078	421	528	1,324
Purchases of treasury stock
74	73	68	66	79	78	70	69	81	80	148	3,078	0	-	-	-	-	1	0	0	9,125	4,368	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Sales of treasury stock
79	222	3,322	1,455	1,885	5,335	1,052	3,628	2,546	2,199	1,692	4,018	2,151	1,963	797	1,106	5,022	11,099	1,409	1,816	2,247	1,531	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Increase in deferred compensation arrangements
74	73	68	66	79	78	70	69	81	80	148	3,078	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid
21,268	21,227	19,633	19,575	19,806	19,489	17,395	17,330	17,281	17,246	16,210	14,663	14,186	14,165	13,667	13,611	13,605	12,689	12,224	12,186	12,174	12,189	11,370	11,328	11,291	11,260	10,795	10,728	10,699	10,681	10,259	10,216	9,609	9,576	8,831	8,021	7,976
Withholding taxes paid on share-based compensation
-991	-9	0	-31	-3,119	-50	-17	10	-964	-44	-21	-48	-1,320	-2,892	35	21	1,417	-2,347	478	367	696	592	41	190	1,245	642	517	148	518	511	293	60	660	348	71	-2	286
Net cash provided by financing activities
248,194	-173,912	165,249	-255,086	211,497	-115,821	2,185	-364,676	230,205	-127,045	-92,005	-157,991	103,177	-1,080	-23,366	62,400	-31,080	-233,229	45,628	323,442	33,568	-49,004	9,620	24,322	212,839	-551,235	256,428	-167,640	-272,906	-89,753	-437,341	196,226	390,384	-49,712	73,207	-62,682	80,545
Change in cash and cash equivalents
324,306	-809,012	139,206	366,472	296,530	-45,004	6,684	-293,745	322,861	-20,442	21,785	-71,491	117,329	12,315	-92	23,121	-14,697	-3,626	13,789	-7,486	12,137	-19,104	-4,403	8,486	3,770	-24,558	25,632	-181,725	101,740	-59,195	156,851	-1,153	-192,823	-100,999	152,184	-23,245	85,101
Supplemental disclosures of cash flow information:
Cash paid for interest
6,888	6,970	6,730	6,041	5,684	5,056	4,974	4,139	3,757	3,613	4,082	3,303	2,707	2,711	2,868	2,826	2,863	3,003	2,928	2,679	2,642	2,858	2,901	2,996	3,182	6,206	5,577	6,639	11,719	12,186	12,580	12,951	13,824	15,594	15,836	15,252	14,882
Cash paid for income taxes
9,642	12,307	12,375	17,289	4,486	9,592	7,993	12,117	564	8,044	13,033	11,110	9,044	8,522	9,543	7,109	7,065	7,557	8,043	7,584	5,707	9,930	8,063	11,300	164	4,320	7,560	7,600	4,168	245	6,562	6,564	3,091	6,060	5,061	9,565	124
Supplemental disclosures of noncash financing and investing activities:
Transfers from loans to other real estate
779	689	654	767	412	873	581	903	942	1,048	422	1,128	920	475	1,066	681	390	1,009	1,104	1,309	521	435	561	787	763	3,301	1,585	1,043	2,396	2,488	594	1,238	739	1,175	606	2,493	912
Acquisitions:
Common stock issued for acquisition
-	-	-	-	-	-	-	-	0	2,395	0	262,254	78,483	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of assets acquired, excluding acquired cash and intangibles
-	-	-	-	-	0	0	88	27	324	-13	1,929,336	31,599	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of liabilities assumed
-	-	-	-	-	0	0	0	31	595	-22	1,839,376	30,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-