COMMUNITY BANK SYSTEM, INC. CBU Cash Flow

Community bank system, inc. (CBU)

CashFlow / TTM

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
167,251	169,063	167,002	170,890	170,481	168,641	199,844	191,981	164,566	150,717	105,083	97,000	105,666	103,812	97,491	95,353	93,336	91,230	94,292	91,640	91,477	91,353	83,697	83,316	80,761	78,829	82,156	78,534	78,483	77,068	77,252	78,893	75,808	73,142	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
16,140	15,891	15,676	15,470	15,578	15,749	15,852	16,208	16,356	16,024	15,682	15,023	14,511	14,398	14,054	13,749	13,441	13,132	13,101	13,089	13,043	13,082	12,979	12,815	12,515	12,236	12,053	11,878	11,680	11,482	11,253	11,266	11,444	11,374	0	0	0
Amortization of intangible assets
15,493	15,956	16,369	16,836	17,487	18,155	18,741	19,263	18,971	16,941	13,255	9,665	6,805	5,479	5,225	4,709	4,186	3,663	3,636	3,844	4,065	4,287	4,354	4,392	4,431	4,469	4,672	4,795	4,700	4,607	4,473	4,422	4,566	4,381	0	0	0
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.
6,345	6,176	6,808	8,082	9,134	9,404	9,348	9,058	8,427	6,619	5,556	4,510	3,900	4,405	4,450	4,024	3,605	3,289	2,739	3,443	3,474	3,533	4,772	5,195	5,136	5,959	-9,465	-9,604	-8,900	-9,379	8,184	6,526	6,057	5,373	0	0	0
Stock-based compensation
5,846	5,285	5,455	5,425	5,740	6,064	5,759	5,803	5,442	5,137	5,376	5,293	4,974	4,783	4,429	4,271	4,269	4,201	4,084	4,055	3,962	3,993	4,020	3,942	3,923	3,961	3,827	3,739	3,665	3,668	3,601	3,528	3,745	3,784	0	0	0
Provision for credit losses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	-	-	-	10,837	13,723	13,822	12,835	10,984	8,243	7,719	8,563	8,076	8,763	8,879	7,165	6,447	5,651	5,492	6,801	7,178	7,832	8,178	7,599	7,992	7,473	8,023	8,857	9,108	8,035	6,435	5,330	4,736	0	0	0
Amortization of mortgage servicing rights
362	378	394	408	430	449	465	480	490	499	506	509	513	518	488	460	436	409	414	422	431	444	457	481	504	529	560	598	641	687	737	787	832	868	0	0	0
Unrealized (loss) gain on equity securities
-42	19	-37	696	688	657	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt prepayment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-87,336	-63,500	-63,500	-47,783	0	0	0	0	-	-	-	-
Income from bank-owned life insurance policies
1,695	1,678	1,617	1,564	1,582	1,579	1,593	1,624	1,606	1,586	1,551	1,515	1,518	1,505	1,435	1,307	1,168	1,086	1,052	1,041	1,021	1,037	1,051	1,054	1,072	1,066	1,063	1,108	1,133	1,121	1,146	1,056	1,052	894	0	0	0
Gain on sales of investment securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	80,768	0	0	0	-	-	-	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.
2	-11	-125	-85	-22	80	181	222	-154	-181	58	262	822	837	756	519	424	180	-142	-69	-150	154	335	132	-58	-257	-266	-516	-489	-247	-88	-20	205	422	0	0	0
Net change in loans originated for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	793	1,104	-48	-608	-125	-1,085	-633	-4,047	0	0	0
Change in other assets and other liabilities
6,923	-2,545	19,866	6,888	15,865	-10,252	-4,432	-2,427	-27,913	-26,090	-16,753	-15,769	-3,270	7,614	-7,213	-3,393	3,500	5,681	12,055	3,590	6,710	970	17	16,336	7,693	11,762	19,404	-4,053	8,253	292	7,008	15,943	7,855	14,268	0	0	0
Net cash provided by operating activities
194,587	202,502	182,616	198,515	195,030	221,408	218,596	210,407	208,000	189,674	170,799	157,757	151,128	135,771	141,742	135,684	124,856	119,566	112,677	117,850	116,192	122,104	122,332	105,688	109,587	103,184	92,187	112,212	101,052	108,424	101,946	95,928	100,192	94,378	0	0	0
Investing activities:
Proceeds from sales of available-for-sale investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	713,694	711,540	678,128	404,032	5,378	0	0	0	-	-	-	-
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities
219,090	209,857	192,020	170,252	165,941	140,784	149,667	153,145	151,162	157,278	132,913	133,908	124,223	109,638	124,738	129,431	151,786	169,562	167,763	159,356	154,721	137,282	176,400	188,243	200,450	234,021	229,114	224,849	231,283	215,223	247,329	254,778	254,350	254,368	0	0	0
Proceeds from sales of other securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Proceeds from maturities of held-to-maturity investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,595	34,897	39,753	32,100	28,340	31,427	59,037	57,914	65,062	0	0	0
Proceeds from maturities and redemptions of equity and other investment securities
1,939	3,995	833	996	3,367	5,867	9,828	27,518	26,367	30,116	28,233	15,708	5,115	8,703	10,668	4,619	7,683	1,790	173	171	6,406	13	26,661	26,663	26,660	26,649	0	0	0	-	-	-	-	-	-	-	-
Purchases of available-for-sale investment securities
831,331	810,122	116,709	107,288	68,085	78,131	78,450	87,207	97,030	90,380	84,928	72,571	70,495	65,966	49,027	82,490	362,044	503,000	504,833	464,847	202,805	310,517	556,867	778,557	1,062,846	923,588	674,658	467,809	325,302	752,891	922,384	930,130	815,957	353,498	0	0	0
Proceeds from maturities of other securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
The cash outflow to acquire equity and other securities.
196	202	144	154	34	31	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of held-to-maturity investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,308	8,906	8,852	9,117	110,925	113,185	114,164	114,626	13,292	0	0	0
Purchases of other securities
-	-	-	-	-	-	-	-	-	-	0	0	505	-	-5,335	-5,700	4,612	0	9,686	9,707	4,116	7,500	7,759	8,103	3,384	0	603	-18,506	-7,575	615	-153	22,029	11,105	2,908	0	0	0
Net decrease in loans
126,783	140,382	84,264	57,518	49,467	35,414	6,353	-108,399	-178,549	-164,846	-108,542	-19,206	125,643	159,871	241,074	254,564	268,798	176,754	106,668	124,943	77,583	137,207	200,074	219,848	241,180	248,962	215,511	216,896	244,805	239,174	180,114	67,835	-48,822	-16,078	0	0	0
Cash paid for acquisitions, net of cash acquired of $0 and $0, respectively
3,453	4,653	4,653	1,200	1,473	1,737	3,749	3,749	45,361	107,414	105,402	105,402	63,517	575	-24,930	-24,930	-24,930	-25,505	0	0	0	924	-291,056	-291,056	-291,056	-291,980	0	0	0	-	-	-	-	-	-	0	0
Purchases of premises and equipment, net
7,479	5,686	8,768	11,311	12,317	12,646	12,021	10,727	10,287	10,819	12,311	12,263	11,891	12,442	11,048	12,159	11,718	12,400	14,721	15,359	15,302	13,376	10,468	10,327	12,748	13,855	14,969	14,069	12,788	10,846	9,821	9,510	8,036	9,613	0	0	0
Real estate tax credit investments
1,623	1,637	1,342	564	1,682	1,197	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by investing activities
-158,060	-157,054	568,749	583,392	36,250	17,495	56,093	173,573	191,549	131,371	57,038	-20,436	-139,586	-121,998	88,239	39,184	-241,637	-274,161	-466,975	-454,332	-137,582	-331,132	165,417	-34,712	-36,860	553,258	68,136	873,099	700,965	-264,260	-339,627	-848,824	-616,272	-22,695	0	0	0
Financing activities:
Net increase in deposits
116,159	104,435	136,383	-25,788	-151,430	-122,049	-142,169	-111,610	-14,191	-79,940	80,165	219,343	217,815	202,480	230,068	171,793	293,274	238,969	180,779	115,525	87,659	39,220	-23,458	-2,291	-39,392	-35,451	-21,296	-38,184	24,855	34,832	71,914	153,250	159,422	89,646	0	0	0
Net decrease in borrowings
-45,535	-64,405	-41,318	-39,495	-29,911	-47,339	-37,730	-189,268	-79,947	-144,809	-181,302	-256,238	-33,700	-155,100	-424,200	-298,600	-162,000	-36,700	214,295	246,792	-21,410	196,087	-247,147	-26,747	-183,865	-673,484	-224,500	-899,053	-596,788	-220	-219	429,432	162,283	-19,938	0	0	0
Issuance of common stock
14,158	6,915	3,161	3,020	5,029	6,443	6,617	6,378	3,324	4,563	6,727	9,490	11,420	10,543	8,942	8,043	7,765	9,774	11,690	9,431	7,514	9,417	9,282	13,472	15,171	15,239	13,134	10,494	8,632	64,145	66,161	64,516	64,452	5,351	0	0	0
Purchases of treasury stock
281	286	291	293	296	298	300	378	3,387	3,306	0	0	0	-	-	-	-	9,126	13,493	13,493	13,493	4,368	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Sales of treasury stock
5,078	6,884	11,997	9,727	11,900	12,561	9,425	10,065	10,455	10,060	9,824	8,929	6,017	8,888	18,024	18,636	19,346	16,571	7,003	5,594	3,778	1,531	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Increase in deferred compensation arrangements
281	286	291	293	296	298	300	378	3,387	3,306	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid
81,703	80,241	78,503	76,265	74,020	71,495	69,252	68,067	65,400	62,305	59,224	56,681	55,629	55,048	53,572	52,129	50,704	49,273	48,773	47,919	47,061	46,178	45,249	44,674	44,074	43,482	42,903	42,367	41,855	40,765	39,660	38,232	36,037	34,404	0	0	0
Withholding taxes paid on share-based compensation
-1,031	-3,159	-3,200	-3,217	-3,176	-1,021	-1,015	-1,019	-1,077	-1,433	-4,281	-4,225	-4,156	-1,419	-874	-431	-85	-806	2,133	1,696	1,519	2,068	2,118	2,594	2,552	1,825	1,694	1,470	1,382	1,524	1,361	1,139	1,077	703	0	0	0
Net cash provided by financing activities
-15,555	-52,252	5,839	-157,225	-266,815	-248,107	-259,331	-353,521	-146,836	-273,864	-147,899	-79,260	141,131	6,874	-225,275	-156,281	104,761	169,409	353,634	317,626	18,506	197,777	-304,454	-57,646	-249,608	-735,353	-273,871	-967,640	-603,774	59,516	99,557	610,105	351,197	41,358	0	0	0
Change in cash and cash equivalents
20,972	-6,804	757,204	624,682	-35,535	-9,204	15,358	30,459	252,713	47,181	79,938	58,061	152,673	20,647	4,706	18,587	-12,020	14,814	-664	-18,856	-2,884	-11,251	-16,705	13,330	-176,881	-78,911	-113,548	17,671	198,243	-96,320	-138,124	-142,791	-164,883	113,041	0	0	0
Supplemental disclosures of cash flow information:
Cash paid for interest
26,629	25,425	23,511	21,755	19,853	17,926	16,483	15,591	14,755	13,705	12,803	11,589	11,112	11,268	11,560	11,620	11,473	11,252	11,107	11,080	11,397	11,937	15,285	17,961	21,604	30,141	36,121	43,124	49,436	51,541	54,949	58,205	60,506	61,564	0	0	0
Cash paid for income taxes
51,613	46,457	43,742	39,360	34,188	30,266	28,718	33,758	32,751	41,231	41,709	38,219	34,218	32,239	31,274	29,774	30,249	28,891	31,264	31,284	35,000	29,457	23,847	23,344	19,644	23,648	19,573	18,575	17,539	16,462	22,277	20,776	23,777	20,810	0	0	0
Supplemental disclosures of noncash financing and investing activities:
Transfers from loans to other real estate
2,889	2,522	2,706	2,633	2,769	3,299	3,474	3,315	3,540	3,518	2,945	3,589	3,142	2,612	3,146	3,184	3,812	3,943	3,369	2,826	2,304	2,546	5,412	6,436	6,692	8,325	7,512	6,521	6,716	5,059	3,746	3,758	5,013	5,186	0	0	0
Acquisitions:
Common stock issued for acquisition
-	-	-	-	-	-	-	-	264,649	343,132	340,737	340,737	78,483	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of assets acquired, excluding acquired cash and intangibles
-	-	-	-	-	115	439	426	1,929,674	1,961,246	1,960,922	1,960,935	31,599	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of liabilities assumed
-	-	-	-	-	31	626	604	1,839,980	1,870,449	1,869,854	1,869,876	30,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-