CONNECTONE BANCORP, INC. CNOB Cash Flow

Connectone bancorp, inc. (CNOB)

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
Cash flows from operating activities
Cash flows from operating activities
Net income
6,030	20,783	21,696	19,281	11,635	18,672	19,902	17,527	4,251	10,580	13,077	7,683	11,880	-2,024	11,856	10,859	10,391	9,568	10,842	10,522	10,379	8,023	1,766	4,378	4,398	4,984	5,094	4,923	4,924	4,469	4,454	4,353	4,231	3,622	3,702	3,584	3,018
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of premises and equipment
949	720	736	783	814	726	800	761	775	787	816	773	775	620	786	645	653	589	587	334	799	328	1,289	224	204	236	221	217	212	258	235	211	210	258	241	243	241
Provision for loan losses
16,000	500	2,000	1,100	4,500	1,100	1,100	1,100	17,800	2,000	1,450	1,450	1,100	25,200	6,750	3,750	3,000	5,055	4,175	1,550	1,825	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase to valuation allowance, loans held-for-sale
-	-	-	-	-	-	-	-	-	267	3,000	9,725	2,600	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangibles
652	340	340	364	364	144	145	169	169	169	169	193	193	193	193	217	217	217	217	242	241	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net accretion of loans
1,996	1,266	1,340	1,487	963	158	163	627	179	967	260	256	590	899	932	1,275	1,174	1,222	1,138	1,250	1,442	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion on bank premises
23	21	22	22	21	21	13	17	16	16	17	18	23	38	31	32	31	31	26	25	26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion on deposits
1,503	232	278	311	328	11	15	16	15	12	7	8	4	5	35	57	75	76	87	116	191	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization on borrowings, net
-43	-43	-52	-56	-58	-22	16	37	45	47	49	53	54	57	77	87	86	87	90	121	143	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan and lease losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	625	-	-	-	0	-	-	-	107	300	1,020	250	878
Stock-based compensation
536	799	673	642	828	1,385	597	272	-370	463	463	463	389	463	545	350	755	-129	150	247	479	172	17	18	16	18	16	14	11	12	12	8	7	8	8	11	8
Net other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	628	0	0	24	538	134	140	58	39	66	142	95
Gains on sales of securities available-for-sale, net
29	0	-279	-9	8	-	-	-	-	0	0	0	1,596	0	4,131	103	0	1,138	2,067	220	506	718	111	574	1,415	1,077	343	600	343	337	897	653	995	856	1,316	943	861
Gains on equity securities, net
-178	46	-79	-158	-103	-58	157	47	121	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sale of loans held-for-sale, net
393	169	278	46	19	30	2	12	17	588	50	49	21	85	55	57	35	51	63	99	114	117	65	43	36	39	26	91	138	171	87	100	126	403	-120	0	-32
Loans originated for resale
5,186	8,692	7,763	2,547	1,497	1,915	708	453	1,045	2,293	2,899	1,786	2,105	3,605	3,602	881	1,916	2,830	4,402	5,134	8,468	3,678	4,495	653	2,168	771	1,694	4,746	7,605	7,435	3,745	4,396	6,437	6,768	4,762	378	2,449
Proceeds from sale of loans held-for-sale
17,324	10,459	6,443	2,961	1,148	2,215	440	752	1,145	51,716	3,036	2,539	6,440	-	2,419	578	1,951	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of loans held-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,871	3,599	6,501	7,190	4,715	4,313	213	2,204	911	2,204	5,026	8,460	7,153	3,284	6,029	5,558	6,382	5,060	0	2,481
Net (gains) losses on disposition of premises and equipment
-	-	-	-	-	-	-	-	-	0	0	0	8	57	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss on sale of other real estate owned
-	-	-	-	-	-	-	-	-	0	0	0	-82	0	-28	325	-115	-52	0	0	-112	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Life insurance death benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-291	-	0	0	0	-	-	-	-
Decrease in prepaid FDIC insurance assessments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-525	-286	-	-243	-294	-240	-164	-473	-588	-473
Increase in cash surrender value of bank owned life insurance
968	914	915	833	822	1,379	751	775	189	550	985	713	704	716	615	616	612	619	388	389	386	391	401	256	255	260	265	274	274	282	239	246	251	258	259	261	260
Amortization of premiums and accretion of discounts on securities available-for-sale
-1,101	-1,230	-1,310	-1,076	-683	-656	-745	-787	-1,045	-823	-730	-589	-489	-544	-378	-353	-417	-351	-306	-618	-518	-108	-1,025	-405	-536	-651	-824	-883	-958	-1,050	-1,200	-1,128	-1,211	-1,029	-947	-980	-1,056
Amortization of subordinated debentures issuance costs
82	83	82	82	82	82	82	82	86	41	42	41	41	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in accrued interest receivable
458	-75	-248	74	550	524	936	734	550	629	1,647	493	-264	468	-229	123	58	883	-393	542	-187	724	92	73	-461	510	-278	427	-426	421	-426	501	-255	603	387	473	622
Net change in operating leases
-19	-47	-31	-18	1,408	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in other assets
-17,366	25,102	1,748	-508	-3,723	1,176	-168	-2,143	2,269	3,064	-3,983	1,545	-6,332	12,193	-4,175	-149	7,137	-4,425	1,315	1,960	49	-1,072	1,417	-957	-1,588	-2,765	-864	4,124	-909	-540	-528	1,886	647	-2,702	4,456	-1,003	-349
Decrease in other liabilities
-2,869	-1,389	6,682	-145	-7,933	1,043	-8,688	13,097	-464	443	-582	4,690	-664	-1,041	-5,715	3,774	960	-1,374	1,894	788	-2,388	4,168	-3,146	-614	-31	-4,238	1,261	576	609	90	-33	-777	1,700	-6,077	6,769	-1,695	418
Net cash provided by operating activities
46,461	-2,666	28,087	22,268	12,999	21,725	13,036	34,066	20,233	62,822	20,270	23,225	24,816	13,092	12,166	17,119	7,335	14,681	12,587	10,946	8,017	15,616	6	4,266	6,127	5,385	7,623	1,977	8,168	6,699	5,749	3,497	5,121	3,005	7,235	3,051	4,793
Cash flows from investing activities
Cash flows from investing activities
Securities available-for-sale:
Purchases
86,731	22,359	61,755	34,334	107,405	25,556	53,862	14,262	46,333	85,676	21,088	67,945	49,912	50,683	46,689	49,020	19,135	2,607	23,887	9,366	1,543	6,336	21,063	90	10,397	18,312	17,403	82,545	37,204	23,318	49,883	46,347	88,332	59,215	127,554	103,919	109,956
Sales
19,624	0	33,396	56,257	94,075	-	-	-	-	0	0	0	29,543	0	78,680	6,573	0	20,834	32,126	2,734	9,537	13,711	0	16,127	50,611	31,392	11,862	33,905	45,006	15,476	43,421	29,649	41,513	18,433	78,187	81,650	76,551
Maturities, calls and principal repayments
50,294	41,741	45,347	55,657	35,371	26,102	40,251	36,003	39,503	47,404	22,387	17,930	21,383	28,135	58,694	26,463	24,295	8,465	31,468	15,401	6,673	12,545	6,465	7,487	6,999	7,744	9,051	15,462	14,121	20,082	10,140	9,526	8,658	12,050	5,799	9,313	20,867
Investment securities held-to-maturity:
Purchases
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,000	0	3,034	4,511	9,986	-	-	-	-	0	17,427	1,108	4,996	9,199	1,541	1,022	4,844	-	-	-	-
Maturities and principal repayments
-	-	-	-	-	-	-	-	-	-	-	-	-	-1	4,786	4,533	5,439	2,818	8,394	3,559	2,749	4,531	1,167	4,178	890	582	445	2,114	689	7,573	6,360	9,037	7,288	-	-	-	-
Net purchases of restricted investment in bank stocks
8,094	-549	-3,821	40	591	-1,350	45	-2,181	1,125	3,825	-2,480	7,167	675	-225	-675	-6,277	-1,125	2,250	3,284	2,204	1,339	-	-	-	-	0	0	20	2	0	-225	-94	0	39	0	48	-450
Purchases of equity securities
2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on loans held-for-sale
75	-	-	-	-	0	0	47	112	281	462	702	1,677	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in loans
130,187	4,418	52,120	116,614	70,278	79,342	101,415	112,031	69,837	266,702	169,249	189,603	88,605	130,832	84,640	111,175	164,130	144,420	188,757	123,996	100,708	111,956	121,584	18,819	26,911	3,662	54,678	23,465	-10,044	21,060	11,065	17,791	33,562	34,780	24,958	-18,321	7,806
Purchases of bank owned life insurance
25,000	-	-	-	-	-	-	-	-	-	-	-	-	-1	15,621	438	941	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of fixed assets
-	-	-	-	-	-	-	-	-	-	0	0	8	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of premises and equipment
1,728	191	687	392	257	422	1,396	94	139	513	1,086	126	936	-	-	-	-	1,368	831	1,204	478	-162	1,452	397	350	438	231	122	182	246	308	152	136	186	37	58	35
Proceeds from sale of OREO
992	-	-	-	-	-	-	-	-	0	580	0	544	0	1,680	574	738	643	0	0	126	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of loans held-for-sale to held-for-investment
-	-	-	-	-	-	-	-	-	-	-7,159	0	7,159	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash consideration paid in acquisition
23,977	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from life insurance death benefits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	592	-	500	0	0	-	-	-	-
Net cash used in investing activities
-95,364	16,302	-41,998	-41,427	-35,344	-75,656	-115,583	-88,156	-77,819	-309,031	-175,514	-246,209	-86,973	-153,643	-4,204	-116,213	-153,609	-142,386	-147,805	-119,587	-94,969	-105,524	-57,574	-2,127	20,842	17,308	-68,381	-54,549	28,068	-15,692	-6,312	-16,901	-69,415	-65,879	-66,188	-584	-19,929
Cash flows from financing activities
Cash flows from financing activities
Net (decrease) increase in deposits
-42,225	16,540	110,369	47,456	86,124	103,338	83,370	155,839	-45,526	171,371	193,403	74,904	11,210	75,327	67,991	307,979	102,180	124,418	97,480	73,336	20,595	6,439	143,206	-65,265	-2,120	27,688	33,423	-1,329	-24,699	13,909	33,128	21,176	32,058	61,393	94,346	31,030	74,314
Increase in subordinated debentures
-	-	-	-	-	0	0	0	73,525	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advances of Federal Home Loan Bank ("FHLB") borrowings
980,000	1,021,000	684,000	472,000	420,000	477,000	393,000	428,000	435,000	500,000	355,000	325,000	100,000	0	0	325,000	50,000	223,875	125,000	409,899	90,101	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of FHLB borrowings
803,222	1,033,206	768,913	479,198	480,833	507,000	392,000	494,000	410,000	415,000	396,000	175,000	85,000	5,000	15,000	475,000	75,000	173,875	51,994	370,168	60,363	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000
Cash dividends paid on common stock
3,576	3,123	3,186	3,194	2,657	2,421	2,416	2,417	2,410	2,405	2,405	2,399	2,403	2,262	2,272	2,221	2,312	2,255	2,247	2,247	2,247	2,259	2,225	1,228	1,228	1,229	1,047	1,079	899	899	899	490	490	489	488	489	489
Net decrease in short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-32,374	-3,543	-5,938
Cash dividends paid on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	22	28	28	28	28	56	28	28	28	29	28	56	28	-28	166	59	166	0	167	125	125
Common stock issuance costs
-	-	-	-	-	-	-	-	-	-	0	0	180	-	-	-	0	-	-	-	-	0	0	4	3	4	3	3	3	2	3	1	2	-	1	2	1
Repurchase of treasury stock
911	7,468	0	4,925	250	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	11,250	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
163	95	0	122	143	351	272	50	202	299	0	118	0	535	0	190	42	0	45	789	590	-	-	-	-	0	11	0	10	9	0	132	0	321	0	0	7
Net cash provided by financing activities
130,229	-6,162	22,270	32,261	22,527	70,449	82,226	87,472	50,791	254,529	149,998	207,623	23,627	107,156	50,719	155,948	63,638	170,079	168,256	145,581	48,648	78,742	102,964	-15,804	-3,379	26,442	32,356	-2,224	-25,619	13,023	17,003	20,865	31,400	60,895	62,566	26,871	57,768
Net change in cash and cash equivalents
81,326	7,474	8,359	13,102	182	16,518	-20,321	33,382	-6,795	8,320	-5,246	-15,361	-38,530	-33,395	58,681	56,854	-82,636	42,374	33,038	36,940	-38,304	-11,166	45,396	-13,665	23,590	49,135	-28,402	-54,796	10,617	4,030	16,440	7,461	-32,894	-1,979	3,613	29,338	42,632
Cash payments for:
Supplemental disclosures of cash flow information
Cash payments for:
Interest paid on deposits and borrowings
24,627	21,079	23,274	21,829	22,340	15,462	15,145	14,128	10,927	10,914	11,164	7,040	7,603	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,155	3,031	3,006
Interest paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,128	6,492	7,417	5,791	5,425	4,724	4,563	4,797	2,702	2,723	2,636	2,809	2,821	2,727	2,866	2,948	2,983	3,097	3,034	3,155	3,031	3,006
Income taxes
7,476	-	-	-	-	6,585	1,010	274	1,223	11,535	1,605	3,010	55	4,750	3,510	4,450	10,235	835	4,500	7,045	5,500	340	2,100	2,053	500	2,532	565	1,630	0	-	-	-	-	-	-	-	-
Supplemental disclosures of noncash investing activities
Investing:
Trade date accounting settlement for investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	650	-	-1,545	-310	1,855	-2,999	-762	-14,131	17,892
Transfer of loans to other real estate owned
-	-	-	-	-	0	0	0	538	538	0	0	580	0	304	583	0	-	-	-	-	-	-	-	-	-	-	0	236	1,300	0	0	0	-	-	-	-
Transfer of loans held-for-sale to loans held-for-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of loans from held-for-investment to held-for-sale
10,995	-	-	-	-	0	0	-3,000	24,236	39,264	34,652	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from investment securities held-to-maturity to investment securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	59,758	15,936	-	0	0	0	-	-	-	-
Business combinations:
Fair value of assets acquired
949,276	-	-	-	534,166	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of liabilities assumed
852,729	0	0	0	488,475	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash consideration paid in acquisition
23,977	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-