CENTRAL PACIFIC FINANCIAL CORP CPF Cash Flow

Central pacific financial corp (CPF)

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
58,322	59,486	41,204	46,992	45,868	40,453	172,075	47,421	36,571	-250,953	-313,747
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses
6,317	-1,124	-2,674	-5,517	-15,671	-6,414	-11,310	-18,885	-40,690	159,548	348,801
Goodwill impairment
-	-	-	-	-	-	-	-	-	102,689	50,000
Depreciation and amortization of premises and equipment
6,139	6,288	6,441	6,049	5,870	5,842	6,007	6,351	6,724	7,737	8,410
Non-cash lease expense
284	0	0	-	-	-	-	-	-	-	-
Cash flows from operating leases
6,230	0	0	-	-	-	-	-	-	-	-
Write down of assets
-	-	-	-	-	-	-	2,586	4,624	1,460	4,963
Loss on sale of other real estate, net of write-downs
252	431	-192	-251	198	1,133	-8,011	-358	528	6,317	8,651
Gain on sale of premises and equipment
-	-	-	3,537	0	0	-	-	-	7,698	3,612
Amortization of mortgage servicing rights
2,460	3,865	4,962	7,741	6,859	5,332	7,418	10,179	7,033	7,061	6,123
Net amortization and accretion of premium/discounts on investment securities
-9,271	-10,907	-11,674	-12,945	-10,246	-7,807	-13,283	-15,670	-9,447	-2,802	-3,146
Share-based compensation expense
2,735	2,778	1,918	1,333	3,131	4,218	4,931	3,982	3,277	233	362
Debt and Equity Securities, Gain (Loss)
36	-279	-1,410	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Securities, Net
-	-	-	0	-1,866	240	482	789	1,306	831	-74
Net change in trading securities
-	-	-	-	-	-	-	-	-	-49,126	0
Other than temporary impairment on securities
-	-	-	-	-	-	-	-	-	-	2,565
Net gain on sales of residential mortgage loans
4,128	4,085	4,069	7,631	6,107	5,545	9,986	17,095	8,050	8,468	13,582
Proceeds from sales of loans held for sale
207,686	240,137	319,556	432,331	379,318	373,061	654,005	969,089	667,052	1,069,104	1,713,391
Originations of loans held for sale
205,994	226,363	299,942	442,472	377,638	364,828	618,106	952,402	662,429	955,291	1,709,681
Equity in earnings of unconsolidated subsidiaries
257	233	602	723	578	480	790	574	458	468	759
Distributions from unconsolidated subsidiaries
246	685	0	0	524	531	9,615	467	522	726	582
Net decrease (increase) in cash surrender value of bank-owned life insurance
3,259	2,248	3,940	3,132	2,407	3,161	2,729	4,934	2,337	4,554	5,234
Deferred income taxes
-3,965	7,874	32,206	24,427	26,079	20,482	-112,138	-	-	-	21,900
Net tax benefits from share-based compensation
-253	-144	-544	0	0	-	-	-	-	-	-
Premium paid on repurchases of preferred stock of subsidiaries
-	-	-	-	-	-	1,895	-	-	-	-
Ineffective portion of derivative
-	-	-	-	-	-	-	-	-	-	3,365
Decrease (increase) in income tax receivable
-	-	-	-	-	-	-	-	-	-	-2,561
Net change in other assets and liabilities
-2,096	-4,665	11,712	-7,930	2,529	6,228	11,531	20,853	-3,137	-43,619	-10,099
Net cash provided by operating activities
72,192	103,486	96,784	76,485	74,505	71,432	84,531	39,388	23,123	221,433	131,066
Cash flows from investing activities:
Proceeds from maturities of and calls on investment securities available-for-sale
252,079	143,876	169,472	204,426	165,492	145,592	448,453	437,471	401,556	333,005	312,021
Proceeds from sales of available-for-sale investment securities
53,935	10,014	114,536	0	117,496	162,470	271,931	130,076	137,980	439,403	86,205
Purchases of investment securities available-for-sale
55,011	85,366	356,887	195,456	344,766	98,408	753,496	627,356	1,317,112	610,081	526,043
Cash dividends paid on preferred stock
-	-	-	-	-	-	-	-	-	-	2,362
Proceeds from sale of MasterCard stock
151	0	0	941	360	74	74	-	323,538	-1,023	2,255
Redemption of MasterCard Class B common stock
2,555	0	0	-	-	-	-	-	-	-	-
Proceeds from maturities of and calls on held-to-maturity investment securities
0	42,722	25,237	30,989	26,524	15,814	13,500	2,487	1,881	1,843	3,939
Purchases of held-to-maturity investment securities
-	-	-	1,644	37,043	2,443	4,595	163,498	-	-	-
Net loan originations
237,493	250,188	166,051	239,006	218,195	245,099	357,853	152,350	-19,435	-347,252	-328,353
Purchases of loan portfolios
140,085	58,564	83,784	76,946	68,754	62,648	85,110	-	-	-	-
Proceeds from sales of loans originated for investment
-	-	-	-	6,658	0	10,679	10,340	26,721	193,390	278,580
Proceeds from sales of foreclosed loans and other real estate
140	46	286	2,850	6,691	3,865	17,892	56,915	42,362	30,394	4,749
Proceeds from bank-owned life insurance death benefits
1,043	1,101	3,240	1,506	723	481	536	1,997	158	2,069	794
Proceeds from sale of premises and equipment
-	-	-	4,287	0	0	-	-	-	19,715	7,207
Net purchases of premises, equipment and land
7,197	3,225	6,531	5,896	5,817	6,017	6,287	3,696	747	1,954	6,135
Net return of capital from unconsolidated subsidiaries
622	622	658	645	-	-	-	-	-	-	-
Contributions to unconsolidated subsidiaries
1,222	3,297	114	5	0	-466	9,050	-	-	136	4,228
Net (purchases of) proceeds from redemption of FHLB stock
1,662	-8,884	3,811	-2,966	35,326	2,261	1,735	869	-	-	-
Net cash used in investing activities
-128,972	-211,143	-296,127	-277,216	-315,141	-83,135	-442,050	-306,278	-687,244	755,626	486,024
Cash flows from financing activities:
Net increase in deposits
173,533	-9,864	348,153	174,762	323,139	174,127	255,401	237,244	310,581	-435,969	-342,650
Proceeds from long-term debt
0	50,000	0	0	-	-	-	-	-	50,000	100,000
Repayments of long-term debt
20,619	20,619	0	0	-	14	15,482	50,017	301,219	247,893	91,093
Net increase (decrease) in short-term borrowings
-47,000	165,000	-103,000	66,000	31,000	29,985	8,015	-34	-202,446	-39,949	-37,021
Cash dividends paid on common stock
25,706	24,143	21,299	18,619	26,143	13,405	6,735	-	-	-	-
Repurchases of common stock and other related costs
22,793	32,824	26,559	18,206	93,533	142,405	0	-	-	-	-
Net decrease in cash and cash equivalents
786	19,893	-2,048	4,147	-5,813	36,659	-128,027	-79,697	-533,667	302,372	380,622
Repurchases of preferred stock of subsidiaries
-	-	-	-	-	-	11,781	-	-	-	-
Net proceeds from issuance of preferred stock and warrants
-	-	-	-	-	-	-	-	-	-	134,403
Other, net
-	-	-	-	-	-	-	-	-	147	0
Net cash provided by financing activities
57,566	127,550	197,295	204,878	234,823	48,362	229,492	187,193	130,454	-674,687	-236,468
Supplemental disclosure of cash flow information:
Cash paid during the period for
Interest
33,072	23,943	12,717	8,705	6,453	6,413	19,260	5,622	18,138	41,553	-71,596
Income taxes
24,101	23	8,401	0	1,642	0	5	5	86	-	-1,532
Cash received during the year for:
Cash received during the period for:
Income taxes
-	-	-	1,605	0	185	0	430	55	37,993	48,305
Supplemental non-cash disclosures:
Net change in common stock held by directors' deferred compensation plan
416	504	385	681	154	11	39	27	-16	6	-76
Net reclassification of loans to foreclosed loans and other real estate
142	40	154	1,428	5,903	2,783	4,358	4,846	47,064	67,264	-27,725
Net transfer of investment securities held-to-maturity to available-for-sale
-149,042	0	0	-	-	-	-	-	-	-	-
Right-of-use lease assets obtained in exchange for lease liabilities
56,779	0	0	-	-	-	-	-	-	-	-
Net reclassification of loans held for sale to other real estate
-	-	-	-	-	-	-	716	-	-	-50,146
Net transfer of portfolio loans to loans held for sale
-	-	-	-	6,658	0	0	1,487	13,639	74,894	-33,850
Net transfer of investment securities available for sale to held to maturity
-	-	-	-	-	-	101,669	-	-	49,126	0
Dividends accrued on preferred stock
-	-	-	-	-	-	-	-	969	7,096	4,262
Accretion of preferred stock discount
-	-	-	-	-	-	-	-	204	1,336	1,322
Preferred stock and accrued unpaid dividends converted to common stock
-	-	-	-	-	-	-	-	142,988	-	0
Common stock issued in exchange for preferred stock and accrued unpaid dividends
-	-	-	-	-	-	-	-	56,201	-	0