CENTRAL PACIFIC FINANCIAL CORP CPF Cash Flow

Central pacific financial corp (CPF)

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:
Net income
8,326	14,197	14,554	13,534	16,037	15,792	15,193	14,224	14,277	4,288	11,812	12,025	13,079	12,208	11,466	12,137	11,181	10,932	12,206	12,335	10,395	13,265	8,230	9,150	9,808	10,295	10,204	14,267	137,309	12,410	10,721	10,812	13,478	12,095	11,626	8,211	4,639
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses
9,300	2,117	1,500	1,400	1,300	-1,424	0	500	-200	-186	-126	-2,282	-80	-2,645	-743	-1,382	-747	-1,958	-3,647	-7,319	-2,747	-5,371	-1,722	1,995	-1,316	-1,333	-3,189	-227	-6,561	-2,283	-4,982	-6,630	-4,990	-11,215	-19,116	-8,784	-1,575
Depreciation and amortization of premises and equipment
1,504	1,511	1,543	1,545	1,540	1,588	1,523	1,578	1,599	1,673	1,618	1,613	1,537	1,556	1,519	1,481	1,493	1,464	1,452	1,475	1,479	1,470	1,463	1,446	1,463	1,479	1,501	1,509	1,518	1,591	1,640	1,576	1,544	1,133	2,119	1,715	1,757
Non-cash lease expense
59	64	69	72	79	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from operating leases
1,594	1,567	1,558	1,556	1,549	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write down of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	827	0	1,759	0	-31	3,090	1,565
Loss on sale of other real estate, net of write-downs
64	114	0	0	138	0	181	-6	256	0	-27	-3	-162	0	-29	-33	-189	172	-114	140	0	604	986	-392	-65	-22	-250	-7,155	-584	-3,390	1,616	1,449	-33	1,748	379	-2,133	534
Amortization of mortgage servicing rights
1,547	733	655	601	471	446	1,188	1,105	1,126	1,413	1,145	1,216	1,188	1,450	1,690	2,423	2,178	1,512	1,683	1,559	2,105	1,446	1,328	1,318	1,240	1,424	1,637	2,109	2,248	2,689	2,698	3,031	1,761	2,148	1,709	1,629	1,547
Net amortization and accretion of premium/discounts on investment securities
-1,982	-2,463	-2,164	-2,433	-2,211	-2,442	-2,696	-2,847	-2,922	-2,714	-3,134	-2,860	-2,966	-3,619	-3,525	-3,083	-2,718	-2,828	-2,834	-2,666	-1,918	-1,696	-1,951	-1,969	-2,191	-2,517	-3,148	-3,656	-3,962	-3,906	-4,460	-3,774	-3,530	-3,817	-2,493	-1,704	-1,433
Share-based compensation expense
673	1,007	880	350	498	937	990	452	399	798	708	-86	498	-27	725	-52	687	1,319	2,155	-1,172	829	2,118	1,287	-115	928	1,763	1,562	438	1,168	1,473	1,161	372	976	1,106	1,129	914	128
Net gain on sales of residential mortgage loans
727	1,292	1,250	975	611	1,072	1,082	959	972	968	705	1,084	1,312	2,108	2,212	1,845	1,466	1,332	1,551	1,630	1,594	1,394	1,685	1,227	1,239	1,494	1,476	2,888	4,128	6,011	4,713	3,394	2,977	3,670	1,177	1,005	2,198
Proceeds from sales of loans held for sale
31,498	55,002	59,194	61,613	31,877	56,170	65,673	54,188	64,106	69,690	81,242	81,961	86,663	116,983	121,500	110,158	83,690	74,967	103,292	104,271	96,788	93,420	102,437	92,215	84,989	108,806	146,244	186,523	212,432	293,290	264,599	221,700	189,500	249,307	109,787	111,915	196,043
Originations of loans held for sale
25,598	55,777	58,112	63,947	28,158	57,285	59,955	54,833	54,290	74,230	78,077	84,260	63,375	134,001	122,122	106,964	79,385	77,959	88,608	118,354	92,717	96,356	97,640	88,205	82,627	107,245	142,531	181,016	187,314	301,482	263,520	229,028	158,372	239,673	130,159	112,773	179,824
Equity in earnings of unconsolidated subsidiaries
26	92	86	71	8	82	71	37	43	214	176	151	61	267	182	184	90	88	165	229	96	58	11	359	52	57	513	192	28	188	171	169	46	157	136	38	127
Distributions from unconsolidated subsidiaries
73	71	74	19	82	71	36	39	539	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	354	9,062	3	0	550	12	21	6	428	0	-1	0	523
Net decrease (increase) in cash surrender value of bank-owned life insurance
-19	1,760	645	-98	952	1,456	-27	501	318	684	1,086	1,962	208	360	778	1,369	625	518	434	487	968	759	764	968	670	1,237	611	317	564	731	741	1,453	2,009	629	866	-348	1,190
Deferred income taxes
-406	-11,513	-953	3,488	5,013	-4,668	4,967	3,841	3,734	12,222	6,336	6,963	6,685	5,637	6,392	6,331	6,067	7,034	6,192	7,514	5,339	5,781	5,263	3,903	5,535	3,545	2,174	1,945	-119,802	-	-	-	-	-	-	-	-
Net tax benefits from share-based compensation
48	-44	-17	-87	-105	41	-19	-94	-72	70	-31	-458	-125	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in other assets and liabilities
-4,570	-14,405	3,527	6,609	2,173	-12,931	2,765	2,189	3,312	-3,989	7,422	5,906	2,373	-8,965	2,408	-2,735	1,362	5,764	971	-9,226	5,020	6,930	-5,821	3,950	1,169	3,106	25,665	-24,158	6,918	4,574	-1,785	748	17,316	1,466	-4,136	1,246	-1,713
Net cash provided by operating activities
31,245	19,708	14,515	12,086	25,883	24,666	28,561	20,375	29,884	20,205	18,407	13,002	45,170	7,473	18,343	26,519	24,150	12,609	34,324	11,861	15,711	8,932	26,944	16,540	19,016	14,853	-5,870	42,810	32,738	-3,300	14,591	1,292	26,805	13,499	-18,107	3,286	24,445
Cash flows from investing activities:
Proceeds from maturities of and calls on investment securities available-for-sale
50,878	57,453	72,745	78,788	43,093	29,368	36,107	38,362	40,039	40,884	42,216	37,168	49,204	64,168	58,364	45,467	36,427	39,804	44,152	45,594	35,942	40,808	37,980	34,165	32,639	61,044	98,364	134,000	155,045	121,748	145,212	97,846	72,665	133,794	84,847	68,400	114,515
Purchases of investment securities available-for-sale
96,068	36	54,975	0	0	32	21	73	85,240	23,645	79,870	145,860	107,512	82,586	66,655	6	46,209	54,747	32,226	162,077	95,716	79,415	4	66	18,923	251,994	87,016	250,434	164,052	170,315	135,220	89,188	232,633	289,879	149,433	389,184	488,616
Proceeds from sale of MasterCard stock
0	-2,404	0	0	2,555	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	861	-860	15,220	308,317
Proceeds from maturities of and calls on held-to-maturity investment securities
-	-	-	-	-	4,231	5,172	18,774	14,545	5,782	6,740	6,646	6,069	8,654	9,046	7,143	6,146	6,574	7,791	7,352	4,807	3,768	4,948	3,927	3,171	3,520	3,806	3,786	2,388	1,798	248	215	226	316	325	360	880
Purchases of held-to-maturity investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	14,794	22,249	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loan originations
41,339	22,659	93,078	114,905	6,851	60,166	97,483	46,395	46,144	102,216	46,120	19,826	-2,111	86,100	37,135	69,933	45,838	95,716	67,988	17,688	36,803	61,902	39,894	76,736	66,567	99,241	109,521	74,293	74,798	93,883	12,628	24,136	21,703	36,380	46,783	-20,222	-82,376
Purchases of loan portfolios
22,340	61,265	29,493	31,041	18,286	37,697	259	20,608	0	33,059	0	26,604	24,121	-756	0	25,686	52,016	15,948	24,697	28,109	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of loans originated for investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	10,219	0	460	-	-	-	-	-	-	-	-
Proceeds from sales of foreclosed loans and other real estate
-	-	-	-	-	0	0	6	40	0	184	0	102	0	1,061	898	891	4	4,120	1,599	968	1,075	906	1,113	771	1,517	2,170	12,363	1,842	41,955	2,112	3,315	9,533	8,129	9,509	17,776	6,948
Proceeds from bank-owned life insurance death benefits
-	-	-	-	-	-	-	-	-	319	1,211	928	782	0	223	1,283	0	-	-	-	-	-	-	-	-	-	-	-	-	0	551	23	1,423	0	0	0	158
Net purchases of premises, equipment and land
5,608	3,759	2,038	618	782	689	703	1,146	687	1,682	705	2,562	1,582	2,322	1,391	1,529	654	2,803	1,593	388	1,033	1,592	1,852	2,157	416	2,367	845	1,738	1,337	926	869	1,382	519	41	-78	440	344
Net return of capital from unconsolidated subsidiaries
0	0	0	0	622	622	0	0	0	109	94	17	438	117	116	44	368	-	138	72	214	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions to unconsolidated subsidiaries
-422	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions to unconsolidated subsidiaries
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5	0	0	0	0	-	-	-	60	0	0	9,000	50	-	-	-	-	-	-	-	-
Net (purchases of) proceeds from redemption of FHLB stock
-3,126	2,200	641	-1,679	500	-5,680	-719	-1,239	-1,246	-1,277	8	841	4,239	601	3,045	-4,798	-1,814	3,442	81	31,313	490	525	554	581	601	433	433	435	434	-	-	-	-	-	-	-	-
Net cash used in investing activities
-118,025	-28,105	-52,263	-69,455	20,851	-62,225	-58,073	-12,152	-78,693	-96,378	-76,246	-53,233	-70,270	-92,425	-34,970	-47,117	-102,704	-119,290	-70,222	-12,249	-113,380	-96,672	-36,765	98,732	-48,430	-53,565	-97,851	-211,116	-79,518	-99,176	-26,698	-9,824	-170,580	-51,405	-101,458	-250,821	-283,560
Cash flows from financing activities:
Net increase in deposits
16,046	82,364	60,810	28,721	1,638	-57,190	24,581	-1,332	24,077	28,857	41,115	108,938	169,243	89,623	113,436	-91,460	63,163	202,936	48,181	-6,320	78,342	62,204	45,518	16,811	49,594	29,909	50,598	90,975	83,919	59,182	59,273	54,514	64,275	95,495	117,713	84,857	12,516
Repayments of long-term debt
0	0	0	0	20,619	20,619	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	5	5	4	15,469	4	4	5	4	4	5	50,004	100,049	150,729	223	50,218
Net increase (decrease) in short-term borrowings
72,000	-55,000	-16,000	42,000	-18,000	92,000	18,000	31,000	24,000	32,000	0	-21,000	-114,000	-15,000	-76,000	120,000	37,000	-86,000	-2,000	87,000	32,000	38,000	-29,000	-73,000	93,985	-	-	-	-	0	0	0	-34	-1,190	-161	-38	-201,057
Cash dividends paid on common stock
6,496	6,517	6,556	6,581	6,052	6,104	6,164	6,205	5,670	5,411	5,456	5,510	4,922	4,924	4,961	4,356	4,378	14,425	3,760	3,787	4,171	3,564	3,590	2,881	3,370	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock and other related costs
4,749	4,827	4,015	6,243	7,708	8,061	6,681	7,971	10,111	5,255	10,096	7,679	3,529	4,122	3,540	5,794	4,750	0	4,009	80,236	9,288	13,014	0	60,518	68,873	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash and cash equivalents
-9,979	7,774	-3,509	528	-4,007	12,467	224	23,715	-16,513	-25,982	-32,276	34,518	21,692	-19,033	12,708	-2,009	12,481	-3,810	2,514	-3,731	-786	-4,114	3,102	-4,247	41,918	-47,551	-40,275	-77,335	37,134	-43,298	47,162	45,977	-129,538	-42,789	-153,602	-147,719	-189,557
Net cash provided by financing activities
76,801	16,171	34,239	57,897	-50,741	50,026	29,736	15,492	32,296	50,191	25,563	74,749	46,792	65,919	29,335	18,589	91,035	102,871	38,412	-3,343	96,883	83,626	12,923	-119,519	71,332	-8,839	63,446	90,971	83,914	59,178	59,269	54,509	14,237	-4,883	-34,037	99,816	69,558
Supplemental disclosure of cash flow information:
Cash paid during the period for
Interest
6,140	8,337	7,819	8,514	8,402	7,974	5,417	5,675	4,877	3,620	3,636	3,065	2,396	2,444	2,275	2,201	1,785	1,612	1,602	1,640	1,599	1,617	1,513	1,629	1,654	1,824	1,770	1,618	14,048	1,133	1,261	1,441	1,787	2,083	4,512	17,908	-6,365
Income taxes
170	6,500	8,200	9,401	0	0	1	0	22	501	3,900	4,000	0	-	-	-	-	362	400	780	100	-	-	-	-	0	0	0	5	-	-	-	-	78	0	15	-7
Cash received during the year for:
Cash received during the period for:
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	106	0	0	79	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental non-cash disclosures:
Net change in common stock held by directors' deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	144	438	0	99	0	0	104	50	0	0	45	-34	0	0	46	-7	0	0	62	-35	0	0	-32	16
Net reclassification of loans to foreclosed loans and other real estate
-	-	-	-	-	0	0	0	40	0	0	154	0	-	-	-	-	224	642	3,668	1,369	1,031	241	1,139	372	897	244	2,577	640	1,873	1,011	1,418	544	8,838	29,745	15,056	-6,575
Net transfer of investment securities held-to-maturity to available-for-sale
0	-298,084	0	298,084	-149,042	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use lease assets obtained in exchange for lease liabilities
0	892	0	0	55,887	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net transfer of portfolio loans to loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,197	0	290	12,414	-31	1,256	0
Dividends accrued on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	969
Accretion of preferred stock discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	204
Preferred stock and accrued unpaid dividends converted to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	142,988
Common stock issued in exchange for preferred stock and accrued unpaid dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	56,201