CENTRAL PACIFIC FINANCIAL CORP CPF Cash Flow

Central pacific financial corp (CPF)

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
Cash flows from operating activities:
Net income
50,611	58,322	59,917	60,556	61,246	59,486	47,982	44,601	42,402	41,204	49,124	48,778	48,890	46,992	45,716	46,456	46,654	45,868	48,201	44,225	41,040	40,453	37,483	39,457	44,574	172,075	174,190	174,707	171,252	47,421	47,106	48,011	45,410	36,571	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses
14,317	6,317	2,776	1,276	376	-1,124	114	-12	-2,794	-2,674	-5,133	-5,750	-4,850	-5,517	-4,830	-7,734	-13,671	-15,671	-19,084	-17,159	-7,845	-6,414	-2,376	-3,843	-6,065	-11,310	-12,260	-14,053	-20,456	-18,885	-27,817	-41,951	-44,105	-40,690	0	0	0
Depreciation and amortization of premises and equipment
6,103	6,139	6,216	6,196	6,229	6,288	6,373	6,468	6,503	6,441	6,324	6,225	6,093	6,049	5,957	5,890	5,884	5,870	5,876	5,887	5,858	5,842	5,851	5,889	5,952	6,007	6,119	6,258	6,325	6,351	5,893	6,372	6,511	6,724	0	0	0
Non-cash lease expense
264	284	220	151	79	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from operating leases
6,275	6,230	4,663	3,105	1,549	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write down of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,586	2,586	1,728	4,818	4,624	0	0	0
Loss on sale of other real estate, net of write-downs
178	252	138	319	313	431	431	223	226	-192	-192	-194	-224	-251	-79	-164	9	198	630	1,730	1,198	1,133	507	-729	-7,492	-8,011	-11,379	-9,513	-909	-358	4,780	3,543	-39	528	0	0	0
Amortization of mortgage servicing rights
3,536	2,460	2,173	2,706	3,210	3,865	4,832	4,789	4,900	4,962	4,999	5,544	6,751	7,741	7,803	7,796	6,932	6,859	6,793	6,438	6,197	5,332	5,310	5,619	6,410	7,418	8,683	9,744	10,666	10,179	9,638	8,649	7,247	7,033	0	0	0
Net amortization and accretion of premium/discounts on investment securities
-9,042	-9,271	-9,250	-9,782	-10,196	-10,907	-11,179	-11,617	-11,630	-11,674	-12,579	-12,970	-13,193	-12,945	-12,154	-11,463	-11,046	-10,246	-9,114	-8,231	-7,534	-7,807	-8,628	-9,825	-11,512	-13,283	-14,672	-15,984	-16,102	-15,670	-15,581	-13,614	-11,544	-9,447	0	0	0
Share-based compensation expense
2,910	2,735	2,665	2,775	2,877	2,778	2,639	2,357	1,819	1,918	1,093	1,110	1,144	1,333	2,679	4,109	2,989	3,131	3,930	3,062	4,119	4,218	3,863	4,138	4,691	4,931	4,641	4,240	4,174	3,982	3,615	3,583	4,125	3,277	0	0	0
Net gain on sales of residential mortgage loans
4,244	4,128	3,908	3,740	3,724	4,085	3,981	3,604	3,729	4,069	5,209	6,716	7,477	7,631	6,855	6,194	5,979	6,107	6,169	6,303	5,900	5,545	5,645	5,436	7,097	9,986	14,503	17,740	18,246	17,095	14,754	11,218	8,829	8,050	0	0	0
Proceeds from sales of loans held for sale
207,307	207,686	208,854	215,333	207,908	240,137	253,657	269,226	296,999	319,556	366,849	407,107	435,304	432,331	390,315	372,107	366,220	379,318	397,771	396,916	384,860	373,061	388,447	432,254	526,562	654,005	838,489	956,844	992,021	969,089	925,106	770,294	660,509	667,052	0	0	0
Originations of loans held for sale
203,434	205,994	207,502	209,345	200,231	226,363	243,308	261,430	290,857	299,942	359,713	403,758	426,462	442,472	386,430	352,916	364,306	377,638	396,035	405,067	374,918	364,828	375,717	420,608	513,419	618,106	812,343	933,332	981,344	952,402	890,593	757,232	640,977	662,429	0	0	0
Equity in earnings of unconsolidated subsidiaries
275	257	247	232	198	233	365	470	584	602	655	661	694	723	544	527	572	578	548	394	524	480	479	981	814	790	921	579	556	574	543	508	377	458	0	0	0
Distributions from unconsolidated subsidiaries
237	246	246	208	228	685	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,419	9,615	565	583	589	467	455	433	427	522	0	0	0
Net decrease (increase) in cash surrender value of bank-owned life insurance
2,288	3,259	2,955	2,283	2,882	2,248	1,476	2,589	4,050	3,940	3,616	3,308	2,715	3,132	3,290	2,946	2,064	2,407	2,648	2,978	3,459	3,161	3,639	3,486	2,835	2,729	2,223	2,353	3,489	4,934	4,832	4,957	3,156	2,337	0	0	0
Deferred income taxes
-9,384	-3,965	2,880	8,800	9,153	7,874	24,764	26,133	29,255	32,206	25,621	25,677	25,045	24,427	25,824	25,624	26,807	26,079	24,826	23,897	20,286	20,482	18,246	15,157	13,199	-112,138	0	0	0	-	-	-	-	-	-	-	-
Net tax benefits from share-based compensation
-100	-253	-168	-170	-177	-144	-115	-127	-491	-544	-614	-583	-125	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in other assets and liabilities
-8,839	-2,096	-622	-1,384	-5,804	-4,665	4,277	8,934	12,651	11,712	6,736	1,722	-6,919	-7,930	6,799	5,362	-1,129	2,529	3,695	-3,097	10,079	6,228	2,404	33,890	5,782	11,531	12,999	-14,451	10,455	20,853	17,745	15,394	15,892	-3,137	0	0	0
Net cash provided by operating activities
77,554	72,192	77,150	91,196	99,485	103,486	99,025	88,871	81,498	96,784	84,052	83,988	97,505	76,485	81,621	97,602	82,944	74,505	70,828	63,448	68,127	71,432	77,353	44,539	70,809	84,531	66,378	86,839	45,321	39,388	56,187	23,489	25,483	23,123	0	0	0
Cash flows from investing activities:
Proceeds from maturities of and calls on investment securities available-for-sale
259,864	252,079	223,994	187,356	146,930	143,876	155,392	161,501	160,307	169,472	192,756	208,904	217,203	204,426	180,062	165,850	165,977	165,492	166,496	160,324	148,895	145,592	165,828	226,212	326,047	448,453	509,157	556,005	519,851	437,471	449,517	389,152	359,706	401,556	0	0	0
Purchases of investment securities available-for-sale
151,079	55,011	55,007	53	126	85,366	108,979	188,828	334,615	356,887	415,828	402,613	256,759	195,456	167,617	133,188	295,259	344,766	369,434	337,212	175,201	98,408	270,987	357,999	608,367	753,496	671,817	720,021	558,775	627,356	746,920	761,133	1,061,129	1,317,112	0	0	0
Proceeds from sale of MasterCard stock
-2,404	151	2,555	2,555	2,555	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	323,538	0	0	0
Proceeds from maturities of and calls on held-to-maturity investment securities
-	-	-	-	-	42,722	44,273	45,841	33,713	25,237	28,109	30,415	30,912	30,989	28,909	27,654	27,863	26,524	23,718	20,875	17,450	15,814	15,566	14,424	14,283	13,500	11,778	8,220	4,649	2,487	1,005	1,082	1,227	1,881	0	0	0
Purchases of held-to-maturity investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37,043	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loan originations
271,981	237,493	275,000	279,405	210,895	250,188	292,238	240,875	214,306	166,051	149,935	140,950	191,057	239,006	248,622	279,475	227,230	218,195	184,381	156,287	215,335	245,099	282,438	352,065	349,622	357,853	352,495	255,602	205,445	152,350	94,847	129,002	84,644	-19,435	0	0	0
Purchases of loan portfolios
144,139	140,085	116,517	87,283	76,850	58,564	53,926	53,667	59,663	83,784	49,969	49,969	49,051	76,946	93,650	118,347	120,770	68,754	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of loans originated for investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,679	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sales of foreclosed loans and other real estate
-	-	-	-	-	46	46	230	224	286	286	1,163	2,061	2,850	2,854	5,913	6,614	6,691	7,762	4,548	4,062	3,865	4,307	5,571	16,821	17,892	58,330	58,272	49,224	56,915	23,089	30,486	44,947	42,362	0	0	0
Proceeds from bank-owned life insurance death benefits
-	-	-	-	-	-	-	-	-	3,240	2,921	1,933	2,288	1,506	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	1,997	1,997	1,446	1,423	158	0	0	0
Net purchases of premises, equipment and land
12,023	7,197	4,127	2,792	3,320	3,225	4,218	4,220	5,636	6,531	7,171	7,857	6,824	5,896	6,377	6,579	5,438	5,817	4,606	4,865	6,634	6,017	6,792	5,785	5,366	6,287	4,846	4,870	4,514	3,696	2,811	1,864	922	747	0	0	0
Net return of capital from unconsolidated subsidiaries
0	622	1,244	1,244	1,244	622	109	203	220	658	666	688	715	645	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions to unconsolidated subsidiaries
0	-	-	-	0	-	-	-	-	-	-	-	-	5	5	5	5	0	0	0	0	-	-	-	9,060	9,050	0	0	0	-	-	-	-	-	-	-	-
Net (purchases of) proceeds from redemption of FHLB stock
-1,964	1,662	-6,218	-7,578	-7,138	-8,884	-4,481	-3,754	-1,674	3,811	5,689	8,726	3,087	-2,966	-125	-3,089	33,022	35,326	32,409	32,882	2,150	2,261	2,169	2,048	1,902	1,735	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-267,848	-128,972	-163,092	-168,902	-111,599	-211,143	-245,296	-263,469	-304,550	-296,127	-292,174	-250,898	-244,782	-277,216	-304,081	-339,333	-304,465	-315,141	-292,523	-259,066	-148,085	-83,135	-40,028	-101,114	-410,962	-442,050	-487,661	-416,508	-215,216	-306,278	-258,507	-333,267	-574,264	-687,244	0	0	0
Cash flows from financing activities:
Net increase in deposits
187,941	173,533	33,979	-2,250	-32,303	-9,864	76,183	92,717	202,987	348,153	408,919	481,240	280,842	174,762	288,075	222,820	307,960	323,139	182,407	179,744	202,875	174,127	141,832	146,912	221,076	255,401	284,674	293,349	256,888	237,244	273,557	331,997	362,340	310,581	0	0	0
Repayments of long-term debt
0	20,619	41,238	41,238	41,238	20,619	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	14	15,483	15,482	15,481	15,482	17	17	18	50,017	150,062	300,787	301,005	301,219	0	0	0
Net increase (decrease) in short-term borrowings
43,000	-47,000	100,000	134,000	123,000	165,000	105,000	87,000	35,000	-103,000	-150,000	-226,000	-85,000	66,000	-5,000	69,000	36,000	31,000	155,000	128,000	-32,000	29,985	0	0	0	-	-	-	-	-34	-1,224	-1,385	-1,423	-202,446	0	0	0
Cash dividends paid on common stock
26,150	25,706	25,293	24,901	24,525	24,143	23,450	22,742	22,047	21,299	20,812	20,317	19,163	18,619	28,120	26,919	26,350	26,143	15,282	15,112	14,206	13,405	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock and other related costs
19,834	22,793	26,027	28,693	30,421	32,824	30,018	33,433	33,141	26,559	25,426	18,870	16,985	18,206	14,084	14,553	88,995	93,533	106,547	102,538	82,820	142,405	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash and cash equivalents
-5,186	786	5,479	9,212	32,399	19,893	-18,556	-51,056	-40,253	-2,048	4,901	49,885	13,358	4,147	19,370	9,176	7,454	-5,813	-6,117	-5,529	-6,045	36,659	-6,778	-50,155	-123,243	-128,027	-123,774	-36,337	86,975	-79,697	-79,188	-279,952	-473,648	-533,667	0	0	0
Net cash provided by financing activities
185,108	57,566	91,421	86,918	44,513	127,550	127,715	123,542	182,799	197,295	213,023	216,795	160,635	204,878	241,830	250,907	228,975	234,823	215,578	190,089	73,913	48,362	-44,103	6,420	216,910	229,492	297,509	293,332	256,870	187,193	123,132	29,826	75,133	130,454	0	0	0
Supplemental disclosure of cash flow information:
Cash paid during the period for
Interest
30,810	33,072	32,709	30,307	27,468	23,943	19,589	17,808	15,198	12,717	11,541	10,180	9,316	8,705	7,873	7,200	6,639	6,453	6,458	6,369	6,358	6,413	6,620	6,877	6,866	19,260	18,569	18,060	17,883	5,622	6,572	9,823	26,290	18,138	0	0	0
Income taxes
24,271	24,101	17,601	9,402	1	23	524	4,423	8,423	8,401	0	0	0	-	-	-	-	1,642	0	0	0	-	-	-	-	5	0	0	0	-	-	-	-	86	0	0	0
Cash received during the year for:
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	185	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental non-cash disclosures:
Net change in common stock held by directors' deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	681	537	99	203	154	154	154	95	11	11	11	12	39	39	39	55	27	27	27	-67	-16	0	0	0
Net reclassification of loans to foreclosed loans and other real estate
-	-	-	-	-	40	40	40	194	154	0	0	0	-	-	-	-	5,903	6,710	6,309	3,780	2,783	2,649	2,652	4,090	4,358	5,334	6,101	4,942	4,846	11,811	40,545	54,183	47,064	0	0	0
Net transfer of investment securities held-to-maturity to available-for-sale
0	-149,042	149,042	149,042	-149,042	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use lease assets obtained in exchange for lease liabilities
892	56,779	55,887	55,887	55,887	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net transfer of portfolio loans to loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,487	13,901	12,673	13,929	13,639	0	0	0
Dividends accrued on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	969	0	0	0
Accretion of preferred stock discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	204	0	0	0
Preferred stock and accrued unpaid dividends converted to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	142,988	0	0	0
Common stock issued in exchange for preferred stock and accrued unpaid dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56,201	0	0	0