Centerstate bank corporation (CSFL)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income

226,598

156,435

55,795

42,341

39,338

12,964

12,243

9,905

7,909

-5,938

-6,217

Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses

10,585

8,283

4,958

4,962

4,493

826

-76

9,220

45,991

29,624

23,896

Depreciation of premises and equipment

14,438

9,788

7,247

6,373

5,716

6,066

5,876

5,678

4,207

3,350

2,882

Accretion of purchase accounting adjustments

59,275

51,131

34,264

37,972

42,852

36,198

32,571

25,211

12,849

-4,788

-800

Impairment of core deposit intangible

-

-

-

-

-

-

-

-

-

-

-1,200

Net amortization of investment securities

-11,125

-12,449

-9,954

-11,509

-9,047

-6,397

-6,473

-8,562

-7,284

-6,235

-5,017

Net deferred loan origination fees

-1,826

-1,873

-345

398

295

525

862

181

90

11

-25

Gain on sale of securities available for sale debt securities

25

-22

-7

13

4

46

1,060

2,423

3,464

7,034

2,516

Trading securities revenue

99

57

242

519

403

169

255

690

485

622

427

Purchases of trading securities

194,799

254,555

230,074

186,150

147,693

171,089

198,186

367,105

249,430

304,750

32,714

Proceeds from sale of trading securities

191,648

259,652

235,922

176,393

149,409

167,838

203,489

362,747

252,140

303,147

33,141

Repossessed real estate owned valuation write down

395

482

682

871

1,207

3,250

6,012

4,258

6,751

2,951

2,188

Loss on sale of repossessed real estate owned

428

1,933

876

1,528

1,253

788

-3,122

-1,185

-545

756

772

Repossessed assets other than real estate valuation write down

-

-

-

-

7

32

70

133

143

188

317

(Gain) loss on repossessed assets other than real estate

25

-138

23

-46

-

13

-331

-10

234

270

227

Gain on extinguishment of debt

-

-

-

308

0

-

-

-

-

-

-

Gain on sale of residential loans held for sale

29,491

10,803

1,511

833

566

511

333

270

143

95

-

Residential loans originated and held for sale

1,157,356

403,492

93,642

39,748

29,930

26,056

20,824

18,931

12,309

7,858

-

Proceeds from sale of residential loans held for sale

1,100,207

403,583

77,791

40,557

30,218

26,573

22,856

20,233

9,384

7,280

-

Net change in fair value of residential loans held for sale

1,174

1,081

-

-

-

-

-

-

-

-

-

Gain on disposal of and or sale of fixed assets

26

762

225

-1

-19

19

12

233

17

-25

79

Gain on disposal of bank property held for sale

1,408

2,675

340

797

41

174

0

-

-

-

-

Impairment on bank property held for sale

1,736

2,667

519

1,150

772

2,256

0

614

-

-

-

Gain on sale of small business administration loans

5,136

3,532

775

150

-

-

-

-

-

-

-

Small business administration loans originated for sale

52,383

35,693

12,268

2,672

-

-

-

-

-

-

-

Proceeds from sale of small business administration loans

57,519

39,225

13,043

2,822

0

-

-

-

-

-

-

Gain on sale of deposits

0

611

0

-

-

-

-

-

-

-

-

Gain on sale of trust department

-

-

1,224

-

-

-

-

-

-

-

-

Deferred income taxes

24,241

21,511

31,192

3,647

5,012

1,733

32

4,386

3,300

-2,266

-5,386

Tax deduction in excess of book deduction for stock awards

999

6,149

3,007

-

0

-

-

-

-

-

-

Stock based compensation expense

5,149

4,193

4,586

4,423

3,283

1,577

609

631

705

699

414

Bank owned life insurance income

7,801

5,976

3,293

2,534

2,346

1,767

1,328

1,436

967

774

550

FDIC indemnification asset amortization

-

-

-

1,166

16,563

20,743

13,807

-

-

-

-

Loss from termination of FDIC loss share agreements

-

-

-

17,560

0

-

-

-

-

-

-

Bargain purchase gain

-

-

-

-

-

-

-

453

57,020

1,377

-

Net cash from changes in:
Net changes in accrued interest receivable, prepaid expenses, and other assets

-31,028

-61,575

48,145

3,585

-2,447

8,079

7,841

1,721

871

-11,250

7,519

Net change in accrued interest payable, accrued expense, and other liabilities

-12,733

-9,988

10,625

131

855

-3,470

2,687

-851

-2,805

-8,541

2,069

Net cash provided by operating activities

153,337

193,438

22,757

36,745

43,003

1,377

14,259

8,037

-1,857

21,721

15,940

Cash flows from investing activities:
Purchases of investment securities

5,084

40,788

56,673

10,054

0

-

31,132

26,157

93,618

336,692

25,792

Purchases of mortgage-backed securities

465,051

539,807

444,146

294,209

215,262

195,943

205,005

178,332

369,874

272,152

530,920

Proceeds from pay-downs of mortgage-backed securities

301,745

217,862

123,917

130,773

94,258

82,929

101,333

126,381

107,532

127,599

143,570

Proceeds from sales of investment securities

66,811

58,768

104,260

79,657

0

62,111

31,804

22,758

30,765

34,817

43,333

Proceeds from sales of mortgage-backed securities

160,341

296,884

208,432

62,418

16,305

261,426

37,691

146,051

142,572

200,456

159,524

Proceeds from maturities of investment securities

295

61,000

1,000

615

-

-

165

312

1,081

14,827

5,993

Proceeds from called investment securities

10,870

1,210

865

10,890

5,905

2,050

9,400

76,245

91,970

198,865

11,039

Purchases of investment securities

0

0

2,693

71,316

93,263

75,654

0

-

-

-

-

Purchases of mortgage-backed securities

0

0

1,695

3,730

30,776

162,377

0

-

-

-

-

Proceeds from called investment securities

-

-

-

57,760

51,925

-

0

-

-

-

-

Proceeds from pay-downs of mortgage-backed securities

12,747

14,232

20,874

37,449

34,849

581

0

-

-

-

-

Purchases of FHLB, FRB and other stock

53,073

67,115

15,919

666

-

-

-

-

-

-

-

Proceeds from sales of FHLB, FRB and other stock

49,427

36,244

5,572

29

208

4,011

1,560

4,835

3,561

272

-143

Purchases of FHLB and FRB stock

-

-

-

-

30

3,580

0

1,986

-

866

2,724

Net (increase) decrease in loans

266,141

363,401

286,110

287,901

135,984

-24,191

39,813

-51,482

-50,595

-3,324

93,977

Cash received from FDIC loss sharing agreements

-

-

-

5,482

4,662

10,014

42,004

-21,787

11,620

-

-

Proceeds from the sale of loans in wholesale market

-

-

-

-

-

-

-

-

18,251

8,579

-

Purchase of bank owned life insurance

0

0

30,000

10,000

0

25,000

0

10,000

-

11,000

5,000

Purchases of premises and equipment, net

23,814

24,025

10,289

6,683

7,147

1,987

4,665

9,425

9,341

24,121

3,917

Proceeds from sale of repossessed real estate

9,345

12,591

6,811

18,008

31,941

36,995

28,585

22,900

-

7,370

4,419

Proceeds from sale of fixed assets

92

2,661

556

-

-

-

-

-

-

-

-

Proceeds from sale of fixed assets

-

-

-

-

389

19

136

1,154

506

-

92

Proceeds from sale of bank property held for sale

18,748

16,001

7,437

4,340

1,518

10,783

931

505

-

-

-

Proceeds from sale of other real estate owned

-

-

-

-

-

-

-

-

18,766

-

-

Net cash from bank acquisitions

268,504

229,689

86,530

41,885

12,537

130,494

0

81,061

77,577

55,368

155,640

Net cash (used in) provided by investing activities

85,762

-87,994

-281,271

-235,253

-227,965

161,063

-27,006

329,571

81,963

6,646

-138,577

Cash flows from financing activities:
Net increase in deposits

176,161

97,083

180,744

232,467

109,202

-125,063

59,450

-339,200

-77,413

37,208

132,536

Sale of deposits

-

25,341

-

-

-

169,748

0

-

-

-

-

Net (decrease) increase in securities sold under agreement to repurchase

16,536

5,339

18,084

411

450

-1,011

1,665

4,140

863

-15,773

3,105

Net (decrease) increase in federal funds purchased

-84,833

37,130

-69,504

-61,736

-48,258

-122,083

9,023

15,692

13,871

76,444

-55,963

Net increase (decrease) in other borrowings

-200,000

-77,920

40,268

-57,418

25,000

-5,708

0

-

-15,000

-20,741

-4,750

Extinguishment of debt

-

-

-

8,680

0

-

-

-

-

-

-

Net decrease in payable to shareholders for acquisitions

-63

-217

-89

38

-466

1,256

0

-

-

-

-

Termination of corporate debentures

-

9,000

-

-

-

-

-

-

-

-

-

Stock options exercised

3,101

14,707

6,715

1,769

784

-

-

-

-

-

-

Proceeds from stock offering, net of offering costs

0

0

63,262

0

0

-

-

-

-

32,872

80,879

Redemption of perpetual preferred stock

-

-

-

-

-

-

-

-

-

-

27,875

Repurchase of TARP warrant

-

-

-

-

-

-

-

-

-

-

212

Adjustment to net proceeds from preferred stock and warrant issue

-

-

-

-

-

-

-

-

-

-

-6

Stock options exercised, including tax benefit

-

-

-

-

-

984

0

-

96

735

187

Stock repurchased

132,077

1,027

1,131

962

1,016

-

0

-

-

-

-

Dividends paid

52,400

35,906

13,878

7,681

3,181

1,709

1,204

1,203

1,201

1,116

2,335

Purchase of noncontrolling interest

11,400

-

-

-

-

-

-

-

-

-

-

Cash distribution paid to noncontrolling interest

1,065

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-116,374

-18,730

363,479

221,680

179,031

-178,916

50,888

-351,955

-106,526

-43,259

237,492

Net increase in cash and cash equivalents

122,725

86,714

104,965

23,172

-5,931

-16,476

38,141

-14,347

-26,420

-14,892

114,855

Supplemental Information
Transfer of loans to other real estate owned

10,620

4,661

3,108

7,959

14,791

16,359

29,581

26,155

20,900

15,427

13,081

Transfers of bank property to held for sale

6,450

4,302

4,534

4,936

1,239

4,647

0

2,987

-

-

-

New right-of-use operating lease assets

39,205

-

-

-

-

-

-

-

-

-

-

Cash paid during the period for:
Interest

101,946

48,450

17,493

8,920

8,255

8,543

6,607

10,319

14,090

17,853

23,932

Income taxes

42,553

16,624

17,818

20,519

14,602

8,447

3,473

10

235

422

892