Centerstate bank corporation (CSFL)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

35,432

71,132

55,701

55,122

44,643

50,651

37,985

32,163

35,636

1,912

22,050

15,233

16,600

16,027

15,384

15,734

-4,804

10,396

9,916

9,878

9,148

7,281

3,593

1,037

1,053

1,800

3,109

2,758

4,576

2,236

2,642

3,714

1,313

14,082

-1,992

-4,346

165

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

44,914

3,048

3,692

2,792

1,053

2,100

1,950

2,933

1,300

968

1,096

1,899

995

2,266

1,275

911

510

543

0

2,308

1,642

18

955

-106

-41

183

-1,273

1,374

-360

2,169

2,425

1,894

2,732

18,065

5,005

11,645

11,276

Credit loss on unfunded commitments

1,027

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation of premises and equipment

4,045

4,151

3,887

3,550

2,850

2,752

2,439

2,322

2,275

1,884

1,842

1,837

1,684

1,659

1,629

1,588

1,497

1,442

1,438

1,403

1,433

1,483

1,542

1,563

1,478

1,560

1,364

1,455

1,497

1,530

1,465

1,416

1,267

1,196

1,016

996

999

Accretion of purchase accounting adjustments

12,575

17,435

13,467

15,391

12,982

13,406

10,611

15,299

11,815

7,611

7,943

9,421

9,289

10,186

8,708

9,555

9,523

9,761

9,964

12,604

10,523

8,596

10,443

9,067

8,092

7,786

8,919

8,008

7,858

43,963

-6,232

-6,765

-5,755

22,488

-3,003

-2,929

-3,707

Net amortization of investment securities

-2,273

-3,001

-2,960

-2,743

-2,421

-2,736

-3,429

-3,115

-3,169

-2,565

-2,461

-2,346

-2,582

-3,212

-3,161

-3,075

-2,061

-2,223

-2,352

-2,459

-2,013

-1,793

-1,764

-1,665

-1,175

-1,120

-1,628

-1,826

-1,899

-1,960

-1,968

-2,153

-2,481

-2,138

-1,620

-1,617

-1,909

Net deferred loan origination fees

-435

151

-314

-1,319

-344

-596

-1,204

-72

-1

-31

83

-13

-384

44

-40

317

77

638

50

-254

-139

73

40

250

162

269

137

215

241

64

122

89

-94

145

-119

56

8

Gain on sale of securities available for sale debt securities

-

13

0

-5

17

0

0

0

-22

-7

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

22

0

1,008

30

420

675

726

602

130

205

3,120

9

Trading securities revenue

153

-6

51

29

25

45

-10

22

0

50

37

74

81

101

54

10

354

66

79

84

174

43

57

42

27

43

81

-15

146

156

257

133

144

88

130

106

161

Purchases of trading securities

54,723

76,984

47,787

18,337

51,691

20,365

47,011

140,239

46,940

43,551

42,421

118,168

25,934

63,767

33,747

40,902

47,734

33,592

37,611

38,408

38,082

54,058

51,797

36,425

28,809

26,656

42,281

67,371

61,878

94,975

81,052

110,490

80,588

439,310

-307,962

53,533

64,549

Proceeds from sale of trading securities

51,431

76,264

44,216

17,715

53,453

18,673

48,849

138,841

53,289

39,797

41,419

116,308

38,398

53,651

31,635

43,631

47,476

32,817

37,932

38,001

40,659

51,337

51,287

36,378

28,836

27,097

41,964

67,356

67,072

90,083

82,370

110,114

80,180

59,638

73,177

54,582

64,743

Repossessed real estate owned valuation write down

95

165

65

57

108

18

170

107

187

70

141

310

161

220

237

392

22

191

237

390

389

1,016

329

885

1,020

161

3,184

1,680

987

1,433

1,735

835

255

2,092

1,389

1,235

2,035

Loss on sale of repossessed real estate owned

-1

199

213

63

-47

740

294

745

154

676

38

58

104

258

558

554

158

-530

282

-27

1,528

667

577

-379

-77

-708

-1,852

-563

1

-531

-153

-229

-272

-907

307

-463

518

Repossessed assets other than real estate valuation write down

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5

13

5

47

26

18

33

56

-79

145

62

15

(Gain) loss on repossessed assets other than real estate

8

-43

-3

84

-13

-128

9

6

-25

4

13

-1

7

-79

-4

31

6

-

15

0

-1

47

-17

-19

2

-651

26

99

195

-78

19

7

42

135

73

20

6

Gain on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of residential loans held for sale

10,781

9,357

9,470

6,688

3,976

4,191

2,668

2,370

1,574

579

404

297

231

210

302

223

98

112

163

127

164

131

197

107

76

78

85

83

87

98

53

36

83

231

-140

27

25

Residential loans originated and held for sale

423,622

399,414

365,807

257,383

134,752

161,266

91,910

92,218

58,098

39,836

23,443

19,641

10,722

8,865

11,695

13,763

5,425

6,338

7,885

8,276

7,431

7,305

7,760

6,381

4,610

5,325

4,612

6,045

4,842

7,187

4,402

4,035

3,307

17,580

-8,411

2,211

929

Proceeds from sale of residential loans held for sale

391,242

391,487

345,101

233,962

129,657

164,970

94,226

87,066

57,321

33,011

20,563

13,616

10,601

9,123

13,993

11,843

5,598

5,727

8,898

7,269

8,324

6,707

9,031

5,909

4,926

5,710

5,140

6,499

5,507

6,283

4,440

2,677

6,833

4,016

2,402

1,507

1,459

Net change in fair value of residential loans held for sale

2,354

335

-102

937

4

358

1

359

363

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposal of and or sale of fixed assets

6

3

12

10

1

0

752

7

3

8

0

217

0

-

-

-

-

-

-

-

-

1

7

4

7

-

-

-

5

-14

240

-30

37

45

-56

1

27

Gain on disposal of bank property held for sale

236

233

96

461

618

930

655

931

159

36

175

0

129

690

67

38

2

-16

0

16

41

-

-

-

-

-31

0

0

31

-

-

-

-

-

-

-

-

Impairment on bank property held for sale

31

808

506

315

107

80

247

891

1,449

12

0

430

77

76

616

0

458

78

12

0

682

-244

-6

0

2,506

-

-

-

0

-

-

-

-

-

-

-

-

Gain on sale of small business administration loans

1,403

1,785

1,411

1,252

688

497

1,020

1,027

988

333

249

179

14

150

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Small business administration loans originated for sale

12,255

17,308

14,016

13,577

7,482

6,245

9,762

9,546

10,140

5,645

4,048

2,249

326

2,672

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of small business administration loans

13,658

19,093

15,427

14,829

8,170

6,742

10,782

10,573

11,128

5,978

4,297

2,428

340

2,822

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-4,306

8,438

4,643

5,046

6,114

6,952

3,973

2,826

7,760

21,174

3,070

2,540

4,408

4,968

4,020

4,638

-9,979

2,526

1,016

1,018

452

5,328

-2,956

-4,363

3,724

-1,322

-830

996

1,188

1,625

782

1,637

342

7,722

-1,265

-3,036

-121

Tax deduction in excess of book deduction for stock awards

1,391

399

92

132

376

132

177

1,301

4,539

600

205

1,119

1,083

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock based compensation expense

1,796

1,523

1,122

1,286

1,218

1,181

1,012

1,009

991

1,253

1,080

1,114

1,139

1,172

1,109

1,062

1,080

866

775

812

830

1,004

204

182

187

173

147

143

146

153

160

158

160

170

163

177

195

Bank owned life insurance income

1,927

2,057

2,048

2,070

1,626

1,718

1,490

1,374

1,394

983

975

694

641

657

658

654

565

574

580

599

593

608

451

356

352

324

327

338

339

355

360

363

358

266

227

235

239

FDIC indemnification asset amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,166

3,420

4,144

4,649

4,350

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from termination of FDIC loss share agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

17,560

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bargain purchase gain

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

453

45,891

0

0

11,129

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

-10,211

-9,442

2,325

-12,450

-11,461

-4,664

-8,428

-965

-47,518

53,592

-3,271

-7,241

5,065

5,627

2,787

-18,171

13,342

655

-2,386

-4,893

4,177

18,283

-7,724

-5,714

3,234

14,441

305

-5,421

-1,484

-284

2,816

-777

-34

-1,390

1,545

-1,064

1,780

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

-12,867

-21,785

30,469

-16,398

-5,019

-12,497

-5,942

37,881

-29,430

2,652

2,306

-2,613

8,280

-7,376

2,117

-10,474

15,864

-8,858

7,535

-1,626

3,804

-9,409

5,760

4,125

-3,946

1,659

1,708

328

-1,008

-3,839

583

4,906

-2,501

-7,862

1,717

199

3,141

Net cash provided by operating activities

17,984

41,143

51,413

18,379

42,402

39,853

41,791

55,320

56,474

-43,414

23,562

10,586

32,023

-5,394

16,624

24,586

929

212

20,023

11,617

11,151

-2,871

7,915

709

-4,376

-2,259

1,291

7,455

7,772

-5,304

3,000

8,108

2,233

-13,366

4,691

3,041

3,777

Cash flows from investing activities:
Purchases of investment securities

229,404

0

1,802

2,245

1,037

-53,814

5,386

65,272

23,944

10,201

0

41,472

5,000

29

10,025

0

0

-3,867

0

2,863

1,004

-

-

-

-

-1

0

0

31,133

-45,356

57,366

3,461

10,686

10,869

46,982

13,014

22,753

Purchases of mortgage-backed securities

50,138

330,638

60,632

7,157

66,624

249,162

62,318

31,635

196,692

278,799

33,413

29,681

102,253

49,019

51,496

70,887

122,807

149,803

0

43,153

22,306

0

19,359

1

176,583

22,003

0

132,265

50,737

78,829

0

0

99,503

75,221

116,787

42,080

135,786

Proceeds from pay-downs of mortgage-backed securities

78,830

93,242

82,679

72,245

53,579

56,083

59,522

57,502

44,755

32,387

32,023

28,822

30,685

39,789

36,204

33,294

21,486

22,922

25,205

25,577

20,554

21,574

22,319

21,849

17,187

17,532

26,286

28,244

29,271

32,210

30,103

29,190

34,878

29,703

22,257

23,808

31,764

Proceeds from sales of investment securities

-

-

0

41,991

2,309

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of investment securities

-

-

-

-

-

-

-

-

58,768

0

0

104,260

0

0

360

0

79,297

0

0

0

0

0

0

42,528

19,583

603

0

31,201

0

-503

10,449

31

12,781

-

-

-

-

Proceeds from sales of mortgage-backed securities

-

96,164

0

0

64,177

-8,500

0

8,500

296,884

51,868

0

156,564

0

0

0

0

62,418

0

16,305

0

0

0

0

220,193

41,233

0

0

27,902

9,789

28,774

15,012

29,456

72,809

0

0

109,223

33,349

Proceeds from maturities of investment securities

0

0

0

0

295

0

61,000

0

0

0

0

0

1,000

615

0

0

0

-

-

-

-

-

-

-

-

0

0

0

165

108

0

159

45

104

558

175

244

Proceeds from called investment securities

3,110

-

-

-

-

165

0

505

540

155

0

710

0

777

5,763

3,430

920

3,715

1,600

590

0

-

-

-

-

730

5,000

470

3,200

635

19,060

18,150

38,400

7,845

30,605

35,620

17,900

Purchases of investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

12,858

15,028

32,281

11,149

39,474

5,454

10,453

37,882

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of mortgage-backed securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

30,776

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from called investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

14,824

7,336

15,000

20,600

7,500

0

7,315

37,110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from pay-downs of mortgage-backed securities

3,551

3,993

3,256

3,181

2,317

2,719

3,646

3,786

4,081

5,077

4,909

4,614

6,274

10,574

10,448

10,200

6,227

7,050

7,188

11,743

8,868

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of FHLB, FRB and other stock

20,344

33

37,698

10,625

4,717

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of FHLB, FRB and other stock

20,188

4,250

8,500

25,851

10,826

15,300

2,125

0

18,819

0

0

5,572

0

0

0

0

29

0

0

0

208

2,957

0

-1

1,055

-10

0

291

1,279

-

-

-

-

-

-

-

-

Purchases of FHLB and FRB stock

-

-

-

-

-

-

-

-

12,723

-

9,063

0

241

-

0

0

0

7

9

14

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (increase) decrease in loans

16,919

52,331

192,879

22,887

-1,956

104,043

31,738

146,460

81,160

83,676

25,906

93,829

82,699

126,094

91,567

38,117

32,123

25,621

24,656

57,604

28,103

-12,152

34,224

-23,365

-22,898

14,549

22,675

21,728

-19,139

-13,947

-12,945

456

-25,046

-5,995

-17,062

-18,834

-8,704

Cash received from FDIC loss sharing agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,482

-1,629

1,275

1,362

3,654

421

2,083

2,211

5,299

5,777

7,856

7,677

20,694

-38,926

12,946

2,160

2,033

-

-

-

961

Purchase of bank owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,000

-

-

-

-

Purchases of premises and equipment, net

3,813

5,017

8,558

6,308

3,931

6,500

6,859

6,498

4,168

2,165

2,627

3,228

2,269

1,907

2,189

983

1,604

966

1,109

1,961

3,111

1,359

1,846

2,252

-3,470

-

-

-

489

1,749

-362

5,453

2,585

2,974

2,027

2,359

1,981

Proceeds from sale of repossessed real estate

438

3,182

2,528

3,205

430

3,390

2,263

3,357

3,581

3,017

649

1,489

1,656

2,781

4,979

5,707

4,541

4,245

8,481

7,626

11,589

11,320

11,413

7,500

6,762

6,229

10,261

6,103

5,992

5,515

7,213

4,243

5,929

-

4,442

6,206

3,799

Proceeds from sale of fixed assets

9

-

-

-

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from insurance claims related to repossessed real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

263

Proceeds from sale of fixed assets

-

-

-

-

-

-

-

8

3

-

-

-

-

-

-

-

-

340

40

9

0

1

-38

49

7

123

0

8

5

0

1,117

0

37

404

31

1

70

Proceeds from sale of bank property held for sale

2,639

5,293

1,566

5,524

6,365

3,651

3,941

6,006

2,403

1,024

1,708

1,361

3,344

2,858

792

0

690

0

0

963

555

-

-

-

-

0

0

0

931

-

-

-

-

-

-

-

-

Net cash from bank acquisitions

-

-

-

-

-

0

148,396

0

81,293

0

0

86,530

0

0

0

0

41,885

0

12,537

0

0

0

-3

53,492

77,005

-

-

-

0

0

0

0

81,061

73,228

0

0

4,349

Net cash (used in) provided by investing activities

-211,853

-148,491

-202,972

371,279

65,946

-282,800

172,567

-170,201

192,440

-287,920

-66,108

222,260

-149,503

-118,355

-104,423

-88,367

75,892

-167,861

41,403

-91,639

-9,868

-181,243

-42,318

366,708

17,916

-6,562

24,575

-53,125

8,106

49,486

52,993

76,847

150,245

61,075

-67,040

147,045

-59,117

Cash flows from financing activities:
Net increase in deposits

985,602

-225,792

152,195

-20,196

269,954

3,252

-94,252

110,210

77,873

135,377

-49,529

-49,795

144,691

96,817

-75,933

40,305

171,278

30,115

34,210

-12,690

57,567

26,087

-70,677

-104,102

23,629

94,336

-14,647

-36,782

16,543

-373

-57,877

-76,217

-204,733

-69,629

26,277

-61,559

27,498

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

-11,405

16,809

-1,945

413

1,259

6,461

-488

2,197

-2,831

5,980

-914

3,579

9,439

1,538

-3,702

-883

3,458

-1,040

-11,686

9,127

4,049

-3,434

-3,163

7,503

-1,917

-1,693

260

1,469

1,629

-2,249

-2,726

2,592

6,523

170

-4,170

3,130

1,733

Net (decrease) increase in federal funds purchased

123,760

-120,116

17,886

26,054

-8,657

-22,358

-37,790

51,440

45,838

4,041

-78,920

11,766

-6,391

-3,657

-84,213

51,182

-25,048

-38,947

9,916

16,224

-35,451

-109,922

1,010

2,103

-15,274

15,447

7,918

-8,144

-6,198

7,642

-1,237

29,122

-19,835

6,719

26,092

4,676

-23,616

Net increase (decrease) in other borrowings

50,000

-115,000

115,000

-50,000

-150,000

-10,000

40,000

50,000

-157,920

175,000

0

-134,732

0

0

0

-650

-56,768

25,000

0

0

0

0

0

0

-5,708

-

-

-

0

-

-

0

10,000

-3,000

0

-3,000

-9,000

Extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,680

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in payable to shareholders for acquisitions

-3

-1

-9

-52

-1

-8

-191

-17

-1

-41

-24

-12

-12

-44

-51

-209

342

-197

-26

-59

-184

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised

1,359

549

295

1,058

1,199

455

398

2,698

11,156

1,402

304

3,661

1,348

1,051

42

373

303

-

-

-

-

-

74

-15

909

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from stock offering, net of offering costs

-

-

-

-

-

-

-

-

-

0

0

0

63,262

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised, including tax benefit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

210

355

217

-

-

-

-

-

-

-

0

-

-

-

-

0

1

0

95

Stock repurchased

33,914

22,787

70,260

38,631

399

0

29

18

980

344

30

14

743

560

38

17

347

218

0

798

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

17,377

13,766

13,892

14,195

10,547

9,569

9,560

8,404

8,373

3,609

3,603

3,599

3,067

1,922

1,921

1,920

1,918

909

909

908

455

453

451

450

355

302

300

301

301

301

301

301

300

300

301

300

300

Net cash provided by financing activities

850,502

-239,872

151,499

-148,123

120,122

3,949

-991

105,226

-126,914

309,724

25,124

-192,678

221,309

100,537

2,610

-14,183

132,716

91,700

11,883

-21,197

96,645

131,961

-271,040

-71,669

31,832

76,894

-22,605

-27,470

24,069

-10,565

-69,667

-103,048

-168,675

-79,478

-4,285

-66,405

43,642

Net increase in cash and cash equivalents

656,633

-347,220

-60

241,535

228,470

-238,998

213,367

-9,655

122,000

-21,610

-17,422

40,168

103,829

-23,212

-85,189

-77,964

209,537

-75,949

73,309

-101,219

97,928

-52,153

-305,443

295,748

45,372

68,073

3,261

-73,140

39,947

33,617

-13,674

-18,093

-16,197

-31,769

-66,634

83,681

-11,698

Supplemental Information
Transfer of loans to other real estate owned

5,384

1,682

3,057

2,224

3,657

934

1,149

1,281

1,297

494

234

556

1,824

2,316

1,352

1,919

2,372

5,482

2,421

3,624

3,264

3,618

4,695

4,614

3,432

6,181

7,733

6,727

8,940

9,312

3,828

5,745

7,270

2,817

6,853

6,404

4,826

Transfers of bank property to held for sale

-

-

-

-

-

800

0

2,092

1,410

398

0

4,136

0

521

1,612

0

2,803

269

0

0

970

0

0

0

4,647

-

-

-

0

-

-

-

-

-

-

-

-

New right-of-use operating lease assets

4,749

1,611

1,977

14,266

21,351

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid during the period for:
Interest

23,889

27,653

30,005

26,599

17,689

16,795

12,743

10,272

8,640

5,170

4,896

4,447

2,980

1,952

2,714

2,833

1,421

2,003

1,994

2,071

2,187

2,193

2,526

2,097

1,727

1,548

1,574

1,686

1,799

2,113

2,496

2,864

2,846

3,169

3,309

3,692

3,920

Income taxes

-

-

-

-

-

-

-

-

-

8,925

2,045

6,848

0

5,610

5,019

6,967

2,923

3,049

3,931

7,452

170

2,686

299

3,942

1,520

1,728

962

598

185

-

-

-

-

57

31

122

25