Codorus valley bancorp inc (CVLY)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities
Net (loss) income

18,647

19,542

12,004

13,102

11,135

11,769

10,566

9,394

6,779

6,208

3,434

Adjustments to reconcile net (loss) income to net cash provided by operations:
Depreciation/amortization

2,645

2,423

2,357

2,343

2,266

1,772

1,546

1,377

1,310

1,363

1,394

Net amortization of premiums on securities

-375

-422

-667

-912

-1,042

-978

-1,223

-1,438

-1,449

-1,181

-689

Amortization of deferred loan origination fees and costs

1,480

1,554

1,640

1,049

835

774

588

311

265

323

255

Net amortization of operating lease right of use assets

760

0

0

-

-

-

-

-

-

-

-

Net amortization of finance lease right of use assets

177

0

0

-

-

-

-

-

-

-

-

Repayment of lease obligations

882

0

0

-

-

-

-

-

-

-

-

Amortization of intangible assets

-

-

-

-

-

-

-

190

95

40

40

Provision

2,450

2,700

4,175

3,000

3,500

1,600

1,470

1,750

4,935

2,990

3,715

Provision for losses on foreclosured real estate

643

0

-

-

-

-

-

-

-

-

-

Provision for losses on foreclosured real estate

-

-

47

-

-

-

-

-

-

-

-

Recovery of foreclosed real estate

-

-

-

-31

-622

60

342

-

-

-

-

Provision for losses on foreclosed real estate

-

-

-

-

-

-

-

2,663

829

1,566

189

Deferred income tax (benefit) expense

-595

-34

3,287

-1,021

32

77

-437

385

-1,057

-1,144

-

Amortization of investment in real estate partnership

-

-

-

-

-

208

-

-

-

-

-

Deferred income tax benefit

-

-

-

-

-

-

-

-

-

-

-2,014

Amortization of investment in real estate partnership

-

-

-

-

-

-

325

335

583

562

541

Increase in bank owned life insurance

1,252

972

1,028

861

694

714

727

633

647

637

636

Originations of mortgage loans held for sale

43,284

35,537

39,687

42,260

31,821

-

-

-

-

-

-

Originations of SBA loans held for sale

6,951

13,932

5,316

1,400

0

-

-

-

-

-

-

Proceeds from sales of mortgage loans held for sale

39,368

36,602

40,203

42,191

32,388

-

-

-

-

-

-

Proceeds from sales of SBA loans held for sale

4,120

11,781

5,416

1,117

0

-

-

-

-

-

-

Net gain on sales of mortgage loans held for sale

911

905

1,039

894

-

-

-

-

-

-

-

Gain on sales of SBA loans held for sale

295

806

395

76

-

-

-

-

-

-

-

Originations of loans held for sale

-

-

-

-

-

21,894

52,877

72,298

47,106

55,445

76,264

Proceeds from sales of loans held for sale

-

-

-

-

-

22,396

56,215

73,403

50,004

52,421

79,345

Gain on sales of loans held for sale

-

-

-

-

667

452

-

-

-

-

-

Net gain on sales of loans held for sale

-

-

-

-

-

-

1,019

1,327

777

860

960

Loss on sales of securities held-to-maturity

-

-

-

-

-

-

-

-

-

-

-2

Gain on disposal of premises and equipment

-350

11

9

-4

-105

-5

-1

-9

3

-8

-7

Gain on lease write off

8

0

0

-

-

-

-

-

-

-

-

(Gain) loss on sales of securities, available-for-sale

-9

0

79

194

-

-

-

-

-

-

-

Gain on sales of securities available-for-sale

-

-

-

-

492

518

83

427

125

108

-

Gain on sales of held for sale assets

-

-

-

-

-

-

-

-

-

35

0

Net (gain) loss on sales of securities available-for-sale

-

-

-

-

-

-

-

-

-

-

291

Loss (gain) on sales of foreclosed real estate

0

-2

11

18

-9

-50

15

-167

154

110

114

Stock-based compensation

666

697

752

525

358

288

318

295

229

157

203

Decrease in interest receivable

-536

584

520

445

301

119

4

-73

62

163

927

(Increase) in other assets

-573

423

1,593

-1,203

160

442

-1,475

-416

-59

-755

3,915

(Decrease) increase in interest payable

6

210

176

-18

-9

86

-79

-51

-166

-65

-54

(Decrease) increase in other liabilities

969

1,329

-984

2,349

-1,232

969

-4

-365

411

770

496

Net cash provided by operating activities

-

-

-

-

-

15,345

17,648

-

-

-

-

Net cash provided by operating activities

16,636

20,950

16,689

18,479

14,002

-

-

16,483

16,321

9,131

4,625

Cash flows from investing activities
Purchases of securities, available-for-sale

124,463

22,663

13,546

47,665

57,136

37,736

-

-

-

-

-

Purchases of securities, available-for-sale

-

-

-

-

-

-

63,161

63,119

59,502

92,829

132,209

Maturities, repayments and calls of securities, available-for-sale

98,727

29,635

43,900

48,999

46,108

40,682

41,855

44,178

37,937

38,153

23,642

Sales of securities, available-for-sale

19,745

0

5,692

12,903

9,614

12,911

-

-

-

-

-

Net decrease in restricted investment in bank stock

-1,371

-389

-615

1,898

1,229

-943

1,879

-772

-432

-

-

Sales of securities, available-for-sale

-

-

-

-

-

-

20,090

17,440

15,715

4,845

8,947

Proceeds from acquisition, net

-

-

-

-

21,091

0

0

-

-

-

-

Proceeds from acquired receivables of sold investment settlements

-

-

-

-

15,256

0

0

-

-

-

-

Calls of securities, held-to-maturity

-

-

-

-

-

-

-

-

-

-

519

Sales of securities, held-to-maturity

-

-

-

-

-

-

-

-

-

-

933

(Purchase) redemption of restricted investment in bank stock

-

-

-

-

-

-

-

-

-

210

-1,585

Net decrease (increase) in loans made to customers

18,503

86,316

127,509

147,541

127,056

61,940

123,171

44,689

59,274

6,130

77,469

Purchases of premises and equipment

3,103

2,754

2,157

2,314

5,957

5,649

4,653

2,018

1,402

914

1,231

Investment in bank owned life insurance

6,836

7

4,007

6,994

7

1,186

5,307

237

677

7

6

Proceeds from sales of fixed assets

-

-

-

-

51

0

0

-

-

-

-

Proceeds from bank owned life insurance

-

-

-

196

0

82

0

206

0

0

-

Proceeds from held for sale assets

-

-

-

-

-

-

-

-

-

542

0

Investment in foreclosed real estate

-

-

-

-

-

-

-

17

4,130

1,640

118

Proceeds from sales of foreclosed real estate

315

168

454

576

289

2,970

207

10,028

914

8,094

462

Net cash used in investing activities

-

-

-

-

-

-48,923

-136,019

-

-

-

-

Net cash provided by (used in) investing activities

-32,747

-81,548

-96,558

-143,738

-98,976

-

-

-37,456

-69,987

-49,676

-178,115

Cash flows from financing activities
Net increase (decrease) in demand and savings deposits

17,149

92,018

100,994

140,938

87,651

44,599

34,734

63,343

51,186

54,026

69,205

Net increase in time deposits

78,135

18,755

19,336

29,090

-69,020

-14,929

-10,738

-16,435

-2,896

29,127

55,623

Net (decrease) in short-term borrowings

903

-13,473

-36,142

-17,873

32,326

1,821

21,007

9,099

3,494

-1,703

-9,817

Proceeds from issuance of long-term debt

0

30,000

20,000

40,000

35,000

20,000

40,000

0

15,000

0

76,000

Repayment of long-term debt

35,040

45,000

15,000

35,000

5,096

87

322

15,813

30,414

22,240

21,214

Tax benefit on vested restricted stock

-

-

-

-

13

52

89

44

0

-

-

Tax benefit on vested restricted stock

-

-

-

-

-

-

-

-

-

0

-

Cash dividends paid to preferred shareholders

-

-

-

46

120

207

250

634

774

825

701

Cash dividends paid to shareholders

6,017

5,539

4,559

4,144

2,991

2,611

2,074

1,690

1,454

1,022

1,048

Proceeds from treasury stock reissuance

334

0

0

-

-

-

-

-

-

-

-

Payment of taxes related to stock withheld

88

158

163

-

-

-

-

-

-

-

-

Treasury stock repurchased

4,993

0

0

-

-

-

-

-

-

-

-

Redemption of preferred stock

-

-

-

12,000

0

13,000

0

-

-

-

-

Redemption of preferred stock

-

-

-

-

-

-

-

0

-

-

-

Redemption of preferred stock and common stock warrant

-

-

-

-

-

-

-

-

17,027

0

-

Redemption of preferred stock and repurchase of common stock warrant

-

-

-

-

-

-

-

-

-

-

0

Issuance of preferred stock

-

-

-

-

-

-

-

-

25,000

0

16,461

Issuance of stock

550

1,272

914

853

33,614

13,982

1,239

627

477

272

285

Cash paid in lieu of fractional shares

13

19

19

12

12

10

9

6

0

0

-

Net cash provided by financing activities

-

-

-

-

-

49,610

83,676

-

-

-

-

Net cash provided by financing activities

50,920

77,856

85,361

141,806

111,365

-

-

38,535

42,592

57,635

184,794

Net increase (decrease) in cash and cash equivalents

34,809

17,258

5,492

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

-

-

-

16,547

26,391

16,032

-34,695

17,562

-11,074

17,090

11,304

Interest paid on deposits and borrowed funds

-

-

-

-

-

-

-

-

-

-

16,412

Income taxes paid

-

-

-

-

-

-

-

-

-

-

1,101