Meridian bancorp, inc. (EBSB)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash flows from operating activities:
Net income

66,996

55,771

42,945

34,190

24,607

22,327

15,429

12,426

Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of acquisition fair value adjustments

-66

-67

168

145

133

53

260

-

Amortization of core deposit intangible

530

590

-

-

-

-

-

-

ESOP shares expense

2,151

2,251

2,232

1,842

1,595

1,335

814

606

Provision (reversal) for loan losses

-2,561

7,848

4,859

-

-

-

-

-

Accretion of acquisition fair value adjustments

-

-

-

-

-

-

-

-440

Provision for loan losses

-

-

-

7,180

6,667

3,313

6,470

8,581

Accretion of net deferred loan origination fees

2,403

1,560

1,738

1,273

1,011

608

172

9

Net amortization of securities available for sale

-46

-51

-8

47

64

34

15

-288

Capitalization of mortgage servicing rights

-

-

-

-

-

-

99

-708

Amortization of mortgage servicing rights

-

-

-

-

-

-

303

313

Change in valuation allowance on mortgage servicing rights

-

-

-

-

-

-

62

-70

Depreciation and amortization expense

3,200

2,900

3,100

3,004

2,524

2,385

2,291

2,125

Gain on sales of securities available for sale, net

-

-

9,305

3,020

2,432

6,258

9,636

5,568

Loss (gain) on marketable equity securities, net

2,016

-2,066

-

-

-

-

-

-

Net loss and provision for foreclosed real estate

-

-

-

-8

-214

-303

-345

-385

Deferred income tax benefit

1,371

-2,623

6,823

-2,816

-2,361

-1,256

-3,224

-2,781

Income from bank-owned life insurance

1,127

1,109

1,158

1,188

1,225

1,165

1,195

1,201

Gain on life insurance distribution

52

110

1,657

-

-

-

-

-

Share-based compensation expense

4,571

4,545

3,804

3,335

1,088

792

1,170

1,170

Equity income on investment in affiliate bank

-

-

-

-

-

-

-

310

Gain on sale of investment in affiliate bank

-

-

-

-

-

-

-

4,819

Excess tax benefits in connection with share-based compensation

-

-

-

614

420

267

323

-

Net changes in:
Loans held for sale

2,046

-3,363

-2,288

-725

3,698

-1,392

-12,139

10,310

Accrued interest receivable

214

1,365

2,245

1,807

826

621

382

-537

Prepaid deposit insurance

-

-

-

-

-

-

-

-1,257

Other assets

10,229

1,987

-471

-179

-3,172

446

-15

-1,925

Accrued expenses and other liabilities

7,906

353

198

4,458

80

1,162

4,310

-287

Net cash provided by operating activities

66,186

71,037

50,426

44,011

27,777

22,301

27,918

3,250

Cash paid for business combination, net of acquired cash

-

-

2,005

-

-

-

-

-

Purchases of certificates of deposit

-

5,000

22,650

80,423

26,562

85,000

-

-

Maturities of certificates of deposit

5,000

69,079

35,130

99,162

12,500

-

-

2,500

Activity in securities, at fair value:
Proceeds from maturities, calls and principal payments

2,536

2,950

16,759

56,353

44,470

45,874

36,877

164,894

Purchase of mutual funds, net

-

-

8

-

-

-

-

-

Redemption (purchase) of mutual funds, net

-

-

-

-1,191

-19,867

18,995

-11,768

4,784

Proceeds from sales

223

3,900

40,900

38,429

27,120

33,335

60,780

38,743

Purchases

-

1,595

8,395

12,035

35,507

60,264

39,714

108,570

Proceeds from sale of investment in affiliate bank

-

-

-

-

-

-

-

6,600

Loan principal payments (originations), net

99,258

977,019

655,291

860,088

401,953

387,952

485,842

455,030

Proceeds from bank-owned life insurance distribution

365

821

3,224

-

279

-

-

-

Purchases of premises and equipment

6,174

6,976

1,213

4,100

4,177

1,388

2,915

3,770

Purchase of Federal Home Loan Bank stock

-240

4,240

6,049

7,244

-1,794

818

-157

-474

Capitalized costs on foreclosed real estate

-

-

-

-

-

-

-

8

Cash received in MHC merger

-

-

-

-

-

2,640

-

-

Proceeds from sales of foreclosed real estate

-

-

1,690

808

832

1,758

1,222

1,957

Net cash provided (used) in investing activities

-97,068

-918,113

-597,944

-767,947

-361,337

-470,810

-417,667

-356,994

Cash flows from financing activities:
Net change in deposits

37,368

776,284

538,198

732,838

239,102

255,357

383,196

260,981

Net change in borrowings with maturities less than three months

-50,000

50,000

-

-20,000

20,000

-

-

-16,527

Proceeds from Federal Home Loan Bank advances with maturities of three months or more

160,000

325,000

320,625

220,000

18,000

57,131

47,500

90,000

Repayment of Federal Home Loan Bank advances with maturities of three months or more

60,635

301,549

137,886

44,714

42,673

47,135

46,528

43,070

Cash dividends paid on common stock

14,253

10,298

7,656

6,148

1,462

-

-

-

Income taxes paid in connection with shares withheld on vested restricted stock

-

17

-

-

-

-

-

-

Stock options exercised, net of cash paid in connection with income taxes

59

-2,641

501

205

-

-

-

-

Stock options exercised

-

-

-

-

232

69

35

27

Repurchase of common stock

7,270

20,395

-

18,799

9,428

-

1,698

1,160

Excess tax benefits in connection with share-based compensation

-

-

-

614

420

267

323

-

Net proceeds from sale of common stock

-

-

-

-

-

302,281

-

-

Net cash (used) provided by financing activities

65,269

816,384

713,782

863,996

224,191

567,970

382,828

290,251

Net change in cash and cash equivalents

34,387

-30,692

166,264

140,060

-109,369

119,461

-6,921

-63,493

Supplemental cash flow information:
Interest paid on deposits

77,026

53,510

33,665

23,762

18,477

17,974

17,008

15,846

Interest paid on borrowings

13,584

8,325

4,683

2,900

1,994

2,489

3,510

3,857

Income taxes paid, net of refunds

21,037

21,737

27,165

19,151

13,905

12,461

9,569

8,011

Non-cash investing and financing activities:
Transfers from loans to foreclosed real estate

-

-

1,690

816

-

1,717

353

1,085

Net amounts due from broker on security transactions

-

-

970

-462

-

2,120

-104

-

In conjunction with the purchase acquisition of Meetinghouse Bancorp, Inc. assets were acquired and liabilities were assumed as follows:
Fair value of assets acquired, net of cash acquired

-

-

104,616

-

-

-

-

-

Fair value of liabilities assumed

-

-

102,611

-

-

-

-

-

Receipt of common stock from sale of investment in affiliate bank

-

-

-

-

-

-

-

11,136