FIRST BANCORP FBNC Cash Flow

First bancorp (FBNC)

CashFlow / Quarterly

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
18,180	20,883	25,019	23,859	22,285	23,895	21,991	22,730	20,673	14,177	13,086	11,154	7,555	8,355	4,678	7,639	6,837	6,797	7,005	6,244	6,988	7,095	5,579	6,646	5,676	5,678	6,333	5,588	3,100	-25,937	4,423	3,290	-5,182	984	2,557	3,726	6,375
Reconciliation of net income to net cash provided by operating activities:
Provision for loan losses
5,590	3,176	-1,105	-308	500	693	87	-710	-3,659	0	0	0	723	0	0	-281	258	-43	-1,414	841	-164	1,476	1,485	3,659	3,575	8,896	4,980	5,591	11,149	44,577	7,073	6,467	21,555	9,878	9,146	10,934	11,343
Net security premium amortization
-804	-826	-723	-645	-459	-565	-708	-791	-685	-743	-695	-1,238	-232	-923	-895	-843	-680	-867	-768	-810	-802	-518	-380	-543	-493	-578	-729	-740	-620	-520	-490	-451	-456	-2,386	265	336	412
Loan discount accretion
1,841	1,501	1,324	1,730	1,419	1,830	1,575	2,296	2,111	2,003	1,745	1,968	1,360	-	822	1,676	1,055	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other purchase accounting accretion and amortization, net
-14	-7	-2	5	13	25	40	54	71	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan discount accretion
-	-	-	-	-	-	-	-	-	-	20	74	48	14,444	-5,973	-1,929	-2,091	854	4,880	-148	-835	8,748	53	4,580	2,628	1,195	4,228	6,504	3,551	16,586	4,488	3,196	2,525	21,549	-3,356	-4,065	-2,500
(Gains) losses on securities available for sale
-	-	-	-	-	-	-	-	-	0	0	0	-235	0	0	0	3	0	-1	0	0	-	-	-	-	-	-	-	-	0	189	-3	452	148	0	-60	-14
Gain from acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,196
Foreclosed property (gains) losses and write-downs, net
-159	-40	-273	-381	-245	14	-192	-99	-288	-92	-216	-248	25	-436	-266	-133	210	36	-939	-326	-257	138	16	-1,724	-2,273	3,751	1,550	257	-3,858	-12,592	-2,661	-7,872	-5,235	-43,083	6,095	2,854	6,287
Other gains
74	162	-105	-308	82	-88	-101	908	4	-110	-238	497	234	97	0	51	-177	-224	28	-273	4	54	35	-336	19	56	-234	425	-395	-530	14	-141	194	148	-22	37	-20
Decrease (increase) in net deferred loan costs
320	903	224	-160	-325	3,760	-520	-169	-786	-1,363	-371	104	655	247	876	184	-385	-108	54	-36	163	-215	-79	108	169	96	144	155	1	154	-102	-36	-60	15	1	-116	-207
Depreciation of premises and equipment
1,563	1,510	1,440	1,418	1,468	1,657	1,561	1,414	1,445	1,470	1,315	1,408	1,300	1,197	1,161	1,124	1,120	1,119	1,120	1,123	1,132	1,141	1,152	1,168	1,157	1,164	1,172	1,166	1,121	1,130	1,149	1,145	1,133	1,086	1,120	1,090	1,092
Amortization of operating lease right-of-use assets
496	485	461	436	475	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of lease obligations
452	419	52	743	455	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
513	522	546	799	403	368	374	596	231	235	177	505	178	187	147	257	123	156	150	277	127	22	23	202	23	1	1	201	19	31	17	243	20	262	160	350	133
Amortization of intangible assets
1,055	1,121	1,163	1,242	1,332	1,399	1,452	1,506	1,560	1,524	902	1,031	576	377	387	261	186	181	181	180	180	195	194	194	194	221	220	220	199	227	224	223	223	226	226	226	224
Amortization of SBA servicing assets
918	365	354	322	299	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees/gains from sale of presold mortgages and SBA loans
2,488	2,494	3,192	3,926	2,607	2,097	2,949	3,394	4,661	3,812	3,534	2,438	1,390	1,281	1,404	410	371	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Origination of presold mortgage loans in process of settlement
48,143	64,982	55,333	34,365	19,025	21,710	27,025	103,890	-33,834	397,892	-59,567	-70,393	-39,061	133,172	-24,214	-18,058	-13,988	-20,390	-19,984	-26,093	-30,651	-25,718	-28,079	-28,586	-19,110	-24,760	-27,453	-24,989	-26,675	-26,243	-28,649	-22,436	-19,422	-23,001	-17,562	-15,450	-20,082
Proceeds from sales of presold mortgage loans in process of settlement
54,764	62,870	46,728	32,372	20,506	24,013	30,777	33,784	40,945	70,152	57,355	70,493	37,493	23,112	24,934	17,480	15,601	19,695	23,861	29,395	28,364	28,205	28,221	27,274	20,073	22,064	29,121	25,021	30,581	22,133	28,322	25,386	18,509	20,734	16,205	15,680	21,348
Proceeds from sales of SBA loans
16,031	23,178	28,036	42,635	30,678	26,967	41,649	37,815	50,996	32,775	21,999	14,299	7,961	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Origination of SBA loans for sale
36,081	24,695	34,659	52,994	38,329	34,002	52,666	173,156	-63,040	150,150	-27,282	-17,653	-9,779	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in accrued interest receivable
-	-	-	-	-	-	1,052	660	-824	-	615	306	-279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease (increase) in accrued interest receivable
-881	-	-	-	512	-	-	-	-	-	-	-	-3,741	501	-367	166	-180	158	-126	390	-176	35	90	-195	-659	-14	-117	43	-464	-519	-212	-37	-810	-3,811	432	958	621
Increase in other assets
1,738	1,674	4,141	-4,573	4,493	-4,418	-14,095	17,130	-2,142	-19,836	15,922	-2,922	112	-806	12,646	289	-11,405	4,072	-1,203	-923	3,116	5,138	-927	-4,640	-1,735	-20,404	6,294	-11,322	3,233	7,862	-1,776	-2,658	15,846	42,938	-5,976	-2,585	-4,281
(Decrease) increase in accrued interest payable
-54	-15	-89	-83	365	60	265	345	71	-	-	-	-	16	-21	32	-31	-3	-37	6	-67	-9	-83	20	-121	-41	-151	-47	-208	-122	-132	-110	-213	-66	-270	-120	246
Increase in other liabilities
3,255	-493	3,072	-6,636	5,254	-181	1,056	-1,225	-6,279	1,648	-491	-3,629	-8,257	2,683	836	2,111	-2,762	445	928	326	-1,921	3,104	793	-1,265	43	2,012	53	2,896	-816	1,285	-4,640	5,495	-5,080	5,757	-849	42	-5,280
Net cash provided by operating activities
13,672	17,816	8,766	7,647	17,009	22,723	28,685	-10,413	5,415	36,697	-13,435	2,914	662	9,605	751	11,062	19,853	5,761	14,135	14,353	3,101	10,892	11,244	11,492	14,192	31,353	2,875	20,628	17,024	6,948	8,133	27,633	-1,033	9,536	8,172	13,837	5,501
Cash Flows From Investing Activities
Purchases of securities available for sale
9,423	159,861	82,421	94,717	161,892	181,819	30,125	5,668	13,182	156,226	5,225	496	29,313	14,500	0	0	99,896	12,509	0	52,778	30,535	12,005	38,852	1,932	13,474	10,234	10,665	31,750	13,084	27,789	16,874	38,395	9,000	32,543	19,425	1,904	21,817
Purchases of securities held to maturity
3,624	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-1,146	0	857	1,146	125,377	0	0	0	-	-	-	-	-	-	-	-	516	0	584	3,232
Proceeds from maturities/issuer calls of securities available for sale
45,037	-	-	-	29,313	-	-	-	-	-	-	-	-	-	-	-	18,852	24,812	35,911	9,266	16,249	7,876	3,305	12,957	6,194	8,164	8,570	12,788	9,359	19,879	27,571	25,465	23,125	9,334	31,452	23,360	11,469
Proceeds from maturities/issuer calls of securities held to maturity
10,075	6,145	-56,636	72,854	10,098	3,342	-4,994	10,071	7,764	-6,812	13,659	8,865	6,632	-44,838	20,360	42,074	5,772	3,957	4,788	5,999	8,459	453	0	0	0	0	250	1,237	350	0	5	825	860	0	0	367	686
Redemptions (purchases) of FRB and FHLB stock, net
4,572	0	-119	3,899	308	0	30	0	6,099	-425	3,845	2,761	3,766	-	1,275	850	138	-	15	9,727	-145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities/issuer calls of securities held to maturity
-	-	-	-	-	-	-	-	6,159	-	4,338	6,326	7,357	-17,644	5,856	11,788	8	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	9,641	0	0	0	2,518
Proceeds from sales of securities available for sale
-	-	-	-	-	-	-	-	-	-	0	-1,017	46,618	-	0	8	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in loans
95,680	48,539	49,525	22,121	45,018	49,881	29,620	23,809	49,662	-2,317	44,751	81,149	81,048	54,349	55,321	59,553	23,170	39,999	70,798	23,680	3,869	-24,689	-5,643	-8,179	-13,646	30,112	20,395	37,224	13,713	25,850	20,875	19,165	23,828	18,564	15,429	-10,537	-35,368
Payments related to FDIC loss share agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	3,108	-816	-382	-356	-15,431	1,846	4,630	2,282	-914	-1,554	-5,872	-9,384	-12,933	-24,621	-5,119	-6,899	-4,680	-9,830	-2,039	-13,247	-9,928	-26,943	-1,254	-31,214
Proceeds from sales of foreclosed properties
889	1,249	1,366	1,749	1,513	703	2,210	3,164	1,455	2,179	1,858	2,792	1,818	1,284	3,295	1,517	1,858	3,224	2,491	1,532	2,403	5,354	6,512	13,657	7,739	17,672	9,800	7,423	25,669	28,354	20,851	15,114	10,653	18,764	8,225	9,653	6,772
Purchases of premises and equipment
1,321	820	746	518	1,450	4,067	4,697	735	1,224	1,619	905	1,262	873	1,813	3,181	2,770	925	1,653	872	1,356	1,600	1,473	436	2,059	783	1,005	1,196	940	3,152	1,457	1,551	2,444	3,501	1,199	2,084	2,109	1,214
Proceeds from sales of premises and equipment
189	651	908	-39	279	14	160	2,039	540	37	114	0	0	2,004	0	0	21	774	0	847	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from branch sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	30,393	0	0	0	0	-	-	-	-
Net cash received in acquisition
-	-	-	-	-	-	-	-	-	121,155	7,549	0	-56,185	0	51,121	939	1,580	0	0	0	0	-	-	-	-	0	0	0	38,315	0	9,312	0	0	0	0	0	54,037
Net cash used by investing activities
-58,430	-156,258	-55,098	-45,865	-167,465	-198,446	-49,166	-11,418	-54,249	-20,843	-42,306	-68,993	3,610	-54,595	-58,004	-27,959	-99,554	-37,613	-26,649	-66,124	-7,612	-109,492	-4,652	65,635	22,706	-1,569	23,920	-58,347	81,036	-2,183	28,269	-41,561	21,197	-14,796	29,682	40,574	115,801
Cash Flows From Financing Activities
Net increase in deposits
113,664	56,011	32,372	45,866	137,957	131,037	-25,163	58,013	88,869	76,716	6,996	15,237	96,519	36,513	61,741	45,199	15,536	103,532	54,626	-40,487	-2,292	16,894	-75,567	-32,141	35,708	10,163	-77,485	-39,206	-21,118	-	-	-	-	-	-	-	-
Net increase (decrease) in short-term borrowings
-48,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term borrowings
150,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in borrowings
-	-	-	-	-	-	-528	-29	-529	-	42,007	64,973	0	-	-	-	-	-	-	-	-	0	0	-20,000	90,000	0	0	0	0	-	-	-	-	-	-	-	-
Net increase (decrease) in deposits and repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13,232	7,261	58,950	-17,702	-26,028	-101,236	17,713
Payments on long-term borrowings
531	-	-	-	529	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from (repayments of) borrowings, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,000	30,000	-92,081
Cash dividends paid – common stock
5,328	3,554	3,566	3,570	2,972	2,973	2,970	2,966	2,372	1,979	1,975	1,973	1,669	1,639	1,600	1,582	1,578	1,577	1,578	1,577	1,577	1,577	1,576	1,576	1,574	1,575	1,575	1,574	1,573	1,361	1,357	1,355	1,353	1,351	1,349	1,346	1,344
Proceeds from issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,392	0	126	209	213	217	210	241
Repurchases of common stock
20,000	0	3,476	6,524	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2	228	0	0	0
Payment of taxes related to stock withheld
0	-	-	-	91	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid - preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	58	58	59	58	150	137	292	217	217	217	217	217	217	216	245	532	688	795	760	794	265	957	812	813
Proceeds from Stock Options Exercised
-	-	-	-	-	0	0	216	108	0	0	242	45	0	0	248	127	80	0	32	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
189,805	52,283	24,333	-69,129	134,365	127,892	-28,925	55,234	86,076	64,789	47,028	78,479	94,895	69,650	90,083	63,806	14,027	80,331	52,911	-14,324	-4,086	15,170	-77,360	-53,934	123,917	8,371	-79,276	-41,025	-23,223	-46,461	-15,384	-17,228	57,010	-22,057	-32,617	-73,184	-76,284
Increase (decrease) in cash and cash equivalents
145,047	-86,159	-21,999	-107,347	-16,091	-47,831	-49,406	33,403	37,242	80,643	-8,713	12,400	99,167	24,660	32,830	46,909	-65,674	48,479	40,397	-66,095	-8,597	-83,430	-70,768	23,193	160,815	38,155	-52,481	-78,744	74,837	-41,696	21,018	-31,156	77,174	-27,317	5,237	-18,773	45,018
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for interest
7,328	8,328	8,692	8,696	8,009	7,286	6,109	5,158	4,483	4,124	3,243	2,852	2,020	1,981	1,964	1,809	1,899	1,757	1,781	1,649	1,822	1,913	2,114	2,127	2,262	2,355	2,752	2,976	3,322	3,882	4,344	4,613	5,054	5,328	6,009	6,169	6,269
Cash paid during the period for income taxes
20	4,230	6,910	13,093	103	3,829	7,143	10,371	-181	4,262	6,705	10,065	-1,495	1,280	11,444	3,372	-4,305	2,676	2,046	2,881	6,212	2,087	2,588	421	0	975	107	0	0	2,267	6,750	0	5,275	950	2,233	3,510	8,200
Non-cash: Unrealized gain (loss) on securities available for sale, net of taxes
15,993	1,861	1,627	8,987	4,523	39	-711	-1,541	-5,587	-1,670	117	1,252	854	-3,144	146	1,264	496	-194	358	-604	152	678	-29	-23	185	-2	-1,916	-1,134	-188	-917	271	116	161	-95	158	694	107
Non-cash: Foreclosed loans transferred to other real estate
662	573	1,121	847	708	1,989	246	1,265	648	1,555	482	1,447	1,968	1,149	3,058	1,920	1,990	2,309	2,404	2,724	1,572	2,634	2,158	3,417	4,508	6,378	5,111	7,194	3,354	16,998	11,199	15,358	9,966	16,212	17,046	23,543	19,441
Non-cash: Initial recognition of operating lease right-of-use assets
0	-53	0	53	19,406	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash: Initial recognition of operating lease liabilities
0	-53	0	53	19,406	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-