1ST CONSTITUTION BANCORP FCCY Cash Flow

1st constitution bancorp (FCCY)

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
Net Income (Loss) Attributable to Parent
3,421	3,244	3,623	3,370	3,397	3,313	4,011	1,871	2,853	575	2,485	1,919	1,949	2,055	2,694	2,314	2,222	1,627	2,462	2,315	2,260	2,016	2,138	-440	642	1,374	1,523	1,557	1,325	1,240	1,354	1,298	1,166	1,099	1,213	828	789
OPERATING ACTIVITIES:
Adjustments to reconcile net income to net cash provided by operating activities-
Provision for loan losses
895	300	350	400	300	225	225	225	225	150	150	150	150	0	0	-100	-200	500	100	0	500	500	650	4,100	500	-	-	-	-	499	499	549	599	1,274	608	275	399
Provision for loss on other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	96	0	0	662	1,149	693	290	211	0	0	0	147
Depreciation and amortization
542	424	339	341	340	333	373	351	332	343	343	344	350	445	324	294	352	325	374	370	407	395	458	393	488	265	266	268	270	288	305	311	267	277	272	292	218
Net amortization of premiums and discounts on securities
-306	-250	-177	-138	-110	-121	-152	-131	-152	-201	-196	-228	-254	-277	-317	-325	-222	-188	-162	-204	-256	-275	-305	-306	-241	-212	-254	-299	-314	-358	-358	-384	-366	-410	-391	-367	-447
SBA discount accretion
106	-	-	-	92	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales and calls of securities available for sale
1	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales and calls of securities held to maturity
7	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
SBA loan discount accretion
-	-	-	-	-	-	-	78	73	247	-111	59	52	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales and calls of securities available for sale
-	-	-	-	-	-	0	6	6	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales and calls of securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	106	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on sales of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	630	0	-16	308	-	-	0	0	-	-	-	-
Gains on sales of loans held for sale
1,470	1,329	1,351	1,160	1,045	1,050	1,292	984	1,149	1,213	1,329	1,018	1,589	1,260	875	747	903	761	783	1,203	1,292	1,541	555	267	740	211	641	479	731	389	509	495	468	419	508	411	436
Originations of loans held for sale
42,459	46,144	43,996	34,201	22,467	25,824	31,260	28,554	25,471	27,077	31,363	25,458	26,933	41,878	19,363	16,903	18,824	21,093	34,441	44,277	34,262	30,707	44,284	24,570	15,191	24,853	30,777	39,336	44,012	49,742	49,223	37,690	41,388	56,455	35,620	22,173	25,228
Proceeds from sales of loans held for sale
38,101	48,284	42,472	32,667	25,363	28,216	37,481	22,166	28,955	30,055	30,267	26,242	39,991	39,780	13,431	14,115	24,382	22,505	40,301	42,709	34,971	33,335	45,259	18,212	23,601	28,108	45,687	42,297	49,987	36,654	43,845	39,087	43,593	47,488	33,252	20,557	41,940
Increase in cash surrender value on bank–owned life insurance
180	-	-	-	139	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in cash surrender value on bank-owned life insurance
-	-	-	-	-	-	-	159	128	131	131	130	130	135	113	157	144	138	144	142	134	142	144	149	129	108	115	119	112	110	112	113	111	104	100	103	95
Loss on cash surrender value on bank-owned life insurance
-	-	-	-	-	0	0	0	14	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense
290	271	268	296	269	260	253	269	237	254	255	285	199	224	168	192	170	148	157	185	141	141	71	336	37	120	112	97	170	137	112	112	111	136	102	97	90
Increase in deferred tax asset
41	542	-113	-1,033	0	-305	0	-36	36	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash rent and equipment expense
47	40	40	59	53	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in accrued interest receivable
-102	515	-443	316	-81	208	-133	324	-276	337	81	271	-306	240	-196	325	-127	209	-332	164	-284	894	-364	219	-196	398	-410	140	-458	193	-89	244	-473	532	-220	231	44
Increase in other assets
626	-3,953	2,227	911	304	1,090	-4	-488	991	67	-785	391	508	441	-654	417	-592	-244	963	-4,380	3,044	-928	1,504	-965	-231	-241	344	-738	-531	-105	333	-112	-98	-1,198	-70	828	745
(Decrease) increase in accrued interest payable
-162	-10	-95	108	361	301	78	74	-29	89	-97	-20	-34	72	-52	-37	37	93	-102	-57	5	252	-102	-33	-93	94	-155	-67	-47	134	-87	-63	-111	85	-186	-24	-215
Decrease in accrued expenses and other liabilities
-131	-1,766	1,072	-681	-1,084	517	-6,599	7,251	1,164	558	-18	597	-1,403	-1,426	1,495	-465	-156	-704	504	-527	364	1,751	1,026	-1,181	-234	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in accrued expenses and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-255	1,062	-931	740	155	590	16	-538	-375
Net cash (used in) provided by operating activities
-1,479	6,396	962	761	5,143	5,107	3,323	2,573	6,325	5,493	1,549	2,406	12,444	-2,326	-1,124	-1,942	7,877	3,520	7,959	4,175	456	6,142	3,794	-2,565	9,549	5,342	16,970	5,930	8,253	-10,895	-3,937	4,279	4,964	-5,119	-269	-1,892	16,891
INVESTING ACTIVITIES:
Purchases of securities :
Purchases of securities:
Available for sale
18,416	5,500	3,133	4,389	20,950	5,087	6,063	12,002	12,057	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Available for sale
-	-	-	-	-	-	-	-	-	-	-	-	9,186	-	2,019	14,289	11,849	27,038	0	697	6,374	-	-	-	-	-0	999	3,186	12,761	25,442	3,519	10,145	18,134	0	0	7,085	62,763
Held to maturity
16,729	7,087	3,159	3,203	2,739	4,855	0	1,668	1,200	18,132	0	2,485	13,975	18,621	2,594	3,439	10,558	8,021	0	25	7,553	4,195	0	10,050	4,179	-	-	-	-	0	6,602	0	0	0	14,239	17,641	65,546
Proceeds from maturities and payments of securities:
Proceeds from maturities and prepayments of securities:
Available for sale
10,051	11,098	14,328	6,380	7,280	4,382	4,333	5,365	3,584	9,878	4,661	5,364	5,867	6,320	9,443	3,771	3,820	4,723	2,967	7,957	3,136	2,102	7,188	1,655	12,661	1,922	5,165	9,839	5,417	5,625	4,520	3,715	20,607	1,847	15,954	9,393	35,216
Held to maturity
4,889	5,299	6,002	3,154	4,436	16,608	3,890	9,049	8,645	19,351	12,893	3,437	14,208	12,997	3,851	3,830	10,751	5,844	5,450	15,170	9,241	8,666	7,038	7,366	4,168	6,468	11,193	6,054	10,241	7,094	5,936	7,372	11,520	9,665	3,356	16,700	5,899
Net (purchase) sale of restricted stock
-1,038	-	-	-	2,238	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of securities:
Available for sale
-	-	-	-	-	-	-	-	-	-	-	-	1,449	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Held to maturity
-	-	-	-	-	-	-	-	-	1	427	24	582	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from bank-owned life insurance benefits paid
-	-	-	-	-	0	0	0	893	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net redemption (purchase) of restricted stock
-	-	-	-	-	-	-	-	-	-	-	-	2,837	-	-	-	1,735	-	-	-	-697	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net purchase of restricted stock
-	-	-	-	-	-	-844	4,405	195	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (increase) decrease in loans
1,838	-	57,124	93,853	-8,924	-	-16,631	49,376	-13,377	-	9,529	86,332	-48,090	-24,689	-12,136	102,866	-23,415	-25,870	-47,749	48,251	55,958	38,579	-14,103	107,831	15,056	11,147	-44,944	-7,253	-103,647	24,608	17,599	41,917	-36,657	52,527	92,102	17,291	-86,597
Capital expenditures
37	-	282	175	200	-	56	408	71	-	136	262	177	138	138	71	110	-17	67	323	333	231	150	91	21	68	33	45	68	280	180	86	549	59	134	91	255
Capital improvement to other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3	62	0	81	173	-46	467	139
Cost of improvements to other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	24	36	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash received from the Shore Merger
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,375	-	-	-	-	-	-	-	-	0	0	0	101,539
Proceeds from sales of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	855	4,530	969	1,683	-	-	-	-	-	-	-	-
Proceeds from sales of other real estate owned
101	-	0	1,192	0	-	-	-	-	-	-	-	-	-	-	-	-	-	1,367	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	439	997	307	1,033	595
Net cash used in investing activities
-23,017	29,624	-43,906	-94,656	-1,011	11,787	19,654	-54,341	12,976	-11,274	5,262	-95,204	49,695	17,182	21,609	-116,512	17,168	6,336	60,410	-30,213	-58,538	-10,025	28,179	-102,763	18,948	-11,492	13,067	10,046	108,160	-31,806	-16,676	-40,646	50,458	-41,948	-86,811	-15,449	101,143
FINANCING ACTIVITIES:
Exercise of stock options
0	-	60	66	23	-	0	47	20	-	37	77	36	-	2	17	0	109	159	5	19	-443	742	-224	224	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of vested shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-187	-27	-280	-35	-140	-	-	-	-
Exercise of stock options and issuance of vested shares under employee benefit programs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-177	-28	-57
Exercise of stock options and issuance of vested shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-177	-28	-57
Purchase of treasury shares
135	-	-	-	0	-	-	-	-	-	-	-	-	0	0	0	24	86	240	10	23	6	98	0	40	-5	58	10	47	42	22	58	0	10	7	0	15
Cash dividends paid to shareholders
917	651	649	647	646	630	504	501	485	887	0	402	401	399	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in deposits
20,670	4,467	1,225	26,629	44,533	8,995	-15,110	-21,522	-30,920	52,193	5,398	-4,405	34,304	7,454	35,576	-12,333	17,062	-7,085	-4,247	-12,370	-7,302	-5,803	3,697	-19,128	10,959	-48,391	-16,655	-7,329	3,240	46,691	-8,073	10,507	34,701	-21,542	2,296	-6,687	-5,829
Increase (decrease) in short-term borrowings
2,075	-	32,950	82,800	-49,725	-	-18,750	88,400	9,325	-	-800	63,825	-63,050	-	-52,766	129,610	-38,641	-	-65,540	43,009	62,611	-	-	-	-	0	0	0	-32,400	-8,750	25,850	15,300	-78,300	69,300	9,000	0	-15,900
Net cash provided by (used in) financing activities
21,693	-41,934	33,586	108,848	-5,815	-19,314	-34,364	66,424	-22,060	8,878	-5,365	59,095	-29,111	-16,917	-17,188	117,294	-21,603	-13,353	-69,868	30,634	55,305	-1,944	-34,749	19,558	11,143	-48,386	-16,330	-7,308	-29,019	42,746	18,034	25,784	-43,457	47,819	11,467	-6,658	-21,687
Decrease in cash and cash equivalents
-2,803	-5,914	-9,358	14,953	-1,683	-2,420	-11,387	14,656	-2,759	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental Disclosures of Cash Flow Information
Net increase (decrease) in cash
-	-	-	-	-	-	-	-	-	-	1,446	-33,703	33,028	-2,061	3,297	-1,160	3,442	-3,497	-1,499	4,596	-2,777	-5,827	-2,776	-85,770	39,640	-54,537	13,706	8,668	87,394	44	-2,579	-10,581	11,965	751	-75,613	-24,001	96,348
Cash paid during the period for :
Cash paid during the period for -
Interest
3,614	3,596	3,452	3,012	2,327	2,114	2,310	1,788	1,405	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest
-	-	-	-	-	-	-	-	-	-	-	1,360	1,323	-	1,408	1,294	1,148	1,077	1,271	1,210	1,139	1,083	1,140	1,191	1,220	916	1,189	1,128	1,194	1,091	1,329	1,343	1,515	1,431	1,816	1,895	1,984
Income taxes
101	1,580	804	1,532	2,192	0	0	3,164	62	648	995	50	1,527	934	1,495	1,401	760	514	1,381	1,860	415	128	60	404	192	30	568	403	750	-	-	-	-	350	567	857	0
Noncash items:
Transfer of loans to other real estate owned
-	-	-	-	-	-	-	-	-	0	0	190	265	-1	0	0	142	1,391	966	0	0	-	-	-	-	278	0	310	2,001	-	-	-	-	-	-	-	-
Acquisition of Shore Community Bank in 2019 and New Jersey Community Bank in 2018
Noncash assets acquired:
Value of assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	0	-7	191,138	-	-	-	-	-	-	-	-	-	-	-	-
Value of liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	0	-7	201,352	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued for acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,161	-	-	-	-	-	-	-	-	-	-	-	-
Real estate acquired in full satisfaction of loans in foreclosure
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,564	997	2,110