First foundation inc. (FFWM)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Cash Flows from Operating Activities:
Net income

56,239

42,958

27,582

23,303

13,378

8,394

7,851

5,801

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

2,637

4,220

2,762

4,681

2,673

235

2,395

2,065

Stock–based compensation expense

1,600

2,600

1,800

899

613

451

579

720

Depreciation and amortization

3,019

2,751

2,384

1,858

1,350

1,231

1,040

591

Deferred tax expense

-73

1,192

4,511

1,337

-1,866

576

-1,267

-2,051

Amortization of core deposit intangible

2,291

2,043

394

239

180

-

-

-

Amortization of mortgage servicing rights – net

1,295

1,076

555

184

2

-

-

-

Amortization of premiums on purchased loans – net

4,909

6,689

586

1,200

612

-2,310

-3,219

-

Gain on sale of REO

742

-

104

-

-

1,038

-

-

Gain on sale of loans

4,218

419

7,029

7,812

2,935

-

-

-

Loss on sale of securities

-316

-

-

1,307

-

-

-

-

Gain from hedging activities

655

-354

-

-

-

-

-

-

Provision for REO losses

-

-

-

-

-

-

250

-

(Increase) decrease in other assets

2,325

3,578

1,541

2,089

3,655

1,244

366

1,078

Decrease in accounts payable and other liabilities

5,929

4,436

7,106

-323

4,741

3,060

703

2,378

Net cash provided by operating activities

60,437

50,981

37,872

19,770

13,869

9,355

7,966

8,426

Net increase in loans

802,578

1,129,231

1,238,225

1,348,286

626,245

262,271

157,619

129,899

Proceeds from sale of loans

573,897

674,019

457,498

311,709

106,251

-

-

-

Proceeds from sale of REO

1,557

2,577

438

4,652

-

4,198

-

-

Purchase of premises and equipment

2,229

2,710

2,235

5,935

1,753

169

1,905

1,370

Recovery of allowance for loan losses

1,855

569

-

-

-

-

-

-

Purchases of AFS securities

577,802

365,519

29,338

145,614

446,652

83,527

62,664

19,100

Proceeds from sale of securities

283,893

9,982

62,174

104,146

-

-

-

-

Maturities of AFS securities

95,580

81,199

73,593

91,128

22,826

8,388

6,608

32,486

Purchase of REO property

-

-

-404

-

-

1,285

-

-

Cash in from merger

-

47,582

91,018

-

38,081

-

-

34,891

Sale (purchases) of FHLB stock, net

1,212

-1,982

-16,500

12,258

8,979

5,640

-1,779

3,029

Net cash used in investing activities

-427,039

-679,550

-568,981

-1,000,458

-916,471

-340,306

-213,801

-86,021

Increase in deposits

-358,176

-611,856

-605,171

-904,619

-439,381

-160,917

-152,296

-115,988

FHLB advances and other Bank borrowings – net increase

-30,000

4,570

622,000

-454,000

-533,000

-129,000

34,000

9,000

Line of credit net change – borrowings (paydowns), net

5,000

-45,000

50,000

-

-

-

-

-

Term note - borrowings

-

-

-

-

10,114

15,000

7,500

-

Term note - payments

-

-

-

-

30,000

2,177

437

-

Payoff of acquired debt

-

-

8,000

-

-

-

-

-

Dividends paid

8,927

-

-

-

-

-

-

-

Settlement of swap

19,883

-

-

-

-

-

-

-

Proceeds from sale of stock, net

334

13,698

28,386

4,267

136,163

949

6,322

5,617

Repurchase of stock

23

497

-

-

-

-

-

-

Net cash provided by financing activities

364,677

575,487

53,557

1,362,886

1,088,658

303,689

199,681

130,605

Increase (decrease) in cash and cash equivalents

-1,925

-53,082

-477,552

382,198

186,056

-27,262

-6,154

53,010

Supplemental disclosures of cash flow information:
Income taxes

23,624

16,646

14,655

17,156

10,050

5,394

3,490

2,475

Interest

75,149

46,043

21,704

10,695

6,082

4,585

3,506

3,032

Noncash transactions:
Transfer of loans to loans held for sale

554,837

1,027,478

357,462

519,721

102,026

-

-

-

Mortgage servicing rights from loan sales

1,861

2,646

3,232

2,190

-

-

-

-

Chargeoffs (recoveries) against allowance for loans losses

2,692

4,189

-238

-119

2,223

-

820

275

Transfer from loans to REO

-

-

1,520

2,350

-

1,834

-

225