FIRST INTERSTATE BANCSYSTEM, INC. FIBK Cash Flow

First interstate bancsystem, inc. (FIBK)

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
29,300	52,400	49,100	37,900	41,600	40,400	41,400	41,700	36,700	34,200	27,300	21,800	23,200	24,829	25,193	25,554	20,124	23,431	20,162	22,222	20,980	22,776	19,155	21,077	21,393	20,775	23,812	21,505	20,044	16,845	16,155	13,010	12,214	13,265	11,921	9,854	9,506
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses
29,000	3,800	2,600	3,800	3,700	1,600	2,000	2,900	2,100	3,500	3,400	2,400	1,700	1,087	2,363	2,550	4,000	3,289	1,098	1,340	1,095	118	261	-2,001	-5,000	-4,000	-3,000	375	500	8,000	9,500	12,000	11,250	13,751	14,000	15,400	15,000
Net gain on disposal of premises and equipment
100	-	-	-	0	-	-	-	-	-	-	0	-100	-108	-304	-46	-142	-91	-34	652	204	1,188	-11	66	13	-7	208	-4	20	-66	-11	543	-42	0	-25	0	-3
Depreciation and amortization
9,700	9,700	9,700	11,800	7,500	7,700	6,800	6,500	6,600	500	8,200	5,100	4,600	5,018	4,991	4,812	4,679	4,611	4,612	4,546	4,544	4,687	4,382	3,890	3,896	3,952	3,995	4,095	4,203	4,342	4,202	4,266	4,302	4,371	4,320	4,241	4,436
Net premium amortization on investment securities
-2,400	-2,500	-2,200	-2,200	-2,000	-2,100	-2,400	-2,700	-2,800	-3,000	-2,900	-2,900	-2,800	-3,077	-3,076	-3,109	-3,238	-3,353	-4,506	-3,337	-3,684	-3,906	-3,696	-3,717	-3,371	-3,229	-3,524	-3,820	-4,082	-3,787	-2,725	-2,510	-2,678	-2,980	-2,441	-2,334	-2,598
Gain (Loss) on Sale of Debt Investments
-	-	-	-	-	-	-	-	-	-	-	-	0	-12	225	108	-21	62	23	46	6	-19	-8	17	71	-25	30	-12	8	53	66	198	31	1,488	38	16	2
Realized and unrealized net gains on mortgage banking activities
9,100	9,400	9,200	7,200	4,700	18,800	1,200	1,400	1,600	9,900	5,400	5,000	4,900	11,674	4,582	5,956	4,588	5,351	5,638	6,438	4,321	4,528	5,346	4,278	3,323	4,106	5,392	7,086	7,898	8,958	8,225	6,496	5,927	5,713	3,746	2,724	2,260
Mortgage servicing rights impairment
2,900	-	-	-	0	-	-	-	-	0	0	0	-100	21	-16	-20	15	50	-76	-56	-15	-19	-61	-11	-45	22	-62	-11	-48	-10	55	52	-868	427	1,168	27	-347
Net gain on sale of investments in unrelated entities
-1,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss (gain) on sale of OREO
600	1,900	1,200	100	400	400	0	400	0	-500	200	400	-200	207	57	534	102	129	1,126	986	750	1,298	-215	331	435	37	524	1,851	820	273	774	68	-74	19	113	264	156
Gain Loss on Sale of Mortgage Servicing
-	-	-	-	-	-	-	-	-	-	-	-	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	19	-	-	-	-
Write-downs of OREO and other assets pending disposal
0	200	300	100	300	0	100	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sale of mortgage servicing rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred taxes
-4,400	4,900	-2,200	0	2,700	2,600	3,900	-800	10,100	1,100	35,600	-17,800	2,000	3,744	-665	838	-517	-526	3,867	4,194	4,914	-3,192	4,777	1,130	2,630	4,974	2,846	1,603	1,853	749	2,983	5,312	-282	2,005	938	321	-859
Net increase in cash surrender value of company-owned life insurance
1,500	2,500	2,800	700	700	1,400	1,500	800	1,300	1,600	1,200	1,500	1,100	1,069	1,160	1,128	1,143	1,263	865	384	920	1,060	816	872	852	474	-901	444	429	358	522	507	462	518	282	535	489
Stock-based compensation expense
1,400	1,400	2,000	2,700	1,900	1,300	1,400	1,800	1,100	500	1,000	1,500	900	1,050	965	1,430	955	728	912	1,487	832	728	752	1,442	712	729	185	1,327	695	134	627	1,081	643	463	532	705	411
Tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	748	733	199	420	464	175	324	480	652	316	236	989	320	1,054	322	202	64	170	12	114	0	-20	-33	257
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	474	631	188	307	300	354	238	292	702	292	229	982	543	1,020	303	165	86	79	14	94	-5	-28	-35	192
Originations of mortgage loans held for sale
211,300	245,500	295,700	344,600	129,800	29,800	355,800	178,400	204,100	95,800	290,900	235,200	193,100	243,055	330,885	273,116	195,444	291,714	294,605	322,252	239,527	221,362	269,961	260,139	151,911	169,503	653,128	362,973	371,684	1,195,689	-10,210	11,993	272	898,572	20,910	5,414	-27,123
Proceeds from sales of mortgage loans held for sale
224,900	260,300	257,700	320,500	132,700	51,300	368,000	160,300	218,800	129,000	252,900	243,200	235,000	258,973	338,395	257,816	199,316	298,971	318,962	318,612	228,259	247,289	273,236	245,684	157,141	184,231	679,891	350,211	389,437	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of effects of acquisition:
Decrease (increase) in interest receivable
-400	-4,300	900	1,500	1,600	-3,100	5,100	400	900	-2,600	-2,800	8,100	-2,100	-1,103	2,484	541	-822	-3,861	2,017	1,766	179	-3,219	2,702	-638	685	-3,934	1,112	-103	506	-4,547	2,480	529	-1,567	-3,020	1,406	1,208	-1,248
Increase in other assets
34,900	-8,900	15,100	12,200	3,700	7,300	-5,100	9,700	-3,900	1,300	31,000	-24,500	-1,700	-444	-11,907	9,984	4,567	-1,144	3,732	-2,596	3,630	5,371	-344	846	1,083	5,994	-2,430	-7,068	64	2,883	-5,627	-847	-907	-1,666	508	-4,053	-7,828
(Decrease) increase in accrued interest payable
-1,800	100	-100	-15,700	2,200	1,300	200	600	100	0	-3,300	4,100	-600	-246	-41	463	224	-367	-172	253	-720	264	-331	363	-10	-404	-869	-197	-69	-204	-1,509	-40	132	-663	-2,926	-450	-1,016
Increase (decrease) in accounts payable and accrued expenses
6,000	-17,500	12,300	3,500	-6,100	-5,500	6,500	9,700	-10,900	-6,800	4,500	-18,700	-1,500	-4,722	-4,979	10,829	-7,128	5,652	-5,315	3,414	-15,682	12,670	6,109	-1,094	-3,694	2,020	1,490	-2,251	-1,861	7,713	6,859	-10,403	1,744	4,983	1,871	-4,977	1,702
Net cash provided by operating activities
41,300	70,600	8,600	500	47,600	47,100	74,200	34,300	63,400	59,900	6,200	15,500	73,000	38,946	42,202	16,675	20,177	45,961	41,284	29,507	-1,352	57,847	33,830	8,303	22,028	39,489	54,783	16,204	39,749	50,885	47,709	8,938	28,290	43,694	9,752	23,312	66,343
Cash flows from investing activities:
Purchases of investment securities:
Held-to-maturity
-	-	-	-	-	-	-	-	-	0	9,900	2,000	900	30	8,287	5,013	4,870	16,434	1,105	15,907	11,733	11,196	6,290	4,141	0	2,455	160	7,408	6,347	24,022	25,179	11,512	7,592	7,220	4,192	5,566	1,868
Available-for-sale
419,000	529,700	445,700	133,300	161,300	220,400	90,400	17,300	212,900	227,800	184,700	88,400	113,400	279,326	167,005	205,471	254,098	221,797	29,566	69,530	153,953	341,983	147,015	80,746	95,077	177,131	134,053	203,355	227,040	458,371	348,083	217,201	222,413	461,745	298,055	212,773	193,791
Proceeds from maturities and pay-downs of investment securities:
Held-to-maturity
22,000	2,400	3,800	18,100	11,300	12,400	23,200	21,500	22,200	21,400	32,500	20,700	22,800	26,294	32,329	30,052	23,925	37,647	25,105	32,828	22,826	18,352	20,085	7,162	2,185	3,647	10,011	2,295	3,512	3,123	4,330	2,546	2,193	3,742	3,535	2,685	2,720
Available-for-sale
415,500	296,700	325,400	192,500	164,000	126,700	104,500	113,900	114,900	106,300	149,700	95,700	74,500	162,536	227,606	270,755	153,703	198,221	112,924	241,542	95,996	215,547	155,028	83,018	160,337	152,841	115,928	252,057	201,621	434,363	281,376	254,444	282,083	331,572	276,041	199,038	136,839
Purchase of company-owned life insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	0	0	0	15,000	45,000	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sales of mortgage servicing rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-266	0	0	-159	-311	0	0	0	-907	0	-596	0	0
Extensions of credit to clients, net of repayments
-7,100	-54,600	2,900	129,900	3,200	-3,800	67,000	105,200	53,300	78,800	-17,600	74,500	-36,000	-34,916	43,806	153,733	5,677	76,428	61,058	170,342	20,050	67,876	-6,669	126,943	28,580	30,754	63,748	61,081	22,997	67,198	31,985	39,763	-10,027	-50,270	-5,743	29,884	-64,419
Recoveries of loans charged-off
-1,500	-1,500	-2,900	-7,000	1,700	21,600	-2,400	-11,700	4,500	1,300	2,900	1,500	2,100	2,837	1,646	1,308	3,409	2,993	1,154	1,384	1,901	2,155	1,978	1,523	3,822	2,032	2,377	4,144	2,913	3,796	1,525	1,637	1,158	962	2,129	3,445	-1,305
Proceeds from sale of OREO
1,800	11,400	11,400	800	1,800	4,800	1,300	2,700	300	1,800	2,400	1,000	700	1,948	954	2,089	309	2,058	5,779	5,486	2,321	6,504	1,643	1,474	2,760	3,212	6,721	14,507	3,957	11,014	16,126	9,983	5,691	3,649	4,284	4,803	3,160
Acquisition of intangible assets
-	-	-	-	-	-	-	-	-	0	0	0	28,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset Impairment Charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	604	17	-	879	0	106	-	77	10	0	-	0	875	2,305	-	2,240	639	578	-	2,457	1,963	1,552
Proceeds from Sales of Business, Affiliate and Productive Assets
2,200	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Net of Cash Acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-46	-18,554	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures, net of sales
4,900	6,400	2,500	5,500	2,200	4,400	600	-2,500	2,400	-1,200	4,700	3,100	4,400	6,787	1,475	2,230	1,408	3,729	2,750	-896	382	-9,540	290	3,167	3,142	3,164	603	1,236	650	2,447	3,506	5,014	3,453	2,073	2,369	3,091	1,639
Net cash provided by investing activities
26,200	-167,900	-106,000	269,200	-12,100	285,700	1,300	20,800	-126,700	-174,600	5,400	49,200	-10,600	-57,598	60,516	-61,311	-84,707	-77,469	41,347	3,857	-63,074	-168,957	67,364	-121,820	27,571	-96,772	-63,527	82	-44,720	-99,742	-106,296	-3,642	68,601	-80,843	-12,288	-43,953	11,145
Cash flows from financing activities:
Net (decrease) increase in deposits
-98,400	-136,100	309,800	-31,500	134,000	-164,900	203,800	-80,400	91,000	1,400	-86,500	50,800	-75,900	47,543	137,546	-126,015	18,526	53,143	167,828	-163,758	-38,053	46,713	265,078	43,905	1,387	25,125	178,293	-98,013	-212,066	204,679	134,353	-9,455	83,863	-24,348	56,654	-136,519	5,471
Net decrease in securities sold under repurchase agreements
-83,500	60,700	-49,800	-16,300	-39,800	76,500	-5,900	8,000	-9,200	7,700	55,500	-7,800	50,000	60,817	-7,681	876	-45,112	73,102	-33,612	7,072	-40,177	69,772	-31,428	-25,913	31,461	29,327	6,796	-45,891	-38,580	44,980	4,812	-35,065	-25,185	40,721	40,483	-101,916	-83,199
Net increase (decrease) in other borrowed funds
-	-	-	-	-	-1,600	-4,500	0	-20,000	-9,900	-5,000	15,000	0	-6	-7	-18	31	-8	7	-1	-5	-794	-11,943	11	6	-7	8	-6	-24	26	-1	1	-1	-5,115	-318	-82	531
Payments for Repurchase of Preferred Stock and Preference Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	50,000	0	0	0	0	-	-	-	-
Repayments of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-149	17	17	15	-17,835	1,267	15	15	13	11	12	12	211	11	11	10	10	11	10	9	269	11	11	11
Advances on long-term debt
-	-	-	-	-	100	100	0	2,600	5,000	-100	100	0	87	38	38	37	37	35	35	4,996	68	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock
600	100	200	300	400	-100	200	900	800	400	1,100	-200	1,100	1,043	1,973	688	996	1,460	239	770	900	1,385	1,367	1,071	2,476	1,134	2,881	2,654	3,145	585	63	195	1,068	113	170	65	37
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	474	631	188	307	300	354	238	292	702	292	229	982	543	1,020	303	165	86	79	14	94	-5	-28	-35	192
Purchase and retirement of common stock
32,600	0	0	100	2,400	0	100	0	900	400	0	0	900	781	77	733	25,309	99	5,284	0	15,264	3	972	5,605	3,159	0	0	0	448	1	5	1	256	51	4	29	164
Dividends paid to common stockholders
61,200	20,200	20,200	20,100	18,700	16,900	15,700	15,800	15,700	13,600	13,500	10,700	10,800	9,884	9,808	9,848	9,860	9,031	9,070	9,074	9,115	7,276	7,262	7,052	7,036	6,144	6,117	5,648	0	10,760	5,158	5,155	5,135	4,814	4,812	4,809	4,798
Dividends paid to preferred stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	731	863	853	853	863	862	853	844
Net cash (used in) provided by financing activities
-275,100	-95,500	238,100	-71,800	73,500	-113,600	177,500	-87,300	48,600	-9,200	-48,600	47,200	-36,500	99,242	122,598	-134,841	-60,399	103,670	119,230	-164,733	-96,441	89,817	215,121	6,634	26,105	49,767	182,870	-146,612	-297,818	238,854	133,269	-91,567	53,586	5,369	91,272	-244,189	-82,785
Net increase in cash and cash equivalents
-207,600	-192,800	140,700	173,700	133,200	-143,000	253,000	-32,200	-14,700	-123,900	-37,000	111,900	25,900	80,590	225,316	-179,477	-124,929	72,162	201,861	-131,369	-160,867	-21,293	316,315	-106,883	75,704	-7,516	174,126	-130,326	-302,789	189,997	74,682	-86,271	150,477	-31,780	88,736	-264,830	-5,297
Supplemental schedule of noncash investing activities from acquisitions:
Capitalization of internally originated mortgage servicing rights
2,000	4,500	0	1,700	1,100	1,600	1,800	1,400	1,300	1,500	1,400	1,200	1,500	1,910	2,122	1,166	602	905	917	1,133	659	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures of cash flow information:
Cash paid during the period for income taxes
11,500	16,400	10,300	24,500	0	9,500	6,100	5,100	4,600	4,500	9,900	-14,400	28,800	13,984	12,850	23,360	4,206	0	8,885	13,350	5,100	5,550	4,910	16,190	0	9,350	9,691	17,462	3,376	4,800	0	12,640	100	4,220	3,690	8,730	0
Cash paid during the period for interest expense
10,900	12,000	15,900	14,400	12,400	11,600	10,700	8,700	7,700	7,900	11,300	2,400	6,200	4,752	4,379	-7,321	15,390	5,080	4,489	4,177	5,187	4,687	4,393	4,095	4,561	5,140	5,842	5,393	5,859	6,832	8,679	7,933	8,291	9,634	12,917	11,474	13,061
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities
3,200	-	-	-	54,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of Portfolio Loans and Leases to Held-for-sale
-	-	-	-	-	200	500	400	500	-3,300	500	5,800	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures of noncash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of loans to other real estate owned
900	100	700	4,900	8,400	1,400	3,300	6,200	1,200	2,200	1,600	1,200	400	2,265	1,316	792	3,227	180	984	1,139	3,257	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-