Republic first bancorp inc (FRBK)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities
Net income (loss)

-3,500

8,627

8,905

4,945

2,433

2,442

-3,480

3,614

-24,702

-10,690

-11,442

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

1,905

2,300

900

1,557

500

900

4,935

1,350

15,966

16,600

14,200

Loss on sale of other real estate owned

-

-

-

-

-

-9

-68

-10

-4,804

-

-

Write down of other real estate owned

286

563

3,000

355

3,069

1,138

2,567

130

1,299

1,554

-

Loss on sale of other real estate owned

-

-

-

-

-

-

-

-

-

-213

-

Write down of other real estate owned

286

563

3,000

355

3,069

-

-

-

-

1,554

-

Writedown of other real estate owned

-

-

-

-

-

-

-

-

-

-

1,571

Depreciation and amortization

6,482

5,447

4,618

3,518

3,080

2,382

2,105

2,006

2,107

2,029

1,858

Deferred income taxes

1,744

1,527

-5,056

-380

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-84

-142

-304

-225

8,262

-5,737

-3,032

Deferred compensation plan distributions and transfers

-

-

-

-

-

-

-

-

-

-

1,167

Stock based compensation

2,632

2,116

1,842

759

600

420

325

370

359

276

278

Gain on sale of investment securities

1,103

-67

-146

656

108

458

703

-

-

-

-

Gain on sale and call of investment securities

-

-

-

-

-

-

-

737

640

-

-

Gain on sale and call of investment securities

-

-

-

-

-

-

-

-

-

1,254

-

Impairment charges on investment securities

-

-

-

7

3

7

0

34

42

372

2,073

Amortization of premiums on investment securities

-3,730

-2,878

-2,469

-1,980

-840

-540

-731

-440

-75

-93

203

Accretion of discounts on retained SBA loans

-1,411

-1,332

-1,088

-1,364

-1,005

-899

448

-

-

-

-

Fair value adjustments on SBA servicing assets

1,364

1,458

1,187

1,075

14

655

212

-

-

-

-

Proceeds from sales of SBA loans originated for sale

46,951

42,726

42,269

58,107

32,922

51,388

-

-

-

-

-

SBA loans originated for sale

41,364

42,700

37,062

53,627

31,760

-

-

-

-

-

-

SBA loans originated for sale

41,364

42,700

37,062

53,627

31,760

43,416

-

-

-

-

-

Gains on sales of SBA loans originated for sale

3,187

3,105

3,378

4,981

3,139

4,717

-

-

-

-

-

Proceeds from sales of mortgage loans originated for sale

335,991

322,264

311,187

163,414

0

0

-

-

-

-

-

Proceeds from sales of SBA loans originated for sale

-

-

-

-

-

-

58,175

56,983

56,748

0

-

Mortgage loans originated for sale

317,881

291,870

321,222

161,717

0

0

57,450

50,609

-

-

-

Fair value adjustment for mortgage loans originated for sale

-454

-513

846

483

0

-

-

-

-

-

-

Gains on mortgage loans originated for sale

8,117

8,378

8,128

3,712

0

0

-

-

-

-

-

Amortization of intangible assets

-

-

61

43

0

0

-

-

-

-

-

Amortization of debt issuance costs

6

6

29

24

24

24

-

-

-

-

-

Non-cash expense related to leases

1,128

-

-

-

-

-

-

-

-

-

-

SBA loans originated for sale

-

-

-

-

-

-

-

-

52,410

0

-

Gains on sales of SBA loans originated for sale

-

-

-

-

-

-

5,338

5,531

5,263

0

-

Increase in value of bank owned life insurance

-

-

-

-

-

-

13

73

137

182

255

Increase in accrued interest receivable and other assets

8,464

5,047

2,330

2,729

2,966

1,796

363

222

-1,734

-7,206

8,188

Increase (decrease) in accrued interest payable and other liabilities

1,687

1,570

1,513

-846

213

325

-323

-336

-330

-263

-693

Net cash (used in) provided by operating activities

-

-

-

-

-

8,802

560

7,204

-

-

-

Net cash provided by operating activities

19,333

39,630

-984

5,289

4,636

-

-

-

7,914

9,791

-2,666

Cash flows from investing activities
Purchase of investment securities available for sale

338,500

149,209

165,065

207,482

146,668

78,825

62,544

72,464

80,987

20,313

130,783

Purchase of investment securities held to maturity

-

123,265

89,350

294,187

121,402

0

0

-

-

-

-

Proceeds from the sale of securities available for sale

54,742

6,439

31,197

78,585

11,707

5,700

7,946

25,784

34,277

18,239

-

Proceeds from the paydown, maturity, or call of securities available for sale

69,012

48,796

48,547

36,982

31,159

25,822

32,931

-

-

-

-

Proceeds from the maturity or call of securities available for sale

-

-

-

-

-

-

-

33,670

17,969

44,171

27,752

Proceeds from the paydown, maturity or call of securities held to maturity

116,486

63,565

37,315

33,160

16,689

2,308

48

75

7

-

-

Proceeds from maturity or call of securities held to maturity

-

-

-

-

-

-

-

-

-

8

43

Net redemption of restricted stock

-3,008

3,836

552

-1,693

1,902

-413

-2,246

-1,505

-1,180

-335

-

Net increase in loans

312,665

275,587

197,965

89,428

106,616

104,357

63,870

35,174

13,865

-48,553

-71,383

Proceeds from sale of loans

-

-

-

-

-

-

-

-

22,576

0

-

Net proceeds from sale of other real estate owned

5,072

495

499

1,400

792

197

2,600

334

9,447

3,946

1,511

Net cash paid in acquisition

-

-

-

5,913

0

0

-

-

-

-

-

Proceeds from death benefit on bank owned life insurance

-

-

-

-

-

-

-

-

-

0

-

Surrender proceeds on bank owned life insurance

-

-

-

-

-

-

10,503

-

0

-

-

Premises and equipment expenditures

35,777

18,161

22,525

14,291

14,214

14,664

2,877

475

-

-

-

Premises and equipment expenditures

-

-

-

-

-

-

-

-

584

3,035

12,139

Net cash used in investing activities

-

-

-

-

-

-163,406

-73,017

-46,745

-

-

-

Net cash (used in) provided by investing activities

-438,622

-450,763

-357,899

-459,481

-330,455

-

-

-

-7,705

91,904

-42,233

Cash flows from financing activities
Net proceeds from stock offering

-

-

-

99,175

0

44,853

0

-

-

28,802

-

Net proceeds from exercise of stock options

261

670

646

726

64

0

0

-

-

14

166

Stock purchases for deferred compensation plan

-

-

-

-

-

-

-

-

-

-100

-499

Tax benefit of stock option exercises

-

-

-

-

-

-

-

-

-

-

14

Net (decrease) increase in demand, money market and savings deposits

536,974

292,053

380,052

384,786

184,859

206,163

24,731

30,297

211,067

18,963

160,139

Net (decrease) increase in time deposits

69,322

37,519

5,573

43,586

-7,791

-3,467

-44,398

-93,707

-16,186

-144,127

-16,412

Repayment of short-term borrowings

-91,422

91,422

-

-66,666

47,000

0

0

-

-

-

-77,309

Net cash provided by financing activities

-

-

-

-

-

247,550

-19,667

-63,410

-

-

-

Net increase in cash and cash equivalents

-

-

-

-

-

92,946

-

-

-

-

-

Net decrease in other borrowings

-

-

-

-

-

-

-

-

-

25,000

-

Net cash used in financing activities

515,135

421,664

386,271

461,607

224,132

-

-

-

194,881

-121,448

66,099

Net (decrease) increase in cash and cash equivalents

95,846

10,531

27,388

7,415

-101,687

-

-92,124

-102,951

195,090

-19,753

21,200

Supplemental disclosures
Interest paid

-

-

-

-

-

4,616

4,654

7,114

-

-

-

Interest paid

25,985

15,905

8,935

6,664

5,401

-

-

-

8,103

11,118

16,769

Income taxes paid

-

-

75

190

0

70

235

-

0

-

-

Non-cash transfers from loans to other real estate owned

1,225

315

291

616

11,459

1,000

246

2,907

-

-

-

Conversion of subordinated debt to common stock

-

10,094

229

-

0

-

-

-

-

-

-

Transfer of available-for-sale securities to held-to-maturity securities

-

230,094

-

-

-

-

-

-

-

-

-

Transfer of available-for-sale-securities to held-to-maturity securities

-

-

-

-

-

70,118

0

-

-

-

-

Non-cash transfers from loans to other real estate owned

-

-

-

-

-

-

-

-

6,792

6,913

8,113