Republic first bancorp inc (FRBK)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities
Net income (loss)

-593

-2,485

-1,822

381

426

2,157

2,322

2,371

1,777

2,738

2,321

2,059

1,787

1,497

1,340

1,023

1,085

790

582

533

528

853

297

537

755

-3,261

-2,222

1,011

992

904

398

1,007

1,305

-23,078

1,364

-480

-2,508

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

950

1,155

450

0

300

600

500

800

400

400

0

500

0

0

607

650

300

500

0

0

0

-

-

-

-

-

-

-

-

750

850

500

-750

10,300

616

1,500

3,550

Loss on sale of other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-20

0

10

-

-

-

-

Write down of other real estate owned

-

46

224

0

16

-

-

-

-

2,223

519

148

110

-166

392

3

126

2,771

0

150

148

471

115

252

300

1,125

633

0

809

0

130

0

0

-

-

-

-

Write down of other real estate owned

-

46

224

0

16

-

-

-

-

2,223

519

148

110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

130

0

0

-

-

-

-

Writedown of other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

134

19

1,099

Depreciation and amortization

1,875

1,782

1,740

1,539

1,421

1,340

1,285

1,465

1,357

1,030

1,292

1,121

1,175

702

1,051

796

969

954

671

732

723

603

710

571

498

479

671

472

483

490

492

506

518

519

527

533

528

Stock based compensation

577

627

623

614

768

532

532

531

521

513

512

515

302

197

195

196

171

159

162

161

118

111

111

110

88

88

82

83

72

80

98

103

89

106

85

82

86

Gain on sale of investment securities

841

0

520

261

322

-

-

-

-

-

-

-

-

0

2

358

296

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale and call of investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

703

-

-

-

-

-

-

-

-

Gain on sale and call of investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Impairment charges on investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2

4

1

0

0

0

3

-

-

-

-

-

-

-

-

3

0

14

17

-

-

-

-

Amortization of premiums on investment securities

-1,583

-1,473

-980

-684

-593

-607

-774

-741

-756

-681

-597

-515

-676

-808

-535

-408

-229

-205

-323

-200

-112

-126

-121

-167

-126

-118

-233

-203

-177

-171

-109

-93

-67

-30

0

0

-45

Accretion of discounts on retained SBA loans

-220

-328

-380

-372

-331

-259

-395

-332

-346

-229

-213

-379

-267

-307

-380

-463

-214

-251

-258

-697

201

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value adjustments on SBA servicing assets

41

258

361

380

365

206

419

329

504

476

75

371

265

181

324

500

70

-583

372

258

-33

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of SBA loans originated for sale

10,745

9,035

12,817

15,643

9,456

5,915

12,528

10,379

13,904

13,705

10,872

9,314

8,378

10,076

19,113

19,223

9,695

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SBA loans originated for sale

8,474

8,969

12,283

14,546

5,566

7,731

11,638

6,776

16,555

14,667

5,101

8,413

8,881

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SBA loans originated for sale

8,474

8,969

12,283

14,546

5,566

7,731

11,638

6,776

16,555

14,667

5,101

8,413

8,881

10,611

14,846

20,978

7,192

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sales of SBA loans originated for sale

649

594

944

1,147

502

451

816

846

992

1,063

831

796

688

769

1,630

1,749

833

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of mortgage loans originated for sale

50,258

89,175

94,032

85,784

67,000

-32,917

198,621

69,523

87,037

47,498

90,188

96,761

76,740

84,385

79,029

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of SBA loans originated for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,558

5,825

-

6,115

10,905

12,465

18,656

12,109

20,847

6,563

21,625

12,292

11,658

11,408

9,702

21,151

17,670

8,225

Mortgage loans originated for sale

55,072

78,836

89,488

91,002

58,555

-43,864

190,368

83,368

61,998

47,089

104,666

98,960

70,507

79,477

82,240

0

0

0

-18,371

9,845

8,526

-22,529

5,799

6,554

10,176

-

-

-

-

-

-

-

-

-

-

-

-

Fair value adjustment for mortgage loans originated for sale

-556

-169

-236

232

-281

-39

-433

622

-663

130

414

84

218

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on mortgage loans originated for sale

1,734

1,902

2,247

2,165

1,803

1,978

2,342

1,873

2,185

1,788

2,212

2,271

1,857

929

2,783

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

0

9

26

26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs

2

2

1

2

1

1

2

1

2

7

7

8

7

2

7

8

7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash expense related to leases

183

204

287

355

282

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SBA loans originated for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,851

18,857

5,996

-

11,265

9,648

11,272

8,311

14,731

15,684

13,684

Gains on sales of SBA loans originated for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,222

578

-

614

1,046

1,154

1,475

1,106

2,107

650

2,194

1,141

1,110

1,086

926

1,983

1,657

697

Increase in value of bank owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

13

18

20

16

19

31

40

35

31

Increase in accrued interest receivable and other assets

4,864

3,940

2,232

680

1,612

3,769

471

303

504

-1,390

1,640

579

1,501

2,003

-960

1,134

552

-336

1,497

-1,185

2,990

-121

622

901

394

-1,766

1,713

-566

982

-27

-574

617

206

-2,565

-625

763

693

Increase (decrease) in accrued interest payable and other liabilities

8,894

-1,309

3,514

2,095

-2,613

2,619

-433

1,613

-2,229

1,547

-2,786

3,975

-1,223

-

-

-

-

-

-

496

-871

509

21

107

-312

-1,046

832

20

-129

-298

36

-178

104

-1,317

583

539

-135

Decrease in accrued interest payable and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

197

963

-1,556

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,888

-908

2,010

-

2,929

4,902

-5,742

2,243

366

3,997

2,196

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

3,217

7,307

5,349

-2,928

9,605

12,913

10,971

-6,366

22,112

2,271

-11,471

3,892

4,324

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,934

623

-

2,553

1,538

185

2,672

7,731

1,726

-4,215

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

16,906

-

-

-

-

67,465

2,149

4,453

75,142

112,013

42,741

9,402

909

89,670

61,875

23,081

32,856

88,861

48,129

3,322

6,356

32,002

15,459

30,847

517

12,490

24,765

23,864

1,425

11,554

20,008

26,127

14,775

-

-

-

-

Purchase of investment securities held to maturity

-

-

-

-

-

62,182

0

0

61,083

67,392

21,958

0

0

224,395

31,719

27,550

10,523

36,156

28,505

56,741

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of securities available for sale

26,869

0

11,504

18,481

24,757

726

0

5,713

0

-

-

-

-

3

0

23,867

54,715

-

-

-

-

-

-

-

-

0

0

0

7,946

3,194

0

22,590

0

-

-

-

-

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

34,703

27,441

19,057

11,878

10,636

9,387

13,031

13,662

12,716

22,882

9,903

6,807

8,955

10,687

13,264

7,153

5,878

4,762

12,938

8,189

5,270

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the maturity or call of securities available for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,963

9,336

9,016

11,396

9,009

6,815

6,450

4,677

4,368

4,139

4,785

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

32,823

42,596

30,992

23,822

19,076

17,409

18,126

14,290

13,740

686

14,046

12,231

10,352

12,054

10,077

6,929

4,100

3,921

7,542

4,085

1,141

1,142

1,166

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net redemption of restricted stock

-

375

-2,759

3,033

-3,657

3,838

-6,463

2,944

3,517

240

-2,200

2,512

0

0

-1

188

-1,880

-

-

-

-

-568

0

158

-3

-

-

-

-540

-553

-447

-246

-259

-273

-287

-302

-318

Net increase in loans

133,621

178,998

60,789

31,706

41,172

57,620

61,112

66,218

90,637

66,865

29,878

40,344

60,878

19,422

14,190

31,676

24,140

29,589

23,237

45,959

7,831

31,073

33,033

22,401

17,850

29,275

13,382

11,638

9,575

-2,671

20,009

3,522

14,314

-5,159

-1,395

9,420

10,999

Net proceeds from sale of other real estate owned

586

4,671

0

282

119

-

-

-

-

142

221

16

120

13

1,311

0

76

0

324

149

319

106

28

0

63

606

0

1,994

0

0

0

0

334

8,437

0

949

61

Premises and equipment expenditures

4,812

7,165

8,002

12,460

8,150

7,089

3,128

4,381

3,563

4,262

7,536

7,666

3,061

2,169

2,904

4,827

4,391

2,024

4,804

5,120

2,266

5,866

1,436

5,472

1,890

-

-

-

-

-

-

-

-

-

-

-

-

Premises and equipment expenditures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

620

74

137

-

135

147

142

120

91

252

121

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-91,948

-49,373

-5,261

-

-81,280

-94,660

-9,723

-61,417

-42,913

-44,962

-14,114

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-60,358

-299,596

-76,462

-71,487

8,923

-170,672

-28,681

-43,924

-207,486

-217,032

-75,743

-19,703

-45,421

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12,793

6,365

-

-30,696

-71

-22,188

17,755

9,656

-29,160

-5,956

Cash flows from financing activities
Net proceeds from exercise of stock options

23

0

0

20

240

2

107

131

429

31

24

298

291

499

13

212

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-53,736

252,755

186,933

17,771

79,515

-32,605

260,871

15,973

47,814

182,621

138,307

11,551

47,573

93,401

144,983

50,923

95,479

19,294

104,661

11,001

49,903

84,918

68,068

40,617

12,560

28,772

29,284

-2,569

-30,756

29,958

40,411

15,304

-55,376

139,774

63,135

44,733

-36,575

Net (decrease) increase in time deposits

-948

6,376

25,122

31,253

6,571

25,114

5,346

-5,283

12,342

-4,731

14,667

368

-4,731

2,037

2,998

45,721

-7,170

-7,492

3,038

-2,601

-736

-2,763

-2,677

4,185

-2,212

-4,741

-4,633

-2,717

-32,307

-8,950

-13,532

-31,364

-39,861

-20,452

-12,948

-22,708

39,922

Repayment of short-term borrowings

-

0

-68,979

68,979

-91,422

-

-

67,754

93,915

-

-

55,000

0

0

-19,666

0

-47,000

47,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

4,516

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

128,329

96,855

41,310

-

107,700

8,400

49,167

82,156

65,271

89,775

10,348

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38,269

46,574

38,059

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-54,661

259,131

143,076

118,024

-5,096

83,933

104,655

78,575

154,501

177,921

97,999

67,217

43,134

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,286

-63,063

-

26,879

-20,576

-90,721

119,322

50,187

22,025

3,347

Net (decrease) increase in cash and cash equivalents

-111,802

-33,158

71,963

43,609

13,432

-73,826

86,945

28,285

-30,873

-36,840

10,785

51,406

2,037

-

-

-

-

-

-

-

33,702

-

22,724

48,810

-1,570

-8,425

-12,479

-15,145

-56,075

30,146

-1,264

-19,109

-112,724

139,749

67,574

-5,409

-6,824

Supplemental disclosures
Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,996

1,570

1,445

-

-

-

-

1,281

1,187

1,081

1,067

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

6,632

7,003

5,153

7,180

6,649

5,156

4,419

3,481

2,849

2,826

1,950

2,167

1,992

-

-

-

-

-

-

-

-

-

-

-

-

-

1,326

1,089

1,061

-

1,543

1,831

1,989

2,256

2,280

1,797

1,770

Income taxes paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-1,299

1,299

0

0

20

50

50

10

75

100

-

-

-

-

-

-

-

-

Non-cash transfers from loans to other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

584

32

311

935

9,634

579

517

290

193

0

0

0

81

165

1,600

1,307

0

0

-

-

-

-

Conversion of subordinated debt to common stock

-

-

-

-

-

0

0

0

10,094

-11

0

0

240

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

55,825

8,216

6,077

-

-

-

-

-

-

-

-

-

-

-

-