First merchants corp (FRME)
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 Flow From Operating Activities:
Net income

34,263

47,830

36,757

41,056

38,817

41,713

41,113

39,634

36,679

24,383

24,358

24,136

23,193

22,293

21,059

20,006

17,693

14,177

17,067

17,968

16,172

15,260

16,122

15,160

13,620

11,447

10,403

10,815

11,865

10,310

11,236

9,205

14,371

7,561

6,742

5,488

5,461

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

19,752

500

600

500

1,200

1,664

1,400

1,663

2,500

1,800

2,083

2,875

2,385

2,417

1,900

790

550

0

0

417

0

-

-

-

-

1,016

1,533

1,997

2,102

4,505

4,609

4,545

4,875

5,855

5,556

5,625

5,594

Depreciation and amortization

2,674

2,646

2,358

2,170

2,209

2,212

2,221

2,196

2,213

2,271

2,027

1,839

1,830

1,798

1,759

1,769

1,835

1,555

1,584

1,589

1,534

1,502

1,505

1,507

1,493

738

1,770

1,093

1,069

1,040

1,084

1,199

1,149

1,160

1,427

1,255

1,316

Change in deferred taxes

-7,662

6,062

-699

-1,138

740

-226

707

2,086

957

11,981

-155

678

3,019

1,722

1,318

2,247

3,324

1,081

1,022

-1,302

3,643

-1,978

6,949

3,941

6,136

-10,500

4,564

2,509

5,574

4,651

3,787

2,770

4,682

1,045

2,514

1,846

2,851

Share-based compensation

1,220

1,228

1,062

844

981

1,046

893

778

875

943

823

488

573

717

648

642

593

583

557

613

517

566

552

554

505

488

475

436

374

391

415

360

326

306

291

350

368

Tax benefit from stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-35

-21

-14

0

0

-30

-30

0

0

0

0

-

-

-

-

-

-

-

-

Loans originated for sale

163,378

150,353

177,556

115,902

67,596

95,479

98,399

86,026

92,887

130,273

119,704

80,995

46,280

73,496

81,488

111,592

87,689

77,997

109,862

107,168

69,384

73,891

69,664

50,259

29,078

38,679

57,744

91,859

92,411

79,325

136,595

86,446

91,199

111,373

78,679

40,490

66,489

Proceeds from sales of loans held for sale

170,307

151,273

177,417

114,727

69,940

94,957

98,741

89,583

96,973

129,400

121,681

87,111

48,903

73,629

103,198

96,366

93,955

71,075

120,810

105,265

70,227

77,249

70,611

49,475

27,823

38,849

66,963

103,883

88,156

84,736

124,162

93,306

86,925

105,766

71,268

37,755

85,847

Gains on sales of loans held for sale

2,931

2,047

1,917

1,349

896

1,234

1,318

1,134

1,339

1,829

1,861

1,264

956

1,580

1,680

1,454

1,204

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sales of securities available for sale

4,612

1,039

393

1,843

1,140

253

1,285

1,122

1,609

1,134

332

567

598

847

839

706

997

623

1,115

-93

1,025

1,246

910

844

581

0

0

239

248

255

843

502

789

290

861

825

463

Net gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

9,124

-

-

-

-

Increase in cash surrender of life insurance

1,360

1,458

1,144

927

989

1,074

961

907

1,078

1,133

1,058

817

898

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on life insurance benefits

-

-

-

-

-

0

0

100

98

0

517

2,154

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognized loss on other-than-temporary-impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

400

Change in interest receivable

-1,412

2,978

-2,588

4,219

50

2,350

1

3,307

-1,907

4,764

1,324

1,770

-1,020

2,542

301

515

-1,579

1,061

2,168

31

-427

-238

1,114

340

-671

731

985

-160

-1,021

-1,152

1,013

-224

-1,521

-47

769

-582

-1,091

Change in interest payable

992

-1,101

1,058

-573

1,706

-313

1,113

-569

986

-566

474

-642

765

-623

682

-859

818

-642

499

-503

484

-716

1,330

-703

1,421

322

5

-198

-493

250

-577

74

-1,198

739

-1,415

484

-1,145

Other adjustments

-20,816

8,685

-13,390

2,260

-7,019

-3,417

-10,209

-7,950

15,082

-16,060

4,627

6,751

-2,372

-322

-2,479

-3,957

5,661

1,652

4,869

-10,053

4,883

-9,653

3,210

-3,597

15,396

-3,888

4,522

-3,361

5,168

4,375

-3,353

-2,320

1,023

-7,522

-3,618

-546

-10,007

Net cash provided by operating activities

71,493

41,878

53,521

31,067

51,941

44,080

54,433

50,725

30,997

47,139

21,868

22,167

35,328

22,924

48,121

7,878

24,796

2,610

17,644

18,708

17,698

23,427

23,771

22,058

6,584

116,870

22,462

31,958

11,841

23,080

9,618

27,055

10,516

18,338

9,692

12,616

44,838

Cash Flows from Investing Activities:
Net change in interest-bearing deposits

-14,681

111,838

180,741

-58,942

-33,709

29,800

-30,164

-12,366

10,794

37,923

223,567

-27,574

4,020

9,344

28,730

14,920

-45,138

3,586

-442

57,481

-35,708

-6,823

3,685

9,222

17,991

177,185

41,023

509

-21,964

-3,119

6,436

-7,470

18,561

-36,736

-250

45,978

3,373

Purchases of:
Securities available for sale

87,499

240,987

129,513

180,768

125,523

28,851

80,647

162,673

98,113

171,825

202,264

36,137

68,819

119,508

65,089

64,241

32,632

33,509

65,018

81,434

20,193

-3,627

985

28,734

84,844

181,760

55,704

87,557

73,470

10,258

46,838

29,753

52,706

67,162

39,639

38,904

54,983

Securities held to maturity

126,759

26,219

158,607

99,702

138,857

30,465

0

0

0

0

0

22,782

7,438

16,488

17,914

41,309

35,086

31,867

0

15,873

39,542

28,167

43,005

71,749

67

2,119

1,254

7,772

0

3,696

0

0

566

5,022

1,707

73,520

2,451

Proceeds from sales of securities available for sale

96,558

29,997

20,788

47,945

34,107

28,383

25,843

44,598

55,695

39,652

13,333

15,011

26,169

62,365

19,740

15,458

69,623

13,533

27,997

3,919

38,198

78,853

30,385

8,284

9,053

0

0

3,501

21,721

9,203

16,796

4,423

21,928

21,324

28,695

15,375

10,536

Proceeds from maturities of:
Securities available for sale

45,621

48,753

35,693

28,006

25,904

21,348

20,409

20,360

15,764

18,670

19,338

17,464

15,374

21,937

19,733

19,149

13,137

15,460

15,747

17,030

14,887

21,243

16,697

16,924

13,475

14,064

22,792

24,875

31,542

34,243

30,519

24,726

22,653

22,565

15,657

9,508

12,729

Securities held to maturity

49,912

62,711

32,606

21,306

13,879

13,871

15,508

16,658

20,092

16,944

19,126

18,074

18,076

32,771

31,471

35,676

19,134

28,952

25,594

25,350

18,685

18,391

19,586

16,895

14,548

18,892

17,306

18,708

23,628

19,045

18,942

15,182

14,949

17,475

12,758

7,590

7,772

Redemption (Purchase) of Federal Reserve and Federal Home Loan Bank stock

-

-

-

-

-

0

0

0

763

0

0

-40

0

-80

-52

-19,457

-80

442

-132

-7,498

-80

-3,724

0

4,137

0

12

0

13

-8

-39

-209

7

-5

-

-

-

-

Proceeds from redemptions of Federal Reserve and Federal Home Loan Bank stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

83

Purchase of bank owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

20,000

0

5,000

Net change in loans

148,882

159,648

64,521

212,232

75,963

136,364

9,254

183,907

153,893

268,023

144,776

121,060

136,141

166,656

183,390

82,500

20,235

53,685

83,246

169,417

43,939

10,550

65,565

109,083

-15,089

105,333

10,469

43,620

-16,561

70,594

47,863

10,969

-6,390

12,157

7,363

-21,538

-59,345

Net cash and cash equivalents received in acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

29,113

-

-

-

-

Proceeds from the sale of other real estate owned

303

489

744

539

288

7,052

323

926

820

1,538

343

3,475

1,228

1,869

3,472

2,549

2,084

4,273

3,850

1,645

2,799

2,381

5,631

3,554

2,675

6,772

844

2,194

2,536

133

858

1,454

1,983

3,696

4,567

-833

6,182

Proceeds from life insurance benefits

-

-

-

-

-

0

1

51

2,784

13

6,227

5,415

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other adjustments

3,672

2,500

2,373

2,737

954

1,904

374

-2,031

-1,051

2,391

1,048

1,899

-1,291

690

2,129

445

1,226

1,255

200

-2,775

1,311

1,478

-9,449

1,516

566

-2,801

1,991

1,496

2,082

2,416

-1,567

497

719

-1,366

1,008

-8,613

684

Net cash used in investing activities

-189,099

-175,567

-74,052

-455,952

-300,828

-97,130

-58,355

-274,322

-145,769

-327,499

-60,146

-101,445

-146,240

-173,905

-165,149

-79,391

-30,259

-50,886

-75,586

-147,875

-66,044

71,117

-24,122

-160,340

-12,646

-58,518

12,547

-90,671

-1,520

-27,420

-19,374

-2,911

61,591

-54,540

-8,287

-2,238

36,902

Cash Flows from Financing Activities:
Net change in :
Demand and savings deposits

109,276

154,029

329,181

228,771

171,543

184,388

50,487

183,538

108,446

293,597

4,244

128,948

-1,047

137,205

21,690

128,803

44,902

134,139

54,683

56,557

-4,643

100,672

-63,426

42,863

-27,047

71,577

-17,010

83,423

3,062

185,731

-50,516

70,620

22,890

122,960

-41,239

30,632

-43,550

Certificates of deposit and other time deposits

-78,748

-79,524

11,016

42,759

121,662

-62,947

78,850

-7,358

46,659

-32,086

27,400

64

79,858

-24,947

14,996

-32,319

-24,650

-41,628

-29,671

-20,381

12,024

1,475

43,939

3,568

78,758

-51,387

-59,937

-61,438

-38,637

-34,099

-43,631

-61,300

-3,876

-52,555

-37,044

-40,435

-72,994

Borrowings

180,060

64,059

2,229

237,950

295,060

64,059

550,060

164,060

737,347

193,515

196,947

217,668

480,059

459,860

368,417

169,458

110,060

77,463

213,730

140,983

59,484

291,647

85,000

151,643

150,000

79,614

138,853

57,085

19,985

0

106,372

20,819

10,936

64,212

179,972

31,534

30,817

Repayment of borrowings

72,710

16,198

216,282

59,979

350,710

125,792

656,500

101,564

794,004

157,935

178,078

222,327

465,826

388,099

303,663

154,366

136,321

100,316

198,581

27,597

44,319

441,206

104,159

54,366

189,832

105,152

38,295

460

19,931

101,017

12,177

44,933

112,878

83,615

135,260

30,647

2,987

Cash dividends on common stock

14,265

14,483

12,946

12,914

10,933

10,928

10,924

10,896

8,912

8,911

8,908

7,810

6,191

6,180

5,759

5,755

4,509

4,206

4,202

4,197

3,049

3,044

2,915

2,915

1,820

1,817

1,461

1,459

875

872

871

871

289

289

260

260

258

Cash dividends on preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

241

430

852

857

1,135

1,134

1,135

1,135

1,135

787

870

870

Stock issued under employee benefit plans

0

184

156

188

174

192

171

185

159

152

121

132

114

124

122

97

119

109

120

102

129

102

124

119

133

90

119

115

155

95

129

106

119

-

-

-

-

Stock issued under dividend reinvestment and stock purchase plans

428

422

400

369

340

332

324

305

250

277

268

241

205

230

221

219

165

174

177

175

135

143

141

143

96

89

85

88

63

59

56

58

29

29

-401

169

292

Proceeds from Stock Options Exercised

7

23

16

65

40

505

140

418

535

75

241

768

1,314

2,293

98

138

73

109

803

264

355

54

0

177

273

18

53

28

16

-

-

-

-

-

-

-

-

Restricted shares withheld for taxes

0

-

-

-

1,658

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35

21

14

0

0

30

30

0

0

0

0

-

-

-

-

-

-

-

-

Cumulative preferred stock redeemed (SBLF)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34,043

34,044

0

22,696

-

-

-

-

-

-

-

-

Repurchase of common stock

55,912

0

17,366

1,675

0

0

-1,811

26

1,785

-1,257

0

3

1,254

1,180

-37

29

808

5

403

75

1,157

8

7

9

1,043

7

5

5

474

0

5

6

224

-1

3

2

122

Net cash provided by financing activities

68,136

108,507

94,729

437,192

225,518

49,796

12,530

228,662

88,695

288,658

42,235

117,681

87,232

179,306

96,159

106,246

-10,969

65,769

36,691

145,852

18,973

-50,165

-41,303

141,253

9,548

-41,259

-12,072

76,525

-60,189

48,773

-1,710

-16,642

-84,428

49,348

7,887

-9,879

-89,672

Net Change in Cash and Cash Equivalents

-49,470

-25,182

74,198

12,307

-23,369

-3,254

8,608

5,065

-26,077

8,298

3,957

38,403

-23,680

28,325

-20,869

34,733

-16,432

17,493

-21,251

16,685

-29,373

44,379

-41,654

2,971

3,486

17,093

22,937

17,812

-49,868

44,433

-11,466

7,502

-12,321

13,146

9,292

499

-7,932

Additional cash flow information:
Interest paid

24,938

29,338

28,085

27,934

22,241

21,082

17,201

16,869

12,718

12,149

8,948

8,765

6,470

7,254

6,012

7,601

5,954

7,058

5,716

6,645

5,484

6,511

4,094

6,111

3,696

3,956

3,709

4,201

4,773

4,449

6,022

6,042

8,184

7,154

10,649

9,382

12,042

Income tax paid

-

-

-

-

-

9,570

5,700

8,276

-257

4,421

8,000

10,000

0

7,500

1,344

-345

3,500

6,200

12,000

2,500

500

1,800

2,721

488

1,200

2,200

4,000

1,274

104

5,750

2,000

2,988

1,000

0

-5,954

6,463

-3,486

Loans transferred to other real estate owned

761

129

6,588

54

260

450

153

121

131

150

654

6,876

680

1,019

345

288

32

400

-116

1,251

2,109

624

1,257

1,463

1,087

2,125

1,120

750

3,175

77

1,165

774

2,425

1,542

8,832

-761

4,575

Fixed assets transferred to other real estate owned

0

245

0

663

302

0

374

0

0

-

-

-

-

0

0

0

360

434

163

1,003

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash investing activities using trade date accounting

44,362

-13,893

-26,725

26,039

14,579

5,723

618

-391

601

5,603

-3,961

-403

8,162

12,838

-3,073

-15,521

19,935

-1,773

1,445

-18,537

20,424

-3,332

985

3,143

2,374

4,271

-9,141

5,365

4,489

-1,525

2,286

-1,633

2,390

-

1,262

-27,793

28,829

ROU assets obtained in exchange for new operating lease liabilities

79

33

112

60

23,324

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liabilities assumed in conjunction with acquisitions
Net gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

9,124

-

-

-

-

Liabilities assumed

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-29,113

0

0

166,112

-

-

-

-