Heritage financial corp (HFWA)
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) Attributable to Parent

12,191

-33,879

17,895

15,984

16,552

16,609

15,504

11,857

9,087

10,023

10,624

11,828

9,316

9,893

11,039

8,895

9,091

9,493

9,492

8,725

9,779

7,255

7,068

4,148

2,543

710

3,290

2,690

2,885

3,034

2,863

3,194

4,170

2,232

1,836

1,686

764

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment, amortization of securities available for sale, and amortization of discount of junior subordinated debentures

2,095

-3,986

1,965

2,021

2,234

2,270

2,398

2,509

2,631

2,587

2,658

2,651

2,808

3,166

3,060

3,170

3,313

3,481

3,816

3,278

3,392

3,839

4,214

2,163

2,666

1,415

1,424

1,280

1,292

1,263

1,159

990

878

930

724

209

322

Changes in net deferred loan costs, net of amortization

239

846

-293

-553

-276

112

-216

263

-9

351

147

171

338

451

516

78

377

609

256

371

630

533

807

345

48

-155

-22

-249

-148

-180

-20

-91

55

-288

52

-283

-18

Provision for loan losses

7,946

-1,833

466

1,367

920

1,162

1,065

1,750

1,152

1,338

884

1,131

867

1,177

1,495

1,120

1,139

1,125

850

1,189

1,208

2,851

594

691

458

428

1,078

1,308

858

-

-

-

-109

3,317

3,216

3,524

4,373

Net change in accrued interest receivable, prepaid expenses and other assets, and accrued expenses and other liabilities

-7,581

1,042

3,948

-4,990

1,345

5,964

3,812

4,610

-4,191

3,319

4,833

2,680

802

2,340

2,878

-2,190

-881

4,007

1,937

4,926

-10,948

13,027

3,385

-2,425

-751

7,063

2,116

1,327

-1,483

4,749

4,750

-3,190

-431

-1,754

-329

1,495

-3,636

Stock-based compensation expense

969

-1,625

830

795

741

728

709

684

623

535

528

530

510

473

495

427

445

430

409

368

348

499

357

263

276

297

204

471

251

290

275

394

226

174

196

264

221

Stock option compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5

15

16

13

20

22

23

23

18

42

43

27

43

52

Net excess tax benefit from exercise of stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

4

22

74

23

15

35

49

41

58

27

1

32

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefits and excess tax benefits from restricted stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4

21

47

-59

10

-90

46

149

-6

-148

1

Amortization of intangible assets

903

-2,001

975

1,026

1,025

1,114

1,114

796

795

320

319

323

324

358

359

363

335

523

523

527

527

672

603

489

156

157

157

114

115

107

106

107

107

107

107

113

113

Impairment loss on investment securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

37

8

12

0

24

2

18

0

24

36

25

29

18

26

Origination of mortgage loans held for sale

16,026

-37,245

25,524

11,721

8,607

15,107

20,946

19,668

20,380

25,929

28,318

27,240

27,209

45,594

41,538

34,789

23,186

30,622

36,053

37,107

29,150

22,610

22,454

12,592

0

0

0

2,641

4,143

5,899

7,568

4,308

3,260

6,685

5,072

3,029

3,230

Proceeds from sale of mortgage loans held for sale

18,298

-36,086

24,733

11,353

7,458

15,907

23,368

19,311

20,651

29,906

20,140

35,480

35,956

46,547

41,076

35,937

24,561

31,776

36,422

40,192

27,125

22,212

25,974

9,329

0

0

0

3,431

5,171

5,721

7,423

4,305

4,033

5,851

4,881

2,869

3,667

Earnings on bank owned life insurance

885

-1,091

564

527

487

674

413

331

335

316

361

372

375

374

391

333

362

585

366

233

170

214

146

70

25

-

-

-

-

-

-

-

-

-

-

-

-

Valuation adjustment on other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-71

-312

-114

0

-85

-330

0

0

0

0

-348

-45

-85

107

-1,307

0

814

-331

276

0

956

-361

Loss on sale of other real estate owned, net

-4

-

-

-

-

-

-

-

-

-

-

-

-

0

131

32

10

-3

3

-27

-70

335

-377

38

27

-43

75

60

172

587

2

10

-12

4

-22

-40

-13

Gain on sale of loans, net

547

-1,361

993

368

252

473

706

706

874

1,134

1,229

4,138

1,195

1,588

3,435

1,242

729

855

1,411

1,282

1,135

543

742

233

0

0

0

61

81

87

92

53

63

71

59

35

151

Deferred income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

183

34

-

-

-

-

Bargain purchase gain on bank acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

399

-

-

-

-

-

-

-

-

Gain on sale of investment securities, net

1,014

-314

281

33

15

2

82

18

35

-155

44

117

0

209

345

201

560

154

393

425

544

33

-13

87

180

0

0

0

0

-

-

-

-

-

-

-

-

Gain (Loss) of Assets Held for Sale

9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment for right of use asset

0

0

0

0

117

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sale or write-off of premises and equipment, net

9

-19

4

5

5

-1

-31

-6

6

-25

0

9

3

3

-137

244

0

-

-

-

-

39

45

0

421

1,180

-596

0

0

5

0

-1

-1

-

-

-

-

Net cash provided by operating activities

16,096

-39,462

23,687

15,775

21,312

27,020

25,688

20,600

9,139

19,727

9,776

22,541

21,469

15,737

13,887

11,288

13,068

18,202

14,834

18,200

161

26,068

18,454

1,334

5,480

10,695

7,674

8,216

4,312

9,832

9,537

2,607

5,906

4,493

5,294

8,172

2,912

Bank Owned Life Insurance Death Benefit

1,324

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from investing activities:
Loans originated, net of principal payments

86,596

-40,522

16,907

23,615

42,357

5,516

-3,080

49,168

46,959

56,354

43,091

102,460

33,249

72,589

64,463

67,736

58,599

28,756

57,221

59,429

39,456

52,014

-25,394

-10,149

5,180

-3,171

6,885

33,033

6,393

-

-

-

-

-

-

-

-

Maturities of other interest earning deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

5,461

0

0

1,248

-1,490

-150

4,239

747

2,988

993

997

497

1,715

272

0

0

-

-

-

-

-

-

-

-

Maturities, calls and payments of investment securities available for sale

74,320

-98,774

40,378

58,396

47,004

27,938

23,189

16,993

24,443

23,094

23,339

32,367

20,094

35,080

33,525

37,756

23,047

32,677

35,215

27,801

28,899

29,396

19,564

10,573

7,343

8,171

11,903

15,260

16,109

23,986

11,776

15,186

10,803

14,037

9,316

6,281

5,562

Maturities, calls and payments of investment securities held to maturity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,324

662

921

314

2,281

482

280

241

2,631

777

446

338

753

387

648

389

416

829

406

570

Principal payments on loans, net of loans originated

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,448

-

-

-

-8,873

Purchase of investment securities available for sale

90,517

-98,895

52,177

46,718

57,606

79,712

115,069

78,008

69,352

48,897

43,045

50,040

7,932

79,493

60,118

51,466

76,580

132,451

76,293

26,027

55,728

92,946

45,125

181,632

24,443

5,472

5,647

15,018

17,490

21,627

10,163

21,769

10,344

17,446

2,585

19,198

14,361

Proceeds from sales of investment securities available for sale

25,177

-32,940

9,393

23,547

10,932

-932

49,367

4,547

103,032

9,178

6,818

15,032

0

45,993

18,543

25,397

50,440

13,395

39,477

39,573

23,887

-1,646

653

117,669

40,318

0

0

0

0

-

-

-

-

-

-

-

-

Purchase of investment securities held to maturity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-19

0

19

3,294

3,789

-108

2,576

1,157

-

-

-

-

0

0

0

271

Purchase of premises and equipment

1,423

-9,496

4,152

5,344

1,030

1,797

4,809

14,513

2,146

842

839

535

847

1,594

4,040

798

290

412

430

434

545

610

1,352

1,394

584

905

849

1,924

1,527

2,395

249

717

498

713

827

527

1,060

Proceeds from sales of other loans

-

-

3,508

54

0

0

5,461

1,719

2,813

4,732

2,823

16,854

4,465

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of other real estate owned

266

-785

435

350

79

0

198

0

0

-

-

-

-

0

1,716

227

543

356

1,560

1,050

589

4,741

1,316

3,337

520

413

924

1,955

2,711

2,560

1,804

790

101

391

1,058

1,333

475

Proceeds from Sale of Assets Held for Sale

394

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Sale of Federal Home Loan Bank Stock

760

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from redemption of Federal Home Loan Bank stock

-

-

-5,348

-10,408

-2,276

-528

-3,872

-12,008

-10,130

-8,230

-5,332

-8,774

-7,682

-8,316

-4,956

-10,460

0

0

120

-7,994

-166

-175

-184

-183

-75

-54

-53

-51

-50

-

-

-

-

-

-

-

-

Purchases of Federal Home Loan Bank stock

1,044

-14,756

1,720

13,036

3,577

528

212

13,800

7,984

7,234

5,592

10,540

7,435

10,792

4,344

11,780

232

0

-120

120

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of premises and equipment

9

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase bank owned life insurance

3,579

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital contributions to low-income housing tax credit partnerships and new market tax credit partnerships, net

-1,434

16,912

-14,750

-2,162

-80

-34

-100

-473

-7,696

-2,256

-8,499

0

-7

-1,141

-1,061

-2,254

0

-304

-198

-8

-236

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash received from acquisitions

-

-

0

0

0

0

25,841

0

80,133

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

17,512

0

748

-

-

-

-

-

-

-

-

Net cash used in investing activities

-82,343

36,729

-38,640

1,911

-44,359

-58,800

-8,574

-120,674

86,414

-71,502

-62,380

-90,283

-17,229

-62,613

-69,696

-60,194

-60,423

-82,312

-64,478

-28,468

-41,363

-106,793

2,917

-33,266

15,493

5,989

18,868

-34,839

-6,611

7,200

-1,279

-19,322

9,899

-30,132

122

-31,543

-212

Cash flows from financing activities:
Net increase (decrease) in deposits

35,272

-168,542

214,549

-46,007

-38,687

34,275

110,475

64,194

5,796

72,242

29,568

47,835

13,767

-12,773

83,515

27,977

22,642

54,089

107,711

34,029

6,127

3,262

36,527

28,434

5,025

-26,796

22,441

-28,581

46,699

-15,729

20,354

-26,191

3,493

-1,401

29,725

8,000

-36,556

Federal Home Loan Bank advances

19,000

368,900

-43,000

-325,900

-76,900

-13,500

-5,000

-345,000

-191,450

-180,850

-139,800

-258,100

-184,600

-257,800

-108,600

-294,500

0

0

0

7,420

-7,420

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of Federal Home Loan Bank advances

19,000

-393,900

133,700

260,200

51,900

13,500

96,500

300,200

253,250

205,750

133,300

213,950

197,450

195,900

123,900

261,500

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock cash dividends paid

7,314

-

-

6,618

6,662

9,995

5,549

5,130

5,117

6,905

3,903

3,903

3,594

11,081

3,594

3,596

3,298

6,295

3,295

3,300

3,026

7,567

2,731

1,297

1,297

1,296

2,954

1,213

1,209

5,758

4,240

1,230

927

-

-

-

-

Net decrease in securities sold under agreement to repurchase

8,377

960

-2,742

1,782

6,564

746

-9,603

3,932

5,721

-3,153

-7,413

185

664

321

-5,710

3,627

2,872

-385

-2,240

2,588

9,004

3,209

-9,940

3,340

630

-6,765

-6,295

-4,331

3,992

6,868

-9,233

11,740

-2,305

-4,321

-1,498

-4,029

5,784

Proceeds from exercise of stock options

71

-22

2

20

22

15

71

26

21

5

50

0

109

139

32

227

142

85

125

95

446

149

339

370

57

34

129

17

20

-

-

-

-

-

-

-

-

Excess Tax Benefit from Share-based Compensation, Financing Activities

-

-

-

-

-

-

-

-

-

-

-

-

-

4

22

74

23

15

35

49

41

58

27

1

32

-109

4

21

47

-59

10

-90

46

149

-6

-148

1

Repurchase of common stock

19,060

-7,833

6,954

879

802

2

14

250

1,438

63

0

293

381

7

761

223

1,903

6

7

5,349

2,374

482

1,848

106

165

5

8,638

64

118

745

8

5,156

114

-

-

-

-

Net cash provided by (used in) financing activities

592

-123,065

112,631

10,434

-27,693

23,547

23,086

99,708

-68,259

43,532

39,628

87,604

-3,613

37,861

69,624

53,832

14,734

48,273

106,809

15,516

-370

-7,789

42,254

24,062

3,022

-21,407

17,277

-25,489

41,447

-29,083

25,391

-39,786

193

-3,090

29,194

-157

-30,771

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect

-65,655

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

97,678

28,120

-50,740

-8,233

40,200

-366

27,294

-8,243

-12,976

19,862

627

-9,015

13,815

4,926

-32,621

-15,837

57,165

5,248

-41,572

-88,514

63,625

-7,870

23,995

-4,723

43,819

-52,112

39,148

-12,051

33,649

-56,501

15,998

-28,729

34,610

-23,528

-28,071

Supplemental disclosures of cash flow information:
Cash paid for interest

4,507

-9,298

4,564

4,734

3,801

3,888

3,341

2,758

2,398

2,375

2,336

1,913

1,775

1,465

1,525

1,525

1,483

1,483

1,918

1,203

1,720

1,755

1,819

961

887

908

896

922

952

1,000

1,077

1,194

1,337

1,390

1,642

1,735

1,957

Cash paid for income taxes, net of refunds

58

-7,098

1,553

5,545

0

987

1,923

2,724

0

545

493

1,007

0

2,500

3,000

6,000

0

3,000

2,481

1,549

8,256

-2,166

4,952

6,993

7

500

0

462

2,612

2,865

476

6,722

650

4,013

2,896

1,946

1,143

Supplemental non-cash disclosures of cash flow information:
Transfers of loans receivable to other real estate owned

270

-

-

-

-

-

-

-

-

0

0

0

32

754

25

0

652

233

611

85

1,728

889

459

0

218

1,234

1,227

513

0

-

-

-

-

-

-

-

-

Transfers of loans receivable to loans held for sale

-

-

-

-

-

-

-

-

-

-

-

0

5,779

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transfers of properties held for sale recorded in premises and equipment, net to prepaid expenses and other assets

0

-770

770

0

763

1

1,614

221

0

0

0

0

2,687

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Seller-financed sale of other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

250

-

-

-

-

-

-

-

-

Business Combinations:
Common stock issued in business combinations

-

-

0

0

0

0

99,273

0

130,770

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired (liabilities assumed) in acquisitions:
Loans transferred to other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

453

1,217

4,309

2,557

1,759

0

1,337

Investment securities available for sale

-

-

0

0

0

0

4,493

0

80,353

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

31,444

0

2,753

-

-

-

-

-

-

-

-

Loans receivable

-

-

0

0

0

73

330,085

0

388,462

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

117,071

0

51,509

-

-

-

-

-

-

-

-

Other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,279

-

-

-

-

-

-

-

-

Premises and equipment

-

-

0

0

0

0

3,053

0

732

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

6,558

0

214

-

-

-

-

-

-

-

-

Federal Home Loan Bank stock

-

-

0

0

0

0

1,120

0

623

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

366

0

88

-

-

-

-

-

-

-

-

Accrued interest receivable

-

-

0

0

0

0

1,006

0

1,448

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

465

0

232

-

-

-

-

-

-

-

-

Bank owned life insurance

-

-

0

0

0

0

10,852

0

6,264

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

-

-

0

0

0

-225

1,828

0

1,354

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

2,788

299

0

4,048

-

-

-

-

-

-

-

-

Other intangible assets

-

-

0

0

0

0

7,075

0

11,270

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

916

0

156

-

-

-

-

-

-

-

-

Deposits

-

-

0

0

0

0

318,717

0

505,885

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

10

207,003

0

60,442

-

-

-

-

-

-

-

-

Accrued expenses and other liabilities

-

-

0

0

0

-50

5,985

0

2,504

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

342

0

1,186

-

-

-

-

-

-

-

-

Purchase of investment securities available for sale not settled

7,303

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-