Heritage commerce corp (HTBK)
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

1,861

5,685

11,277

11,353

12,146

13,232

12,375

915

8,809

1,258

8,583

7,449

6,538

7,215

6,765

7,295

6,106

4,423

3,459

4,477

4,138

3,602

3,425

3,324

3,076

3,354

3,213

2,793

2,180

2,669

2,486

2,679

2,075

2,887

4,817

2,086

1,581

Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of discounts and premiums on securities

-553

-769

-689

-616

-516

-695

-973

-989

-1,131

-1,126

-1,139

-1,013

-1,066

-1,252

-1,267

-1,079

-667

-357

-365

-369

-293

-304

-321

-282

-256

-337

-510

-628

-756

-807

-710

-538

-533

-714

-387

-262

-271

(Gain) loss on sale of securities available-for-sale

100

-

-

-

-

0

0

179

87

0

0

0

-6

572

0

347

180

-

-

-

-

0

47

0

50

0

0

7

31

396

1,105

32

27

-

-

-

-

(Gain) on sale of SBA loans

67

358

156

36

139

147

236

80

235

473

147

164

324

143

69

279

305

183

267

186

207

113

259

442

157

76

103

134

136

69

221

376

36

337

269

476

379

Proceeds from sale of SBA loans originated for sale

916

5,404

2,164

593

1,935

2,450

5,176

1,098

3,041

6,429

2,171

2,030

4,103

1,924

1,049

3,471

4,927

2,802

3,928

2,422

2,345

1,419

3,108

8,898

2,433

1,046

1,552

1,802

1,774

1,248

3,007

5,153

632

4,510

3,380

4,257

4,710

SBA loans originated for sale

2,212

2,527

1,071

2,543

2,363

3,525

5,539

3,904

2,246

4,773

2,906

2,190

3,861

3,405

2,842

5,682

2,505

4,586

3,324

4,640

2,356

1,805

1,253

7,831

2,022

893

2,103

3,595

2,643

3,112

1,548

2,713

4,621

1,770

2,845

189

2,830

Writedowns on other loans held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

29

Provision (credit) for credit losses on loans(1)

13,270

3,223

-576

-740

-1,061

142

-425

7,198

506

-291

115

-46

321

240

245

351

401

371

-301

22

-60

-106

-24

-198

-10

-

-

-

-

669

1,200

815

100

1,230

1,514

955

770

Increase in cash surrender value of life insurance

458

405

336

333

330

229

216

237

363

407

417

420

422

430

428

440

449

472

429

396

400

404

401

397

398

414

414

410

416

428

434

429

429

436

425

420

425

Gain on proceeds from company owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

51

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

229

248

197

213

188

187

186

184

196

200

201

195

190

198

204

192

169

158

161

180

186

186

186

176

177

190

183

179

177

181

184

190

195

187

189

193

197

Amortization of other intangible assets

858

1,078

554

554

553

607

631

464

241

278

296

442

345

392

392

392

392

388

277

189

189

165

115

115

115

118

118

119

118

123

123

122

123

131

131

131

130

Gain on sale of foreclosed assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-18

124

-

-

-

-

12

0

33

198

395

51

53

31

-57

25

32

10

Stock option expense, net

148

156

163

155

166

173

184

175

176

199

198

225

216

225

230

237

245

253

246

251

224

221

219

235

187

163

155

146

129

121

117

121

102

109

126

144

187

Amortization of restricted stock awards, net

348

351

358

303

271

295

303

283

228

234

228

229

221

188

-5

110

186

139

92

48

-14

40

42

45

-136

47

37

71

45

62

47

11

28

48

53

10

-36

Amortization of subordinated debt issuance costs

46

47

46

47

45

47

47

46

46

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of changes in:
Accrued interest receivable and other assets

3,258

-6,544

-2,049

5,331

-5,145

-1,591

-2,705

6,012

-3,288

-8,069

-1,088

3,717

-5,057

-102

4,620

-1,580

-1,700

-12,160

-4,945

-243

1,074

-1,302

5,294

59

-1,623

-3,695

-1,134

47

88

-2,846

510

-1,563

-818

502

1,064

-17

-874

Accrued interest payable and other liabilities

-2,412

-3,372

647

295

-4,062

-504

719

3,301

-2,297

360

1,373

-333

-1,052

642

1,048

28

-3,387

-2,650

-364

2,892

-1,841

2,733

2,327

-53

237

668

727

-1,138

1,806

178

198

892

-609

5,486

-1,005

-2,586

-4,799

Net cash provided by operating activities

9,722

17,060

15,675

4,598

13,010

15,014

16,883

4,241

12,434

12,255

11,986

4,713

12,404

7,728

3,236

6,968

7,967

12,518

8,788

5,889

1,299

7,544

2,465

4,095

5,280

8,211

4,475

104

3,473

4,417

4,290

8,481

-1,147

11,855

4,964

4,352

270

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of securities available-for-sale

-

-

-

-

-

147,613

0

0

15,193

21,337

35,949

40,316

47,296

0

0

0

75,803

-

-

-

-

18,517

0

0

34,775

9,510

0

0

8,334

6,307

98,419

29,745

19,943

137,251

33,236

44,266

18,339

Purchase of securities held-to-maturity

-

-

-

-

-

14,590

0

11,884

5,022

31,035

26,876

34,858

27,736

129,507

0

31,254

78,680

-

-

-

-

2,248

0

1,388

959

7,720

8,643

16,248

18,433

-

-

-

-

-

-

-

-

Maturities/paydowns/calls of securities available-for-sale

11,811

16,610

12,088

13,626

11,242

12,310

14,489

15,386

14,957

16,399

15,675

13,048

12,740

19,927

19,846

16,714

11,075

9,490

7,510

7,991

6,204

5,221

9,837

4,846

5,013

7,325

13,618

18,532

23,056

25,260

44,294

19,614

18,858

25,995

11,657

6,903

7,872

Maturities/paydowns/calls of securities held-to-maturity

17,600

17,106

17,248

15,199

9,808

12,682

12,436

12,653

13,002

11,775

12,707

9,919

9,876

7,474

7,350

5,926

2,665

1,623

522

1,066

720

1,554

1,128

886

331

541

937

944

1,429

-

-

-

-

-

-

-

-

Proceeds from sales of securities available-for-sale

26,513

-

-

-

-

0

0

55,537

38,754

0

0

0

6,536

26,518

0

43,573

5,598

-

-

-

-

0

58,592

0

50,011

0

0

23,414

3,530

14,230

24,077

0

2,280

-

-

-

-

Net change in other loans transferred to held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

-43

-19

-8

Proceeds from sale of other loans transferred to held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

220

-

-

-

-

Net change in loans

20,030

-21,674

-2,914

29,396

-38,618

-18,179

-58,433

29,659

8,559

16,516

-610

52,214

9,079

51,183

-13,804

68,738

33,675

28,738

25,852

31,431

11,877

16,605

39,251

48,609

27,183

18,277

50,568

39,755

-10,690

13,682

3,296

42,303

-5,239

-8,436

-583

-19,212

-39,924

Changes in Federal Home Loan Bank stock and other investments

3,497

-1,176

5

5

5

5

2,346

2,126

6

6

606

2,096

7

0

6

2,488

8

1,756

7

5

20

97

187

-243

122

-357

-79

107

36

-173

4

969

3

4

4

879

-136

Purchase of company owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-1

0

250

-

-

-

-

Purchase of premises and equipment

1,004

-107

71

190

49

79

76

-14

46

14

145

278

212

136

214

109

21

418

425

89

75

141

326

227

123

40

32

88

340

23

71

47

98

148

122

60

19

Proceeds from sale of foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,249

322

-

-

-

-

41

0

66

743

1,574

233

153

188

1,174

225

935

1,305

Proceeds from company-owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

406

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

31,393

89,870

62,643

59,112

59,614

-119,116

82,936

75,949

37,887

-40,734

-34,584

-106,795

-55,178

-126,332

40,780

-33,163

-168,849

-161,002

144,549

-47,325

-4,726

-52,751

29,793

-44,249

-7,401

-27,283

-44,609

-13,242

12,305

-3,719

-40,006

-53,297

6,491

-57,555

-20,855

-16,616

30,887

CASH FLOWS FROM FINANCING ACTIVITIES:
Net change in deposits

-48,129

-48,481

66,517

-17,771

2,712

-107,767

61,680

-155,201

-60,797

2,385

105,873

44,644

67,947

43,506

144,850

45,048

-34,039

100,752

109,763

23,488

35,263

46,564

73,974

5,853

-24,226

90,684

6,498

22,149

-312,478

341,335

35,280

22,503

30,822

43,294

7,579

-4,768

9,405

Repayment of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

40,000

-

-

-

-

Repayment of short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in securities sold under agreement to repurchase

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-5,000

Net change in short-term borrowings

-328

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-2,174

-271

Exercise of stock options

1,106

903

157

297

269

168

497

1,553

449

16

692

295

365

223

92

265

358

46

147

16

106

220

23

0

19

53

9

22

4

-

-

-

-

-

-

-

-

Payment of cash dividends - Series A preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

373

-

-

-

-

Payment of cash dividends

7,737

7,105

5,221

5,201

5,196

4,760

4,755

4,743

4,206

3,820

3,814

3,809

3,795

3,414

3,410

3,409

3,394

3,016

2,577

2,576

2,569

1,602

1,598

1,280

1,278

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-55,088

-65,343

61,453

-22,675

-2,215

-112,359

57,422

-158,391

-64,554

-1,419

102,705

80,249

64,517

40,315

141,532

41,904

-40,075

99,638

108,333

20,928

32,800

13,535

72,399

4,573

-25,485

89,779

-3,730

22,031

-312,474

341,357

20,865

22,512

-9,551

42,794

3,407

-6,942

4,134

Net (decrease) increase in cash and cash equivalents

-13,973

41,587

139,771

41,035

70,409

-216,461

157,241

-78,201

-14,233

-29,898

80,107

-21,833

21,743

-78,289

185,548

15,709

-200,957

-48,846

261,670

-20,508

29,373

-31,672

104,657

-35,581

-27,606

70,707

-43,864

8,893

-296,696

342,055

-14,851

-22,304

-4,207

-2,906

-12,484

-19,206

35,291

Supplemental disclosures of cash flow information:
Interest paid

1,824

3,242

1,960

3,009

1,724

2,800

1,422

2,329

977

2,254

1,070

951

891

887

815

771

741

777

593

570

487

643

484

521

518

575

668

733

709

767

1,509

861

1,557

847

1,167

4,462

1,425

Income taxes paid (net of refunds)

159

4,110

2,729

10,883

8

4,167

8

8,659

4

5,525

3,645

8,083

3

4,395

7,180

3,580

1,375

404

2,640

2,860

1,000

1,030

1,190

1,560

500

-1,344

1,130

1,210

1,025

500

1,000

430

800

-

-

-

-

Supplemental schedule of non-cash activity:
Due to broker for securities purchased

-

-

-

-

-

-

-

-

5,439

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-940

363

-1,813

3,351

-5,860

6,023

-8,591

11,921

-

-

11,524

8,231

Recording of right to use assets in exchange for lease obligations

25,066

0

0

0

9,566

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transfer of loans held-for-sale to loan portfolio

-

-

-

-

-

-

-

-

-

0

0

515

1,876

2,660

0

0

2,791

-

-

-

-

-

-

-

-

3,750

0

0

20

-

-

-

-

-

-

-

-

Loans transferred to foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

229

0

0

49

0

0

0

1,236

-

-

-

-

0

0

0

33

83

0

0

1,973

2,313

1,181

153

918