Heritage commerce corp (HTBK)
CashFlow / TTM
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

30,176

40,461

48,008

49,106

38,668

35,331

23,357

19,565

26,099

23,828

29,785

27,967

27,813

27,381

24,589

21,283

18,465

16,497

15,676

15,642

14,489

13,427

13,179

12,967

12,436

11,540

10,855

10,128

10,014

9,909

10,127

12,458

11,865

11,371

0

0

0

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

-2,627

-2,590

-2,516

-2,800

-3,173

-3,788

-4,219

-4,385

-4,409

-4,344

-4,470

-4,598

-4,664

-4,265

-3,370

-2,468

-1,758

-1,384

-1,331

-1,287

-1,200

-1,163

-1,196

-1,385

-1,731

-2,231

-2,701

-2,901

-2,811

-2,588

-2,495

-2,172

-1,896

-1,634

0

0

0

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

0

-

-

-

-

266

266

266

87

-6

566

566

913

1,099

0

0

0

-

-

-

-

97

97

50

57

38

434

1,539

1,564

1,560

0

0

0

-

-

-

-

(Gain) on sale of SBA loans

617

689

478

558

602

698

1,024

935

1,019

1,108

778

700

815

796

836

1,034

941

843

773

765

1,021

971

934

778

470

449

442

560

802

702

970

1,018

1,118

1,461

0

0

0

Proceeds from sale of SBA loans originated for sale

9,077

10,096

7,142

10,154

10,659

11,765

15,744

12,739

13,671

14,733

10,228

9,106

10,547

11,371

12,249

15,128

14,079

11,497

10,114

9,294

15,770

15,858

15,485

13,929

6,833

6,174

6,376

7,831

11,182

10,040

13,302

13,675

12,779

16,857

0

0

0

SBA loans originated for sale

8,353

8,504

9,502

13,970

15,331

15,214

16,462

13,829

12,115

13,730

12,362

12,298

15,790

14,434

15,615

16,097

15,055

14,906

12,125

10,054

13,245

12,911

11,999

12,849

8,613

9,234

11,453

10,898

10,016

11,994

10,652

11,949

9,425

7,634

0

0

0

Writedowns on other loans held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29

0

0

0

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

15,177

846

-2,235

-2,084

5,854

7,421

6,988

7,528

284

99

630

760

1,157

1,237

1,368

822

493

32

-445

-168

-388

-338

0

0

0

-

-

-

-

2,784

3,345

3,659

3,799

4,469

0

0

0

Increase in cash surrender value of life insurance

1,532

1,404

1,228

1,108

1,012

1,045

1,223

1,424

1,607

1,666

1,689

1,700

1,720

1,747

1,789

1,790

1,746

1,697

1,629

1,601

1,602

1,600

1,610

1,623

1,636

1,654

1,668

1,688

1,707

1,720

1,728

1,719

1,710

1,706

0

0

0

Gain on proceeds from company owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

887

846

785

774

745

753

766

781

792

786

784

787

784

763

723

680

668

685

713

738

734

725

729

726

729

729

720

721

732

750

756

761

764

766

0

0

0

Amortization of other intangible assets

3,044

2,739

2,268

2,345

2,255

1,943

1,614

1,279

1,257

1,361

1,475

1,571

1,521

1,568

1,564

1,449

1,246

1,043

820

658

584

510

463

466

470

473

478

483

486

491

499

507

516

523

0

0

0

Gain on sale of foreclosed assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

106

0

0

0

-

-

-

-

243

626

677

697

530

78

52

31

10

0

0

0

Stock option expense, net

622

640

657

678

698

708

734

748

798

838

864

896

908

937

965

981

995

974

942

915

899

862

804

740

651

593

551

513

488

461

449

458

481

566

0

0

0

Amortization of restricted stock awards, net

1,360

1,283

1,227

1,172

1,152

1,109

1,048

973

919

912

866

633

514

479

430

527

465

265

166

116

113

-9

-2

-7

19

200

215

225

165

148

134

140

139

75

0

0

0

Amortization of subordinated debt issuance costs

186

185

185

186

185

186

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of changes in:
Accrued interest receivable and other assets

-4

-8,407

-3,454

-4,110

-3,429

-1,572

-8,050

-6,433

-8,728

-10,497

-2,530

3,178

-2,119

1,238

-10,820

-20,385

-19,048

-16,274

-5,416

4,823

5,125

2,428

35

-6,393

-6,405

-4,694

-3,845

-2,201

-3,811

-4,717

-1,369

-815

731

675

0

0

0

Accrued interest payable and other liabilities

-4,842

-6,492

-3,624

-3,552

-546

1,219

2,083

2,737

-897

348

630

305

666

-1,669

-4,961

-6,373

-3,509

-1,963

3,420

6,111

3,166

5,244

3,179

1,579

494

2,063

1,573

1,044

3,074

659

5,967

4,764

1,286

-2,904

0

0

0

Net cash provided by operating activities

47,055

50,343

48,297

49,505

49,148

48,572

45,813

40,916

41,388

41,358

36,831

28,081

30,336

25,899

30,689

36,241

35,162

28,494

23,520

17,197

15,403

19,384

20,051

22,061

18,070

16,263

12,469

12,284

20,661

16,041

23,479

24,153

20,024

21,441

0

0

0

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

-

-

-

-

-

162,806

36,530

72,479

112,795

144,898

123,561

87,612

47,296

75,803

0

0

0

-

-

-

-

53,292

44,285

44,285

44,285

17,844

14,641

113,060

142,805

154,414

285,358

220,175

234,696

233,092

0

0

0

Purchase of securities held-to-maturity

-

-

-

-

-

31,496

47,941

74,817

97,791

120,505

218,977

192,101

188,497

239,441

0

0

0

-

-

-

-

4,595

10,067

18,710

33,570

51,044

0

0

0

-

-

-

-

-

-

-

-

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

54,135

53,566

49,266

51,667

53,427

57,142

61,231

62,417

60,079

57,862

61,390

65,561

69,227

67,562

57,125

44,789

36,066

31,195

26,926

29,253

26,108

24,917

27,021

30,802

44,488

62,531

80,466

111,142

112,224

108,026

108,761

76,124

63,413

52,427

0

0

0

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

67,153

59,361

54,937

50,125

47,579

50,773

49,866

50,137

47,403

44,277

39,976

34,619

30,626

23,415

17,564

10,736

5,876

3,931

3,862

4,468

4,288

3,899

2,886

2,695

2,753

3,851

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sales of securities available-for-sale

0

-

-

-

-

94,291

94,291

94,291

38,754

6,536

33,054

33,054

76,627

75,689

0

0

0

-

-

-

-

108,603

108,603

50,011

73,425

26,944

41,174

65,251

41,837

40,587

0

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-49

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

220

0

0

0

-

-

-

-

Net change in loans

24,838

-33,810

-30,315

-85,834

-85,571

-38,394

-3,699

54,124

76,679

77,199

111,866

98,672

115,196

139,792

117,347

157,003

119,696

97,898

85,765

99,164

116,342

131,648

133,320

144,637

135,783

97,910

93,315

46,043

48,591

54,042

31,924

28,045

-33,470

-68,155

0

0

0

Changes in Federal Home Loan Bank stock and other investments

2,331

-1,161

20

2,361

4,482

4,483

4,484

2,744

2,714

2,715

2,709

2,109

2,501

2,502

4,258

4,259

1,776

1,788

129

309

61

163

-291

-557

-207

-293

-109

-26

836

803

980

980

890

751

0

0

0

Purchase of company owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

250

0

0

0

-

-

-

-

Purchase of premises and equipment

1,158

203

389

394

190

187

122

191

483

649

771

840

671

480

762

973

953

1,007

730

631

769

817

716

422

283

500

483

522

481

239

364

415

428

349

0

0

0

Proceeds from sale of foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,571

0

0

0

-

-

-

-

850

2,383

2,616

2,703

2,148

1,748

1,740

2,522

3,639

0

0

0

Proceeds from company-owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

406

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

243,018

271,239

62,253

82,546

99,383

77,656

156,038

38,518

-144,226

-237,291

-322,889

-247,525

-173,893

-287,564

-322,234

-218,465

-232,627

-68,504

39,747

-75,009

-71,933

-74,608

-49,140

-123,542

-92,535

-72,829

-49,265

-44,662

-84,717

-90,531

-144,367

-125,216

-88,535

-64,139

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Net change in deposits

-47,864

2,977

-56,309

-61,146

-198,576

-262,085

-151,933

-107,740

92,105

220,849

261,970

300,947

301,351

199,365

256,611

221,524

199,964

269,266

215,078

179,289

161,654

102,165

146,285

78,809

95,105

-193,147

57,504

86,286

86,640

429,940

131,899

104,198

76,927

55,510

0

0

0

Repayment of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40,000

0

0

0

-

-

-

-

Repayment of short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in securities sold under agreement to repurchase

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,000

0

0

0

Net change in short-term borrowings

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,445

0

0

0

Exercise of stock options

2,463

1,626

891

1,231

2,487

2,667

2,515

2,710

1,452

1,368

1,575

975

945

938

761

816

567

315

489

365

349

262

95

81

103

88

0

0

0

-

-

-

-

-

-

-

-

Payment of cash dividends - Series A preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

373

0

0

0

-

-

-

-

Payment of cash dividends

25,264

22,723

20,378

19,912

19,454

18,464

17,524

16,583

15,649

15,238

14,832

14,428

14,028

13,627

13,229

12,396

11,563

10,738

9,324

8,345

7,049

5,758

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-81,653

-28,780

-75,796

-79,827

-215,543

-277,882

-166,942

-121,659

116,981

246,052

287,786

326,613

288,268

183,676

242,999

209,800

188,824

261,699

175,596

139,662

123,307

65,022

141,266

65,137

82,595

-204,394

47,184

71,779

72,260

375,183

76,620

59,162

29,708

43,393

0

0

0

Net (decrease) increase in cash and cash equivalents

208,420

292,802

34,754

52,224

-67,012

-151,654

34,909

-42,225

14,143

50,119

1,728

107,169

144,711

-77,989

-48,546

27,576

-8,641

221,689

238,863

81,850

66,777

9,798

112,177

-36,344

8,130

-260,960

10,388

39,401

8,204

300,693

-44,268

-41,901

-38,803

695

0

0

0

Supplemental disclosures of cash flow information:
Interest paid

10,035

9,935

9,493

8,955

8,275

7,528

6,982

6,630

5,252

5,166

3,799

3,544

3,364

3,214

3,104

2,882

2,681

2,427

2,293

2,184

2,135

2,166

2,098

2,282

2,494

2,685

2,877

3,718

3,846

4,694

4,774

4,432

8,033

7,901

0

0

0

Income taxes paid (net of refunds)

17,881

17,730

17,787

15,066

12,842

12,838

14,196

17,833

17,257

17,256

16,126

19,661

15,158

16,530

12,539

7,999

7,279

6,904

7,530

6,080

4,780

4,280

1,906

1,846

1,496

2,021

3,865

3,735

2,955

2,730

0

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

961

-3,959

1,701

-5,077

3,493

0

0

0

-

-

0

0

Recording of right to use assets in exchange for lease obligations

25,066

9,566

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transfer of loans held-for-sale to loan portfolio

-

-

-

-

-

-

-

-

-

2,391

5,051

5,051

4,536

5,451

0

0

0

-

-

-

-

-

-

-

-

3,770

0

0

0

-

-

-

-

-

-

-

-

Loans transferred to foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

278

49

49

49

1,236

0

0

0

-

-

-

-

33

116

116

116

2,056

4,286

5,467

5,620

4,565

0

0

0