Independent bank corp /mi/ (IBCP)
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
Net income

4,810

13,879

12,445

10,730

9,381

9,936

11,925

8,817

9,161

1,711

6,859

5,931

5,974

5,855

6,373

6,438

4,100

5,570

5,047

5,619

3,781

3,902

4,929

6,052

3,138

4,809

3,505

63,388

5,807

11,915

6,446

4,333

3,504

-8,714

-4,122

37

-7,401

Adjustments to Reconcile Net Income to Net Cash From Operating Activities
The cash inflow associated with the sale of equity securities.

0

0

0

0

560

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of loans held for sale

241,856

219,980

199,604

135,457

87,496

112,213

140,845

118,034

92,607

121,123

123,905

107,973

81,681

102,218

92,772

72,657

57,181

61,471

72,443

84,281

70,657

68,804

63,718

48,152

48,232

69,236

97,083

117,628

131,495

148,567

132,217

130,165

116,422

120,457

83,238

64,720

122,838

Disbursements for loans held for sale

227,765

196,034

218,402

150,940

82,230

113,615

128,510

130,204

84,748

110,072

122,852

112,709

80,777

97,317

95,511

73,825

55,689

62,162

65,575

82,083

75,788

68,140

61,866

55,146

41,398

60,397

87,606

112,395

117,925

148,803

126,198

129,651

108,082

133,040

83,614

68,884

91,156

Net increase in other liabilities held for sale

-

-

-

-

-

-

-

-

-

-

-

-

717

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for loan losses

6,721

-221

-271

652

664

591

-53

650

315

393

582

583

-359

130

-175

-734

-530

-1,677

-244

-134

-659

-1,087

-632

-1,845

428

-835

-355

-2,107

-691

449

251

1,056

5,131

6,917

6,171

4,156

10,702

Deferred income tax expense (benefit)

1,925

128

308

515

-2,039

-2,322

-2,454

-2,479

-2,039

-8,587

167

-5,138

-2,451

-2,619

-1,474

-3,157

-2,468

-2,002

-2,735

-2,033

-2,442

-1,700

-2,344

-2,572

-2,302

-1,257

741

58,066

0

-

-

-

-

-

-

-

-

Deferred loan fees and costs

358

-186

1,175

1,836

111

363

1,224

1,819

638

571

1,586

2,071

931

277

647

771

216

45

259

737

193

-93

320

521

5

-45

-58

219

-133

-109

97

307

97

21

214

186

28

Net depreciation, amortization of intangible assets and premiums and accretion of discounts on securities, loans and interest bearing deposits - time

1,795

1,632

1,521

1,427

1,479

1,473

1,368

1,373

1,819

1,878

1,960

1,840

1,279

1,385

1,324

1,201

1,306

1,208

1,117

1,049

1,179

1,158

837

646

373

-29

-433

-695

-1,040

-1,186

-1,181

-1,038

-1,313

-1,998

-2,861

-2,706

-3,736

Net gains on mortgage loans

8,840

6,388

5,677

4,302

3,611

2,026

2,745

3,255

2,571

2,876

2,971

3,344

2,571

2,839

3,556

2,529

1,642

1,713

1,812

1,784

2,139

1,489

1,490

1,505

1,144

1,607

1,570

3,208

3,637

5,282

4,602

3,579

3,860

3,509

2,025

1,793

1,935

Net gains on securities

253

3

0

0

304

209

93

9

-173

198

69

-34

27

261

-45

185

162

-77

45

-33

85

-5

168

54

112

190

14

107

84

72

301

169

684

-22

-57

115

213

Securities impairment recognized in earnings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

70

85

177

614

4

0

142

Net gains on other real estate and repossessed assets

-

-

-

-

-

-

-

-

-

-

-

-

-11

-

-

-

-

7

-5

139

39

-

285

38

87

-146

-119

-320

-652

-943

-291

-633

-987

-1,710

-1,931

-777

-1,406

Vehicle service contract counterparty contingencies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30

30

29

-

28

73

68

1,434

149

3,127

127

551

281

326

471

6,046

1,345

1,311

2,346

Share based compensation

547

506

460

468

420

438

445

441

407

406

426

484

432

420

375

415

410

324

381

399

373

301

310

326

255

236

575

191

236

297

268

259

45

446

307

302

153

Net gain on sale of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-

-

-

0

-

-

-

-

(Increase) decrease in accrued income and other assets

-5,095

4,424

-963

-4,995

8,107

-12,035

13,548

-2,588

5,965

-9,040

11,121

355

1,272

3,378

2,640

34

1,130

1,124

910

-34

-517

-3,455

6,545

-687

176

825

3,638

-9,637

-2,573

-3,014

8,727

-4,222

934

-10,158

-2,368

-2,525

-1,821

Increase in accrued expenses and other liabilities

599

-975

2,963

7,670

2,455

2,170

-3,534

7,315

-5,711

3,168

-1,685

7,188

-3,229

-591

-1,758

3,521

-613

-692

210

1,491

-2,385

-1,339

-2,759

1,398

-4,513

-2,561

-2,175

405

823

2,649

-305

2,686

1,576

-2,568

-1,615

2,820

-188

Total Adjustments

17,472

14,041

-20,322

-6,924

750

14,357

-4,595

-2,407

-2,273

30,272

-13,578

4,033

-2,595

4,979

-8,297

2,873

1,383

-2,275

6,731

4,473

-6,091

2,901

-6,819

-5,255

4,223

5,910

1,452

-45,462

12,661

6,612

-17,944

4,688

9,839

5,435

5,092

2,927

42,152

Net Cash From Operating Activities

22,282

27,920

-7,877

3,806

10,131

24,293

7,330

6,410

6,888

31,983

-6,719

9,964

3,379

10,834

-1,924

9,311

5,483

3,295

11,778

10,092

-2,310

6,803

-1,890

797

7,361

10,719

4,957

17,926

18,468

18,527

-11,498

9,021

13,343

-3,279

970

2,964

34,751

Cash Flow Used in Investing Activities
Proceeds from the sale of securities available for sale

21,743

24,411

2,069

0

42,236

17,291

0

9,168

22,277

8,474

1,004

1,678

6,152

7,652

1,089

12,971

42,391

251

0

0

11,786

7,003

2,504

5,126

0

0

0

1,140

1,800

0

18,177

9,793

9,206

0

0

57,923

12,399

Proceeds from maturities, prepayments and calls of securities available for sale

42,744

43,421

33,938

44,046

32,533

35,352

37,144

54,064

34,067

29,770

44,319

49,559

50,075

52,926

128,690

8,028

13,385

141,582

9,411

9,262

6,785

9,596

9,045

24,549

15,030

3,891

2,225

930

22,820

16,322

6,140

60,183

545

1,675

2,013

0

295

Principal payments received on securities available for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,966

37,246

-

35,746

33,484

25,103

22,087

23,509

21,039

17,852

14,936

14,069

8,210

6,487

5,551

6,994

6,959

4,261

3,758

1,652

2,644

1,228

Purchases of securities available for sale

103,901

114,434

41,599

9,946

71,693

32,426

24,013

23,417

23,637

16,504

14,256

24,151

45,673

84,086

54,141

85,439

74,259

39,070

83,715

34,374

77,534

40,220

48,599

44,571

91,556

65,086

81,524

82,191

103,259

344

13,120

28,655

150,607

69,134

20,146

21,012

62,894

Proceeds from the maturity of interest bearing deposits - time

350

150

0

0

100

0

1,886

842

1,000

750

1,850

-1

251

1,640

1,323

1,612

1,678

1,646

1,661

704

2,211

2,669

1,457

1,503

1,090

2,142

0

0

0

-

-

-

-

-

-

-

-

Purchases of interest bearing deposits - time

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

495

3,855

-1

246

-

750

0

0

3,841

7,931

15,474

-6,986

0

0

0

0

-

-

-

-

Purchase of Federal Reserve Bank stock

-

-

-

-

-

-

-

-

-

-

-

-

-

36

278

0

129

186

140

0

132

163

151

0

0

-

-

-

-

-

-

-

-

-

-

-

-

The net cash inflow or outflow for the (increase) decrease in the beginning and end of period of portfolio loan balances originated net of principal payments.

22,432

2,160

60,860

86,603

65,653

72,246

90,719

112,754

68,611

80,770

123,922

141,164

61,003

33,799

9,437

40,956

23,280

17,936

16,965

26,272

13,170

13,748

19,735

16,933

-13,221

-2,937

-5,317

1,791

-26,729

-15,804

-21,928

-18,927

-34,293

-46,122

-42,067

-44,725

-63,644

Proceeds from the sale of portfolio loans

2,395

0

9,886

0

40,630

81

11,117

0

16,460

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in payment plan receivables and other assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

1,438

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from bank-owned life insurance

945

0

470

0

0

0

0

0

474

0

0

0

523

0

1,493

742

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash paid for branch sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-3,292

339,995

0

0

0

-

-

-

-

The cash inflow associated with the collection of vehicle service contract counterparty receivables.

-

-

-

-

-

-

-

-

-

-

-

-

-

115

213

241

4,217

837

240

15

0

19

39

71

256

400

5,791

391

169

0

7,017

186

210

175

767

127

544

Proceeds from the sale of other real estate and repossessed assets

328

328

630

641

167

749

888

281

608

1,592

563

3,310

238

397

836

1,661

1,357

560

1,104

2,667

1,848

6,036

9,565

1,675

1,195

1,887

1,838

6,310

3,511

5,269

5,150

3,614

5,298

4,397

4,157

5,565

4,519

Proceeds from the sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3

1,543

63

352

0

-

-

-

-

Capital expenditures

760

2,349

1,045

1,031

511

1,050

779

1,112

921

1,650

688

1,224

680

1,742

727

379

611

1,429

1,027

923

975

1,638

1,054

642

964

2,431

2,059

1,762

2,119

1,108

576

782

2,827

655

570

797

757

Net Cash Used in Investing Activities

-58,588

-50,047

-56,511

-52,893

-22,191

-51,636

-66,510

-46,938

-18,283

-57,784

-91,130

-77,109

-51,555

-56,517

-20,151

-64,182

1,995

-41,379

-64,769

-10,041

-44,324

-6,113

-23,949

-8,178

-43,876

-47,036

-62,277

-64,202

-47,553

-296,958

51,773

70,911

-99,621

-13,261

29,940

91,800

18,978

CASH FLOW FROM FINANCING ACTIVITIES
Net increase in total deposits

46,837

-15,585

73,427

44,660

20,797

114,785

18,127

62,406

29,867

56,773

97,542

-16,840

37,340

18,759

78,668

-26,414

68,743

25,001

108,198

-39,056

76,171

28,407

-12,176

-30,671

53,936

35,488

33,229

-34,704

71,256

-2,408

-636

1,285

98,187

7,484

13,956

-158,282

-28,871

Net increase in other borrowings

6,296

6,647

17,805

548

2

-25,503

21,996

3,660

-6,753

3,751

3,004

-1

0

-5

6

0

-1

0

0

1

-2

-13,650

-150

13,804

-5

6

-2

-5

5

-3

-6

3

6

-4

5

-2

-6

Proceeds from Federal Home Loan Bank advances

160,000

54,000

30,000

27,000

0

70,000

158,000

1,004,000

40,000

161,000

219,000

242,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,000

12,000

12,000

3,000

4,000

Payments of Federal Home Loan Bank advances

153,000

36,000

25,000

12,143

0

98,500

140,910

1,009,287

60,000

186,000

231,679

165,908

0

-

-

-

-

-

-

-

-

208

236

133

4,240

100

219

222

0

92

203

15,113

12,354

14,335

17,188

8,104

29,011

Net decrease in vehicle service contract counterparty payables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-355

-7

335

-

-300

-673

-328

-1,410

-793

-151

-1,282

-689

1,296

305

180

-3,301

-4,663

929

1,929

Dividends paid

4,477

4,047

4,049

4,212

4,246

3,609

3,623

3,617

3,206

2,560

2,134

2,133

2,133

2,125

1,698

1,701

1,750

1,778

1,358

1,378

1,382

1,377

1,377

1,375

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

11

2

0

0

282

65

55

134

13

15

0

32

25

21

5

24

32

9

23

64

16

31

29

26

11

-79

97,188

3

954

861

60

497

0

0

0

489

846

Repurchase of common stock

13,784

0

502

23,252

2,530

12,681

0

0

0

-

-

-

-

0

1,344

0

15,510

4,473

5,357

2,766

902

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Share based compensation withholding obligation

590

3

13

0

866

140

6

433

888

43

49

60

427

0

0

561

66

0

1,025

0

66

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash From Financing Activities

41,293

5,014

91,668

32,601

13,439

44,417

53,639

56,863

-967

32,936

85,684

57,090

34,805

14,561

75,361

-28,808

51,448

18,670

99,871

-43,286

74,170

7,838

-14,210

-19,022

49,374

24,453

47,890

-34,979

70,933

-2,331

511

-13,023

98,019

1,844

4,110

-161,970

-51,113

Net Increase in Cash and Cash Equivalents

4,987

-17,113

27,280

-16,486

1,379

17,074

-5,541

16,335

-12,362

7,135

-12,165

-10,055

-13,371

-31,122

53,286

-83,679

58,926

-19,414

46,880

-43,235

27,536

8,528

-40,049

-26,403

12,859

-11,864

-9,430

-81,255

41,848

-280,762

40,786

66,909

11,741

-14,696

35,020

-67,206

2,616

Cash Paid During the Period For [Abstract]
Interest

5,489

6,512

6,997

6,935

6,253

5,569

4,623

3,889

2,656

2,923

2,472

2,146

1,622

1,605

1,653

1,663

1,495

1,467

1,424

1,401

1,477

1,915

1,791

1,838

1,821

2,061

10,236

1,807

1,810

2,405

2,733

2,880

3,034

3,254

4,114

5,555

5,806

Income taxes

0

3,600

3,477

2,457

0

0

0

120

0

982

489

359

140

126

77

240

120

66

138

36

55

100

111

4

1

1

-34

70

6

94

12

55

131

33

0

6

20

Operating leases

476

509

565

564

563

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transfers to other real estate and repossessed assets

66

341

481

1,095

325

550

319

319

322

346

375

512

502

564

516

402

873

3,851

489

1,337

1,017

-

534

1,757

827

3,678

804

781

1,669

5,166

3,116

2,833

3,161

6,120

2,509

6,437

4,025

Transfer of payment plan receivables to vehicle service contract counterparty receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

103

191

772

321

89

21

-

-192

166

131

-203

577

339

79

244

376

481

368

-365

1,229

1,698

6,312

Purchase of securities available for sale not yet settled.

10,497

-3,075

2,430

-855

1,500

-1,000

1,000

-3,220

3,220

-765

-2,601

-1,680

6,046

-5,858

5,098

-18,987

21,329

-7,717

7,717

-3,154

3,154

-

-

-

0

330

605

646

2,565

0

0

-10,817

10,817

-

-

-

0

Securitization of certain mortgage loans with Freddie Mac .

26,325

35,280

0

0

29,790

10,869

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right of use assets obtained in exchange for lease obligations

116

2,139

64

0

7,703

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-