Investors Bancorp, Inc. ISBC Cash Flow

Investors bancorp, inc. (ISBC)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent
39,512	48,730	51,972	46,624	48,158	33,330	54,224	57,097	57,925	-4,754	45,845	39,633	46,020	52,464	49,851	45,141	44,669	44,402	48,794	46,362	41,947	43,077	39,040	15,186	34,418	27,507	29,281	28,076	27,167
Adjustments to reconcile net income to net cash provided by operating activities:
ESOP and stock-based compensation expense
5,176	5,512	7,634	6,335	6,003	6,004	6,171	7,358	5,012	7,218	6,503	6,795	6,555	8,366	6,836	6,732	5,698	5,861	5,932	1,781	1,347	1,409	1,419	14,189	1,685	1,667	1,726	1,568	1,472
Amortization of premiums and accretion of discounts on securities, net
-2,204	-1,989	-3,309	-2,131	-1,822	-2,016	-2,880	-2,861	-2,971	-3,135	-3,311	-3,128	-5,503	-3,330	-3,737	-3,432	-3,203	-3,148	-3,845	-3,544	-3,406	-3,293	-3,349	-1,810	-1,721	-1,686	-2,104	-2,790	-3,155
Amortization of premiums and accretion of fees and costs on loans, net
-316	-251	-496	-920	-2,063	-1,274	-1,085	-2,086	-2,126	-1,258	-648	-1,358	-1,242	-1,317	-1,702	-865	-624	-4,090	-3,288	-1,744	-1,000	-1,756	-2,100	-2,130	4,192	5,358	-1,361	4,213	2,307
Amortization of other intangible assets
286	300	428	393	399	460	494	507	513	573	608	620	626	687	707	747	740	803	839	851	857	918	953	964	971	495	530	542	548
Amortization of debt modification costs
591	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for Loan and Lease Losses
31,226	1,500	-2,500	-3,000	3,000	3,500	2,000	4,000	2,500	4,500	1,750	6,000	4,000	4,750	5,000	5,000	5,000	5,000	5,000	7,000	9,000	11,500	9,000	8,000	9,000	9,250	13,750	13,750	13,750
Depreciation and amortization of office properties and equipment
5,279	5,425	4,819	4,689	4,667	3,487	4,558	4,486	4,569	4,730	4,387	4,199	4,084	4,468	4,075	3,901	3,756	3,911	3,809	3,410	2,800	3,728	3,667	3,040	2,716	2,502	2,063	2,039	1,936
Debt and Equity Securities, Gain (Loss)
202	-13	30	-5,617	64	-32,802	97	1,147	-46	0	0	48	1,227	0	72	1,640	1,388	19	933	42	42	877	30	108	531	66	15	7	684
Mortgage loans originated for sale
90,738	109,476	82,565	50,176	27,556	21,279	24,938	14,037	5,271	13,379	43,400	42,148	41,244	79,323	79,010	57,503	29,956	51,629	55,186	71,975	59,818	39,361	47,967	36,820	25,951	45,130	60,848	132,260	141,568
Proceeds from mortgage loan sales
85,802	83,391	97,625	41,398	25,226	22,090	27,027	9,395	9,690	15,087	44,254	40,817	75,511	66,408	66,119	52,512	34,039	53,059	412,368	67,235	57,974	40,267	54,837	62,224	29,419	46,757	74,168	128,249	156,799
Gain on sales of mortgage loans, net
1,579	711	1,650	806	423	615	410	296	245	-83	794	796	877	1,144	1,379	1,127	504	950	2,044	1,221	1,043	788	806	1,054	184	770	361	2,002	3,074
Gains (Losses) on Sales of Other Real Estate
740	282	358	281	224	573	13	184	153	-280	446	251	174	163	35	131	-233	490	831	238	72	76	269	333	131	763	226	532	-70
Income on bank owned life insurance
1,396	-	-	-	1,577	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on bargain purchase of acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,482	0	0	0	0
Income on bank owned life insurance
-	-	-	-	-	-	-	1,543	1,286	916	935	1,166	725	1,156	1,006	1,001	1,260	987	949	975	1,037	1,054	1,633	1,034	931	716	694	731	757
Amortization of operating lease right-of-use assets
4,830	-	4,868	4,821	3,180	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease (increase) in accrued interest receivable
-862	-4,638	936	598	4,916	-782	4,339	-256	1,345	-348	3,626	655	2,953	-79	1,557	813	5,115	-2,616	3,362	-159	2,709	1,525	504	1,574	3,497	-1,783	1,178	150	-1,041
Deferred tax (benefit) expense
-829	43,103	-893	-223	3,637	22,659	-3,586	-2,181	-1,379	103,100	-6,217	-529	3,654	11,243	-7,873	-3,152	11,422	-3,238	8,134	-9,732	1,656	-7,892	-2,009	-10,044	10,159	-8,510	-7,297	-4,478	-533
Increase in other assets
47,339	3,291	20,703	7,024	11,152	38,429	-13,588	-5,622	3,866	-10,972	1,393	-3,718	-6,543	-2,126	271	-2,959	1,335	1,650	-4,865	3,851	-4,881	3,397	214	-10,312	2,276	-20,119	26,463	1,737	-1,340
Net tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,043	-1,043	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in other liabilities
-100,282	-11,132	-18,657	-17,142	-31,565	-20,846	5,085	-662	15,994	-57,790	18,112	-13,835	14,971	-12,208	-5,900	30,602	-22,356	16,163	-98,108	27,946	8,667	-10,357	3,852	372	47,396	-52,979	51,651	-3,555	-8,647
Total adjustments
-	-	-	-	-	9,287	25,739	12,349	25,624	76,704	21,466	4,491	73,005	6,136	-12,331	38,610	2,596	27,508	280,091	22,148	24,867	-5,968	21,545	57,814	72,276	-18,340	47,549	7,699	27,155
Net cash (used in) provided by operating activities
-67,653	73,769	40,035	30,298	16,552	42,617	79,963	69,446	83,549	71,950	67,311	44,124	119,025	58,600	37,520	83,751	47,265	71,910	328,885	68,510	66,814	37,109	60,585	73,000	106,694	9,167	76,830	35,775	54,322
Cash flows from investing activities:
Purchases of loans receivable
60,000	77,287	133,347	125,154	91,265	150,701	178,585	98,556	86,198	195,183	158,727	84,531	102,457	48,734	57,394	26,015	9,419	9,773	165,009	2,593	21,248	42,130	42,322	47,728	101,676	261,197	303,684	286,592	202,922
Net payoffs (originations) of loans receivable
-450,712	-71,498	-225,666	159,420	36,517	512,772	16,954	90,756	83,095	-44,313	-22,863	281,515	592,766	460,319	604,435	473,540	257,211	521,177	513,983	452,077	502,771	689,126	397,106	311,238	253,159	334,609	267,129	189,335	-13,024
Gain on disposition of loans receivable
267	-	-	-	10	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on disposition of leased equipment
266	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposition of loans receivable
12,896	79,017	122,648	25,221	636	11,030	68	367	12	346	48,031	410	115	2,815	23	7,560	0	21,283	94	28,385	176	705	50	208	1,462	63,622	97,923	9,030	14,093
Gain on disposition of loans receivable
-	-	-	-	-	-	-	367	12	346	-68	410	115	140	22	551	-67	375	94	1,883	176	705	50	208	1,462	676	1,865	0	0
Net proceeds from sale of other real estate owned
4,510	681	3,063	1,446	1,308	3,038	202	1,327	1,620	523	1,778	1,563	887	1,626	181	1,024	2,190	1,536	3,583	1,104	881	860	2,729	3,123	902	3,349	1,700	2,748	3,036
Proceeds from principal repayments/calls/maturities of debt securities available for sale
167,284	187,654	141,978	93,764	69,023	88,530	118,497	91,632	85,522	85,876	90,683	81,623	79,867	86,608	81,560	73,011	61,590	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of debt securities available for sale
-	-	-	-	-	-	-	-	-	0	0	54,761	47,359	-122	122	24,698	33,059	0	0	-122	122	50,929	0	0	164	108	0	0	0
Proceeds from paydowns/maturities on mortgage-backed securities held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49,842	-	53,857	36,645	25,586	22,939	25,572	14,972	16,955
Proceeds from paydowns/maturities on debt securities held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,646	-	-	-	-	-	-	-	-
Proceeds from paydowns/maturities on mortgage-backed securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52,810	-	53,701	39,872	30,993	38,311	58,219	87,848	100,348
Proceeds from sales of mortgage-backed securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	37,682	345,602	0	0	55,971
Proceeds from paydowns/ maturities of US Government and Agency Obligations held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Proceeds from maturity of US Government and Agency Obligations available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3,000	0	0	0	0
Proceeds from sale of equity securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-230	13,641	-	-	-	-
Proceeds from other investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds from principal repayments/calls/maturities of debt securities held to maturity
68,414	41,459	73,080	79,816	57,219	68,107	69,219	78,000	85,983	74,921	79,792	81,985	84,596	85,825	115,737	88,861	78,120	-	-	-	-	183,482	0	-7,848	7,848	3,073	1,851	8,876	6,359
Proceeds from sales of debt securities held to maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-48	0	14,348	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of equity securities
23	24	25	24	23	23	22	23	22	86	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of debt securities available for sale
0	248,120	99,507	603,222	83,282	828,215	199,934	76,822	77,065	143,666	189,415	220,755	231,995	276,115	217,779	163,426	86,963	86,307	88,562	200,736	0	-	-	-	-	-	-	-	-
Purchases of mortgage-backed securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	78,399	-	0	388,798	0	0	30,270	74,434	191,193
Purchases of mortgage-backed securities held to maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	91,982	-	117,610	348,756	331,150	173,098	0	29,723	0
Purchases of debt securities held-to-maturity
33,807	72,332	59,590	88,247	18,501	8,031	19,593	22,327	4,885	137,808	166,471	24,868	35,690	47,589	82,556	43,692	121,320	117,442	124,838	333,398	6,659	919,026	8,240	2,990	0	338	6,222	2,841	328
Proceeds from redemptions of Federal Home Loan Bank stock
58,134	58,613	87,307	86,049	71,276	57,975	56,343	82,842	55,016	5,320	37,361	90,147	47,771	53,370	82,485	45,678	33,609	34,475	29,271	50,055	43,541	8,535	31,092	59,925	44,155	53,979	34,653	22,669	31,780
Purchases of Federal Home Loan Bank stock
60,042	51,836	67,148	121,255	69,991	75,806	51,336	65,333	88,391	4,050	24,781	83,736	61,698	68,686	96,223	64,262	45,412	30,062	25,709	67,285	61,436	18,832	28,822	24,498	44,251	30,382	47,387	52,906	31,191
Purchases of office properties and equipment
2,865	3,752	1,422	1,887	4,700	5,536	3,399	3,664	1,706	7,413	3,885	3,074	5,863	3,252	6,692	6,298	4,846	7,972	4,679	6,361	6,538	7,175	9,397	9,236	5,847	7,985	4,498	5,874	6,187
Death benefit proceeds from bank owned life insurance
-	-	-	-	-	-1	0	0	3,619	0	0	19,649	-9,602	-403	0	-4	-468	0	1	-3,201	-3,205	-3,206	-1,061	0	-1,188	0	0	0	0
Purchases of bank owned life insurance
-	-	-	-	-	0	0	0	125,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for acquisition
-	-	-	-	-	0	0	0	340,183	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash received from MHC for merger
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0
Cash received, net of cash consideration paid for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	17,917	-	-	-	-
Net cash provided by (used in) investing activities
604,680	-21,634	292,674	-413,687	-104,827	-720,765	-154,533	-103,680	-574,785	-276,253	-262,703	-387,955	-760,387	-674,285	-784,993	-522,600	-316,068	-582,006	-730,395	-669,735	-602,986	-944,144	-457,753	-981,840	-553,007	-134,476	-441,137	-495,454	-190,255
Cash flows from financing activities:
Net increase in deposits
324,288	187,583	28,284	14,472	49,730	182,457	480,407	371,080	-811,372	481,228	834,424	666,022	95,190	329,091	525,885	224,470	137,731	722,498	468,329	515,969	184,534	700,728	225,162	-144,792	417,745	735,323	-24,285	-107,696	5,459
Repayments of principal under finance leases
388	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Funds borrowed (repayments of funds borrowed) under other repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,795	100,000	105,000	-55,000
Net increase in borrowed funds
-361,000	131,545	-389,335	336,544	113,906	581,907	-261,213	-366,273	899,727	-	-	-211,460	547,539	342,540	309,540	366,541	264,540	-95,463	-77,568	284,508	395,509	229,510	107,509	-845,490	321	-514,113	292,987	505,986	141,487
Principal applied on affordable housing project advance
39	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in advance payments by borrowers for taxes and insurance
27,842	-25,640	21,838	-22,756	18,386	-1,147	14,556	-12,263	24,437	-21,197	11,512	-13,408	21,550	-16,972	4,646	-8,003	17,459	-35,801	57,879	-6,497	23,247	-17,981	10,949	-4,395	13,406	-7,866	10,381	-3,267	15,199
Dividends paid
29,693	30,228	30,298	30,646	30,991	32,020	26,700	27,100	27,366	27,492	24,418	24,854	24,786	24,684	18,627	19,175	19,805	16,920	17,265	17,396	35,814	14,317	14,284	6,981	6,973	5,615	5,595	5,598	5,596
Exercise of stock options
0	1	154	491	168	419	103	2,507	2,714	1,420	3,961	94	3,666	7,182	20,039	3,261	3,835	3,697	1,462	3,709	1,251	1,523	3,899	586	7,802	5,862	3,720	1,055	0
Purchase of treasury stock
932	335,705	22,486	44,023	73,732	67,172	87,983	41,161	61,859	1,248	33,211	24,570	61	25,923	73,703	123,592	140,192	78,680	89,172	180,361	34,709	-1	0	11,591	1,933	155	0	0	1,376
Net tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	491	1,186	267	366	708	1,540	1,096	1,028	-53	-49	336
Net cash (used in) provided by financing activities
-39,922	-72,620	-391,691	451,688	77,467	664,444	89,170	76,790	26,281	409,375	394,807	391,824	643,098	611,234	767,780	443,502	263,568	497,387	334,156	601,118	534,285	899,830	333,943	974,391	431,464	207,669	377,155	495,431	100,509
Net increase (decrease) in cash and cash equivalents
497,105	-20,485	-58,982	68,299	-10,808	-13,704	14,600	42,556	-464,955	205,072	199,415	47,993	1,736	-4,451	20,307	4,653	-5,235	-12,709	-67,354	-107	-1,887	-7,205	-63,225	65,551	-14,849	82,360	12,848	35,752	-35,424
Non-cash investing activities:
Real estate acquired through foreclosure and other assets repossessed
0	1,278	8,332	1,712	1,245	1,736	2,860	1,514	564	2,683	712	1,470	1,048	1,273	1,218	269	591	762	303	1,359	2,024	3,265	460	2,365	314	690	1,159	25	2,638
Cash paid during the year for:
Interest
83,725	95,690	101,598	97,957	95,114	79,525	73,487	65,491	57,022	54,756	53,929	47,203	41,922	38,388	38,979	37,556	37,884	37,021	35,411	32,859	30,639	30,201	29,339	29,998	28,602	28,499	26,309	28,154	26,565
Income taxes
3,100	-74	22,396	9,903	3,921	11,410	26,825	31,036	0	31,825	30,400	39,723	0	33,251	47,819	4,873	31,184	5,496	34,533	20,663	27,477	26,180	12,766	45,415	1,435	23,995	20,735	32,908	6,280
Initial recognition of operating lease right-of-use assets
0	-	-	-	193,290	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Initial recognition of operating lease liabilities
0	-	-	-	200,694	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability
558	638	567	1,773	18	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions:
Non-cash assets acquired:
Investment securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	50,347	381,950	0	0	0
Loans
-	-	-	-	-	0	0	0	330,747	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	195,062	990,970	0	0	0
Goodwill and other intangible assets, net
-	-	-	-	-	0	0	0	4,975	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	1,853	9,782	0	0	0
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,343	78,527	0	0	0
Total non-cash assets acquired
-	-	-	-	-	0	0	0	335,722	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	268,605	1,461,229	0	0	0
Deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	254,672	1,341,153	0	0	0
Borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,185	92,070	0	0	0
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,184	20,509	0	0	0
Total liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	263,041	1,453,732	0	0	0
Common stock issued for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0