LAKELAND FINANCIAL CORPORATION LKFN Cash Flow

Lakeland financial corporation (LKFN)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Cash flows from operating activities:
Net income
87,047	80,411	57,330	52,084	46,367	43,805	38,839	35,394	30,662	24,543	18,979
Adjustments to reconcile net income to net cash from operating activities:
Depreciation
5,930	5,654	5,119	4,229	3,758	3,412	2,993	2,790	2,279	2,194	2,252
Provision for loan losses
3,235	6,400	3,000	1,150	0	0	-	2,549	13,800	23,947	21,202
Net loss on sale and write down of other real estate owned
0	-16	-12	-17	48	159	10	99	-387	-129	-154
Amortization of intangible assets
-	-	-	-	-	-	47	52	54	54	206
Amortization of loan servicing rights
528	503	599	598	553	526	585	728	594	620	587
Net change in loan servicing rights valuation allowance
-	-	-	-	-	-	-42	-66	86	-24	0
Loans originated for sale, including participations
66,008	49,816	54,188	69,998	64,346	55,107	81,671	119,647	78,425	91,638	121,900
Net gain on sales of loans
2,043	1,713	1,749	2,047	1,650	1,202	2,561	2,805	1,712	2,023	2,085
Proceeds from sale of loans, including participations
64,820	51,715	57,621	68,692	63,601	56,065	91,016	115,163	82,161	88,818	121,969
Net loss on sales of premises and equipment
3	-1	-79	-160	-7	-24	-15	-3	-17	-4	7
Net gain on sales and calls of securities available-for-sale
142	-50	32	66	42	-224	107	-376	-167	4	2
Net amortization of available-for-sale securities
3,947	3,177	3,114	-2,860	-4,464	-5,420	-8,765	-8,209	-3,601	-1,741	-546
Impairment on available for sale securities
-	-	-	-	-	-	-	1,026	286	1,587	225
Stock based compensation expense
4,187	5,608	5,698	4,210	2,535	2,803	1,962	1,344	1,342	739	411
Earnings on life insurance
1,890	1,244	1,768	1,392	1,338	1,393	1,631	955	970	-1,085	-207
Gain on life insurance
841	206	0	0	-	-	-	-	-	-	-
Tax benefit of stock award issuances
529	761	964	669	148	50	146	-112	-138	-371	-191
Net change:
Interest receivable and other assets
4,733	3,301	-787	1,386	398	2,687	-5,860	-5,057	4,468	2,811	14,358
Accrued income receivable
-	-	-	-	-	-	-	-	-	474	1
Accrued expenses payable
-	-	-	-	-	-	-	-	-	-1,891	-2,882
Interest payable and other liabilities
6,534	8,481	2,584	3,757	2,466	2,700	-949	1,585	1,679	1,644	-317
Total adjustments
12,992	24,564	19,912	10,115	9,414	10,576	24,126	15,198	20,740	21,156	5,283
Net cash from operating activities
100,039	104,975	77,242	62,199	55,781	54,381	62,965	50,592	51,402	45,699	24,262
Cash flows from investing activities:
Proceeds from sale of securities available-for-sale
57,114	15,302	40,877	12,095	7,787	13,766	29,995	27,855	73,318	0	0
Proceeds from maturities, calls and principal paydowns of securities available-for-sale
67,818	53,817	61,745	69,343	74,679	57,970	112,624	125,107	84,051	90,458	114,976
Purchases of securities available-for-sale
129,453	126,551	139,252	116,196	91,810	73,361	167,450	161,621	179,296	114,063	129,154
Purchase of life insurance
5,552	423	580	3,390	2,629	3,181	140	20,227	134	1,102	2,147
Proceeds from loans sold to others
-	-	-	-	-	-4,307	0	0	-	-	-
Net increase in total loans
152,119	101,670	347,217	391,145	322,114	235,165	280,717	28,728	150,115	94,702	187,129
Proceeds from sales of land, premises and equipment
14	461	10	28	701	232	1	2	33	0	16
Purchases of land, premises and equipment
7,998	7,968	9,582	9,825	9,167	6,565	7,504	2,899	6,660	3,027	1,318
Proceeds from sales of other real estate
-	-	-	-	1,745	1,319	0	-	-	-	-
Purchase of Federal Home Loan Bank Stock
0	0	2,250	3,854	0	0	-	-	-	-	-
Proceeds from sales of other real estate owned
0	21	199	136	963	1,426	671	1,791	2,070	2,789	391
Proceeds from life insurance
1,483	569	0	360	738	778	0	0	-	-	-319
Net cash from investing activities
-168,693	-166,442	-396,050	-442,448	-339,107	-238,474	-312,520	-58,720	-176,733	-119,647	-204,365
Cash flows from financing activities:
Net increase in total deposits
89,754	35,410	430,743	394,491	310,301	327,052	-35,688	169,060	211,671	349,900	-34,174
Net increase in short-term borrowings
-75,555	174,903	20,607	-19,577	-55,785	-101,469	139,993	-20,107	-32,062	-179,999	151,442
Proceeds from short-term FHLB borrowings
0	0	80,000	-	-	-	-	-	-	-	-
Payments on short term FHLB borrowings
0	80,000	180,000	-	-	-	-	-	-	-	-
Payments on long-term FHLB borrowings
0	30	2	70,002	35,001	2	15,001	2	1	25,001	90,001
Payments on subordinated debentures
30,928	0	0	-	-	-	-	-	-	-	-
Proceeds on long-term borrowings
-	-	-	180,000	70,000	-	-	-	-	-	40,000
Common dividends paid
29,639	25,278	21,396	18,200	15,697	13,555	9,372	13,630	10,045	9,989	7,698
Preferred dividends paid
13	13	13	13	13	13	13	13	13	1,601	2,021
Payments related to equity incentive plans
-2,109	-2,435	-1,736	614	12	-	-	-	-	-	-
Proceeds related to equity incentive plans
-	-	-	-	-	57	903	894	468	-	-
Proceeds from issuance of preferred stock and warrant
-	-	-	-	-	-	-	-	-	-	56,044
Redemption of preferred stock
-	-	-	-	-	-	-	-	-	56,044	0
Proceeds from issuance of common stock
-	-	-	-	-	-	-	-	-	-	57,922
Proceeds from stock option exercise
-	-	-	-	-	-	-	-	-	1,052	796
Purchase of treasury stock
515	463	495	458	455	444	399	421	244	212	231
Sales of treasury stock
118	115	0	0	-	-	-	-	-	-	-
Net cash from financing activities
-48,887	102,209	327,708	466,855	273,362	211,626	80,423	135,781	169,774	78,106	172,079
Net change in cash and cash equivalents
-117,541	40,742	8,900	86,606	-9,964	27,533	-169,132	127,653	44,443	4,158	-8,024
Cash paid during the period for:
Interest
58,964	43,606	29,171	18,567	15,786	14,957	19,137	27,514	29,215	32,494	39,274
Income taxes
21,035	19,033	29,120	21,613	21,566	21,185	17,280	12,728	21,529	18,587	11,700
Supplemental non-cash disclosures:
Loans transferred to other real estate owned
0	316	88	105	853	1,101	491	413	958	5,740	464
Property transferred to held for sale
0	221	0	0	-	249	0	0	-	-	-
Securities purchases payable
-	-	-	1,459	0	0	-	-	-	-	-
Right-of-use assets obtained in exchange for lease liabilities
5,483	0	0	-	-	-	-	-	-	-	-