Middlefield banc corp. (MBCN)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
OPERATING ACTIVITIES
Net income

12,711

12,431

9,455

6,416

6,865

7,180

7,028

6,281

4,130

2,517

1,781

Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses

890

840

1,045

570

315

-

-

-

-

-

-

Investment securities gains on sale, net

194

-

886

-

-

-

-

-

-

-

-

Loss (gain) on equity securities

94

-9

-

-

-

-

-

-

-

-

-

Provision for loan losses

-

-

-

-

-

370

196

2,168

3,085

3,580

2,578

Investment securities gains, net

-

-

-

303

323

248

11

610

-173

11

-14

Depreciation and amortization of premises and equipment, net

1,039

951

1,291

1,026

973

1,049

891

929

731

740

680

Software amortization expense

638

605

414

-

-

-

-

-

-

-

-

Financing lease amortization expense

360

-

-

-

-

-

-

-

-

-

-

Amortization of premium and discount on investment securities, net

-259

-419

-451

-119

-669

-737

-1,100

-930

-451

-6

483

Accretion of deferred loan fees, net

753

868

451

245

603

237

245

188

170

58

68

Amortization of core deposit intangibles

341

352

374

40

40

-

-

-

-

-

-

Stock-based compensation (income) expense, net

644

467

33

29

18

10

-

-

-

-

-

Restricted stock cash portion

44

-

-

-

-

-

-

-

-

-

-

Equity-based compensation

-

-

-

-

-

-

-

32

59

-

61

Origination of loans held for sale

19,845

13,196

10,020

19,736

17,889

6,223

-

1,084

-

-

-

Proceeds from sale of loans

19,655

13,293

10,482

20,628

17,549

6,022

-

1,169

-

-

-

Gain on sale of loans

433

231

291

419

329

-

-

-

-

-

-

Origination of student loans held for sale

-

-

365,674

0

0

-

-

-

-

-

-

Proceeds from sale of student loans

-

-

372,162

0

0

-

-

-

-

-

-

Gain on sale of student loans

-

-

535

0

0

-

-

-

-

-

-

Gain on sale of loans

-

-

-

-

-

237

-

85

-

-

-

Earnings on bank-owned life insurance

431

428

431

403

624

276

280

279

278

273

266

Deferred income tax

327

-241

293

-93

558

-154

423

2

-97

-777

-469

Net gain on other real estate owned

123

55

-30

119

-563

-183

-18

-258

-497

-783

-183

Other real estate owned writedowns

-

-

-

-

-

123

101

-

-

-

-

Increase in accrued interest receivable

-162

345

422

39

292

-40

-28

-71

-25

847

-35

Increase in accrued interest payable

173

166

136

0

80

-49

-128

-153

-145

-115

-394

Decrease in prepaid federal deposit insurance

-

-

-

-

-

-

-513

-486

-707

-727

2,499

Other, net

1,867

-112

3,536

-330

388

831

-263

-355

-22

-538

19

Net cash provided by operating activities

13,459

14,281

13,920

7,801

7,182

7,459

9,897

10,282

9,146

5,734

1,134

INVESTING ACTIVITIES
Proceeds from repayments and maturities

17,687

7,280

14,899

23,201

13,497

13,474

25,411

50,919

69,264

42,815

20,674

Proceeds from sale of securities

12,324

0

-

-

-

-

-

-

-

-

-

Proceeds from sale of securities

-

-

6,474

9,063

15,686

8,383

25,088

32,985

24,127

5,874

816

Purchases

34,961

12,999

3,080

1,744

21,946

12,287

25,815

83,431

80,078

113,860

52,163

Increase in loans, net

-6,932

68,796

119,866

76,199

63,937

36,222

29,829

8,435

32,956

22,992

34,493

Proceeds from the sale of other real estate owned

360

163

2,196

1,607

1,762

832

882

954

866

932

100

Purchase of bank-owned life insurance

-

-

-

0

4,000

0

-

-

-

-

-

Purchase of Federal Home Loan Bank stock

-

-

-

-

-

-

-

-

-

-

14

Purchase of premises and equipment

1,897

2,101

1,201

2,166

507

902

1,834

997

583

327

467

Purchase of restricted stock

169

90

899

317

0

0

-

-

-

-

-

Redemption of restricted stock

-

-

795

0

0

-

-

-

-

-

-

Proceeds from bank-owned life insurance

-

-

-

575

0

0

-

-

-

-

-

Acquisition, net of cash paid

-

-

5,431

0

0

-

-

-

-

-

-

Net cash used in investing activities

276

-76,543

-95,251

-45,980

-59,445

-26,722

-6,097

-8,005

-19,360

-87,558

-65,547

FINANCING ACTIVITIES
Net (decrease) increase in deposits

4,776

137,873

50,216

5,487

38,335

17,276

-24,499

12,373

15,711

78,145

92,286

Increase in short-term borrowings, net

-85,323

15,691

6,348

32,534

21,017

3,999

4,271

-854

-240

832

4,913

Net repayment of other borrowings

426

20,262

10,372

502

685

985

1,361

3,861

2,490

6,544

8,038

Proceeds from other borrowings

-

-

30,000

0

0

-

-

-

-

-

-

Proceeds from common stock issued

-

-

15,164

11,210

0

0

74

2,329

2,210

-

-

Stock options exercised

-

-

-

6

7

50

77

-

-

-

-

Stock options exercised

4

168

184

-

-

-

-

-

-

-

-

Proceeds from dividend reinvestment and purchase plan

372

618

540

519

651

590

736

694

542

510

557

Repurchase of treasury shares

2,229

-

-

0

6,784

0

-

-

-

-

-

Cash dividends

3,685

3,779

3,358

2,318

2,153

2,121

2,097

2,002

1,764

1,637

1,607

Net cash provided by financing activities

-86,555

130,309

88,722

46,924

50,374

18,709

-22,953

8,679

13,969

71,306

88,111

Increase in cash and cash equivalents

-72,820

68,047

7,391

8,745

-1,889

-554

-19,153

10,956

3,755

-10,518

23,698

Cash paid during the year for:
Interest on deposits and borrowings

12,967

9,743

6,511

4,190

3,740

-

-

-

-

-

-

Interest on deposits and borrowings

-

-

-

-

-

4,119

5,378

6,600

8,797

11,060

12,177

Income taxes

2,705

2,125

5,705

1,335

800

2,260

1,620

1,550

615

850

275

Noncash operating transactions:
Operating lease assets added to other, net

1,071

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities added to other, net

1,071

-

-

-

-

-

-

-

-

-

-

Noncash investing transactions:
Transfers from loans to other real estate owned

-

-

-

-

-

-

-

862

1,257

2,110

1,872

Loans to facilitate the sale of other real estate owned

-

-

-

63

0

0

-260

-

-

257

531

Transfers from loans to other real estate owned

122

166

1,179

720

638

1,030

2,113

-

-

-

-

Life insurance proceeds not yet received from insurance company

-

-

-

0

575

0

-

-

-

-

-

Common stock issued in business acquisition

-

-

20,995

0

0

-

-

-

-

-

-

Transfer of equity securities from investment securities available for sale, at fair value

-

625

-

-

-

-

-

-

-

-

-

Finance lease assets added to premises and equipment

4,373

-

-

-

-

-

-

-

-

-

-

Noncash financing transactions:
Finance lease liabilities added to borrowed funds

4,373

-

-

-

-

-

-

-

-

-

-

Loans

-

-

195,388

-

-

-

-

-

-

-

-

Loans held for sale

-

-

5,953

-

-

-

-

-

-

-

-

Premises and equipment, net

-

-

325

-

-

-

-

-

-

-

-

Accrued interest receivable

-

-

440

-

-

-

-

-

-

-

-

Bank-owned life insurance

-

-

1,681

-

-

-

-

-

-

-

-

Core deposit intangible

-

-

3,087

-

-

-

-

-

-

-

-

Other assets

-

-

997

-

-

-

-

-

-

-

-

Goodwill

-

-

10,740

-

-

-

-

-

-

-

-

Total noncash assets acquired

-

-

218,611

-

-

-

-

-

-

-

-

Time deposits

-

-

30,744

-

-

-

-

-

-

-

-

Deposits other than time deposits

-

-

167,300

-

-

-

-

-

-

-

-

Accrued interest payable

-

-

47

-

-

-

-

-

-

-

-

Deferred taxes

-

-

1,134

-

-

-

-

-

-

-

-

Other liabilities

-

-

2,754

-

-

-

-

-

-

-

-

Total liabilities assumed

-

-

201,979

-

-

-

-

-

-

-

-

Liberty stock acquired in business combination

-

-

1,068

-

-

-

-

-

-

-

-

Net noncash assets acquired

-

-

15,564

-

-

-

-

-

-

-

-

Cash and cash equivalents acquired, net

-

-

5,431

0

0

-

-

-

-

-

-