NATIONAL BANK HOLDINGS CORPORATION NBHC Cash Flow

National bank holdings corporation (NBHC)

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	Dec'12	Sep'12	Jun'12	Mar'12
Cash flows from operating activities:
Net income
15,824	19,519	21,642	20,282	18,922	17,235	18,239	17,513	8,464	-10,119	7,231	9,209	8,258	9,991	8,314	4,504	251	3,340	1,636	-1,341	1,246	2,279	3,337	2,129	1,431	1,000	947	2,898	2,082	3,003	-7,891	2,702	1,643
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses
6,159	-	-	-	1,534	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	-	-	-	2,476	807	1,873	41	3,272	3,880	4,025	1,795	1,282	5,293	6,457	10,619	5,423	3,710	1,858	1,453	1,265	1,515	1,660	1,769	772	437	1,670	1,417	2,670	5,263	12,226	7,836
Depreciation and amortization
3,597	3,926	3,736	4,849	2,527	2,614	2,869	3,056	2,983	3,027	3,232	3,289	3,341	3,339	3,470	3,575	3,819	3,889	3,859	3,878	3,876	3,786	3,776	4,188	4,180	4,135	4,015	3,871	3,812	3,354	3,350	3,098	2,498
Current income tax receivable
3,902	-1,543	2,805	-2,275	2,968	2,225	1,542	4,712	-4,233	690	-1,052	1,178	444	866	-3,085	3,648	2,747	-5,112	-2,328	478	-366	-9,557	6,854	7,493	6,017	-9,249	-14,970	10,460	-6,739	-	-15,765	3,102	-3,102
Deferred income taxes
2,503	1,362	2,291	3,211	1,929	3,821	2,173	3,707	-609	15,064	2,485	1,365	-1,734	-7,022	3,136	1,069	2,641	2,344	-3,474	-3,115	4	2,669	-7,215	-6,646	-4,584	9,230	-403	-6,871	-3,574	-	-7,456	11,875	-14,840
Net excess tax expense (benefit) on stock-based compensation
-28	-2	26	1,383	753	15	110	790	371	783	49	548	2,845	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discount accretion, net of premium amortization on securities
-501	-3,530	531	1,394	-442	-5,203	1,539	-68	821	-628	-629	-621	-703	-715	-21,276	20,372	-1,448	-895	-1,066	-1,114	-1,049	67,709	-1,294	-1,214	-1,320	-1,593	3,582	-4,808	-5,466	-4,349	-10,735	-3,335	960
Accretion Expense
-	-	-	-	-	-	-	-	-	-	-	-	6,191	-	-	-9,232	10,766	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Securities, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	674
Loan accretion
4,142	3,299	4,018	4,080	4,193	4,923	5,791	5,893	6,508	-	-	-	-	-	-	-	-	-	-	-	-13,204	-	-14,958	-16,287	-17,733	-18,541	-20,696	-21,917	-24,293	-26,537	-27,362	-103,552	37,417
Gain on sale of mortgages, net
13,483	9,836	14,036	9,774	6,276	4,900	7,260	8,046	6,803	438	668	594	454	630	819	958	474	389	628	546	400	326	264	202	208	233	345	474	306	328	283	294	309
Origination of loans held for sale, net of repayments
337,155	370,971	456,165	314,306	176,105	197,323	282,456	306,487	219,584	19,626	27,054	24,354	14,925	34,650	35,154	25,803	18,790	20,486	30,623	30,503	17,634	14,868	12,443	10,673	6,506	10,637	15,076	20,296	12,382	-	-	-	-
Proceeds from sales of loans held for sale
341,019	468,972	370,545	279,030	171,330	221,487	320,228	254,087	235,104	26,316	21,900	21,525	32,194	29,342	24,736	23,039	23,981	18,611	30,042	25,947	18,245	15,478	11,490	8,874	9,742	10,115	16,098	20,507	11,227	9,468	13,368	13,489	12,987
Bank-owned life insurance income
590	437	431	424	421	430	463	446	452	454	475	472	470	483	497	486	395	397	421	402	394	-	-	0	0	-	-	-	-	-	-	-	-
Amortization of indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,873	5,798	7,283	7,670	47,560	-6,252	-5,959	-7,608	30,803	-4,208	-2,966	-4,669	-4,655	-2,832	-2,646	-3,687
Loss (gain) on the sale of other real estate owned, net
-39	0	6,500	300	400	100	500	-22	-78	1,896	498	1,644	112	263	2,077	1,611	432	434	239	632	1,471	10,440	1,658	441	587	-431	3,452	2,127	1,805	2,771	2,752	3,191	849
Impairment of mortgage servicing rights
509	-	-	-	54	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment on other real estate owned
-	210	188	88	596	10	156	26	38	0	720	0	46	36	158	35	69	781	42	287	470	314	909	58	822	1,207	1,994	2,622	4,526	11,577	1,425	2,124	5,089
Loss on sale of fixed assets
-	-	-	-	-	-	-	-	-	-	7	-43	3	-	-	-	-	-	-	-	-	0	0	5	118	-	-	-	-	-	-	-	-
Stock-based compensation
1,227	1,544	1,440	1,510	375	1,176	1,238	1,173	833	877	902	967	902	800	901	862	929	835	1,004	845	665	822	1,147	883	720	858	1,336	1,226	1,441	2,156	6,664	2,075	2,183
Operating lease payments
1,396	1,085	1,407	1,396	1,406	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition-related costs
-	-	-	-	-	-	-	-	-7,957	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in due to FDIC, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33,839	517	382	-4,198	6,891	937	874	-8,573	11,304	-667	234	-260	-72,171	1,489	34,304	-323
Change in other assets
29,095	-6,149	9,885	-2,377	-662	-16,017	3,423	10,618	5,630	-5,486	4,246	-5,227	3,280	-2,171	682	579	5,631	-6,980	605	-521	2,025	-3,919	271	-982	1,451	794	-5,269	3,939	-409	-2,521	-883	6,016	-4,755
Change in other liabilities
36,795	-13,184	22,882	21,764	-15,437	-1,526	5,056	-3,075	14,294	2,208	3,370	2,971	3,576	-27,177	5,108	15,603	-2,964	8,678	11,002	-2,382	-9,419	-12,897	15,889	12,991	-9,355	5,804	5,333	-552	-3,443	-8,602	10,544	-19,788	-6,561
Net cash provided by (used in) operating activities
26,242	103,080	-59,834	2,850	-3,620	50,504	53,894	-41,333	10,509	19,417	4,092	13,385	21,245	-31,122	638	19,496	7,052	-22,403	7,597	-8,389	-14,433	-16,891	16,591	13,051	-15,506	12,726	-15,637	-4,914	-17,753	-20,875	-23,719	-54,296	-31,947
Cash flows from investing activities:
Purchase of FHLB stock
197	3,339	2,004	7,170	4,248	6,886	156	6,471	2,950	-	-	-	-	3,685	1,359	0	500	-	477	-478	239	-	-	-	0	-	-	-	-	-	-	-	-
Proceeds from redemption of FHLB stock
-	865	5,453	1,018	7,229	-349	3,251	470	8,690	88	3,104	1,801	1,884	619	1,290	0	5,761	0	259	0	234	-	14	65	554	62	50	1,172	49	-	-	-	-
Proceeds from maturities of investment securities held-to-maturity
15,351	16,858	15,938	14,935	13,217	13,573	16,182	16,632	15,526	16,022	18,867	17,866	18,350	22,158	24,776	22,502	21,940	22,806	26,466	29,775	25,636	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of investment securities available-for-sale
48,830	49,151	48,691	49,297	48,328	47,304	56,025	57,596	55,152	53,010	56,058	56,113	59,155	68,035	72,949	71,150	63,314	72,112	81,617	84,360	76,182	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of investment securities available-for-sale
-	-	-	-	-	120	315	0	33,202	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	20,794
Sale of FHLB stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30
Purchase of investment securities held-to-maturity
25,824	-	-	-	-	0	0	0	40,735	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of investment securities available-for-sale
26,485	-	-	-	-	30,356	0	0	42,199	104,191	1,555	0	96,948	0	0	4,212	660	-	-	-	-	-	-	-	-	-96	0	139,622	554,355	128,156	67,312	162,507	773,774
Maturities of investment securities held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,371	24,190	-	42,653	49,739	57,599	63,060	60,434	53,049	107
Maturities of investment securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	81,338	76,532	-	141,168	156,422	158,532	141,087	131,650	99,941	120,546
Net increase in loans
91,384	7,394	64,473	81,950	159,027	179,578	72,844	139,154	-9,135	40,881	30,009	155,575	87,543	31,382	92,929	146,105	169	62,779	118,959	100,011	53,049	-21,473	72,516	111,934	90,125	144,700	-14,822	-52,596	-50,634	-90,817	-58,892	-146,532	-158,055
Purchases of premises and equipment, net
2,161	3,461	2,464	3,591	1,688	1,244	1,571	1,557	1,905	3,848	1,188	-202	783	638	390	-3,623	1,905	1,458	1,560	1,531	532	691	547	306	41	732	1,749	2,198	2,122	5,083	2,163	1,890	31,941
Proceeds from sales of loans
-	-	-	-	-	-	-	-	-	4,274	0	13,544	20,269	0	0	2,556	6,675	5,502	0	0	11,702	0	2,504	681	422	-	-	1,445	19,755	-	-	-	-
Proceeds from sales of other real estate owned
228	604	7,676	2,570	1,262	24,652	1,165	493	36	4,775	1,866	2,959	755	7,878	5,062	2,533	632	1,306	3,241	3,817	7,202	28,863	11,349	12,164	4,143	6,555	17,033	11,946	25,726	45,755	21,335	23,175	12,676
Net cash activity from acquisition
-	-	-	-	-	0	0	0	68,984	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease (increase) in FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,155	-738	-2,644	3,558	-2,591	744	-691	162	-9,827	9,582	7,765	55,287	-4,454	40,107	21,636	6,079
Net cash used in investing activities
-81,642	-4,657	11,190	-24,891	-94,927	-136,109	2,367	-71,211	102,936	-70,332	46,970	-70,294	-84,861	63,475	9,399	-53,333	95,088	104,976	42,907	-36,234	70,694	144,337	19,591	17,078	15,837	86,286	110,641	-88,519	-188,895	203,076	242,973	173,713	-487,428
Cash flows from financing activities:
Net increase in deposits
4,724	3,272	45,863	-26,450	178,826	-78,411	-17,432	-77,846	-160	33,217	88,887	-107,602	99,294	43,642	24,062	-38,736	-996	-33,960	-17,995	-69,973	66,274	-31,270	-58,875	-9,763	27,787	-113,194	-36,224	-73,074	-139,918	-81,005	-247,825	-242,600	-290,904
Net increase in repurchase agreements and other short-term borrowings
-33,232	-	-	887	-6,504	10,352	-17,746	-67,746	10,724	37,649	-26,399	27,516	-314	-21,296	-12,839	39,794	-50,171	-32,965	-17,826	-96,847	150,609	23,606	24,514	-5,633	-8,482	-16,924	-6,408	69,769	-575	7,493	-11,316	-16,542	26,453
Advances from FHLB
607,000	277,955	387,343	493,108	319,041	-	-	-	-	0	10,000	160,331	92,798	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB repayments
473,169	364,177	365,860	449,115	392,280	158,301	169,228	337,562	85,605	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB payoffs
-	-	-	-	-	-	-	-	-	-	-	107,996	54,683	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of stock under purchase and equity compensation plans
457	150	-305	4,738	1,646	-1,367	-238	1,860	517	1,270	-128	1,516	5,737	5,879	-163	497	-12	1,100	272	-423	3	959	0	-147	-236	-	-	0	0	-	-	-	-
Proceeds from exercise of stock options
6	8	393	166	2,221	-1,476	339	4,353	4,360	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax expense on stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4	0	-	-	-	-	-	-	-	-
Payment of dividends
6,260	6,260	5,945	5,916	5,409	5,251	4,324	4,308	2,741	2,503	2,423	2,427	2,048	2,104	1,352	1,432	1,512	1,532	1,530	1,778	1,871	1,979	2,105	2,185	2,238	2,300	2,622	2,601	2,616	-	-	-	-
Repurchase of common stock
19,476	-	-	-	-	-	-	-	-	-	-	-	-	6,263	54,392	10,977	21,941	0	102,710	34,193	38,145	219,454	-54,116	-37,161	-8,807	167,326	-3,262	-17,098	-230	-	-	-	-
Net cash provided by financing activities
79,136	-105,152	74,404	7,942	94,249	83,702	-82,719	-36,409	-73,939	67,119	60,271	-31,694	129,310	-4,594	-32,999	-11,848	-74,608	-69,637	-139,789	-203,040	176,864	10,874	-90,582	-54,885	8,024	-258,796	-48,516	-23,004	-143,339	-77,720	-259,141	-259,142	-264,451
Increase (decrease) in cash, cash equivalents and restricted cash
23,736	-6,729	25,760	-14,099	-4,298	-1,903	-26,458	-148,953	39,506	16,204	111,333	-88,603	65,694	27,759	-22,962	-45,685	27,532	12,936	-89,285	-247,663	233,125	138,320	-54,400	-24,756	8,355	-159,784	46,488	-116,437	-349,987	104,481	-39,887	-139,725	-783,826
Supplemental disclosure of cash flow information during the period:
Cash paid for interest
8,086	9,408	8,126	10,385	6,539	7,861	4,543	6,587	3,723	5,875	3,104	5,588	2,745	4,818	2,252	4,445	2,639	3,838	2,685	3,816	3,412	3,695	3,414	3,270	3,484	3,953	4,500	4,335	4,906	5,584	8,380	9,151	12,897
Net tax payment (refund)
54	3,724	818	4,815	-86	144	-244	-2,409	164	-160	0	40	-7	4,345	-35	-2,109	-8	-14,887	4,273	3,267	-73	-8,608	1,031	96	-638	-60	16,379	1,312	8,580	16,424	8,787	2,982	17,459
Supplemental schedule of non-cash activities:
Loans transferred to other real estate owned at fair value
18	217	2,200	0	288	21	537	24,255	127	1,040	121	61	578	2,113	1,101	3,180	474	3,433	223	422	498	1,972	1,042	1,241	236	7,565	7,029	8,336	17,043	14,703	11,641	15,201	40,899
FDIC submissions transferred to other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-149	-1,153	-1,342	-5,854	1,168	-1,016	29	-6,855	3,411	11,917	9,132	26,071	35,067	41,714	32,361
Available For Sale Investment Securities Transferred To Investment Securities Held To Maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	754,063
Decrease in loans purchased but not settled
-4,450	4,846	11,505	-1,005	-7,974	-10,007	-1,158	5,031	-15,068	18,564	4,617	-14,204	16,141	-16,410	10,870	0	667	-	-	-	-	-19,868	13,887	15,622	397	-	-	-	-	-	-	-	-
Loans transferred from loans held for sale to loans
376	1,007	-920	1,447	198	0	-1,402	1,562	878	1,330	677	-96	3,825	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease right-of-use assets obtained
-	0	0	0	30,474	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock reissued for acquisition
-	-	-	-	-	0	0	0	110,213	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-