NATIONAL BANK HOLDINGS CORPORATION NBHC Cash Flow

National bank holdings corporation (NBHC)

CashFlow / TTM

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
77,267	80,365	78,081	74,678	71,909	61,451	34,097	23,089	14,785	14,579	34,689	35,772	31,067	23,060	16,409	9,731	3,886	4,881	3,820	5,521	8,991	9,176	7,897	5,507	6,276	6,927	8,930	92	-104	-543	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	-	-	-	5,197	5,993	9,066	11,218	12,972	10,982	12,395	14,827	23,651	27,792	26,209	21,610	12,444	8,286	6,091	5,893	6,209	5,716	4,638	4,648	4,296	6,194	11,020	21,576	27,995	0	0	0
Depreciation and amortization
16,108	15,038	13,726	12,859	11,066	11,522	11,935	12,298	12,531	12,889	13,201	13,439	13,725	14,203	14,753	15,142	15,445	15,502	15,399	15,316	15,626	15,930	16,279	16,518	16,201	15,833	15,052	14,387	13,614	12,300	0	0	0
Current income tax receivable
2,889	1,955	5,723	4,460	11,447	4,246	2,711	117	-3,417	1,260	1,436	-597	1,873	4,176	-1,802	-1,045	-4,215	-7,328	-11,773	-2,591	4,424	10,807	11,115	-10,709	-7,742	-20,498	0	0	0	-	0	0	0
Deferred income taxes
9,367	8,793	11,252	11,134	11,630	9,092	20,335	20,647	18,305	17,180	-4,906	-4,255	-4,551	-176	9,190	2,580	-1,604	-4,241	-3,916	-7,657	-11,188	-15,776	-9,215	-2,403	-2,628	-1,618	0	0	0	-	0	0	0
Net excess tax expense (benefit) on stock-based compensation
1,379	2,160	2,177	2,261	1,668	1,286	2,054	1,993	1,751	4,225	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discount accretion, net of premium amortization on securities
-2,106	-2,047	-3,720	-2,712	-4,174	-2,911	1,664	-504	-1,057	-2,581	-2,668	-23,315	-2,322	-3,067	-3,247	16,963	-4,523	-4,124	64,480	64,252	64,152	63,881	-5,421	-545	-4,139	-8,285	-11,041	-25,358	-23,885	-17,459	0	0	0
Accretion Expense
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Securities, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	674	0	0	0
Loan accretion
15,539	15,590	17,214	18,987	20,800	23,115	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-67,519	-73,257	-78,887	-85,447	-93,443	-100,109	-181,744	-120,034	0	0	0
Gain on sale of mortgages, net
47,129	39,922	34,986	28,210	26,482	27,009	22,547	15,955	8,503	2,154	2,346	2,497	2,861	2,881	2,640	2,449	2,037	1,963	1,900	1,536	1,192	1,000	907	988	1,260	1,358	1,453	1,391	1,211	1,214	0	0	0
Origination of loans held for sale, net of repayments
1,478,597	1,317,547	1,143,899	970,190	962,371	1,005,850	828,153	572,751	290,618	85,959	100,983	109,083	110,532	114,397	100,233	95,702	100,402	99,246	93,628	75,448	55,618	44,490	40,259	42,892	52,515	58,391	0	0	0	-	-	-	-
Proceeds from sales of loans held for sale
1,459,566	1,289,877	1,042,392	992,075	967,132	1,030,906	835,735	537,407	304,845	101,935	104,961	107,797	109,311	101,098	90,367	95,673	98,581	92,845	89,712	71,160	54,087	45,584	40,221	44,829	56,462	57,947	57,300	54,570	47,552	49,312	0	0	0
Bank-owned life insurance income
1,882	1,713	1,706	1,738	1,760	1,791	1,815	1,827	1,853	1,871	1,900	1,922	1,936	1,861	1,775	1,699	1,615	1,614	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-
Amortization of indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,878	68,311	56,261	43,019	27,741	10,984	13,028	16,021	18,960	-16,498	-15,122	-14,802	-13,820	0	0	0
Loss (gain) on the sale of other real estate owned, net
6,761	7,200	7,300	1,300	978	500	2,296	2,294	3,960	4,150	2,517	4,096	4,063	4,383	4,554	2,716	1,737	2,776	12,782	14,201	14,010	13,126	2,255	4,049	5,735	6,953	10,155	9,455	10,519	9,563	0	0	0
Impairment of mortgage servicing rights
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment on other real estate owned
-	1,082	882	850	788	230	220	784	758	766	802	240	275	298	1,043	927	1,179	1,580	1,113	1,980	1,751	2,103	2,996	4,081	6,645	10,349	20,719	20,150	19,652	20,215	0	0	0
Loss on sale of fixed assets
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	123	0	0	0	-	-	-	-	-	-	-	-
Stock-based compensation
5,721	4,869	4,501	4,299	3,962	4,420	4,121	3,785	3,579	3,648	3,571	3,570	3,465	3,492	3,527	3,630	3,613	3,349	3,336	3,479	3,517	3,572	3,608	3,797	4,140	4,861	6,159	11,487	12,336	13,078	0	0	0
Operating lease payments
5,284	5,294	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition-related costs
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in due to FDIC, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-37,138	3,592	4,012	4,504	129	4,542	2,938	2,298	10,611	-72,864	-70,708	-36,638	-36,701	0	0	0
Change in other assets
30,454	697	-9,171	-15,633	-2,638	3,654	14,185	15,008	-837	-3,187	128	-3,436	2,370	4,721	-88	-165	-1,265	-4,871	-1,810	-2,144	-2,605	-3,179	1,534	-4,006	915	-945	-4,260	126	2,203	-2,143	0	0	0
Change in other liabilities
68,257	16,025	27,683	9,857	-14,982	14,749	18,483	16,797	22,843	12,125	-17,260	-15,522	-2,890	-9,430	26,425	32,319	14,334	7,879	-13,696	-8,809	6,564	6,628	25,329	14,773	1,230	7,142	-7,264	-2,053	-21,289	-24,407	0	0	0
Net cash provided by (used in) operating activities
72,338	42,476	-10,100	103,628	59,445	73,574	42,487	-7,315	47,403	58,139	7,600	4,146	10,257	-3,936	4,783	11,742	-16,143	-37,628	-32,116	-23,122	-1,682	-2,755	26,862	-5,366	-23,331	-25,578	-59,179	-67,261	-116,643	-130,837	0	0	0
Cash flows from investing activities:
Purchase of FHLB stock
12,710	16,761	20,308	18,460	17,761	16,463	0	0	0	-	-	-	-	5,544	0	0	0	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Proceeds from redemption of FHLB stock
-	14,565	13,351	11,149	10,601	12,062	12,499	12,352	13,683	6,877	7,408	5,594	3,793	7,670	7,051	6,020	6,020	493	0	0	0	-	695	731	1,838	1,333	0	0	0	-	-	-	-
Proceeds from maturities of investment securities held-to-maturity
63,082	60,948	57,663	57,907	59,604	61,913	64,362	67,047	68,281	71,105	77,241	83,150	87,786	91,376	92,024	93,714	100,987	104,683	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of investment securities available-for-sale
195,969	195,467	193,620	200,954	209,253	216,077	221,783	221,816	220,333	224,336	239,361	256,252	271,289	275,448	279,525	288,193	301,403	314,271	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of investment securities available-for-sale
-	-	-	-	-	33,637	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,794	0	0	0
Sale of FHLB stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchase of investment securities held-to-maturity
0	-	-	-	-	40,735	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of investment securities available-for-sale
0	-	-	-	-	72,555	146,390	147,945	147,945	202,694	98,503	96,948	101,160	4,872	0	0	0	-	-	-	-	-	-	-	-	693,881	822,133	889,445	912,330	1,131,749	0	0	0
Maturities of investment securities held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	213,051	230,832	234,142	176,650	0	0	0
Maturities of investment securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	597,209	587,691	531,210	493,224	0	0	0
Net increase in loans
245,201	312,844	485,028	493,399	550,603	382,441	243,744	200,909	217,330	314,008	304,509	367,429	357,959	270,585	301,982	328,012	281,918	334,798	250,546	204,103	216,026	253,102	419,275	331,937	167,407	26,648	-208,869	-252,939	-346,875	-454,296	0	0	0
Purchases of premises and equipment, net
11,677	11,204	8,987	8,094	6,060	6,277	8,881	8,498	6,739	5,617	2,407	1,609	-1,812	-690	130	1,300	6,454	5,081	4,314	3,301	2,076	1,585	1,626	2,828	4,720	6,801	11,152	11,566	11,258	41,077	0	0	0
Proceeds from sales of loans
-	-	-	-	-	-	-	-	-	38,087	33,813	33,813	22,825	9,231	14,733	14,733	12,177	17,204	11,702	14,206	14,887	3,607	0	0	0	-	-	0	0	-	-	-	-
Proceeds from sales of other real estate owned
11,078	12,112	36,160	29,649	27,572	26,346	6,469	7,170	9,636	10,355	13,458	16,654	16,228	16,105	9,533	7,712	8,996	15,566	43,123	51,231	59,578	56,519	34,211	39,895	39,677	61,260	100,460	104,762	115,991	102,941	0	0	0
Net cash activity from acquisition
-	-	-	-	-	68,984	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease (increase) in FDIC indemnification asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,331	-2,415	-933	1,020	-2,376	-9,612	-774	7,682	62,807	68,180	98,705	112,576	63,368	0	0	0
Net cash used in investing activities
-100,000	-113,285	-244,737	-253,560	-299,880	-102,017	-36,240	8,363	9,280	-178,517	-44,710	-82,281	-65,320	114,629	156,130	189,638	206,737	182,343	221,704	198,388	251,700	196,843	138,792	229,842	124,245	-80,487	36,303	168,635	430,867	132,334	0	0	0
Cash flows from financing activities:
Net increase in deposits
27,409	201,511	119,828	56,533	5,137	-173,849	-62,221	44,098	14,342	113,796	124,221	59,396	128,262	27,972	-49,630	-91,687	-122,924	-55,654	-52,964	-93,844	-33,634	-72,121	-154,045	-131,394	-194,705	-362,410	-330,221	-541,822	-711,348	-862,334	0	0	0
Net increase in repurchase agreements and other short-term borrowings
0	-	-	-13,011	-81,644	-64,416	-37,119	-45,772	49,490	38,452	-20,493	-6,933	5,345	-44,512	-56,181	-61,168	-197,809	2,971	59,542	101,882	193,096	34,005	-6,525	-37,447	37,955	45,862	70,279	65,371	-20,940	6,088	0	0	0
Advances from FHLB
1,765,406	1,477,447	0	0	0	-	-	-	-	263,129	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB repayments
1,652,321	1,571,432	1,365,556	1,168,924	1,057,371	750,696	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB payoffs
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of stock under purchase and equity compensation plans
5,040	6,229	4,712	4,779	1,901	772	3,409	3,519	3,175	8,395	13,004	12,969	11,950	6,201	1,422	1,857	937	952	811	539	815	576	0	0	0	-	-	0	0	-	-	-	-
Proceeds from exercise of stock options
573	2,788	1,304	1,250	5,437	7,576	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax expense on stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Payment of dividends
24,381	23,530	22,521	20,900	19,292	16,624	13,876	11,975	10,094	9,401	9,002	7,931	6,936	6,400	5,828	6,006	6,352	6,711	7,158	7,733	8,140	8,507	8,828	9,345	9,761	10,139	0	0	0	-	-	-	-
Repurchase of common stock
0	-	-	-	-	-	-	-	-	-	-	-	-	93,573	87,310	135,628	158,844	175,048	394,502	237,676	166,322	119,370	67,242	118,096	138,159	146,736	0	0	0	-	-	-	-
Net cash provided by financing activities
56,330	71,443	260,297	103,174	58,823	-109,365	-125,948	17,042	21,757	225,006	153,293	60,023	79,869	-124,049	-189,092	-295,882	-487,074	-235,602	-155,091	-105,884	42,271	-126,569	-396,239	-354,173	-322,292	-473,655	-292,579	-503,204	-739,342	-860,454	0	0	0
Increase (decrease) in cash, cash equivalents and restricted cash
28,668	634	5,460	-46,758	-181,612	-137,808	-119,701	18,090	78,440	104,628	116,183	-18,112	24,806	-13,356	-28,179	-94,502	-296,480	-90,887	34,497	69,382	292,289	67,519	-230,585	-129,697	-221,378	-579,720	-315,455	-401,830	-425,118	-858,957	0	0	0
Supplemental disclosure of cash flow information during the period:
Cash paid for interest
36,005	34,458	32,911	29,328	25,530	22,714	20,728	19,289	18,290	17,312	16,255	15,403	14,260	14,154	13,174	13,607	12,978	13,751	13,608	14,337	13,791	13,863	14,121	15,207	16,272	17,694	19,325	23,205	28,021	36,012	0	0	0
Net tax payment (refund)
9,411	9,271	5,691	4,629	-2,595	-2,345	-2,649	-2,405	44	-127	4,378	4,343	2,194	2,193	-17,039	-12,731	-7,355	-7,420	-1,141	-4,383	-7,554	-8,119	429	15,777	16,993	26,211	42,695	35,103	36,773	45,652	0	0	0
Supplemental schedule of non-cash activities:
Loans transferred to other real estate owned at fair value
2,435	2,705	2,509	846	25,101	24,940	25,959	25,543	1,349	1,800	2,873	3,853	6,972	6,868	8,188	7,310	4,552	4,576	3,115	3,934	4,753	4,491	10,084	16,071	23,166	39,973	47,111	51,723	58,588	82,444	0	0	0
FDIC submissions transferred to other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8,498	-7,181	-7,044	-5,673	-6,674	-4,431	8,502	17,605	50,531	82,187	111,984	135,213	0	0	0
Available For Sale Investment Securities Transferred To Investment Securities Held To Maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	754,063	0	0	0
Decrease in loans purchased but not settled
10,896	7,372	-7,481	-20,144	-14,108	-21,202	7,369	13,144	-6,091	25,118	-9,856	-3,603	10,601	-4,873	0	0	0	-	-	-	-	10,038	0	0	0	-	-	-	-	-	-	-	-
Loans transferred from loans held for sale to loans
1,910	1,732	725	243	358	1,038	2,368	4,447	2,789	5,736	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease right-of-use assets obtained
-	30,474	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock reissued for acquisition
-	-	-	-	-	110,213	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-