Premier financial bancorp inc (PFBI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities
Net income

24,196

20,168

14,819

12,174

12,446

13,150

13,229

10,323

7,168

9,172

9,118

Adjustments to reconcile net income to net cash from operating activities
Depreciation

2,046

1,722

1,720

1,934

1,695

1,575

1,342

1,445

1,468

1,538

1,135

Provision for loan losses

1,250

2,315

2,499

1,748

326

534

-375

4,260

3,630

3,297

1,052

The aggregate net amount of amortization and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method.

7

1,295

1,586

2,624

462

701

-463

-1,098

-1,351

-2,815

-410

Writedowns (gains on the sale) of other real estate owned, net

-978

450

-874

-689

-1,063

714

-716

-957

394

516

-

Writedowns (gains) on other real estate owned, net

-

-

-

-

-

-

-

-

-

-

561

Stock compensation expense

301

252

217

178

204

248

169

181

106

53

51

Loans originated for sale

-

-

-

-

1,679

6,679

11,053

14,472

15,759

21,836

-28,329

Secondary market loans sold

-

-

-

-

1,941

6,729

11,432

14,653

17,491

21,701

29,068

Secondary market mortgage income

-

-

-

-

38

199

256

311

314

445

-443

Gain on sale of loan

-

-

-

-

-

-

-

2,463

0

0

-

Gain on acquisition of subsidiary

-

-

-

-

-

-

-

-

-

-

3,552

Gain on disposition of securities

-

-

-

4

0

29

1,413

545

18

0

0

Changes in:
Interest receivable

59

-300

181

102

-57

-584

-271

-94

-245

-727

898

Deferred income taxes

-512

-33

-797

223

-621

-3,356

-1,895

-568

-4,099

-2,041

1,327

Other assets

-287

-1,404

1,047

67

48

484

-649

-3,439

1,954

-2,086

-2,983

Interest payable

54

157

29

-44

-113

-83

-106

-223

-187

-237

-556

Other liabilities

-341

-62

-922

-938

-105

-166

446

396

197

-155

-1,851

Net cash from operating activities

29,231

27,134

20,391

17,969

16,832

-

-

-

14,427

14,611

5,086

Cash flows from investing activities
Net cash from operating activities

-

-

-

-

-

18,523

16,483

17,204

-

-

-

Net change on time deposits with other banks

496

1,488

-250

2,141

0

0

-

-

-

-

-

Purchases of securities available for sale

66,684

110,869

57,223

44,835

95,606

36,435

27,230

73,771

122,730

298,137

148,533

Proceeds from maturities and calls of securities available for sale

95,014

65,181

65,794

82,332

66,927

52,043

73,801

69,329

109,165

276,666

149,221

Proceeds from the sale of securities available for sale

-

-

-

47

-

-

-

-

-

-

-

Proceeds from the sale of securities available for sale

-

-

-

-

0

13,319

8,650

0

0

-

0

Purchase of FHLB stock

10

0

0

-

76

0

-

-

-

-

-

Purchases of subsidiaries, net of cash received

-

-

-

-

-

-

-

-

-

-

-12,579

Acquisition of subsidiary, net of cash received

-

-

-

-

-

-40,973

-

-

-

-8,939

0

Purchase of FHLB stock

-

-

-

-

-

-

2

-1,035

373

91

119

Purchase of FHLB stock

-

-

-

-

-

-

0

0

-2,253

0

-202

Redemption of FHLB stock

273

792

15

-

-

-

-

-

-

-

-

Amount of cash inflow from sale of Federal Reserve Bank (FRB) and Federal Home Loan Bank (FHLB) stock.

-

-

-

210

0

1,307

-

-

-

-

-

Acquisition of subsidiary, net of cash acquired (paid)

4,863

-2,591

0

-11,912

0

-

-

-

-

-

-

Purchase of subsidiaries, net of cash received

-

-

-

-

-

-

0

0

-

-

-

Net change in loans

5,241

-13,431

36,792

43,868

-24,552

45,545

35,838

16,103

-26,066

-29,941

-14,148

Purchases of premises and equipment, net

1,589

3,460

1,382

478

912

1,391

3,188

1,042

1,086

1,343

898

Improvements to OREO property

-

-

-

-

29

194

2,897

0

0

-

-

Proceeds from sales of other real estate acquired through foreclosure

2,348

7,778

4,577

1,636

4,672

3,901

3,846

6,105

5,135

4,071

1,602

Net cash from (used in) investing activities

-

-

-

-

-

27,978

17,142

-14,447

-

-

-

Net cash from (used in) investing activities

19,744

-23,068

-25,261

9,097

-472

-

-

-

18,430

20,046

28,202

Cash flows from financing activities
Net change in deposits

-20,118

25,280

-6,735

14,048

-14,863

-33,041

-6,524

5,604

-59,783

-1,822

26,215

Net change in agreements to repurchase securities

-1,634

-1,609

-510

-42

6,114

4,261

-14,783

2,897

-6,432

5,037

-10,184

Repayment of other borrowed funds

2,500

2,500

3,859

2,433

16,376

2,422

2,249

2,081

2,048

7,149

19,583

Repayment of FHLB advances

2,500

19,500

0

1,262

-

-

-

-

-

-

-

Repayment of other FHLB advances

-

-

-

-

0

0

-

10,042

2,564

4,190

212

Net change in short-term Federal Home Loan Bank advances

-

-

-

-

-

-

-

-

-

2,400

-6,450

Redemption of preferred stock

-

-

-

-

-

12,000

0

9,237

0

0

-

Proceeds from other borrowings

-

-

-

-

15,946

0

0

-

-

11,300

2,400

Proceeds from stock option exercises

246

193

317

751

222

731

571

192

0

0

-

Purchase of warrant

-

-

-

-

5,675

0

0

-

-

-

-

Represents the amount of cash payments made in lieu of fractional shares held during the period.

0

13

0

16

0

0

-

-

-

-

-

Proceeds from issuance of preferred stock

-

-

-

-

-

-

-

-

-

-

22,252

Preferred stock dividends paid

-

-

-

-

-

553

600

984

1,390

835

133

Common stock dividends paid

8,786

7,805

6,398

5,933

4,573

4,854

3,524

1,749

0

1,746

2,982

Net cash from financing activities

-

-

-

-

-

-47,878

-27,109

-15,400

-

-

-

Net cash from financing activities

-35,292

-5,954

-17,185

5,113

-19,205

-

-

-

-72,217

2,995

11,323

Net change in cash and cash equivalents

13,683

-1,888

-22,055

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

32,179

-2,845

-1,377

6,516

-12,643

-39,360

37,652

44,611

Supplemental disclosures of cash flow information:
Cash Paid During Year For [Abstract]
Cash paid during period for interest

9,623

5,911

4,473

4,686

4,144

-

-

-

-

-

-

Cash paid during period for interest

-

-

-

-

-

4,419

4,881

6,659

8,514

10,016

10,700

Income taxes paid, net

6,943

4,578

8,555

7,123

5,946

4,302

5,410

2,549

2,459

1,660

-

Non-cash transactions
Loans transferred to real estate acquired through foreclosure

1,509

1,386

12,681

1,950

5,778

1,677

1,823

5,786

8,134

5,553

-

Refers to amount transferred from accumulated other comprehensive income to retained earnings related to changes in future income tax rates pursuant to Tax Cuts and Jobs Act of 2017.

0

0

367

0

0

-

-

-

-

-

-

Refers to the amount transferred from retained earnings to common stock related to stock dividend in noncash transactions.

-

-

-

17,638

-

0

-

-

-

-

-

Fair value of assets acquired from Bankshares

-

-

-

-

-

0

-

-

-

-

-363,057

Common stock issued to acquire First Bank

-

-

-

-

0

0

-

-

-

-

-10,290

Operating right-of-use asset resulting from lease liability

7,152

0

0

-

-

-

-

-

-

-

-

Gain on bargain purchase

-

-

-

-

-

-

-

-

-

-

-3,552

Liabilities assumed of Bankshares

-

-

-

-

-

0

-

-

-

-

349,215

Fair value of assets acquired via branch purchase

-

-

-

-

-

-

-

-

-

71,825

-

Cash paid for branches

-

-

-

-

-

-

-

-

-

2,432

-

Liabilities of branches assumed

-

-

-

-

-

-

-

-

-

74,257

-

Cash paid during the year for income taxes

-

-

-

-

-

-

-

-

-

-

1,630

Loans transferred to real estate acquired through foreclosure

-

-

-

-

-

-

-

-

-

-

7,182

A bank headquartered in Charleston, West Virginia.
Common stock issued to acquire First Bank

0

22,358

0

0

-

-

-

-

-

-

-

A company headquartered in Ronceverte, West Virginia acquired by Premier financial Bancorp.
Common stock issued

-

-

-

22,041

-

-

-

-

-

-

-