Patriot national bancorp inc (PNBK)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash Flows from Operating Activities:
Net income (loss)

-2,817

3,196

4,147

1,930

2,143

15,709

-7,289

-536

-15,459

-15,398

-23,879

Adjustments to reconcile net income to net cash provided by operating activities:
Restructuring charges and asset disposals

-

-

-

-

-

-

-163

-64

951

-

-

Amortization of investment premiums, net

-7

-15

-86

-131

-188

-238

-187

-311

-409

-401

-157

Amortization and accretion of purchase loan premiums and discounts

-997

-523

-650

-219

-218

883

-20

-11

11

110

26

Amortization of debt issuance costs

112

97

82

9

7

6

-

-

-

-

-

Amortization of core deposit intangible

75

50

-

-

-

-

-

-

15

15

16

Amortization of servicing assets of sold SBA loans

16

-

-

-

-

-

-

-

-

-

-

Provision (credit) for loan losses

4,971

1,303

-857

2,464

250

0

970

-2,379

7,464

7,714

-

Depreciation and amortization

1,600

1,486

1,269

-

-

-

-

-

-

-

-

Provision for loan losses

-

-

-

-

-

-

-

-

-

-

13,089

Loss on sales of available-for-sale securities

-

-

6

-

0

-

-

-

-

-

434

Net gain on sale of investment securities

-

-

-

-

-

-

-

911

1,109

-

-

Gain on sale of loans

-

-

-

-

-

-

283

420

79

-

-

Originations of mortgage loans held for sale

-

-

-

-

-

-

35,647

5,206

-

-

-

Proceeds from sales of mortgage loans held for sale

-

-

-

-

-

-

37,429

3,763

-

-

-

Loss on disposal of fixed assets

-

-

-

-

-133

0

-

-

-4

-

-

Loss on disposal of fixed assets

-

-

-

-

-

-

-

-16

-

-

-

Payment of fees to directors in common stock

-

-

-

-

-

-

-

-

-

-

-55

Earnings on cash surrender value of life insurance

-

-

-

-

-

439

523

517

636

546

724

Liquidation of cash surrender value of life insurance

-

-

-

-

-

-22,464

-

-

-

-

-

Gain on redemption of investment security

-

-

-

-

-

-

-

-

-

-

16

Depreciation and amortization

-

-

-

1,209

1,039

1,085

1,215

1,216

1,272

1,498

1,660

Impairment write-down on other real estate owned

-

-

-

-

-

-

-

-

165

1,084

-

Proceeds from sale of branch assets and deposits

-

-

-

-

-

-

127

-

-

-

-

Gain on sale of branch assets and deposits

-

-

-

-

-

-

51

-

-

-

-

Share-based compensation

214

220

146

161

461

275

131

306

0

-

-

(Increase) decrease in deferred income taxes

-1,136

-265

2,258

1,111

1,083

-15,018

-318

-

-

-

8,624

Originations of SBA loans held for sale

26,947

2,254

-

-

-

-

-

-

-

-

-

Proceeds from sale of SBA loans held for sale

12,556

2,096

-

-

-

-

-

-

-

-

-

Gains on sale of SBA loans held for sale, net

891

155

-

-

-

-

-

-

-

-

-

Net loss on sale of other real estate owned

-94

-

-9

-

-

-

114

185

193

-164

-

Net (gain) loss on sale or acquisition of other real estate owned

-

-

-

11

0

-

-

-

-

-

-

Gain on acquisition of OREO

-

-

-

-

-

-4

-

-

-

-

-

(Increase) decrease in net deferred loan costs

-

-

-

-

-

-

132

-184

-

-

-

Changes in assets and liabilities:
(Increase) in net deferred loan costs

-

-

-

-

-

-

-

-

472

288

843

Decrease (increase) in accrued interest and dividends receivable

-163

270

770

716

92

352

-328

-559

-59

-724

-1,320

Increase in other assets

1,180

981

2

657

-18

-481

-737

160

-6,276

-799

8,018

Change in contingent consideration

-

-

-

-1,325

-

-

-

-

-

-

-

Increase in accrued expenses and other liabilities

251

211

278

-

225

-1,353

-1,637

858

344

830

-832

Net cash (used) provided by operating activities

-11,915

5,272

7,290

4,525

5,673

-

-

-

-976

-2,891

-9,798

Cash Flows from Investing Activities:
Proceeds from maturity or sales on available-for-sale securities

6,500

37,032

16,929

-

-

-

-

-

-

-

-

Principal repayments on available-for-sale securities

3,893

2,267

2,361

-

-

-

-

-

-

-

-

Proceeds from maturity or sales on available-for-sale securities

-

-

-

7,870

-

-

-

-

-

-

-

Proceeds from sales on available-for-sale securities

-

-

-

-

6,322

-

-

-

26,349

-

19,852

Principal repayments on available-for-sale securities

-

-

-

-

0

-

-

-

-

-

-

Proceeds from redemptions of available for sale securities

-

-

-

-

-

-

-

-

-

15,000

12,000

Principal repayments on available-for-sale securities

-

-

-

-

-

4,515

2,313

-

-12,029

-8,793

-7,326

Purchases of available-for-sale securities

18,072

18,562

20,576

3,000

2,000

0

-

-24,516

65,459

15,162

34,265

Net cash provided by operating activities

-

-

-

-

-

22,485

-4,695

-3,154

-

-

-

Purchases of other investments

-

513

512

-

-

-

-

-

-

3,500

-

Proceeds from maturity of other investments

513

512

-

-

-

-

-

-

-

-

-

Purchases of Federal Reserve Bank stock

31

364

393

34

17

614

-286

23

-

-

-

Redemptions of Federal Home Loan Bank stock

-

-

-

-

-

2,485

-

-

-

-

-

Redemptions (purchases) of Federal Home Loan Bank stock

-451

-961

280

-961

-58

-

-201

-165

-

-

-

Decrease (increase) in originated loans receivable, net

18,728

5,572

-63,139

-

-

-

-

-

-

-

-

Increase in originated loans receivable, net

-

-

-

49,373

7,611

-

-

-

-

-

-

Purchases of Federal Reserve Bank stock

-

-

-

-

-

-

-

-

1,174

-

1

Proceeds from repurchase of excess stock by Federal Reserve Bank

-

-

-

-

-

-

-

-

659

647

75

Decrease in originated loans receivable, net

-

-

-

-

-

-

10,655

99,738

55,089

-

-

Decrease (increase) in net originations of loans receivable

-

-

-

-

-

26,058

-25,462

60,646

-

-

-

Purchases of loans receivable

54,604

47,074

73,022

52,005

0

26,895

-

-

-

-

-

Capital improvements of other real estate owned

-

-

-

-

-

-

80

111

20

266

-

Purchases of premises and equipment

552

1,142

3,060

3,529

6,236

8,381

8,279

616

-

173

308

Purchase of other real estate owned

-

-

-

-

-

264

-

-

-

-

-

Net decrease in loans

-

-

-

-

-

-

-

-

34,363

-93,035

-112,017

Purchase of other real estate owned

-

-

-

-

-

-

-

-

481

-

-

Proceeds from sale of other real estate owned

897

-

842

-

0

260

5,068

3,347

19,579

11,786

-

Refund of (payment for) escrow deposit related to acquisition activity

500

-500

-

-

-

-

-

-

-

-

-

Net cash used in business combination

-

5,071

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-59,922

35,626

66,370

-

-

-

Purchases of premises and equipment, net

-

-

-

-

-

-

-

-

685

-

-

Net cash used in investing activities

-41,777

-26,882

-140,850

-99,110

-9,484

-

-

-

11,523

110,161

116,696

Cash Flows from Financing Activities:
Increase in deposits, net

26,254

59,658

108,115

84,659

4,014

-

-

-

-17,785

-33,040

69,100

Increase (decrease) in deposits, net

-

-

-

-

-

12,829

-52,541

-47,627

-84,113

-81,484

-92,587

Decrease in deposits held for sale

-

-

-

-

-

-

14,538

-

-

-

-

Repayments of FHLB borrowings, net

-

-29,800

-18,000

6,000

12,000

63,000

7,000

-

-

-

-

Proceeds from issuance of subordinated note, net

-

9,709

-

-

-

-

-

-

-

-

-

Proceeds from issuance of senior notes, net

-

-

-

11,708

0

0

-

-

-

-

-

Decrease in repurchase agreements

-

-

-

-

-

-

7,000

-

-

-

-

Principal repayments of note payable

195

192

189

185

61

0

-

-

-

-

-

Decrease in advances from borrowers for taxes and insurance

755

97

153

309

0

0

-

-

-

-

-

Purchases of treasury stock

-

-

2

1,017

0

0

-

-

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-

-

75,829

-67,079

-47,627

-

-

-

Net decrease in cash and cash equivalents

-

-

-

-

-

38,392

-

-

-

-

-

Net proceeds from issuance of common stock in acquisition

-

-

-

-

-

-

-

-

-

46,233

-

Other

-

-

-

-

-

-

-

-

-

-

-0

Dividends paid on common stock

155

154

77

-

0

-

-

-

-

-

213

Net cash provided by financing activities

26,659

39,318

90,000

101,474

15,953

-

-

-

-101,899

-68,291

-23,701

Net (decrease) increase in cash and cash equivalents

-27,033

17,708

-43,560

6,889

12,142

-

-36,148

15,589

-91,352

38,978

83,196

Supplemental Disclosures of Cash Flow Information:
Cash paid for interest

17,740

11,246

6,424

3

2,325

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

4,191

4,706

7,127

8,290

13,250

24,348

Cash paid for income taxes

22

1,243

515

360

3

3

3

10

10

2

1,216

Non-cash transactions:
Purchase of premises and equipment

181

415

808

1,018

2,000

0

-

-

-

-

-

Increase in notes payable

-

-

-

-

2,000

0

-

-

-

-

-

Increase in accrued expense and other liabilities

181

415

808

1,018

0

0

-

-

-

-

-

Purchases of available-for-sale securities

578

-

-

-

-

-

-

-

-

-

-

Increase in debt issuance costs

-

-

-

82

0

0

-

-

-

-

-

Increase in accrued expense and other liabilities

-578

-

-

-82

0

0

-

-

-

-

-

Unrealized holding gain (loss) on available for sale securities arising during the period

-

-

-

-

-

-

-

-834

-1,875

-

-

Transfers of loans receivable to other real estate owned

446

1,954

-

840

0

0

3,698

6,112

-

-

-

Recognition of operating lease right-of-use assets

3,160

-

-

-

-

-

-

-

-

-

-

Recognition of operating lease liabilities

3,264

-

-

-

-

-

-

-

-

-

-

Accrued rent payable - adoption ASC 842

93

-

-

-

-

-

-

-

-

-

-

Capitalized servicing assets

180

-

-

-

-

-

-

-

-

-

-

Business Combination Non-Cash Disclosures:
Assets acquired in business combination (net of cash received)

-

60,173

-

-

-

-

-

-

-

-

-

Liabilities acquired in business combination

-

56,123

-

-

-

-

-

-

-

-

-

Contingent liability assumed in business combination

621

707

-

-

-

-

-

-

-

-

-

Transfer of other real estate owned to premises and equipment

-

-

-

-

-

-

-

950

-

-

-

Reduction in deposits held for sale

-

-

-

-

-

-

10,167

24,705

-

-

-

Reduction in branch assets held for sale

-

-

-

-

-

-

12

88

-

-

-

Unrealized holding gain on available for sale securities arising during the period

-

-

-

-

-

-

-

-

-

767

-

Transfer of loans to other real estate owned

-

-

-

-

-

-

-

-

5,403

10,103

19,073

Transfer of loans to held for sale

-

-

-

-

-

-

-

-

250

-

-