Republic bancorp inc /ky/ (RBCAA)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
OPERATING ACTIVITIES:
Net income

91,699

77,852

45,632

45,903

35,166

28,787

25,423

119,339

94,149

64,753

42,131

Adjustments to reconcile net income to net cash provided by operating activities:
Net accretion (amortization) on investment securities

-120

97

245

503

729

424

394

1,042

-

-

-

Net accretion on loans and amortization of core deposit intangible and operating lease components

-3,655

-3,540

-6,373

-2,573

-2,835

-6,263

-9,479

-3,639

-

-

-

Unrealized (gains) losses on equity securities with readily determinable fair value

382

-122

-

-

-

-

-

-

-

-

-

Depreciation of premises and equipment

9,230

9,347

8,472

7,304

6,610

6,363

5,311

5,372

4,406

10,683

10,542

Amortization of mortgage servicing rights

1,823

1,432

1,504

1,757

1,400

1,330

2,173

3,290

-

-

-

Net realized losses on debt securities

-

-

-136

-

-

-

-

-

-

-

-

Impairment of mortgage servicing rights

-

-

-

-

-

-

-345

142

203

-

-1,255

Amortization of core deposit intangible asset

-

-

-

-

-

-

510

171

-

-

-

Credit loss expense for on-balance sheet exposures

25,758

31,368

27,704

14,493

5,396

2,859

2,983

15,043

17,966

-19,714

-33,975

Net gain on sale of mortgage loans held for sale

8,816

3,839

3,977

6,656

3,915

2,440

6,979

9,698

4,091

5,989

11,332

Origination of mortgage loans held for sale

356,097

176,916

160,091

216,812

160,989

82,457

291,155

252,194

137,843

288,893

556,685

Proceeds from sale of mortgage loans held for sale

354,660

177,545

169,969

214,760

167,209

82,015

305,242

255,670

152,770

285,099

573,870

Net gain on sale of consumer loans held for sale

5,102

5,930

5,647

2,835

978

-

-

-

-

-

-

Origination of consumer loans held for sale

710,640

778,476

663,171

380,066

137,551

-

-

-

-

-

-

Proceeds from sale of consumer loans held for sale

716,336

781,951

661,098

379,907

138,015

-

-

-

-

-

-

Net realized losses (gains) on sales, calls and impairment of securities

-

-

-

-

88

-

-

-

2,006

-

-

Net gain realized on sale of other real estate owned

540

729

831

514

956

883

2,170

416

444

203

20

Gain on call of security available for sale

-

-

-

-

-

-

-

-56

-

-

-

Increase in RAL securitization residual

-

-

-

-

-

-

-

-

-

-

514

Paydown of trading securities

-

-

-

-

-

-

-

-

-

-

-514

Net realized gain on sales, calls and impairment of securities

-

-

-

-

-

-

-

-

-

-221

-5,822

Writedowns of other real estate owned

-

-

155

270

1,257

3,101

1,824

1,719

917

1,127

2,011

Impairment of premises held for sale

256

482

1,175

191

132

-

-

-

-

-

-

Deferred compensation expense - Class A Common Stock

584

645

191

170

223

187

193

227

171

151

152

Stock-based awards expense - Class A Common Stock

1,035

1,001

1,142

1,030

422

458

503

842

277

567

723

Net gain on sale of banking center

7,829

-

-

-

28

-

-

-

2,856

-

-

Net gain on sale of bank premises and equipment

339

-14

-

-

-

-

-

-

-

-

-

Bargain purchase gains on acquisition

-

-

-

-

-

-

1,324

55,438

-

-

-

Increase in cash surrender value of bank owned life insurance

1,550

1,527

1,562

1,516

1,402

1,329

86

-

-

-

-

Net change in other assets and liabilities:
Accrued interest receivable

-1,031

1,860

1,726

659

426

535

-973

-434

262

-577

-3,203

Accrued interest payable

1,718

-16

152

-298

-33

-197

56

-321

-646

-511

-3,704

Other assets

8,677

-2,822

-730

7,227

2,785

2,145

-488

-6,289

-1,665

-7,926

24,309

Other liabilities

-3,138

7,368

2,850

540

5,473

-2,570

-12,278

-1,543

-772

-5,988

-3,046

Net cash provided by operating activities

97,245

119,213

77,777

47,672

50,046

26,705

22,257

86,275

123,604

89,234

72,078

INVESTING ACTIVITIES:
Net cash provided from branch divestiture

6,071

-

-

-

-

-

-

-

-

-

-

Net change in cash for acquisition of Cornerstone Bancorp, Inc.

-

-

-

9,088

-

-

-

-

-

-

-

Purchases of available-for-sale debt securities

445,681

173,875

225,212

419,254

-

-

-

-

-

-

-

Net cash received in FDIC-assisted transactions

-

-

-

-

-

-

-

921,247

-

-

-

Purchases of securities available for sale

-

-

-

-

1,512,809

876,854

194,527

61,717

598,495

611,521

616,047

Purchases of held-to-maturity debt securities

-

4,934

15,595

19,935

-

-

15,000

23,114

500

685

18,525

Proceeds from calls, maturities and paydowns of available-for-sale debt securities

455,823

220,798

158,056

452,247

1,427,696

875,978

195,553

287,773

310,331

524,423

1,057,950

Proceeds from calls, maturities and paydowns of held-to-maturity debt securities

2,667

3,911

4,207

6,112

6,663

5,137

10,294

5,341

5,402

18,669

18,373

Proceeds from sales of available-for-sale debt securities

0

0

20,012

0

-

-

-

-

-

-

-

Proceeds from sales of securities available for sale

-

-

-

-

-

-

-

38,724

161,652

-

-

Net change in outstanding warehouse lines of credit

248,763

-56,877

-59,867

198,710

67,298

169,855

-67,000

175,080

-

-

-

Purchase of non-business-acquisition loans, including premiums paid

-

-

6,160

51,868

117,516

235,824

-

-

-

-

-

Net change in other loans

188,708

216,600

268,839

125,756

100,660

46,383

11,048

19,801

117,864

-55,545

-2,116

Proceeds from sale of mortgage loans transferred to held for sale

-

-

-

72,330

-

-

-

-

-

-

-

Purchase of commercial real estate loans

-

-

-

-

-

-

-

-

32,650

-

-

Proceeds from redemption of Federal Home Loan Bank stock

3,513

-

-

224

-

134

35

469

278

62

-

Purchase of Federal Home Loan Bank stock

2,277

-

3,859

-

-

-

-

-

46

26

1,166

Proceeds from sales of other real estate owned

2,063

1,346

2,793

4,595

9,412

9,532

21,267

25,326

11,844

9,474

8,402

Proceeds from sale of bank premises and equipment

909

764

-

-

-

-

-

-

-

-

-

Proceeds from sale of banking center

-

-

-

-

1,623

-

-

-

-15,388

-

-

Net purchases of premises and equipment

12,883

9,822

12,383

7,031

5,319

7,759

5,022

3,888

3,727

4,268

3,986

Purchase of bank owned life insurance

-

-

-

-

-

25,000

25,000

-

-

-

-

Net cash used in investing activities

-427,266

-121,535

-287,113

-296,134

-358,208

-470,894

43,552

995,280

-279,163

-8,327

447,117

FINANCING ACTIVITIES:
Net change in deposits

461,715

22,987

272,466

468,544

429,295

67,325

7,929

-894,756

-536,792

-299,789

-140,888

Net change in securities sold under agreements to repurchase and other short-term borrowings

-15,373

-21,031

30,548

-221,960

39,325

190,553

-85,329

20,653

-88,433

19,666

-39,432

Payments of Federal Home Loan Bank advances

820,000

457,500

490,000

292,000

218,000

188,000

37,600

590,095

75,247

117,730

107,627

Proceeds from Federal Home Loan Bank advances

760,000

530,000

425,000

395,000

210,000

290,500

100,000

195,000

445,000

45,000

230,000

Payoff of subordinated note, net of common security interest

-

-

-

4,000

-

-

-

-

-

-

-

Repurchase of Class A Common Stock

1,418

827

1,048

1,207

551

347

4,095

1,668

492

390

868

Net proceeds from Class A Common Stock purchased through employee stock purchase plan

494

230

-

-

-

-

-

-

-

-

-

Net proceeds from Class A Common Stock options exercised and PSUs awarded

-191

83

68

80

1,136

1,103

467

147

438

1,884

1,875

Cash dividends paid

21,377

19,497

17,656

16,768

15,839

14,930

14,009

36,116

12,315

11,356

10,379

Net cash provided by financing activities

363,850

54,445

219,378

327,689

445,366

346,204

-32,637

-1,306,835

-267,841

-362,715

-67,319

NET CHANGE IN CASH AND CASH EQUIVALENTS

33,829

52,123

10,042

79,227

137,204

-97,985

33,172

-225,280

-423,400

-281,808

451,876

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest

43,039

30,139

20,106

18,219

18,495

19,801

21,337

23,125

30,908

37,172

52,446

Income taxes

17,383

11,119

28,779

26,069

17,942

18,828

31,875

53,763

48,947

28,674

28,737

SUPPLEMENTAL NONCASH DISCLOSURES:
Transfers from loans to real estate acquired in settlement of loans

1,527

662

841

4,778

2,938

7,333

15,271

20,610

11,300

17,802

7,332

Transfers from loans held for sale to held for investment

-

2,237

-

71,201

-

-

-

-

-

-

-

Loans provided for sales of other real estate owned

51

-

-

256

3,248

1,442

2,377

1,554

3,119

2,294

116

Transfers from loans held for investment to held for sale

131,881

1,392

-

-

-

-

-

-

-

-

-

Unfunded commitments in low-income-housing investments

11,500

14,029

9,736

-

-

-

-

-

-

-

-

Right-of-use assets recorded

41,726

-

-

-

-

-

-

-

-

-

-