Salisbury bancorp inc (SAL)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating Activities
Net income

11,136

8,824

6,256

6,685

8,457

2,521

4,083

4,077

-

-

-

Net income

-

-

-

-

-

-

-

-

4,112

3,660

2,467

Adjustments to reconcile net income to net cash provided by operating activities
(Accretion), amortization and depreciation
Securities

332

31

145

241

240

-

-

-

-

483

652

Bank premises and equipment

1,591

1,668

1,441

1,181

1,234

-

-

-

-

787

709

Amortization of intangibles

388

454

533

601

652

-

-

-

-

222

164

Modification fees on Federal Home Loan Bank of Boston advances

232

232

234

230

0

-

-

-

-

-

-

Subordinated debt issuance costs

24

24

23

24

0

-

-

-

-

-

-

Mortgage servicing rights

51

48

169

242

356

-

-

-

-

197

167

Fair value adjustment on loans

-64

-779

-1,207

-1,784

-2,725

-

-

-

-

-

-

Fair value adjustment on deposits

-8

-37

-78

-121

-417

-

-

-

-

-

-

Gains on CRA mutual fund

25

-18

-

-

-

-

-

-

-

-

-

(Gain) loss on securities available-for-sale, net

-263

-318

-178

-584

-

-

-

-

-

-

-

Fair value adjustment on loans

-

-

-

-

-

-

-

-

-

42

47

Fair value adjustment on deposits and borrowings

-

-

-

-

-

-

-

-

-

-

-54

Sales and calls of securities available-for-sale, net

-

-

-

-

-

-

-

-

-

-16

-473

Gain on sales and calls of securities available-for-sale, net

-

-

-

-

192

-

-

-

-

-

-

Gain on sales of loans, excluding capitalized servicing rights

-82

-71

-95

-171

-125

-

-

-

-

-

-

Write-downs of other real estate owned

408

274

1,717

435

-

-

-

-

-

-

-

(Gains) and losses, including write-downs on sale/disposals of premises and equipment

-

85

1

-

-

-

-

-

-

-

-

Proceeds from sales of investment in real estate

-

-

-

-

-

-

-

-

-

-

0

Net cash and cash equivalents acquired in branch acquisition

-

-

-

-

0

-

-

-

-

-

8,121

Gain from BOLI

-

341

-

-

-

-

-

-

-

-

534

Write-downs of other real estate owned

-

-

-

-

81

-

-

-

-

15

-

Sales/disposals of premises and equipment

-

-

-

13

-

-

-

-

-

-

-

Life insurance policies settlement

-

-

-

-

-

-

-

-

-

-

-129

Loss on sale/disposals of premises and equipment

-

-

-

-

45

-

-

-

-

6

0

Write down of other real estate owned

-

-

-

-

-

-

-

-

-

-

86

Impairment loss on securities recognized in earnings

-

-

-

-

-

-

-

-

-

-

1,128

Provision for loan losses

955

1,728

1,020

1,835

917

-

-

-

-

1,000

985

Proceeds from loans sold

6,447

4,555

5,440

10,505

8,549

-

-

-

-

-

1,649

Loans originated for sale

-6,697

-3,815

-6,014

-9,571

-8,619

-

-

-

-

-

-

Decrease (increase) in loans held-for-sale

-

-

-

-

-

-

-

-

-

-519

-

Decrease in deferred loan origination fees and costs, net

59

-132

-42

-58

14

-

-

-

-

-236

-193

Mortgage servicing rights originated

-61

-43

-63

-95

-148

-

-

-

-

-

-

Decrease in mortgage servicing rights impairment reserve

-

-

-23

-

-

-

-

-

-

-

-

(Decrease) increase in mortgage servicing rights impairment reserve

-

-

-

20

3

-

-

-

-

-

-

Mortgage servicing rights originated

-

-

-

-

-

-

-

-

-

-453

-367

Increase in mortgage servicing rights impairment reserve

-

-

-

-

-

-

-

-

-

-20

-88

Increase in interest receivable

-267

-478

-229

-117

27

-

-

-

-

45

503

Deferred tax (benefit) expense

-391

-494

888

957

945

-

-

-

-

71

-1,060

Decrease (increase) in prepaid expenses

-174

-50

123

-296

-295

-

-

-

-

757

-2,542

Increase in cash surrender value of life insurance policies

-392

-337

-343

-353

-371

-

-

-

-

-

-

Increase in cash surrender value of life insurance policies

-

-

-

-

-

-

-

-

-

-169

-265

Decrease in income tax receivable

137

760

-173

-178

-512

-

-

-

-

-824

437

(Increase) decrease in other assets

846

48

790

-242

-103

-

-

-

-

149

-63

Decrease in accrued expenses

352

769

-643

660

-155

-

-

-

-

270

129

Increase in income tax payable

235

-

-

-

-86

-

-

-

-

-

-

Increase in interest payable

-159

138

10

-60

-16

-

-

-

-

-88

25

(Increase) decrease in other liabilities

-835

69

240

1,086

107

-

-

-

-

62

230

Issuance of shares for directors' fees

-

-

-

-

-

-

-

-

-

23

-

Stock based compensation - restricted stock awards

556

447

265

221

227

-

-

-

-

-

-

Tax benefit from stock compensation

-

-

-

33

0

-

-

-

-

-

-

Issuance of shares for directors' fee

-

-

-

-

-

-

-

-

-

-

19

Net cash provided by operating activities

14,330

13,277

10,207

11,273

8,090

-

-

-

-

5,464

4,163

Investing Activities
Proceeds from maturities of interest-bearing time deposits with other banks

-

-

-

-

-

-

-

-

-

0

-

Redemption of Federal Home Loan Bank of Boston stock

-1,254

683

602

35

-339

-

-

-

-

0

-

Purchases of securities available-for-sale

53,467

41,631

36,654

56,229

16,373

-

-

-

-

52,932

-

Purchases of interest bearing time deposits with financial institutions

-750

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of securities

41,814

10,036

199

4,865

-

-

-

-

-

-

-

Reinvestment of CRA Mutual Fund

21

19

-

-

-

-

-

-

-

-

-

Purchase of interest-bearing time deposits with other banks

-

-

-

-

-

-

-

-

-

-

5,000

Proceeds from maturities of interest-bearing time deposits with other banks

-

-

-

-

-

-

-

-

-

-

0

Purchases of Federal Home Loan Bank of Boston stock

-

-

-

-

-

-

-

-

-

-

709

Purchases of securities available-for-sale

-

-

-

-

-

-

-

-

-

-

110,728

Proceeds from sales of securities available for sale

-

-

-

-

3,861

-

-

-

-

24,745

37,818

Proceeds from calls of securities available-for-sale

75

695

16,141

14,221

10,925

-

-

-

-

-

-

Proceeds from maturities/principal payments of securities available-for-sale

13,521

17,061

20,427

33,574

14,668

-

-

-

-

0

-

Proceeds from calls of securities available-for-sale

-

-

-

-

-

-

-

-

-

-

42,044

Proceeds from maturities of securities available-for-sale

-

-

-

-

-

-

-

-

-

27,221

32,207

Proceeds from maturities of securities held-to-maturity

-

-

-

-

-

-

-

-

-

6

4

Loan originations and principle collections, net

-

-

-

-

-

-

-

-

-

-26,443

-

Loan originations and principle collections, net

19,172

102,273

32,536

69,240

24,481

-

-

-

-

-

-

Recoveries of loans previously charged off

88

74

600

126

653

-

-

-

-

29

-

Loan originations and principle collections, net

-

-

-

-

-

-

-

-

-

-

28,554

Recoveries of loans previously charged-off

-

-

-

-

-

-

-

-

-

-

-30

Proceeds from sales of OREO

1,088

289

2,080

-

855

-

-

-

-

66

94

Purchase of life insurance (BOLI)

5,750

-

-

-

-

-

-

-

-

0

-

Proceeds from sales/disposals of premises and equipment

-

-

-

-

-

-

-

-

-

382

-

Proceeds from sales/disposals of premises and equipment

-

-

-

-

-

-

-

-

-

-

0

Capital expenditures

2,055

1,393

1,954

1,285

779

-

-

-

-

2,906

3,565

Net cash and cash equivalents (paid) acquired in branch acquisition

-

298

-22,396

-

-

-

-

-

-

-

-

Proceeds from sales of investment in real estate

-

-

-

-

-

-

-

-

-

0

-

Net cash utilized by investing activities

-23,375

-118,142

-9,903

-74,003

-10,332

-

-

-

-

-29,832

-27,704

Financing Activities
(Decrease) increase in deposit transaction accounts, net

26,722

58,658

7,578

33,946

56,023

-

-

-

-

40,572

39,153

Increase in time deposits, net

-33,947

44,300

-5,208

-6,588

-16,499

-

-

-

-

-28,486

22,679

Decrease in securities sold under agreements to repurchase, net

4,426

2,436

-3,867

1,621

-249

-

-

-

-

1,775

212

Short-term Federal Home Loan Bank of Boston advances, net

20,500

-17,500

17,000

-

-

-

-

-

-

-

-

Long-term Federal Home Loan Bank of Boston advances, net

-37,000

30,000

-

-

-

-

-

-

-

-

-

Short-term Federal Home Loan Bank of Boston advances, net

-

-

-

10,000

-

-

-

-

-

-

-

Long-term Federal Home Loan Bank of Boston advances

-

-

-

-

0

-

-

-

-

-

-

Payments made on long-term Federal Home Loan Bank of Boston advances

-

-

-

-

791

-

-

-

-

-

-

Federal Home Loan Bank of Boston advances

-

-

-

-

-

-

-

-

-

-

12,000

Principal payments on Federal Home Loan Bank of Boston advances

-

-

-

21

0

-

-

-

-

3,552

2,618

Modification fees on Federal Home Loan Bank of Boston advances

-

-

-

-

1,043

-

-

-

-

-

-

Principal payments on note payable

34

33

31

32

0

-

-

-

-

-

-

Principal payments on finance lease obligations

109

127

59

-

-

-

-

-

-

-

-

Decrease in capital lease obligation

-

-

-

4

2

-

-

-

-

-

-

Stock options exercised

82

222

316

87

183

-

-

-

-

-

-

Issuance of shares for directors' fees

-

1

81

-

-

-

-

-

-

-

-

Tax benefit from stock compensation

-

-

-

33

0

-

-

-

-

-

-

Issuance of shares for directors' fees

-

-

-

141

-

-

-

-

-

-

-

Issuance of shares for directors' fees

-

-

-

-

81

-

-

-

-

-

-

Payoff of preferred stock

-

-

-

-

16,000

-

-

-

-

-

-

Issuance of subordinated debt, net of issuance costs

-

-

-

-

9,764

-

-

-

-

-

-

(Decrease) increase in short term Federal Home Loan Bank of Boston advances, net

-

-

-

-

-

-

-

-

-

-

-20,878

Proceeds from issuance of Series B preferred stock

-

-

-

-

-

-

-

-

-

-

8,816

Proceeds from issuance of Series B preferred stock

-

-

-

-

-

-

-

-

-

0

-

Redemption of Series A preferred stock

-

-

-

-

-

-

-

-

-8,816

0

-

Redemption of common stock warrants

-

-

-

-

-

-

-

-

-

0

-

Redemption of Series A preferred stock

-

-

-

-

-

-

-

-

-

-

0

Redemption of common stock warrants

-

-

-

-

-

-

-

-

-

-

0

Common stock dividends paid

3,155

3,133

3,113

3,086

3,054

-

-

-

-

1,890

1,889

Series B preferred stock dividends paid

-

-

-

-

158

-

-

-

-

441

296

Net cash provided by (utilized by) financing activities

-22,515

114,824

12,697

36,097

28,255

-

-

-

-

7,978

57,179

Net increase (decrease) in cash and cash equivalents

-31,560

9,959

13,001

-26,633

26,013

-

-

-

-

-16,390

33,638

Cash paid during period
Interest

9,212

6,864

4,049

3,777

3,460

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

7,585

9,064

Income taxes

2,378

1,443

2,291

1,238

3,216

-

-

-

-

1,446

574

Non-cash investing and financing activities
From loans to other real estate owned

-

1,654

743

-

-

-

-

-

-

-

-

Finance Lease Obligation

-

1,373

-

-

-

-

-

-

-

-

-

Finance Lease Paid-off
Fixed Asset

-1,158

-

-

-

-

-

-

-

-

-

-

Lease liability

1,254

-

-

-

-

-

-

-

-

-

-

Deferred gain applied to bank premises and equipment

-96

-

-

-

-

-

-

-

-

-

-

Transfer of unearned credit-related discount to allowance for loan losses

663

-

-

-

-

-

-

-

-

-

-

Cash and cash equivalents acquired

-

-

-

-

-

-

-

-

-

-

8,121

Net loans acquired

-

-

-

-

-

-

-

-

-

-

2,455

Assets acquired under capital lease

-

-

-

-

-

-

-

-

-

-

403

Adoption of new accounting principle - Other assets

1,552

-

-

-

-

-

-

-

-

-

-

Adoption of new accounting principle - Other liabilities

-1,552

-

-

-

-

-

-

-

-

-

-

Adoption of new accounting principle

-

16

-

-

-

-

-

-

-

-

-

BOLI proceeds included in other assets

-

621

-

-

-

-

-

-

-

-

-

From loans to other real estate owned

-

-

-

4,955

101

-

-

-

-

-

-

From other real estate owned to loans

-

-

-

-

167

-

-

-

-

-

-

Note payable to finance building purchase

-

-

-

-

376

-

-

-

-

-

-

Transfer from loans to other real estate owned

-

-

-

-

-

-

-

-

-

610

400

From other real estate owned to other assets

-

-

-

747

-

-

-

-

-

194

150

Branch acquisition
Cash and cash equivalents (paid) acquired

-

-298

22,387

-

-

-

-

-

-

-

-

From other real estate owned to other assets

-

-

-

-

0

-

-

-

-

-

-

Net loans acquired

-

7,849

7,097

-

-

-

-

-

-

-

-

Fixed assets acquired (including capital leases)

-

761

1,605

-

-

-

-

-

-

-

-

Accrued interest receivable acquired

-

5

12

-

-

-

-

-

-

-

-

Other assets acquired

-

6

20

-

-

-

-

-

-

-

-

Core deposit intangible

-

-

633

-

-

-

-

-

-

-

-

Goodwill

-

-

1,263

-

-

-

-

-

-

-

-

Deposits assumed

-

8,323

31,433

-

-

-

-

-

-

-

-

Capital lease assumed

-

-

1,476

-

-

-

-

-

-

-

-

Other liabilities assumed

-

-

3

-

-

-

-

-

-

-

-

Accrued interest receivable acquired

-

-

-

-

-

-

-

-

-

-

7

Deposits assumed

-

-

-

-

-

-

-

-

-

-

11,446

Accrued interest payable assumed

-

-

-

-

-

-

-

-

-

-

3

Core deposit intangible

-

-

-

-

-

-

-

-

-

-

463