ServisFirst Bancshares, Inc. SFBS Cash Flow

Servisfirst bancshares, inc. (SFBS)

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	Dec'11	Sep'11	Jun'11	Mar'11
OPERATING ACTIVITIES
Net income
149,011	149,243	144,443	141,440	139,347	136,940	121,853	112,552	103,176	93,092	93,680	89,330	84,042	81,479	79,491	74,848	70,441	63,540	58,822	56,558	53,674	52,377	49,213	46,023	44,124	41,617	38,305	36,795	35,440	34,445	32,476	29,309	26,823	23,438	0	0	0
Adjustments to reconcile net income to net cash provided by
Deferred tax (benefit) expense
-3,412	-1,077	-12,158	-13,189	-14,741	-14,255	17,901	15,405	15,971	14,048	-5,177	-2,164	-1,842	-1,728	-1,156	-4,523	-9,072	-4,876	-3,359	-2,373	62	-5,021	-6,567	-3,072	-2,146	-1,805	-849	-2,772	-2,077	-2,181	-1,366	509	-1,092	-1,240	0	0	0
Provision for loan losses
31,337	22,638	23,272	22,911	22,148	21,402	23,939	22,118	22,378	23,225	18,245	16,906	16,325	13,398	12,631	12,239	12,501	12,847	12,298	11,974	10,350	10,259	9,856	10,142	11,038	13,008	13,101	11,252	11,001	9,100	9,158	10,713	9,124	8,972	0	0	0
Depreciation
3,686	3,682	3,604	3,544	3,463	3,378	2,835	2,746	2,648	2,568	2,794	2,745	2,746	2,724	2,798	2,575	2,437	2,219	1,973	1,965	1,853	1,838	1,982	1,930	2,024	1,841	1,663	1,522	1,231	1,218	1,240	1,211	1,208	1,173	0	0	0
Accretion on acquired loans
-1	90	107	129	182	163	237	322	393	464	535	623	833	980	1,077	1,458	2,613	1,954	1,696	1,120	-369	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of core deposit intangible
270	270	271	270	271	270	270	271	272	277	286	299	315	334	352	372	393	376	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net amortization of debt securities available for sale
-3,435	-3,095	-2,615	-2,928	-2,846	-2,843	-3,413	-3,239	-3,641	-4,019	-5,037	-4,908	-4,564	-4,197	-4,956	-4,787	-4,713	-4,713	-2,365	-3,346	-3,335	-3,247	-3,083	-1,733	-1,410	-1,122	-1,002	-1,054	-1,071	-1,079	-1,099	-1,070	-1,096	-958	0	0	0
Market value adjustment of interest rate cap
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9	-17	-16	-52	-106	0	0	0
Decrease (increase) in accrued interest and dividends receivable
-1,684	2,192	668	5,260	6,737	3,409	4,421	4,605	4,210	4,860	5,686	3,283	2,635	2,103	2,082	1,582	1,425	2,000	1,200	1,735	1,137	952	1,278	585	1,216	1,104	416	1,045	1,179	966	1,659	1,209	617	1,202	0	0	0
Stock-based compensation expense
1,095	1,100	948	857	895	851	938	1,030	1,071	1,170	1,183	1,180	1,192	1,198	1,339	1,341	1,307	1,265	1,135	1,143	2,962	3,681	3,719	3,726	1,966	1,205	1,150	1,108	1,049	1,049	1,044	1,032	1,009	975	0	0	0
Increase in accrued interest payable
923	1,553	2,914	3,708	3,653	5,410	4,209	3,709	3,609	570	727	637	571	2,032	679	536	1,038	340	654	305	395	1,171	1,189	1,041	967	-173	148	-30	138	-3	-176	-48	152	47	0	0	0
Proceeds from sale of mortgage loans held for sale
156,086	135,359	115,675	97,007	97,667	106,806	111,638	120,083	128,478	136,259	138,203	140,595	134,714	130,131	122,730	136,357	140,463	137,020	145,857	104,932	108,359	107,678	114,788	146,733	160,522	192,576	214,306	227,867	232,441	239,292	230,596	223,666	195,675	169,172	0	0	0
Originations of mortgage loans held for sale
156,753	137,190	115,406	98,709	91,527	99,683	108,954	115,836	122,947	132,208	133,163	134,216	132,267	122,832	120,068	129,506	130,273	136,603	139,638	102,701	111,822	103,481	109,689	140,345	149,605	172,371	195,017	225,765	232,066	243,699	246,562	230,335	202,704	177,200	0	0	0
Net gain on sale of debt securities available for sale
-	-	-	-	-	15	15	4	4	0	0	0	0	-	-	-	-	29	29	32	32	3	3	0	8	131	131	131	123	0	0	0	523	666	0	0	0
Gain on sale of mortgage loans held for sale
4,857	4,361	3,683	3,139	2,841	2,784	2,990	3,179	3,454	3,835	3,985	4,119	3,956	3,725	3,301	3,062	2,896	2,682	2,569	2,278	2,217	2,047	1,854	1,689	1,817	2,513	3,013	3,476	3,568	3,560	0	0	0	-	-	-	0
Net (gain) loss on sale of other real estate owned and repossessed assets
148	122	0	0	0	-	-	-	-	33	78	110	73	18	-93	-134	-175	-136	-121	-182	-218	-413	-386	-344	-313	-159	-152	-130	-59	-105	0	0	0	-	-	0	0
Write down of other real estate owned and repossessed assets
854	287	464	633	430	664	506	272	277	23	51	210	230	603	793	852	891	643	795	710	778	811	454	320	305	433	1,167	2,171	2,425	2,189	1,569	590	291	326	0	0	0
Operating losses of tax credit partnerships
24	-8	-19	-166	-169	-163	-165	-142	-130	-79	-422	-385	-218	-202	-88	-52	-152	-152	321	283	245	207	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in special prepaid FDIC insurance assessments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,498	-2,848	-3,194	-1,358	-1,322	-1,338	-1,325	-1,235	-1,492	0	0	0
Increase in cash surrender value of life insurance contracts
4,437	3,746	3,107	3,107	3,115	3,130	3,147	3,185	3,184	3,131	3,079	3,024	2,894	2,794	2,679	2,592	2,597	2,621	2,640	2,506	2,392	2,280	2,179	2,121	2,060	1,994	1,909	1,804	1,704	1,624	0	0	0	-	-	-	-
Excess tax benefits from the exercise of stock options and vesting of stock awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	895	612	400	262	629	386	386	381	0	0	0	-	-	-	-
Net change in other assets, liabilities, and other operating activities
3,891	4,155	3,991	-2,765	-19,507	-13,167	14,392	5,194	19,327	12,335	-482	5,416	-117	3,600	421	-491	-4,295	-3,781	-223	17,925	5,378	2,812	188	-9,539	-4,352	-92	-1,005	-7,292	1,211	-3,790	1,167	1,863	-3,914	-200	0	0	0
Net cash provided by operating activities
174,833	164,275	155,089	152,529	171,090	168,301	153,339	149,272	128,135	118,464	109,051	103,888	100,461	98,521	95,297	92,064	91,663	76,267	74,595	51,263	58,106	65,086	62,017	73,107	71,877	74,198	72,883	56,976	43,901	41,184	22,550	30,473	32,503	24,323	0	0	0
INVESTMENT ACTIVITIES
Purchase of debt securities available for sale
308,474	293,832	220,234	177,687	167,656	156,815	128,258	123,095	83,785	83,004	150,944	202,991	201,299	157,483	138,183	79,403	86,516	81,781	33,797	43,467	52,572	65,398	76,640	88,998	95,822	83,455	79,947	50,529	33,635	47,867	40,919	107,406	105,204	102,190	0	0	0
Proceeds from maturities, calls and paydowns of securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	14,320	63,270	0	0	0
Proceeds from maturities, calls and paydowns of debt securities available for sale
96,041	97,732	128,671	115,914	99,880	91,787	0	0	0	-	-	-	-	-	-	-	-	46,271	39,928	40,235	35,168	32,833	25,961	23,554	39,939	40,959	53,496	108,853	97,962	106,783	100,917	43,615	38,011	28,575	0	0	0
Proceeds from sale of debt securities available for sale
-	-	-	-	-	5,736	9,236	8,600	8,600	3,500	0	0	0	-	-	-	-	16,738	16,738	16,911	16,721	173	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of debt securities held to maturity
0	250	0	0	0	-	-	-	-	66,002	67,294	58,486	47,486	38,139	627	439	641	202	0	0	0	-	-	-	-	10,668	16,364	16,364	17,995	11,701	10,258	12,742	7,795	15,441	0	0	0
Investment in tax credit partnership and SBIC
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of equity securities
-	-	-	-	-	-	-	-	-	10	10	10	10	708	708	708	709	534	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities, calls and paydowns of debt securities held to maturity
-	-	-	-	-	-	-	-	-	6,227	5,748	5,891	2,968	3,001	2,743	2,800	2,228	2,131	2,281	2,357	2,848	2,919	3,082	2,630	4,006	4,361	4,025	3,567	1,540	943	4,822	5,626	5,520	5,466	0	0	0
Purchase of restricted equity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	787	787	787	543	0	0	0
Purchase of BOLI contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Increase in loans
936,982	754,533	681,315	856,291	748,014	696,701	753,959	802,163	793,077	957,975	981,712	813,614	819,797	700,857	616,551	678,726	735,029	710,917	741,148	668,291	528,358	508,026	434,412	472,660	493,816	515,644	590,389	584,041	553,100	540,019	475,797	475,837	458,734	449,449	0	0	0
Purchase of premises and equipment
2,014	2,356	2,292	2,440	2,503	2,300	5,613	9,248	14,866	21,154	31,467	29,922	26,764	22,205	8,991	10,363	7,521	5,537	4,558	1,357	1,447	1,307	1,423	920	1,195	1,346	4,306	4,246	5,641	5,474	2,616	2,570	970	1,314	0	0	0
Expenditures to complete construction of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	3	3	30	121	118	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of restricted equity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Proceeds from sale of other real estate owned and repossessed assets
1,843	1,437	2,427	2,068	2,446	3,272	1,576	1,238	1,981	1,533	1,221	1,312	753	1,340	465	2,338	2,513	3,428	5,624	3,773	5,691	6,539	7,932	10,594	8,967	7,664	5,691	3,229	3,639	2,967	2,918	3,691	2,545	3,334	0	0	0
Investment in tax credit partnerships
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,437	7,907	0	0	0	-	-	-	-	-	-	-	-
Net cash paid in acquisition of Metro Bancshares, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,383	12,383	11,353	12,883	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-1,186,244	-988,349	-792,751	-917,533	-814,914	-754,474	-828,947	-887,924	-859,773	-1,042,248	-1,170,338	-1,036,939	-1,035,992	-861,649	-694,030	-717,098	-773,980	-749,480	-732,725	-679,164	-550,660	-549,092	-487,398	-539,859	-557,693	-571,693	-660,498	-555,169	-520,516	-509,808	-421,166	-585,742	-552,542	-507,740	0	0	0
FINANCING ACTIVITIES
Net increase in non-interest-bearing deposits
352,923	192,538	174,225	95,512	165,111	117,015	98,482	108,094	115,152	158,721	136,239	187,685	222,165	228,138	240,372	259,091	203,532	195,729	187,523	150,136	156,631	160,004	159,400	166,967	155,187	105,282	122,191	94,852	75,229	126,364	130,867	183,376	170,784	168,320	0	0	0
Net increase in interest-bearing deposits
396,066	422,187	1,044,582	1,223,600	941,168	707,019	609,968	582,778	500,703	512,642	579,534	539,330	799,620	968,285	796,122	679,572	497,452	454,245	328,591	245,600	275,337	218,514	274,149	315,698	452,320	402,788	387,505	339,223	158,929	241,321	267,373	253,652	326,092	216,851	0	0	0
Net increase in federal funds purchased
-170,245	-182,024	-124,137	-196,790	-46,979	13,072	8,786	37,567	31,842	54,147	89,510	120,204	139,644	-3,584	-115,975	-147,335	-216,985	-85,870	-48,010	-89,850	-82,963	-89,935	-8,140	-5,595	-41,832	-57,315	-78,773	-95,270	-60,545	-37,800	0	0	0	-	-	-	-
Repayment of Federal Home Loan Bank advances
-	-	-	-	-	200	300	400	400	400	400	400	400	400	400	300	300	300	200	200	100	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of preferred stock, net
-	-	-	-	-	-	-	-	-	125	0	0	125	-	0	0	0	125	125	125	125	250	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
3,587	2,123	2,687	2,579	2,282	2,337	2,601	2,054	1,837	1,911	1,038	1,566	2,362	3,188	3,264	3,447	4,227	3,801	3,666	3,751	4,768	6,316	6,619	7,748	5,894	3,279	6,262	5,440	4,449	4,651	0	0	0	-	-	-	-
Taxes paid in net settlement of tax obligation upon exercise of stock options
927	1,977	2,462	2,543	2,566	2,360	2,960	2,590	2,567	1,320	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from exercise of stock options and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	895	612	400	262	629	386	386	381	0	0	0	-	-	-	-
Repayment of other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,738	0	0	0
Dividends paid on common stock
25,418	24,053	24,538	30,392	25,563	20,194	16,448	13,245	10,585	10,040	8,950	8,404	8,723	7,858	6,988	6,439	7,123	5,883	4,329	4,016	2,480	3,609	6,039	4,802	4,799	3,682	3,146	3,146	3,146	3,134	0	0	0	-	-	-	-
Dividends paid on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	280	371	438	431	431	432	432	416	416	400	400	400	400	0	0	0	-	-	-	-
Net cash provided by financing activities
896,413	772,779	1,318,568	1,485,483	1,127,248	790,482	692,438	649,005	582,179	617,373	618,021	599,643	875,458	1,194,890	1,148,298	1,077,303	908,275	727,984	556,789	484,431	569,741	523,055	504,001	554,071	661,005	575,165	597,683	534,999	295,445	406,436	469,283	513,616	630,558	494,372	0	0	0
Net increase in cash and cash equivalents
-114,998	-51,295	680,906	720,479	483,424	204,309	16,830	-89,647	-149,459	-306,411	-443,266	-333,408	-60,073	431,762	549,565	452,269	225,958	54,771	-101,341	-143,470	77,187	39,049	78,620	87,319	175,189	77,670	10,068	36,806	-181,170	-62,188	70,667	-41,653	110,519	10,955	0	0	0
Cash paid for:
Interest
96,441	101,605	99,140	87,416	73,643	58,538	49,085	41,635	35,832	34,763	31,045	28,663	26,917	23,773	23,325	21,365	18,702	17,275	15,374	14,591	13,949	12,948	12,837	12,981	12,820	13,792	13,485	13,824	14,194	14,904	39,353	15,693	15,776	16,033	0	0	0
Income taxes
41,099	42,232	44,776	45,858	29,178	30,547	32,170	29,868	44,836	42,586	38,253	35,085	30,246	30,268	29,764	29,804	27,257	27,113	25,750	35,140	26,183	27,278	26,933	17,981	18,163	20,878	20,999	18,913	20,954	17,714	38,176	16,392	13,337	15,837	0	0	0
Income tax refund
0	-	-	-	0	-	-	-	-	492	492	1,111	243	929	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NONCASH TRANSACTIONS
Other real estate acquired in settlement of loans
4,517	4,611	3,051	3,081	3,286	3,080	5,305	4,850	4,307	4,685	2,665	2,662	3,589	4,112	2,275	2,187	1,966	2,092	3,202	4,358	3,619	2,417	2,237	8,966	11,164	11,335	11,422	4,760	2,562	2,695	4,202	7,221	7,433	9,029	0	0	0
Conversion of mandatorily convertible subordinated debentures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,000	0	0	0	-	-	-	-	-	-	-	-
Transfers of loans from held for sale to held for investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	834	0	0	417	0	0	0
Internally financed sale of other real estate owned
-	-	-	-	-	-	-	-	-	1,449	616	1,620	1,619	2,592	3,960	2,956	2,369	1,799	0	0	0	-	-	-	-	-	-	-	-	24	0	0	0	-	-	-	-
Dividends declared
10,768	9,384	10,204	10,200	10,197	8,018	5,851	5,852	5,854	2,649	2,648	2,651	2,651	2,105	2,110	2,107	2,114	1,558	1,554	1,553	1,650	1,240	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of assets and liabilities from acquisition:
Fair value of tangible assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	204,985	201,927	201,821	201,821	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Intangible assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,707	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other intangible assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	180,410	179,682	179,682	179,682	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net identifiable assets acquired over liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-