Southern first bancshares inc (SFST)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating activities
Net income available to common shareholders

27,858

22,289

13,045

13,036

10,167

6,625

5,120

3,862

2,088

890

1,419

Adjustments to reconcile net income to cash provided by (used for) operating activities:
Provision for loan losses

2,300

1,900

2,000

2,300

3,200

4,175

3,475

4,550

5,270

5,610

4,310

Depreciation and other amortization

1,888

1,755

1,460

1,251

1,310

1,207

1,205

979

884

853

731

Accretion and amortization of securities discounts and premium, net

-432

-437

-582

-581

-353

-375

-659

-850

-1,066

-1,092

-449

Gain on sale of real estate held for investment

-

-

-

-

-

-

-

-

150

0

-

Gain on sale of investment securities available for sale

-

-

-

-

-

230

0

363

23

811

41

(Gain) loss on sale of other real estate owned

-

-

-

-

-

-70

-5

-458

-318

-102

-

Gain on sale of investment securities available for sale

727

7

4

431

297

-

-

-

-

-

-

Held to maturity

-

-

-

-

-

-

-

-

-

345

-

Other-than-temporary impairment on investment securities

-

-

-

-

-

-

-

-

25

450

-

(Gain) loss on sale of fixed assets

-

-

-

-

0

-

-

-

-27

18

-

Loss on sale of real estate owned

-

-

-

-

-

-

-

-

-

-

-203

Write-down of real estate owned

-

-

-

-

-

-320

-130

-419

-782

-569

-302

(Gain) loss on sale of other real estate owned

-

-

-

-428

63

-

-

-

-

-

-

Write-down of other real estate owned

-

-

-

-466

-937

-

-

-

-

-

-

Net change in operating leases

585

-

-

-

-

-

-

-

-

-

-

Compensation expense related to stock options and restricted stock grants

1,698

1,502

1,258

1,998

759

629

515

342

276

246

118

Gain on sale of loans held for sale

10,219

5,144

5,752

6,553

4,963

2,699

1,088

0

-

-

-

Loans originated and held for sale

-

-

-

-

-

109,871

63,915

0

-

-

-

Loans originated and held for sale

380,632

204,429

192,347

251,397

201,842

-

-

-

-

-

-

Proceeds from sale of loans held for sale

373,046

212,122

194,110

255,092

213,627

104,416

63,451

0

-

-

-

Income from bank owned life insurance

1,001

878

811

736

685

667

658

632

565

554

-

Increase in cash surrender value of bank owned life insurance

-

-

-

-

-

-

-

-

-

-

-605

Decrease in deferred tax asset

420

115

-2,904

-356

1,256

1,422

460

297

853

-1,100

417

Increase in other assets, net

600

-325

1,183

1,867

495

213

314

-1,017

-729

-1,750

3,049

Increase (decrease) in other liabilities

4,074

1,946

1,931

2,565

-646

2,019

463

690

1,316

-144

-559

Net cash provided by operating activities

-

-

-

-

-

4,734

8,588

11,875

11,190

10,790

2,861

Net cash provided by (used for) operating activities

18,282

31,703

17,193

17,089

20,106

-

-

-

-

-

-

Investing activities
Increase (decrease) in cash realized from:
Increase in loans, net

267,613

291,923

225,047

160,019

135,294

143,585

93,473

53,279

31,878

6,539

15,770

Purchase of property and equipment

8,431

1,943

5,381

5,428

4,650

2,225

2,299

2,370

2,369

326

5,433

Purchase of investment securities:
Available for sale

39,930

23,181

21,972

17,976

57,219

2,073

3,260

35,014

81,591

112,858

44,773

Other investments

4,675

46

3,086

806

149

1,800

2,025

0

0

750

894

Payments and maturities, calls and repayments of investment securities:
Available for sale

19,212

9,025

9,644

20,341

11,711

6,418

9,555

12,031

14,374

21,904

27,363

Held to maturity

-

-

-

-

-

-

-

-

-

1,110

3,261

Other investments

1,848

387

4,366

596

1,140

1,394

2,218

130

1,146

138

141

Proceeds from sale of investment securities:
Proceeds from sale of investment securities available for sale

29,006

5,841

8,813

22,186

10,072

10,427

0

45,143

31,914

100,939

7,630

Held to maturity

-

-

-

-

-

-

-

-

-

8,358

-

Other investments

-

-

-

-

-

0

1,485

0

0

755

-

Purchase of life insurance policies

5,000

-

6,850

-

2,000

0

2,000

0

3,000

0

-

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

18

-

Proceeds from sale of property held for investment

-

-

-

-

-

-

-

-

1,793

0

-

Proceeds from sale of other real estate owned

-

132

498

1,187

431

660

1,740

2,670

1,749

837

759

Net cash used for investing activities

-

-

-

-

-

-130,784

-88,059

-30,689

-67,862

13,586

-27,716

Net cash used for investing activities

-275,583

-301,708

-239,015

-139,919

-175,958

-

-

-

-

-

-

Financing activities
Increase (decrease) in cash realized from:
Increase in deposits, net

227,988

267,013

289,972

105,418

196,826

108,588

104,020

13,387

26,616

42,212

24,547

Increase (decrease) in Federal Home Loan Bank advances and other borrowings

60,000

-17,200

-48,000

-

-20,000

-

-

-

-

-

-

Increase of subordinated debt

22,487

-

-

-

-

-

-

-

-

-

-

Decrease in note payable

-

-

-

-

-

-1,400

0

1,400

-

-

-

Increase in note payable

-

-

-

-

-

-

-

-

0

-4,250

-10,750

Increase (decrease) in Federal Home Loan Bank advances and other borrowings

-

-

-

-

-

12,500

-13,190

13,190

0

-20,000

-6,975

Proceeds from the issuance of preferred stock

-

-

-

-

-

-

-

-

-

-

15,856

Proceeds from the issuance of stock warrant

-

-

-

-

-

-

-

-

-

-

1,418

Cash dividend on preferred stock

-

-

-

-

-

1,010

778

845

865

865

620

Redemption of preferred stock

-

-

-

-

-

-15,299

-980

-1,100

-

-

-

Redemption of preferred stock

-

-

-

-

-

-

-

-

0

0

-

Issuance of common stock

-

-

24,758

-

0

24,376

0

-

-

-

-

Proceeds from the exercise of stock options and warrants

1,769

900

705

1,098

628

-

-

-

-

-

-

Redemption of CPP warrant

-

-

-

-

-

-

-

-904

0

0

-

Cash in lieu of fractional shares

-

-

-

-

-

-

9

2

1

0

-

Proceeds from the exercise of stock options and warrants

-

-

-

-

-

-

198

96

77

295

301

Proceeds from the exercise of stock options

-

-

-

-

-

356

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

128,111

89,261

25,222

25,827

17,392

23,777

Net cash provided by financing activities

312,244

250,713

267,435

106,516

177,454

-

-

-

-

-

-

Net increase in cash and cash equivalents

54,943

-19,292

45,613

-16,314

21,602

2,061

9,790

6,408

-30,845

41,768

-1,078

Supplemental information
Cash paid for
Interest

25,156

15,410

9,987

-

-

-

-

-

-

-

-

Interest

-

-

-

8,311

7,293

6,907

7,571

8,669

11,897

15,639

17,119

Income taxes

7,883

5,451

8,390

6,680

6,625

4,535

2,876

2,129

1,685

0

605

Schedule of non-cash transactions
Foreclosure of other real estate

-

-

288

245

473

3,159

1,354

-

-

-

-

Real estate acquired in settlement of loans

-

-

-

-

-

-

-

1,580

907

3,433

4,552

Unrealized gain on securities, net of income taxes

-1,193

455

-51

216

110

-1,802

2,526

-378

-1,738

1,641

-1,563

Right-of-use assets obtained in exchange for lease obligations:
Operating leases

21,459

-

-

-

-

-

-

-

-

-

-