Shore bancshares inc (SHBI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income

16,198

24,997

11,262

9,638

7,108

5,051

-9,634

-9,638

-897

-1,667

7,273

Adjustments to reconcile net income to net cash provided by operating activities:
Net accretion of acquisition accounting estimates

468

679

506

-

-

-

-

-

-

-

-

Provision for credit losses

700

1,674

2,291

1,848

2,075

3,350

27,784

27,745

19,470

21,119

8,986

Goodwill and other intangible assets impairment

-

-

-

-

-

-

-

-

1,344

3,051

0

Depreciation and amortization

2,393

2,297

1,649

2,449

2,434

2,312

2,392

2,648

2,341

2,405

1,880

Net amortization of securities

-512

-649

-820

22

99

60

43

70

156

128

226

Stock-based compensation expense

149

447

1,055

334

283

87

78

209

338

390

102

Deferred income tax expense (benefit)

-241

1,610

-4,476

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based arrangements

-

-

-

-

-

-

26

106

45

20

5

Deferred income tax expense

-

-

-

5,717

3,874

2,836

-6,132

-4,768

-1,550

-2,905

-928

(Gains) on sales and calls of securities

-

-

-

-

-

-

-

-

563

0

49

(Gains) on sales of securities

-

-

5

30

-

23

913

278

-

-

-

Losses on disposals of premises and equipment

-

-

-22

-

-18

-82

0

192

-36

0

0

Losses on sales and valuation adjustments on other real estate owned

-417

-290

-207

-363

-171

-687

-1,669

-

-

-

-

Net (gain) on disposal of discontinued operations

-

12,736

-

-

-

-

-

-

-

-

-

Fair value adjustment on equity securities

-42

5

-

-

-

-

-

-

-

-

-

Bank owned life insurance income

443

73

-

-

-

-

-

-

-

-

-

Losses on sales and write-downs of other real estate owned

-

-

-

-

-

-

-

-2,015

-

-

-

Gain on sale of wholesale insurance subsidiary

-

-

-

-

-

114

0

0

-

-

-

(Gain) on sale of credit card portfolio

-

-

-

198

-

-

-

-

-

-

-

Losses on sales and write-downs of other real estate owned

-

-

-

-

-

-

-

-

-1,222

-

-

Losses on sales and write-downs of other real estate owned

-

-

-

-

-

-

-

-

-

-735

-185

Loss on termination of cash flow hedge

-

-

-

-

-

-

1,306

1,339

0

0

-

Net changes in:
Gains on interest rate swaps

-

-

-

-

-

-

-

-

-

-

420

Accrued interest receivable

110

-164

827

218

-205

102

-235

-1,137

-1,127

256

198

Other assets

-2,304

3,258

1,245

98

870

-170

-4,703

-1,351

-1,813

-2,516

6,541

Accrued interest payable

-274

539

-9

-32

-66

-53

-114

-230

-291

-921

-569

Other liabilities

-7,834

5,590

331

-729

-15

-1,044

-1,458

224

-2,265

-4,429

5,536

Net cash provided by operating activities

13,743

18,296

19,521

19,022

15,118

-

-

-

-

19,890

15,026

Net cash provided by operating activities

-

-

-

-

-

13,179

19,847

21,386

21,924

-

-

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities and principal payments of investment securities available for sale

35,447

38,914

46,484

59,989

68,395

43,418

38,512

47,854

53,343

47,945

53,668

Proceeds from sales of investment securities available for sale

-

-

4,000

3,961

-

988

40,351

6,275

20,825

0

2,048

Proceeds from sales of investment securities held to maturity

-

-

-

-

-

113

0

0

-

-

-

Purchases of investment securities available for sale

-

-

84,499

18,120

46,102

133,006

87,243

69,491

104,305

49,626

78,376

Proceeds from maturities and principal payments of investment securities held to maturity

1,282

228

479

376

432

443

439

3,810

226

2,195

3,934

Purchases of securities held to maturity

4,000

-

-

3,000

-

-

-

-

-

-

2,623

Purchases of equity securities

31

616

-

-

-

-

-

-

-

-

-

Proceeds from the sale of credit card portfolio

-

-

-

1,428

-

-

-

-

-

-

-

Net change in loans

53,528

102,644

100,038

81,369

88,595

3,982

-12,957

-

-

-

-

Proceeds from sale of loans

-

-

-

-

-

-

20,565

0

0

-

-

Net change in loans

-

-

-

-

-

-

-

23,896

24,233

264

-

Net change in loans

-

-

-

-

-

-

-

-

-

-

38,190

Purchases of premises and equipment

2,244

1,133

1,259

699

1,518

2,077

545

2,202

1,216

1,292

1,553

Proceeds from sales of premises and equipment

-

-

-

-

-

-

4

317

4

0

0

Proceeds from sales of other real estate owned

731

378

571

3,700

2,040

1,697

5,325

5,742

3,807

1,255

122

Cash received in branch acquisition (net of cash paid)

-

-

64,045

-

-

-

-

-

-

-

-

Net purchases of restricted securities

-

2,741

2,085

-

-

-

-

-

-

-

-

Net redemption of restricted securities

2,286

-

-

-

-

-

-

-

-

-

-

Net proceeds from disposal of discontinued operations

-

25,159

-

-

-

-

-

-

-

-

-

Purchases of bank owned life insurance

25,621

-

-

-

-

-

-

-

-

-

-

Purchases of interest rate caps

-

-

-

-

-

-

-

-

-

-

6,475

Investment in unconsolidated subsidiary

-

-

-

-

-

-

-

-

-

25

0

Net cash (used in) investing activities

-45,678

-42,455

-72,302

-33,734

-65,348

-

-

-

-

716

-67,445

Proceeds from sale of subsidiary

-

-

-

-

-

2,878

0

0

-

-

-

Return of investment unconsolidated subsidiary

-

-

-

-

-

-

85

0

-

-

-

Return of investment in unconsolidated subsidiary

-

-

-

-

-

-

-

-

-25

-

-

Net cash (used in) provided by investing activities

-

-

-

-

-

-89,528

30,450

16,201

-3,108

-

-

CASH FLOWS FROM FINANCING ACTIVITIES:
Noninterest-bearing deposits

26,152

2,144

32,185

31,890

35,872

21,017

18,805

20,191

9,613

1,696

19,908

Interest-bearing deposits

103,002

7,690

-39,263

-9,864

-9,412

-5,482

-134,610

19,163

20,790

-13,118

125,658

Short-term borrowings

-59,586

39,078

18,531

-3,469

1,864

-5,332

-3,621

-

-

-4,363

-

Net cash provided by (used in) financing activities

-

-

-

-

-

41,482

-119,400

34,864

30,962

-

-

Long-term borrowings

-

15,000

-

-

-

-

-

-

-

-

-

Common stock dividends paid

5,347

4,079

2,790

-

-

-

-

-

-

-

-

Retirement of common stock

-4,452

-

-

-

-

-

-

-

-

-

-

Short-term borrowings

-

-

-

-

-

-

-

4,056

-1,776

-

32,565

Proceeds from the issuance of common stock

-

-

-

53

-

31,279

0

0

-

-

2

Excess tax benefits from stock-based arrangements

-

-

-

-

-

-

26

106

45

20

5

Repayment of long-term debt

-

-

-

-

-

-

-

455

477

497

6,518

Proceeds from issuance of preferred stock and warrant

-

-

-

-

-

-

-

-

-

-

25,000

Redemption of preferred stock

-

-

-

-

-

-

-

-

-

-

23,525

Repurchase of warrant

-

-

-

-

-

-

-

-

25

0

0

Preferred stock dividends paid

-

-

-

-

-

-

-

-

-

-

1,808

Common stock dividends paid

-

-

0

1,771

506

-

0

85

760

2,026

5,386

Repurchase of shares for tax withholding on exercised options and vested restricted stock

88

269

-

-

-

-

-

-

-

-

-

Net cash (used in) financing activities

59,681

59,564

8,663

16,839

27,818

-

-

-

-

-18,288

100,771

Net increase in cash and cash equivalents

27,746

35,405

-

-

-

-

-

-

-

-

-

NET DECREASE IN CASH AND CASH EQUIVALENTS

-

-

-44,118

2,127

-22,412

-34,867

-69,103

72,451

49,778

2,318

48,352

Supplemental cash flows information:
Interest paid

10,071

5,008

2,368

2,434

3,413

-

-

-

-

-

-

Interest Paid, Total

10,071

5,008

2,368

2,434

3,413

-

-

-

-

-

-

Interest paid

-

-

-

-

-

4,300

6,589

10,792

11,379

13,743

17,980

Income taxes paid

11,920

5,365

3,900

435

518

243

265

163

2,062

1,193

4,975

Lease liabilities arising from right-of-use assets

5,243

-

-

-

-

-

-

-

-

-

-

Transfers from loans to other real estate owned

-

96

95

2,289

2,773

2,295

3,071

6,031

10,712

3,140

2,731

Unrealized gain (loss) on securities available for sale

4,314

-2,308

-

-

-

-

-

-

-

-

-

Transfers from loans to loans held for sale

-

-

-

-

-

-

23,635

0

-

-

-

Transfers from loans held for sale to loans

-

-

-

-

-

3,521

0

0

0

-

-

Change in unrealized (gain) loss on securities available for sale

-

-

-155

-1,664

119

-529

-

-

-

-

-

Amortization of unrealized loss on securities transferred from available for sale to held to maturity

29

30

30

29

76

-

-

-

-

-

-

Tangible assets acquired (net of cash received)

-

-

129,188

-

-

-

-

-

-

-

-

Identifiable intangible assets acquired

-

-

3,954

-

-

-

-

-

-

-

-

Liabilities assumed

-

-

212,463

-

-

-

-

-

-

-

-