South state corp (SSB)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

24,110

49,091

51,565

41,460

44,367

49,004

47,082

40,459

42,326

2,421

35,046

31,823

18,264

24,177

28,095

24,516

24,494

25,535

25,140

24,872

23,926

21,248

19,326

17,946

16,917

13,984

12,054

12,532

10,649

5,911

9,062

8,031

7,028

4,829

10,332

4,918

2,516

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

7,853

8,140

8,144

8,310

8,527

8,832

8,839

9,086

8,939

7,674

6,966

7,014

7,050

5,566

5,451

5,423

5,142

5,766

5,173

5,178

5,353

5,334

5,306

5,173

5,367

5,684

4,865

3,446

3,500

3,116

3,081

3,141

2,754

2,983

2,691

2,612

2,481

Provision for loan losses

36,533

3,557

4,028

3,704

1,488

3,734

3,117

4,478

2,454

3,808

2,062

2,313

3,707

621

912

2,729

2,557

826

1,075

3,145

818

1,481

2,091

2,169

849

-12

659

179

1,060

2,211

4,043

4,642

2,723

7,057

8,323

4,215

10,641

Deferred income taxes

-4,878

-2,949

0

-541

1,998

5,279

4,380

1,524

3,993

2,496

-896

2,482

1,558

1,756

2,107

4,280

1,235

5,835

3,533

-2,303

-17

18,504

7,381

-2,383

2,303

-9,645

8,983

517

2,212

149

24,455

-21,392

110

-12,108

2,012

-1,042

937

Gains on sale of securities, net

-

24

437

1,709

541

-

-

-

-

-

-

-

-

0

0

0

122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10

0

10

323

Gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

11,001

0

5,528

Share-based compensation expense

2,007

2,197

2,285

2,226

2,131

2,170

2,260

2,360

1,993

1,967

1,779

1,490

1,698

1,516

1,540

1,798

1,366

1,489

1,407

1,694

1,213

886

1,015

1,123

884

990

791

758

783

449

415

449

428

436

432

435

474

Amortization of FDIC indemnification asset

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,091

1,475

1,467

1,871

2,042

3,207

39,613

-4,825

-5,815

-7,078

-

-

-7,310

-7,171

-6,547

-6,623

-4,370

-3,233

-3,086

-3,515

-3,133

-401

Accretion of discount related to performing acquired loans

10,931

3,855

2,613

3,348

3,170

3,763

6,742

7,595

9,656

6,114

2,236

3,344

4,199

1,004

1,388

1,211

1,584

11,415

-1,566

-1,611

-1,600

17,827

-2,394

-2,232

-2,954

-3,220

-2,362

22,227

-23,370

-

-16,004

-11,869

-9,110

-4,194

5,977

-19,486

1,604

(Gains) losses on disposal of premises and equipment

263

31

75

-3,452

-271

-264

-38

-1,338

72

-6

-186

0

15

8

19

31

2

-144

-131

-257

-44

12

-1,115

-291

4

1

10

-10

-5

-8

0

-1

-1

-2

-13

-17

-31

(Gains) losses on sale of OREO

-69

-705

147

378

2

399

1,366

146

58

-103

-186

138

50

63

189

339

1,144

182

726

559

207

735

1,458

2,656

2,712

4,548

3,833

2,394

2,582

1,521

1,602

3,042

2,317

-

-

-

-

Net amortization of premiums on investment securities

2,055

1,950

1,985

1,626

1,699

1,871

1,853

1,877

1,966

1,785

1,730

1,616

1,722

1,314

1,388

1,399

1,308

7,708

-1,083

-1,032

-1,178

7,148

-1,053

-1,006

-998

-903

-731

-1,037

-1,246

-1,222

-1,107

-992

-572

-546

-447

-291

-398

OREO write downs

111

466

240

389

98

235

253

155

777

29

491

793

936

331

1,127

145

2,798

1,755

3,359

2,099

2,215

2,012

2,949

2,723

3,001

2,929

1,658

952

2,570

-458

4,610

162

8,876

-

-

-

-

Fair value adjustment for loans held for sale

-926

-2,520

733

886

-156

178

-491

7

-215

-115

-465

616

716

1,227

-67

-787

122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Originations and purchases of loans held for sale

243,950

268,502

259,928

204,496

127,166

139,634

166,891

170,569

154,234

123,944

190,786

203,598

164,075

213,717

228,489

196,626

132,273

118,804

219,065

264,792

241,740

186,042

232,966

185,095

141,939

172,477

241,563

216,399

216,333

-

-

-

-

-

-

-

-

Proceeds from sales of loans

232,520

299,053

219,597

189,111

116,951

150,283

170,599

176,280

182,649

170,376

210,925

183,976

180,594

218,971

220,431

183,420

138,866

125,613

243,052

278,405

217,101

182,364

232,770

168,277

132,935

194,359

256,940

218,868

231,163

-

-

-

-

-

-

-

-

Net change in:
Accrued interest receivable

923

643

-2,519

1,685

968

1,188

1,058

2,576

-1,553

1,723

1,033

646

-1,204

1,117

-689

161

947

469

-29

388

-111

-768

1,786

-42

2,385

-4,415

1,850

-868

2,480

-2,570

94

-502

-2,274

-1,348

784

-651

-726

Prepaid assets

-651

1,565

-1,179

-36

2,061

-118

-1,885

-474

526

1,859

-1,478

381

-768

241

-685

1,613

-365

1,063

-1,159

729

243

-369

-1,959

-781

-2,105

2,428

-2,229

-2,886

949

-131

-815

253

-546

-995

-189

-1,715

-844

Operating Leases

-268

-323

-630

-248

-256

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Derivative assets

45,690

-

-

-

3,637

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FDIC indemnification asset

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-4,012

835

-16,271

1,221

3,636

2,241

79,958

-7,958

-10,725

-18,884

-14,452

-9,987

-12,982

-14,660

-21,602

-19,626

-26,391

-28,088

-8,918

-71,783

-1,462

4,675

Miscellaneous other assets

9,086

-5,036

11,674

28,460

9,669

-538

10,525

5,432

-14,251

26,480

4,930

-975

1,889

5,816

186

-161

7,958

5,648

-1,453

1,759

-1,093

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued interest payable

-853

-120

-1,132

480

969

440

397

318

775

-788

309

50

-519

-25

-265

-277

-264

-112

-187

-675

-1,147

-1,267

-48

-572

-534

-2,287

-834

-210

-585

21,556

-422

-455

-566

-418

-1,282

-834

-1,848

Accrued income taxes

9,131

-11,161

2,155

-8,761

9,231

-506

-5,755

-580

6,984

-8,804

4,965

332

5,466

-6,670

3,588

-7,878

11,065

-2,340

2,574

1,794

11,067

-14,996

-17,524

986

10,725

7,173

26,243

1,522

5,379

-3,431

-19,639

11,836

-1,268

3,389

-2,706

1,007

374

Derivative liabilities

38,143

-

-

-

3,030

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Miscellaneous other liabilities

5,132

-27,150

9,719

59,586

-6,132

-17,531

16,702

2,342

1,846

2,594

7,486

8,666

-11,670

-1,325

4,255

6,612

-474

-5,273

7,553

3,183

-7,414

-8,617

-24,182

-8,177

19,817

-8,120

3,463

-2,547

11,726

-49,877

-707

33,265

8,398

-25,089

57,545

-14,463

-3,225

Net cash provided by operating activities

41,083

51,998

28,773

62,743

37,514

59,928

63,597

54,441

105,745

49,957

72,738

33,929

41,266

25,493

39,665

25,993

46,860

36,983

78,354

54,332

17,199

23,978

30,760

32,208

31,701

71,544

78,850

69,638

22,373

134,363

7,724

-17,639

46,077

84,140

20,233

6,345

44,227

Cash flows from investing activities:
Proceeds from sales of investment securities available for sale

-

10,743

42,663

54,841

134,486

5,201

16,031

46,607

5,215

108,973

49,978

5,044

210,943

0

0

0

137

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

190

52,092

Proceeds from maturities and calls of investment securities held to maturity

-

-

-

-

-

500

0

775

1,255

-

-

-

-

759

1,071

0

1,395

-

-

-

-

730

0

0

1,535

0

0

2,171

843

-

-

-

-

2,130

400

630

210

Proceeds from maturities and calls of investment securities available for sale

113,381

99,469

95,601

57,797

55,242

51,182

58,706

56,853

57,972

53,458

51,049

75,107

56,143

59,467

89,345

115,518

119,247

47,875

79,378

54,196

42,301

37,447

47,796

37,488

29,157

20,628

32,238

32,409

56,888

28,276

24,831

32,409

16,066

29,804

29,552

21,811

18,859

Proceeds from sales and calls of other investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,392

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of other investment securities

-

0

0

0

45

0

2,763

11,050

2,125

11,858

637

425

2,382

0

47

10

14

138

0

0

95

411

0

0

2,868

0

15,056

0

1,963

-

-

-

-

-

-

-

-

Purchases of investment securities available for sale

90,134

263,391

228,641

340,699

122,774

8

60,927

50,717

79,661

57,693

81,656

40,604

61,321

153,797

30,886

123,851

77,279

180,863

118,664

96,718

39,836

35,511

60,992

43,418

27,413

165,894

36,433

47,302

37,283

19,997

20,948

38,776

50,357

37,906

64,798

39,824

3,744

Purchases of other investment securities

13,869

0

0

8,500

15,066

6,375

2,763

6,800

2,556

4,250

0

0

303

0

0

0

660

-

-

-

-

2,132

0

0

6,186

-

-

-

-

-

-

-

-

0

411

0

630

Net increase in loans

129,458

82,762

65,899

86,945

127,840

108,097

75,422

197,448

10,461

103,189

84,595

272,106

176,946

157,102

112,259

255,937

165,197

143,842

91,442

91,866

-8,214

-

-

-

-

-

-

-

-

-

29,060

7,819

-11,103

-

27,913

7,202

-31,949

Net cash received from acquisitions

-

-

-

-

-

-

-

-

6

114,975

-1,419

0

71,607

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recoveries of loans previously charged off

1,909

1,081

884

991

958

614

582

1,138

966

975

1,115

609

731

932

974

881

765

-

-

-

-

-

-

-

-

-

-

-

1,045

-

-

-

-

-

-

-

-

Net increase in loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,161

-64,992

46,276

20,332

83,633

-24,511

54,021

-92,896

9,422

30,092

51,321

-37,352

-15,161

-15,205

-7,174

Net cash received from branch acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

749

-

-

-

-

-

-

-

-

1

45,435

0

91,281

Purchases of premises and equipment

2,193

4,265

3,417

4,680

3,436

5,034

2,236

3,653

3,615

6,068

3,000

1,876

4,219

7,476

5,939

6,597

5,784

3,548

4,246

4,167

3,264

2,850

3,097

4,772

5,389

6,460

2,348

2,007

2,936

-3,122

6,231

3,164

2,114

6,541

5,033

5,920

1,969

Proceeds from sale of OREO

988

1,045

2,977

3,409

1,019

2,288

7,933

1,206

2,516

7,420

3,654

5,420

2,257

6,173

3,183

6,987

7,222

6,931

11,334

5,697

11,158

16,781

11,813

23,219

13,070

27,802

17,185

16,037

11,356

25,086

13,123

21,225

16,536

-

-

-

-

Proceeds from sale of premises and equipment

9

-6

9

2

6

113

15

12

6

0

0

0

15

-

-

-

-

14

0

0

25

8

2,477

1,431

6

-

-

-

-

25

18

5

10

-

-

-

-

Net cash used in investing activities

-119,367

-238,086

-155,823

-323,784

-77,360

-59,616

-55,318

-140,983

-26,232

127,609

-63,747

-226,051

101,289

-251,036

-54,412

-265,331

-120,140

-270,495

278,655

-131,260

20,085

-37,289

-5,164

-21,717

54,673

-103,577

460,351

-23,203

84,852

35,679

28,318

82,399

31,462

-32,245

33,585

-34,920

148,925

Cash flows from financing activities:
Net increase in deposits

167,451

153,309

101,508

3,308

272,038

33,058

-24,414

-24,197

130,332

19,367

30,367

-1,784

178,095

87,003

83,480

1,982

61,528

22,422

-27,808

33,871

172,612

-57,186

-57,908

-54,517

75,156

-107,607

-41,675

-36,387

-79,004

-42,569

-71,672

-130,735

102,164

-33,181

-118,756

-113,722

-25,247

Net increase in federal funds purchased and securities sold under agreements to repurchase and other short-term borrowings

26,982

29,669

-28,958

21,139

6,242

-9,049

-52,271

-25,605

70,717

-4,242

-42,919

-18,414

37,645

8,505

-35,796

29,030

23,803

27,711

-27,381

11,128

55,233

-9,688

-49,366

25,610

43,584

-22,391

-28,655

-66,254

90,080

-1,200

6,066

-24,690

54,976

-4,248

-2,472

-19,330

13,712

Proceeds from other borrowings

500,000

-

-

-

500,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from FHLB advances

-

-

-

-

-

-

65,000

210,001

50,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of other borrowings

2

2

1

2

150,002

115,002

65,002

310,002

50,001

308,778

15,001

10,001

57,031

2

1

9

2

-

-

-

-

-

-

-

-

-

-

-

-

-

298

291

286

-

-

-

-

Preferred stock redeemed

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

65,000

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of FHLB advances and other borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

1

46,394

-

2

0

1,184

-629

255,440

321

311

-

-

-

-

0

20,790

0

38,338

Common stock issuance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

352

167

330

34,684

Common stock repurchases

26,578

12,534

64,794

47,318

34,785

60,217

8,634

114

1,612

1,886

21

358

3,247

601

778

192

4,410

4,530

26

94

981

513

109

42

253

260

308

60

305

162

346

109

219

90

93

22

137

Dividends paid on preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,073

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on common stock

15,840

15,521

14,684

14,050

13,441

13,051

12,855

12,513

12,138

9,667

9,659

9,651

9,646

7,751

7,505

7,258

6,771

6,297

6,050

5,807

5,556

5,311

5,068

4,827

4,579

4,575

4,572

3,065

3,062

2,722

2,569

2,564

2,389

2,383

2,379

2,381

2,371

Stock options exercised

403

0

828

0

402

1

0

965

66

831

0

827

307

691

705

193

615

157

19

272

667

438

142

0

129

831

469

69

516

345

738

149

12

308

210

143

70

Net cash provided by financing activities

652,416

155,598

-5,727

163,421

580,454

101,362

-97,819

-161,113

187,364

-203,873

-36,947

-39,114

146,123

92,474

40,352

23,973

74,763

39,926

-61,011

39,576

175,581

-71,848

-112,091

-33,583

46,780

-133,806

-330,516

-105,823

7,914

-67,242

-67,895

-158,065

154,258

-39,242

-144,113

-134,982

-17,627

Net increase in cash and cash equivalents

574,132

-30,490

-132,777

-97,620

540,608

101,674

-89,540

-247,655

266,877

-26,307

-27,956

-231,236

288,678

-133,069

25,605

-215,365

1,483

-193,586

295,998

-37,352

212,865

-85,159

-86,495

-23,092

133,154

-165,839

208,685

-59,388

115,139

102,800

-31,853

-93,305

231,797

12,653

-90,295

-163,557

175,525

Supplemental Disclosures:
Interest

20,640

21,118

23,761

22,322

19,154

17,036

14,874

11,852

8,300

6,337

3,784

3,699

4,142

2,112

2,301

2,258

2,477

2,456

2,734

3,161

4,098

3,751

4,029

4,419

4,540

8,864

-69

2,457

2,811

2,227

3,047

2,280

3,749

4,256

5,169

6,164

7,281

Income taxes

845

23,746

11,025

20,029

874

7,960

12,185

11,010

786

22,494

13,684

11,090

760

14,126

8,688

16,010

666

9,429

7,536

12,740

1,670

13,778

9,200

12,618

421

7,950

3,372

4,472

564

-11,712

10

13,407

4,799

-

-

-

-

Initial measurement and recognition of operating lease assets in exchange for lease liabilities per ASU 2016-02

-

0

0

0

82,160

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognition of operating lease assets in exchange for lease liabilities

458

0

5,289

2,994

1,956

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Schedule of Noncash Investing Transactions:
Acquisitions:
Fair value of tangible assets acquired

-

-

-

-

-

-1

-178

-7,063

-5

3,082,457

1,285

0

1,816,592

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other intangible assets acquired

-

-

-

-

-

-

-

-

-

26,175

0

0

18,120

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liabilities assumed

-

-

-

-

-

-

-

-

-

2,818,624

2,210

0

1,656,967

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net identifiable assets acquired over liabilities assumed

-

-

-

-

-

-1

-178

-3,130

-5

290,008

-925

0

177,745

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issued in acquisition

-

-

-

-

-

-

-

-

-

-180,700

434,625

434,625

434,625

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Real estate acquired in full or in partial settlement of loans

2,048

-944

1,978

6,628

1,004

1,415

1,717

7,364

2,895

3,183

3,428

663

4,284

2,546

3,905

3,267

4,275

7,680

10,303

6,183

6,536

9,534

10,820

12,873

12,588

14,715

11,542

11,335

16,728

6,258

6,306

11,965

22,060

7,637

28,800

15,466

9,232