STERLING BANCORP STL Cash Flow

Sterling bancorp (STL)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Sep'14	Sep'13	Sep'12	Sep'11	Sep'10	Sep'09
Cash flows from operating activities:
Net income
427,041	447,254	93,031	139,972	66,114	27,678	25,254	19,888	11,739	20,492	25,861
Adjustments to reconcile net income to net cash provided by operating activities:
Provisions for credit losses
45,985	46,000	26,000	20,000	15,700	19,100	12,150	10,612	16,584	10,000	17,600
Net (gain) from write-downs and sales of other real estate owned
593	1,001	-1,715	-294	1,066	1,208	-1,285	-694	-869	18	-186
Income from termination of defined benefit pension plan
-	-	-	-	-13,384	-4,095	0	-	-	-	-
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement
11,817	0	0	-	-	-	-	-	-	-	-
(Gain) loss on extinguishment of debt
46	172	0	-9,729	0	712	0	0	-	-	-
Fair value loss on interest rate cap
-	-	-	-	-	-	-	-	-	-1,106	-
Gain (Loss) on Disposition of Property Plant Equipment
0	11,800	-1	0	-116	93	-75	75	0	-54	517
Depreciation of premises and equipment
19,926	20,349	11,670	8,375	7,476	6,507	4,243	4,746	6,177	5,144	4,675
Asset write-downs, retention and severance compensation and other restructuring charges
8,477	4,396	105,110	4,485	40,350	11,043	0	-	-	-	-
Impairment on fixed assets
10,751	6,769	0	-	-	-	-	-	-	-	-
Impairment from early termination of leases
-3,647	-1,967	0	-	-	-	-	-	-	-	-
Impairment of premises and equipment and leases
-	-	-	-	-	-	-	0	-	-	-
Amortization of intangible assets
19,181	23,646	13,008	12,416	10,043	9,408	1,296	1,245	1,426	1,849	2,185
Amortization of low income housing tax credits
16,718	6,655	1,067	536	-	-	0	0	-	-	-
Net (gain) loss on sale of securities
-6,905	-10,788	-344	7,522	4,837	641	7,391	10,452	10,011	8,157	18,076
Other than temporary impairment loss recorded in earnings
-	-	-	-	-	-	-	-	-	0	-
Write down on assets held for sale
-	-	-	-	-	-	-	-	-	0	-
Net gain on loans held for sale
8,313	41	954	7,591	11,405	8,086	1,979	1,897	1,027	867	961
Net amortization of premiums on securities
-34,109	-38,985	-24,061	-16,024	-5,916	-3,176	-2,068	1,006	-3,181	-3,209	-1,715
Amortization of premium on certificates of deposit
3,819	6,178	1,722	0	0	-	-	-	-	-	-
Net (gain) on sale of trust division
-	-	-	2,255	0	0	-	-	-	-	-
Net accretion of purchase discount and amortization of net deferred loan costs
90,011	110,942	44,242	18,093	10,555	-2,330	-2,516	1,459	0	-	-
Amortization of payment fees on restructured borrowings
-	-	-	-	-	-	-	-	-3,201	0	-
Net accretion of debt issuance costs and amortization of premium on borrowings
-1,540	-1,748	144	1,053	-81	-446	87	-67	-30	-223	-440
Amortization of pre-payment penalties on restructured borrowings
-	-	-	-	-	-	-	-	1,033	0	-
Restricted stock compensation expense
19,473	12,978	7,961	6,114	3,671	2,803	1,544	667	558	247	768
Stock option compensation expense
0	6	149	404	909	901	695	521	607	1,325	2,178
ESOP forfeitures
-	-	-	-	-	-	-	-	-	-29	-4
Originations of loans held for sale
8,000	52,919	6,224	447,950	599,853	462,030	85,657	80,579	49,807	52,839	50,677
Proceeds from sales of loans held for sale
28,687	33,005	44,318	447,762	623,747	483,622	94,130	79,147	52,548	49,029	49,653
Increase in cash surrender value of bank owned life insurance
20,670	15,651	7,816	5,832	5,235	3,198	1,998	2,050	2,049	1,327	1,961
Increase in assets held for sale
-	-	-	-	-	-	-	-	-	0	-
Deferred income tax expense
-81,176	-56,903	-81,383	890	-339	3,059	-719	64	-118	-26	1,640
Net changes in accrued interest receivable and payable
-	-	-	-	-	-	-	-	-	1,536	585
Trade date securities
-	-	-	-	-	-	-	-	-	0	-
Other adjustments (principally net changes in other assets and other liabilities)
-139,198	-114,474	-106,399	21,868	-62,977	36,474	-26,413	2,237	-8,639	-5,624	-9,273
Net cash provided by operating activities
438,069	394,775	242,605	198,899	91,756	127,664	22,624	25,026	26,478	21,861	20,687
Cash flows from investing activities:
Purchases of securities:
Available for sale
226,689	873,557	1,585,174	976,383	1,113,952	407,438	490,160	679,553	622,551	830,613	708,727
Held to maturity
22,700	145,685	1,556,670	751,206	193,282	172,899	169,320	95,157	93,764	23,023	25,095
Proceeds from maturities and other principal payments on securities:
Available for sale
464,261	345,037	276,872	286,371	135,978	163,199	168,771	174,497	251,774	328,993	153,585
Held to maturity
106,098	177,790	70,847	73,925	45,340	31,227	55,866	63,037	17,220	33,780	22,548
Proceeds from sales of securities available for sale
1,386,236	186,914	2,516,308	858,531	893,610	529,107	339,123	344,431	540,145	443,389	556,796
Proceeds from sales of securities held to maturity
0	254	0	0	-	-	1,187	0	357	-	625
Proceeds from Sale and Maturity of Held-to-maturity Securities
-	-	-	-	-	-	-	-	-	0	-
Portfolio loan originations, net
953,920	123,454	1,054,704	1,298,341	1,266,519	659,013	310,615	226,616	578,631	472,066	450,551
Portfolio loans purchased
0	113,698	226,831	163,320	0	0	-	-	-	-	-
Loan principal payments
-	-	-	-	-	-	-	-	-553,235	-461,632	469,157
Purchase of interest rate cap derivatives
-	-	-	-	-	-	-	-	-	1,368	-
Redemptions of FHLB and FRB stock, net
-117,885	85,578	149,014	18,340	35,491	34,093	5,063	620	-1,988	-3,605	-5,498
Proceeds from sales of other real estate owned
14,072	23,942	8,881	6,205	3,566	9,645	4,730	3,468	301	0	-
Purchases of premises and equipment
23,705	24,015	8,259	4,155	8,047	2,584	2,355	1,853	3,465	8,152	8,852
Proceeds from bank owned life insurance
64,317	13,294	3,585	2,231	3,700	0	-	-	-	-	-
Proceeds from sale of Hudson Valley Investment Advisors
-	-	-	-	-	-	4,738	0	0	-	-
Proceeds from sale of premises and equipment
30,152	58,551	0	0	-	310	0	75	0	48	718
Premiums paid for bank owned life insurance
-	-	-	-	-	0	0	0	3,980	0	-
Purchases of low income housing tax credits
96,342	20,810	14,284	0	0	1,966	0	0	-	-	-
Cash paid for acquisition, net
1,361,804	481,544	-275,409	346,690	-854,318	-277,798	0	-	0	0	-
Net cash provided by investing activities
1,032,750	-1,062,559	-1,409,294	-2,210,144	-636,759	-266,707	-403,098	-291,473	62,629	-63,775	15,702
Cash flows from financing activities:
Net increase (decrease) in transaction, savings and money market deposits
233,390	638,651	1,309,621	1,509,054	186,431	301,028	-29,503	499,340	227,907	177,808	124,037
Net (decrease) increase in certificates of deposit
974,939	43,471	117,985	-20,802	20,505	-261,858	-119,354	-53,786	-73,914	-117,388	-30,952
Net (decrease) in short-term FHLB borrowings
792,000	260,000	189,000	331,000	127,000	112,383	36,633	-5,000	34,840	62,500	-153,791
Advances of term FHLB borrowings
2,350,000	4,025,000	3,978,415	1,050,000	605,000	375,000	90,000	5,000	-	-	-
Repayments of term FHLB borrowings
4,150,000	3,435,000	2,659,464	999,896	325,243	236,877	10,322	10,244	-	-	-
Increase in long-term borrowings
-	-	-	-	-	-	-	-	0	-	22,840
Payments of pre-payment fees on FHLB borrowings
-	-	-	-	-	-	-	278	5,151	0	-
Restructured debt
-	-	-	-	-	-	-	-	-	0	-
Repayment of Senior Notes
6,954	96,455	0	23,793	0	0	-	51,499	0	0	-
Net increase in other borrowings
1,340	-8,824	13,520	76	-18,646	-37,177	-	-	-	-	-
Gross repayments of long-term borrowings
-	-	-	-	-	-	-	-	1,238	4,152	3,995
Net (decrease) in repurchase agreements and other short-term borrowings
-	-	-	-	-	-	0	0	-	-	-
Repayment of debt assumed in acquisition
0	0	-1,143,279	0	-4,485	0	0	-	-	-	-
Proceeds from Issuance of Subordinated Long-term Debt
270,941	0	0	171,813	0	0	-	-	-	-	-
Redemption of Subordinated Debentures
-	-	-	-	-	26,140	0	0	-	-	-
Net increase in mortgage escrow funds
14,575	49,750	31,198	206	-4,995	8,152	727	2,218	1,503	-207	-1,133
Proceeds from stock option exercises
2,909	691	2,578	3,588	2,764	3,042	97	266	4	1,008	473
Other stock-based compensation transactions
-	-	-	-	-	-	-	-	45	87	128
Proceeds from issuance of common equity
-	-	-	90,995	85,059	0	0	46,000	0	0	-
Net proceeds from Senior Notes
-	-	-	-	-	-	97,946	0	0	-	51,500
Treasury shares repurchased
382,883	159,903	0	0	-	-	-	-	3,810	13,062	3,785
Cash dividends paid - common stock
58,110	63,118	44,035	36,451	30,384	-	-	-	-	-	-
Cash dividends paid - preferred stock
8,775	8,775	2,194	0	0	-	-	-	-	-	-
Cash dividends paid
-	-	-	-	-	17,677	10,642	9,100	8,973	9,216	9,379
Net cash (used in) financing activities
-1,579,778	625,988	1,352,949	2,075,378	652,996	203,572	55,582	422,917	101,533	-27,622	-1,791
Net increase (decrease) in cash and cash equivalents
-108,959	-41,796	186,260	64,133	107,993	64,529	-324,892	156,470	190,640	-69,536	34,598
Supplemental cash flow information:
Interest payments
284,575	236,807	114,391	57,971	37,198	29,419	18,831	18,447	21,815	27,379	38,714
Income tax payments
62,368	32,365	69,675	64,904	39,315	12,473	4,475	1,873	9,070	7,993	11,739
Real estate acquired in settlement of loans
6,291	15,223	7,967	4,780	11,025	2,542	5,634	6,148	1,932	2,943	-
Unsettled securities transactions
-	-	-	24,720	0	0	-	41,758	0	0	-
Loans transferred from held for investment to held for sale
125,555	1,540,819	33,740	121,028	44,020	0	0	0	-	-	-
Loans transferred to real estate owned
-	-	-	-	-	-	-	-	-	-	1,815
Change in net unrealized gains recorded on securities available for sale
-	-	-	-	-	-	-	-	-	-	25,900
Change in deferred taxes on net unrealized gains on securities available for sale
-	-	-	-	-	-	-	-	-	-	-10,506
Securities available for sale transferred to held to maturity
-	-	-	-	-	0	0	0	-	-	-
Securities held to maturity transferred to available for sale
708,627	0	0	-	-	0	0	0	-	-	-
Residential loans transferred from held for sale to portfolio
127,833	0	0	-	-	-	-	-	-	-	-
Right-of-use assets obtained in exchange for lease liabilities
112,226	0	0	-	-	-	-	-	-	-	-
Acquisitions:
Non-cash assets acquired:
Securities available for sale
0	0	243,017	0	710,230	233,190	0	54,994	0	0	-
Securities held to maturity
0	0	2,858,776	0	3,611	374,721	0	0	-	-	-
Loans held for sale
0	0	497	0	0	30,341	0	0	-	-	-
Total loans, net
1,217,188	439,622	9,209,398	320,447	1,814,826	1,698,108	0	205,453	0	0	-
FRB stock
-	-	-	0	5,830	7,680	0	-	-	-	-
FHLB stock
-	-	-	-	-	-	-	1,045	0	0	-
Accrued interest receivable
2,854	0	34,094	1,443	7,392	6,590	0	417	0	0	-
Goodwill
70,449	39,356	883,291	25,698	281,773	224,208	0	5,535	0	0	-
Core deposit and other intangibles
0	0	99,938	1,500	42,789	-	-	-	-	-	-
Core deposit and other intangibles
-	-	-	-	-	20,089	0	4,818	0	0	-
Trade name
-	-	-	-	-	20,500	0	0	-	-	-
Bank owned life insurance
0	0	447,518	0	44,231	55,374	0	0	-	-	-
Premises and equipment, net
0	379	267,815	176	17,063	23,594	0	490	0	0	-
Other real estate owned
0	0	16,105	0	222	5,815	0	0	-	-	-
Other assets
75,379	7,071	335,612	2,265	25,871	22,534	0	1,793	0	0	-
Total non-cash assets acquired
1,365,870	486,428	14,396,061	351,529	2,953,838	2,722,744	0	274,545	0	0	-
Liabilities assumed:
Deposits
0	0	9,044,061	0	3,160,746	2,297,190	0	368,902	0	0	-
Escrow deposits
0	0	140,267	0	4,616	0	0	-	-	-	-
FHLB and other borrowings
0	0	1,589,464	0	0	100,619	0	30,784	0	0	-
Other borrowings
0	0	1,143,279	0	25,366	62,465	0	0	-	-	-
Subordinated debentures
0	0	201,520	0	0	26,527	0	0	-	-	-
Other liabilities
4,066	4,884	223,780	4,839	50,181	55,960	0	1,677	0	0	-
Total liabilities assumed
4,066	4,884	12,342,371	4,839	3,240,909	2,542,761	0	401,363	0	0	-
Preferred stock assumed
0	0	139,412	0	0	-	-	-	-	-	-
Net non-cash assets acquired
1,361,804	481,544	1,914,278	346,690	-287,071	179,983	0	-126,818	0	0	-
Cash and cash equivalents acquired in acquisitions
0	20,508	275,409	4,762	879,240	277,798	0	126,818	0	0	-
Total consideration paid
1,361,804	502,052	2,189,687	351,452	592,169	457,781	0	-	-	-	-
Commercial
Proceeds from sale of loans held for investment
125,555	0	33,740	121,028	44,020	0	0	0	-	-	-