United financial bancorp, inc. (UBNK)
CashFlow / TTM
Jun'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 (Loss) Attributable to Parent

37,882

56,776

59,906

57,242

56,125

56,679

54,618

59,667

58,635

51,493

49,661

45,013

44,235

48,509

49,640

41,159

37,763

18,860

6,782

7,118

1,753

10,623

14,227

16,795

16,843

16,493

15,797

15,460

14,875

11,969

7,092

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of premiums and discounts on investments, net

-4,420

-4,595

-4,033

-4,091

-4,170

-4,277

-4,066

-4,306

-4,707

-5,120

-5,410

-5,270

-5,179

-5,358

-5,041

-4,852

-4,387

-3,313

-2,680

-1,838

-1,092

-645

-471

-536

-570

-544

-470

0

0

0

-

-

-

-

Amortization of intangible assets and purchase accounting marks, net

-2,490

-2,139

-1,911

-1,400

-1,319

-1,188

-1,292

-1,040

-650

-852

1,019

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of intangible assets and purchase accounting marks

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of subordinated debt issuance costs

95

126

126

126

126

126

126

126

126

126

126

126

126

126

126

126

97

66

34

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

2,133

2,343

2,481

2,807

2,630

2,720

2,699

2,761

2,715

2,449

2,252

1,930

1,573

1,309

1,076

1,038

1,149

3,721

3,957

4,144

4,347

2,393

2,665

2,873

3,301

3,651

2,976

2,328

1,569

613

625

0

0

0

ESOP expense

351

369

378

393

394

394

400

388

365

343

308

293

292

291

299

668

1,001

1,361

1,727

1,719

1,735

1,724

1,700

1,680

1,638

1,583

1,529

0

0

0

-

-

-

-

Tax benefit from stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of ESOP expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Provision for loan losses

9,140

9,018

8,914

8,546

9,105

9,047

9,396

10,505

11,705

13,037

13,437

13,858

13,344

14,182

13,005

13,558

12,939

10,557

9,496

5,883

3,782

2,105

2,046

2,235

2,496

3,274

3,587

3,439

3,400

2,973

3,021

0

0

0

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-1,454

-1,454

-1,454

-1,454

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax effects of share-based awards

-

-

-

-

-

-

-

-

-

-

486

233

-393

-735

-317

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sales of securities, net

-

766

-

-

-

441

782

804

694

966

1,961

2,167

2,060

2,053

939

580

1,069

1,298

1,228

1,287

886

626

585

1,164

1,349

1,138

914

0

0

0

-

-

-

-

Net realized (gain) loss on marketable equity securities

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary impairment losses on equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29

0

0

0

Loans originated for sale

273,717

350,430

372,286

363,005

346,959

357,075

384,195

359,795

426,794

411,341

422,183

471,526

428,522

421,300

406,960

332,551

266,120

197,227

145,124

78,658

106,353

119,381

144,597

214,456

206,874

155,122

126,700

116,448

71,305

69,405

56,843

0

0

0

Principal balance of loans sold

320,366

397,652

407,571

365,476

418,988

380,712

332,639

353,697

299,865

331,870

369,802

401,716

420,620

426,742

405,044

322,989

261,378

187,007

137,326

110,901

78,996

121,086

149,467

185,384

221,332

154,527

125,825

136,535

70,707

70,304

57,223

0

0

0

Decrease (increase) in mortgage servicing asset

1,015

-1,358

-3,006

-3,249

-3,507

-3,049

-1,629

-4,055

-3,583

-4,013

-3,030

-1,101

-595

-1,350

-2,345

-1,443

-1,715

-330

-138

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on sales of other real estate owned

206

304

291

286

380

395

409

281

94

140

121

188

184

271

218

366

406

332

409

205

155

-73

-85

-101

-98

-74

-84

122

131

135

93

0

0

0

Net change in mortgage banking fair value adjustments

224

-24

-1,501

-1,842

-2,980

-811

1,303

53

2,244

46

-139

1,269

-4,644

-211

-39

706

3,926

414

356

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net gain from sale of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,131

6,909

5,952

4,417

0

0

0

-

-

-

-

Loss on disposal of equipment

-102

-29

-68

-475

-475

-413

-365

32

-152

-215

-178

-166

-7

-130

-191

-1,403

-1,378

-1,254

-1,210

0

0

0

-

-

-

-

-

-

-

-

-110

0

0

0

Write-downs of other real estate owned

202

282

362

444

411

493

424

464

353

158

126

4

4

61

118

197

197

192

213

250

275

279

287

171

146

86

183

0

0

0

-

-

-

-

Depreciation and amortization of premises and equipment

8,806

8,611

8,370

7,426

6,896

6,391

5,919

5,614

5,603

5,556

5,516

5,451

5,402

5,384

5,340

5,222

4,947

4,476

3,762

3,049

2,471

2,556

2,383

2,264

2,106

1,480

1,379

1,307

1,288

1,296

1,317

0

0

0

Net loss on limited partnership investments

-9,127

-2,189

-2,176

-3,212

-3,855

-3,533

-3,023

-2,287

-2,273

-3,139

-3,995

-4,089

-4,230

-3,642

-3,136

-4,385

-5,570

-4,654

-4,224

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax expense (benefit)

-1,479

-1,207

-2,464

5,307

1,233

10,748

12,338

4,919

7,479

-3,717

-4,352

-3,367

-2,378

2,301

3,582

5,177

5,863

9,536

7,361

6,576

6,815

-1,773

410

-1,675

-2,242

346

-1,858

-1,506

-1,042

4,122

3,899

0

0

0

Increase in cash surrender value of bank-owned life insurance

6,023

5,964

5,859

5,483

5,190

4,877

4,656

4,378

4,040

3,705

3,324

3,301

3,365

3,381

3,397

3,454

3,434

3,354

3,042

2,659

2,330

2,104

2,092

2,141

2,124

2,124

1,920

1,649

1,264

837

623

0

0

0

Income recognized from death benefits on bank-owned life insurance

421

630

435

1,233

1,233

1,024

806

8

78

78

70

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use asset depreciation

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of lease liabilities

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease incentives received

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in:
Deferred loan fees and premiums

2,463

3,177

2,992

1,306

89

1,451

3,158

5,084

6,010

5,661

4,618

3,968

3,845

2,983

3,013

2,911

2,395

1,789

1,603

1,018

1,454

1,587

1,632

1,913

1,422

883

276

-210

-316

-127

93

0

0

0

Accrued interest receivable

1,729

2,728

2,491

4,592

3,458

3,207

3,561

3,005

3,116

2,204

3,031

2,411

1,858

1,964

1,528

765

1,049

2,766

2,237

2,564

1,427

478

844

358

962

821

773

1,437

492

-46

-87

0

0

0

Prepaid FDIC assessment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Other assets

37,632

23,538

18,857

14,409

3,141

11,163

14,527

-19,422

-19,943

-30,758

4,327

40,731

55,917

51,134

16,172

31,701

30,769

39,856

33,243

20,712

7,936

5,487

4,340

-2,625

3,680

-1,174

-808

-1,837

-6,508

-1,293

-515

0

0

0

Accrued expenses and other liabilities

27,584

12,584

19,157

7,066

7,887

2,369

866

-24,179

-30,396

-20,146

-4,195

23,916

37,164

24,252

9,637

19,996

10,603

13,308

8,552

-11,725

-2,823

4,595

946

11,944

5,171

-748

4,943

2,455

7,918

7,628

-2,525

0

0

0

Net cash provided by operating activities

99,583

106,981

108,190

72,079

152,230

97,243

13,145

63,293

-62,858

-7,424

-313

-30,267

33,683

40,486

50,770

36,238

25,352

-1,930

-9,599

27,037

-21,663

19,692

24,142

-5,645

28,570

16,576

21,084

26,441

31,064

32,275

16,378

0

0

0

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

335,001

257,283

59,761

159,944

189,507

243,385

315,339

240,758

251,010

290,640

268,162

326,681

339,002

272,431

280,564

397,776

412,165

616,510

511,044

308,603

253,400

27,402

44,880

52,958

51,122

54,598

29,285

0

0

0

-

-

-

-

Proceeds from calls and maturities of available-for-sale securities

41,450

27,410

41,235

51,220

63,514

89,050

102,289

101,444

84,588

58,565

27,076

12,491

7,828

2,251

16,655

22,832

26,775

32,624

21,220

0

0

0

-

-

-

-

14,800

0

0

0

-

-

-

-

Principal payments on available-for-sale securities

61,485

59,732

64,335

69,795

75,018

78,159

76,674

86,514

91,869

97,115

95,490

85,061

76,940

82,109

86,128

84,227

86,712

72,943

61,425

50,154

34,510

25,852

26,862

30,122

33,033

34,305

33,393

31,338

27,613

23,774

20,673

0

0

0

Principal payments on held to maturity securities

-

-

-

-

-

-

402

433

463

464

496

524

674

741

774

812

741

734

783

912

1,226

1,751

2,373

2,925

3,180

3,381

3,468

3,564

3,631

3,646

4,173

0

0

0

Purchases of available-for-sale securities

248,748

157,924

100,774

210,854

278,937

373,266

501,803

473,502

452,613

449,148

385,386

378,931

417,326

362,503

398,794

571,560

643,550

1,010,317

885,610

658,721

539,713

191,828

245,609

229,420

230,817

217,723

165,073

191,134

156,151

160,627

107,327

0

0

0

Purchases of held to maturity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,342

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of FHLBB and other restricted stock

-

0

-

-

-

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

Purchase of FHLBB stock

6,613

7,758

8,163

8,396

7,625

8,533

6,324

2,808

3,058

1,005

5,672

15,425

18,928

21,983

19,246

10,724

6,971

3,916

1,860

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of other real estate owned

1,757

2,230

2,792

3,326

3,443

3,058

2,569

2,396

1,683

1,989

2,158

1,688

1,714

2,508

2,683

2,742

3,646

4,217

3,869

4,111

4,169

3,622

4,042

3,766

3,056

2,295

2,113

1,638

1,359

1,082

934

0

0

0

Proceeds from portfolio loan sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

70,715

0

0

0

-

-

-

-

-

-

-

-

Purchases of loans

299,366

266,678

274,865

292,517

332,534

304,271

259,656

257,495

183,609

167,802

176,301

428,989

407,454

370,374

348,175

19,360

17,157

16,040

16,310

12,652

12,616

14,529

14,142

0

0

0

-

-

-

-

-

-

-

-

Loan originations, net of principal repayments

-12,500

90,110

50,399

40,832

101,282

143,761

186,957

236,629

146,641

136,670

119,817

87,180

254,214

374,568

366,495

397,198

364,018

264,533

302,918

307,828

241,348

227,622

170,550

121,463

76,296

74,900

131,424

92,123

121,578

85,666

53,130

0

0

0

Proceeds from bank-owned life insurance death benefits

854

1,568

1,082

2,962

2,974

2,260

1,892

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of bank-owned life insurance

10,000

10,000

40,000

40,000

40,000

40,000

10,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,000

0

0

0

-

-

-

-

Proceeds from redemption of bank-owned life insurance

-26,292

-26,292

0

59,367

59,367

59,367

33,075

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of premises and equipment

4,926

6,226

7,359

14,846

20,900

24,002

23,131

15,805

8,710

4,392

3,465

2,286

1,530

2,447

3,593

5,869

12,241

12,812

12,719

12,448

7,042

6,908

7,108

6,213

7,064

6,588

5,971

4,777

4,117

2,770

2,042

0

0

0

Proceeds from sales of equipment

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-104,005

-176,933

-275,524

-274,005

-398,011

-432,797

-470,082

-582,792

-397,033

-342,742

-332,492

-480,938

-671,963

-770,312

-747,977

-495,803

-513,050

-553,770

-595,384

-580,497

-429,164

-341,774

-301,824

-221,828

-211,386

-180,240

-246,953

-235,395

-241,637

-204,704

-102,386

0

0

0

Cash flows from financing activities:
Net increase (decrease) in non-interest-bearing deposits

72,944

24,394

21,209

34,080

49,065

63,059

70,526

37,265

48,293

11,662

50,332

79,620

77,635

94,987

69,649

-37,324

-39,650

-10,111

2,550

66,886

68,585

48,691

27,685

36,248

27,220

30,112

32,508

77,375

60,000

43,504

47,365

0

0

0

Net increase in interest-bearing deposits

260,307

357,488

451,370

313,587

351,293

429,686

417,251

421,128

490,851

245,822

225,103

354,400

197,457

284,432

335,320

275,334

248,420

420,096

357,800

329,012

379,923

212,881

202,840

178,694

104,247

245,506

145,406

268,483

243,709

57,655

69,826

0

0

0

Net increase in mortgagors’ and investors’ escrow accounts

-15

-414

2,860

44

-2,863

4,687

5,809

8,366

1,349

1,573

172

937

-1,128

881

522

1,459

3,185

2,889

4,604

956

2,895

-199

-434

271

474

850

924

258

138

-278

-279

0

0

0

Net decrease in short-term FHLBB advances

-287,500

-161,500

-218,500

-111,500

-38,500

-122,500

-52,500

-74,000

-148,200

24,800

41,800

2,600

140,000

88,000

88,000

0

0

0

-

-

-

-

-

-

-

-

61,000

0

0

0

-

-

-

-

Repayments of long-term FHLBB borrowings and penalty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

267,035

72,024

21,014

0

36,022

51,021

63,340

73,341

0

0

0

Repayments of long-term FHLBB advances

-

-

-

-

-

-

-

-

-

-

37,796

37,796

37,796

37,796

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term FHLBB advances

-

0

-

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term FHLBB advances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term FHLBB advances

-

0

-

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Net change in other borrowings

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Principal payments on finance leases

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

1,664

2,535

2,247

2,651

3,122

2,264

2,460

3,357

4,520

5,575

6,275

6,619

4,948

5,266

4,765

3,633

3,662

2,739

2,246

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Common stock repurchased

3,606

3,606

5,157

1,551

1,551

1,551

1,312

1,312

1,312

1,312

0

0

0

-523

5,171

49,090

51,812

53,466

47,772

5,318

6,352

27,701

30,028

34,438

31,010

16,327

21,626

0

0

0

-

-

-

-

Common stock purchase for ESOP

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,071

0

0

0

Cancellation of shares for tax withholding

790

794

601

569

710

783

805

577

476

405

327

150

114

156

311

304

304

1,535

1,367

1,261

1,639

347

357

422

270

270

276

275

78

82

93

0

0

0

Tax effects of share-based awards

-

-

-

-

-

-

-

-

-

-

486

233

-393

-661

-317

-22

642

1,200

820

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from stock offering, net of expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-168,044

0

0

0

Cash dividend paid on common stock

24,218

24,210

24,257

24,216

24,168

24,135

24,111

24,058

24,004

23,938

23,836

23,725

23,633

23,548

22,479

21,682

21,020

20,346

18,008

15,380

12,729

10,232

10,453

15,070

15,013

14,825

14,376

9,475

8,823

8,166

7,030

0

0

0

Reissuance of treasury shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Fractional shares distribution

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22

0

0

0

Net cash (used in) provided by financing activities

9,993

155,883

176,630

182,004

280,105

320,136

454,661

403,770

437,301

347,592

328,573

627,141

651,196

727,699

705,431

472,890

482,797

612,415

646,700

583,974

456,830

297,185

287,602

243,579

232,349

181,355

220,199

178,520

163,731

-17,383

66,285

0

0

0

Net increase in cash and cash equivalents

5,571

85,931

9,296

-19,922

34,324

-15,418

-2,276

-115,729

-22,590

-2,574

-4,232

115,936

12,916

-2,127

8,224

13,325

-4,901

56,715

41,717

30,514

6,003

-24,897

9,920

16,106

49,533

17,691

-5,670

-30,434

-46,842

-189,812

-19,723

0

0

0

Supplemental Disclosures of Cash Flow Information:
Cash paid during the year for:
Interest

97,913

90,208

80,305

72,066

64,199

58,073

53,012

49,088

45,830

44,285

43,709

42,480

40,509

38,994

36,532

32,808

33,218

26,422

21,824

17,643

11,743

10,744

10,465

10,272

10,324

10,574

10,860

11,550

12,752

15,573

18,167

0

0

0

Income taxes, net

2,893

2,217

1,835

691

2,706

2,235

4,574

5,514

4,358

4,950

3,655

3,275

2,815

1,342

-6,744

-6,719

-4,075

-3,047

3,599

3,899

665

6,466

7,017

7,897

8,012

5,801

5,311

845

2,630

1,530

1,664

0

0

0

Transfer of loans to other real estate owned

1,353

1,702

2,098

2,848

3,559

3,305

2,848

2,210

2,989

3,134

3,298

3,944

1,919

1,246

1,099

639

902

1,087

2,339

2,284

2,501

4,044

3,097

3,555

3,833

2,296

2,218

4,612

3,790

3,603

3,302

0

0

0

Change in due to broker, investment purchases

-

0

-

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating cash flows from finance leases

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for amounts included in the measurement of lease liabilities:
Finance Lease, Principal Payments

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance leases

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in due to broker, common stock buyback

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-523

-995

0

0

523

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cancellation of Rockville Financial MHC, Inc. shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Due to broker

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0