Atlantic union bankshares corp (UBSH)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating activities:
Net income

193,528

146,248

72,923

77,476

67,079

52,164

34,366

35,411

30,445

22,922

8,360

Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities:
Depreciation of premises and equipment

15,032

13,725

11,183

10,215

10,776

10,742

6,024

6,631

6,715

6,502

5,067

Write-down of foreclosed properties and former bank premises

1,906

1,324

1,891

1,017

6,002

7,646

791

301

707

-

-

Other-than-temporary impairment recognized in earnings

-

-

-

-

300

0

-

-

-

-

-

Amortization, net

24,944

12,603

14,021

13,555

14,951

16,337

12,315

13,887

20,172

13,563

4,407

Amortization (accretion) related to acquisition, net

-7,899

-6,711

-866

1,534

1,823

255

-1,585

1,579

400

-

0

Provision for credit losses

21,092

13,551

10,756

9,100

9,571

7,800

6,056

12,200

16,800

24,368

18,246

Gains on securities transactions, net

7,675

383

800

205

1,486

1,695

21

190

913

58

-

BOLI income

8,311

7,198

5,306

5,513

4,593

4,648

-

-

-

-

-

Tax benefit from exercise of stock-based awards

-

-

-

-

-

-

-

-

-

-

4

Deferred tax expense (benefit)

15,057

17,821

5,624

243

-1,212

2,644

262

-195

-615

-1,273

-2,425

Decrease (increase) in loans held for sale, net

34,178

-40,662

4,175

457

-6,489

-21,530

-114,513

92,875

849

19,694

703,477

Losses (gains) on sales of foreclosed properties and former bank premises, net

-102

220

-143

217

260

1,381

-461

-

-

-

-

Loss on debt extinguishment

-16,397

0

0

-

-

-

-

-

-

-

-

(Gains) losses on the sale of investment securities

-

-

-

-

-

-

-

-

-

-

163

Gains (losses) on sales of other real estate owned, net

-

-

-

-

-

-

-

-631

-1,065

207

-

Losses (gains) on sales of premises, net

-

-

-

-

-89

-184

-340

2

-996

421

-

Gain on sale of Shore Premier loans

0

19,966

0

0

-

-

-

-

-

-

-

Goodwill impairment losses

0

864

0

0

-

-

-

-

-

-

-

Gains on sale of loans held for investment

-

-

-

-

470

0

-

-

-

-

-

Proceeds from sales of loans held for sale

-

-

-

-

-

-

-

-

-

-

-678,621

(Gain) Loss on sales of other real estate owned and bank premises, net

-

-

-

-

-

-

-

-

-

-

-37

Stock-based compensation expenses

8,332

6,132

4,648

3,270

1,388

979

889

1,252

717

778

420

Issuance of common stock for services

910

914

724

533

564

713

477

565

657

593

-

Issuance of common stock grants for services

-

-

-

-

-

-

-

-

-

-

516

Prepayment of FDIC insurance assessment

-

-

-

-

-

-

-

-

-

-

11,805

Net decrease (increase) in other assets

57,348

26,606

5,785

14,810

-2,692

-9,896

27,377

2,173

3,089

7,616

1,893

Net increase in other liabilities

12,910

24,005

5,352

-1,898

-2,780

4,564

6,348

987

-2,160

6,343

5,216

Net cash and cash equivalents provided by (used in) operating activities

194,799

216,765

110,333

93,843

110,923

127,220

157,029

-21,991

71,048

45,800

1,131

Investing activities:
Purchases of AFS securities and restricted stock

444,398

1,047,611

298,958

259,020

259,761

411,916

-

-

-

-

-

Purchases of HTM securities

47,217

485,629

7,836

2,390

9,830

0

-

-

-

-

-

Proceeds from sales of AFS securities and restricted stock

514,070

515,764

139,046

69,516

101,154

289,389

-

-

-

-

-

Purchases of securities available for sale

-

-

-

-

-

-

300,324

160,751

217,643

191,030

181,219

Proceeds from sales of securities available for sale

-

-

-

-

-

-

43,354

18,944

28,800

106,549

14,005

Proceeds from maturities, calls and paydowns of AFS securities

247,770

173,597

115,124

115,670

142,644

143,656

129,942

168,078

126,786

126,158

83,964

Proceeds from maturities, calls and paydowns of HTM securities

3,142

0

5,048

2,686

3,680

0

-

-

-

-

-

Proceeds from sale of marketable equity securities

0

28,913

0

0

-

-

-

-

-

-

-

Proceeds from sale of loans held for investment

0

581,324

0

0

27,351

0

-

-

-

-

-

Net increase in loans held for investment

741,146

704,582

838,668

637,207

356,300

74,753

91,911

178,639

-62,126

23,204

33,301

Net increase in premises and equipment

15,892

-1,698

9,261

6,339

3,870

7,124

4,759

-2,102

-5,466

-2,229

-6,315

Proceeds from BOLI settlements

0

0

2,497

0

0

-

-

-

-

-

-

Proceeds from sales of foreclosed properties and former bank premises

12,118

6,295

2,448

5,837

10,309

17,808

7,569

13,152

14,240

11,747

4,452

Improvements to OREO

-

-

-

-

308

686

561

-

-

-

-

Purchases of BOLI policies

-

-

-

-

30,000

0

-

-

-

-

-

Improvements to other real estate owned

-

-

-

-

-

-

-

-381

-528

-117

-

Cash paid for equity-method investments

-

-

-

-

355

60

2,000

-

-

-

-

Cash paid in acquisitions

12

14,304

231

4,077

0

0

-

-

-

-

-

Cash paid in bank acquisition

-

-

-

-

-

-

-

-

26,437

-

-

Cash acquired in acquisitions

46,164

174,496

5,038

207

0

49,989

-

-

230

137,460

-

Net cash and cash equivalents provided by (used in) investing activities

-425,401

-770,039

-885,753

-715,117

-375,286

6,303

-218,690

-141,699

-17,892

165,334

-118,414

Financing activities:
Net increase in noninterest-bearing deposits

191,125

81,028

105,093

20,688

173,559

95,664

45,773

111,366

45,302

19,528

19,393

Net increase in interest-bearing deposits

916,656

351,084

502,018

394,865

153,450

-164,696

-106,698

11,296

-

-74,156

-30,038

Net increase in NOW accounts

-

-

-

-

-

-

-

-

19,374

-

-

Net increase (decrease) in money market accounts

-

-

-

-

-

-

-

-

114,012

-

-

Net increase in savings accounts

-

-

-

-

-

-

-

-

24,515

-

-

Net decrease in time deposits of $100,000 and over

-

-

-

-

-

-

-

-

-74,186

-

-

Net decrease in other time deposits

-

-

-

-

-

-

-

-

-72,840

-

-

Net increase (decrease) in short-term borrowings

-872,229

58,645

217,371

187,804

1,584

74,211

131,685

69,275

-29,972

-132,784

42,479

Cash paid for contingent consideration

565

565

3,003

0

0

-

-

-

-

-

-

Proceeds from issuance of long-term debt

550,000

225,000

20,000

178,000

0

0

-

-

-

-

-

Repayments of long-term debt

220,614

40,000

10,000

57,500

10,000

0

-

-

-

-

10,000

Net increase (decrease) in long-term borrowings

-

-

-

-

-

-

2,234

-18,566

489

897

-

Cash dividends paid - common stock

78,345

58,001

35,393

33,672

29,082

25,494

12,535

8,969

7,284

6,484

4,372

Cancellation of warrants

0

1,530

0

0

-

-

-

-

-

-

-

Cash dividends paid - preferred stock

-

-

-

-

-

-

-

-

1,961

1,458

2,696

Repurchase of common stock

80,280

0

0

33,177

16,260

52,599

9,499

14,445

35,595

-

-

(Repurchase) issuance of preferred stock and warrant

-

-

-

-

-

-

-

-

-

-

-59,499

Issuance of common stock

1,988

2,347

1,037

1,429

928

1,230

927

31

574

409

59,390

Vesting of restricted stock, net of shares held for taxes

2,301

2,908

1,567

586

416

1,602

105

-

-

-

-

Taxes paid related to net share settlement of equity awards

-

-

-

-

-

-

-

55

78

50

-

Net cash and cash equivalents provided by (used in) financing activities

405,435

615,100

795,556

657,851

273,763

-73,286

51,782

149,933

-17,650

-195,892

14,657

Increase (decrease) in cash and cash equivalents

174,833

61,826

20,136

36,577

9,400

60,237

-9,879

-13,757

35,506

15,242

-102,626

Supplemental Disclosure of Cash Flow Information
Cash payments for:
Interest

159,934

99,227

47,775

29,576

27,526

28,394

21,013

27,960

33,030

38,075

49,854

Income taxes

25,058

10,830

24,000

27,900

21,400

17,500

11,500

14,661

8,837

11,794

2,173

Supplemental schedule of noncash investing and financing activities
Transfers from loans (foreclosed properties) to foreclosed properties (loans)

1,878

493

910

1,297

700

2,141

8,553

13,621

11,625

24,791

19,906

Unrealized (losses) gains on securities available for sale

-

-

-

-

-

-

-20,586

968

-13,064

929

-

Transfer from securities available for sale to securities held to maturity

-

-

-

-

201,822

0

-

-

-

-

-

Changes in fair value of interest rate swap loss

-

-

-

-

-

-

1,107

-196

-2,818

-1,476

-

Stock received as consideration for sale of loans held for investment

0

28,913

0

0

-

-

-

-

-

-

-

Securities Transfer From HTM to AFS

0

187,425

0

-

-

-

-

-

-

-

-

Securities transferred from HTM to AFS

0

187,425

0

0

-

-

-

-

-

-

-

Transfers from Bank premises to OREO

-

-

-

-

2,224

10,929

989

653

-

-

-

Issuance of common stock in exchange for net assets in acquisition

499,974

794,809

0

453

0

549,523

-

-

-

-

-

Transactions related to acquisitions
Assets acquired

2,849,673

3,253,328

293

4,668

0

2,957,521

-

-

75,141

1,278,759

-

Liabilities assumed

2,558,063

2,873,718

5,437

4,807

0

2,642,120

-

-

48,934

1,285,944

-