Univest financial corporation (UVSP)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income

65,719

50,543

44,094

19,505

27,268

22,231

21,189

20,872

18,882

15,756

10,780

Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan and lease losses

8,518

20,310

9,892

4,821

3,802

3,607

11,228

10,035

17,479

21,565

20,886

Depreciation of premises and equipment

5,277

5,581

5,561

4,089

3,757

3,243

2,927

2,903

2,591

2,517

2,357

Net amortization of investment securities premiums and discounts

-1,738

-1,602

-1,838

-1,853

-1,284

-1,690

-2,729

-2,470

-641

18

-97

Net gain on sales of investment securities

54

10

48

518

1,265

635

3,389

305

1,417

432

1,150

Other-than-temporary impairment of equity securities

-

-

-

-

-

-

-

13

16

62

1,708

Other-than-temporary impairment on other long-lived assets

-

-

-

-

-

-

-

-

-

-

500

Net gain on mortgage banking activities

3,946

3,125

4,023

6,027

4,838

2,182

4,523

6,088

1,868

2,960

2,378

Net gain on dispositions of fixed assets

-

-

-

-

-

-

-

1,257

-12

-11

-144

Net gain on sales and write-down of other real estate owned

-

-

-

-

-

-

626

-1,904

-798

-377

-207

Loss on termination of interest rate swap

-

-

-

-

-

-

-1,866

0

-

-1,072

641

Bank owned life insurance income

3,179

3,174

3,988

2,931

1,295

1,628

2,968

2,670

1,668

1,270

1,321

Amortization, fair market value adjustments and capitalization of servicing rights

141

-196

-87

-521

-368

10

-1,367

-1,413

607

100

238

Net accretion of acquisition accounting fair value adjustments

-761

-1,037

-3,022

-2,779

-2,048

0

0

-

-

-

-

Stock-based compensation

2,348

2,557

3,166

2,084

1,421

1,141

978

1,267

888

1,045

-

Intangible expenses

1,595

2,166

2,582

5,528

2,567

2,167

157

899

-

-

-

Other adjustments to reconcile net income to cash provided by (used in) operating activities

1,642

-305

80

-659

133

822

246

0

-

190

115

Premium accretion on deposits and FHLB borrowings

-

-

-

-

-

-

-

-

-

-

447

Deferred tax (benefit) expense

-1,807

-599

7,483

942

3,816

4,162

933

2,540

1,613

-2,247

-4,480

Originations of loans held for sale

227,083

158,097

188,072

258,202

209,464

131,461

265,732

325,569

176,503

170,266

143,615

Proceeds from the sale of loans held for sale

227,473

161,357

196,813

262,948

212,613

132,278

273,665

329,569

179,414

170,098

144,688

Contributions to pension and other postretirement benefit plans

266

3,264

2,295

2,261

2,271

254

2,243

8,215

2,325

2,139

-

Increase in accrued interest receivable and other assets

2,332

-4,547

1,369

-1,956

-3,055

3,237

2,873

-8,065

-692

-3,734

10,168

Decrease in accrued interest payable and other liabilities

1,409

6,540

215

2,160

1,442

-587

1,101

2,119

2,846

1,969

-2,939

Net cash provided by operating activities

73,148

86,006

68,660

33,306

39,343

29,723

32,806

37,139

42,698

34,846

20,229

Cash flows from investing activities:
Net cash paid due to acquisitions

-

-

-

79,206

2,967

9,260

2,170

3,225

1,849

927

157

Net capital expenditures

2,446

3,119

3,961

12,644

5,890

5,595

3,840

578

2,301

2,932

3,289

Proceeds from maturities, calls and principal repayments of securities held-to-maturity

34,207

11,526

23,265

21,000

13,000

11,000

3,000

0

32

72

336

Proceeds from maturities, calls and principal repayments of securities available-for-sale

67,020

54,702

64,954

72,541

79,482

58,744

85,205

164,943

212,964

287,035

208,612

Proceeds from sales of securities held-to-maturity

-

-

-

-

-

-

-

-

-

-

930

Proceeds from sales of securities available-for-sale

26,494

1,010

7,069

77,290

77,308

32,967

76,361

57,186

40,481

13,466

48,647

Purchases of investment securities held-to-maturity

84,733

99,132

54,149

5,071

0

0

-

24,697

45,952

-

0

Purchases of investment securities available-for-sale

2,993

1,986

33,334

48,032

162,722

65,215

81,712

226,429

201,025

352,989

242,202

Proceeds from sales of money market mutual funds

5,035

11,225

29,948

38,386

-

-

-

-

-

-

-

Purchases of money market mutual funds

5,413

6,482

25,149

32,444

-

-

-

-

-

-

-

Net increase in other investments

-83

1,133

2,335

11,773

3,718

-2,144

-

-

-

-

-

Proceeds from sale of loans transferred to held for sale

-

-

-

-

4,000

0

0

-

-

-

-

Proceeds from sale of portfolio loans

-

-

-

2,435

0

0

-

-

-

-

-

Proceeds from sale of credit card portfolio

-

-

-

-

-

8,940

0

0

-

-

-

Purchases of lease financings

-

-

-

-

-

-

-

-

-

4,816

4,178

Net increase in loans and leases

381,343

398,240

338,481

337,961

181,037

100,981

74,338

50,615

1,153

55,800

-15,153

Net increase in interest-earning deposits

-

-

-

-

-16,954

30,070

11,190

19,807

-49,957

30,499

-42,796

Proceeds from sales of other real estate owned

720

490

3,996

885

14

891

4,359

3,012

2,681

1,843

304

Net decrease in federal funds sold

-

-

-

-

17,442

0

0

-

-

-

-

Purchases of bank owned life insurance

0

1,563

7,271

0

8,000

0

0

-

12,500

-

0

Proceeds from bank owned life insurance

0

1,384

2,961

662

0

0

3,540

2,415

791

-

0

Net cash used in investing activities

-343,369

-431,318

-332,487

-313,932

-190,042

-36,295

21,595

-58,181

-57,788

-84,549

-18,640

Cash flows from financing activities:
Net increase in deposits

474,190

331,170

297,792

125,425

147,572

16,843

-20,515

116,101

62,962

122,013

36,929

Net decrease in short-term borrowings

-171,088

84,337

-90,740

123,207

-17,763

4,217

-59,026

-18,458

-5,131

68,508

97,162

Proceeds from issuance of long-term debt

25,000

10,000

95,000

20,000

0

0

-

-

-

-

-

Repayment of long-term debt

20,000

20,000

65,000

15,000

0

0

-

-

-

-

-

Proceeds from issuance of subordinated notes

-

-

-

44,515

49,267

0

0

-

-

-

-

Payment of contingent consideration on acquisitions

129

131

5,413

2,552

2,631

310

0

0

-

-

-

Proceeds from public offering of common stock

0

0

70,501

0

0

-

-

-

-

-

-

Repayment of subordinated debt

-

-

-

-

-

-

375

1,500

1,500

1,500

1,875

Payment for repurchase of trust preferred securities

-

-

-

-

-

-

20,619

0

-

-

-

Purchases of treasury stock

2,045

5,984

3,519

8,359

13,342

4,605

12,012

2,319

1,928

153

370

Stock issued under dividend reinvestment and employee stock purchase plans

2,233

2,295

2,413

2,472

2,434

2,462

2,422

2,515

2,287

2,189

2,058

Proceeds from exercise of stock options

1,203

1,131

1,676

4,968

534

310

0

0

-

-

47

Issuance of common stock

-

-

-

-

-

-

-

-

-

-

55,597

Cash dividends paid

23,435

23,495

21,299

17,024

15,011

12,996

10,029

16,755

13,367

13,249

11,078

Net cash provided by (used in) financing activities

285,929

379,323

281,411

277,652

151,060

5,921

-120,154

79,584

43,323

40,792

-15,854

Net increase (decrease) in cash and cash equivalents

15,708

34,011

17,584

-2,974

361

-651

-65,753

58,542

28,233

-8,911

-14,265

Supplemental disclosures of cash flow information:
Cash paid for interest

44,479

30,875

21,493

13,982

8,099

4,118

5,997

8,701

11,202

21,202

30,440

Cash paid for income taxes, net of refunds

17,171

2,022

12,599

8,053

2,142

5,899

5,352

1,819

4,626

2,730

5,080

Non cash transactions:
Transfer of loans to other real estate owned

71

477

729

2,347

320

0

3,485

0

7,426

1,205

3,289

Transfer of loans to loans held for sale

-

-

-

-

4,000

8,926

0

2,599

-

-

-

Assets acquired through acquisitions

-

-

-

1,090,395

425,185

0

0

-

-

-

-

Liabilities assumed through acquisitions

-

-

-

911,316

389,795

0

0

-

-

-

-

Goodwill and other intangibles due to acquisitions

-

-

-

-

-

-

-

-

-

-

157

Contingent consideration recorded as goodwill

-

-

-

-

1,525

6,105

454

842

-

-

-