UNIVEST FINANCIAL CORPORATION UVSP Cash Flow

Univest financial corporation (UVSP)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income
838	15,510	17,662	16,468	16,079	18,372	14,964	4,357	12,850	10,264	11,196	11,778	10,856	6,918	58	5,240	7,289	7,158	7,528	6,466	6,116	5,190	6,235	5,080	5,726	4,922	6,039	4,830	5,398	5,076	5,770	4,763	5,263	5,260	5,244	4,516	3,862
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses
21,049	-	-	-	2,685	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan and lease losses
-	-	-	-	-	103	2,745	15,409	2,053	1,992	2,689	2,766	2,445	2,250	1,415	830	326	917	670	1,141	1,074	648	233	1,251	1,475	1,614	4,094	3,446	2,074	2,382	2,210	1,343	4,100	3,140	3,649	5,556	5,134
Depreciation of premises and equipment
1,258	1,294	1,332	1,333	1,318	1,401	1,385	1,387	1,408	1,410	1,421	1,538	1,192	1,030	1,147	966	946	916	904	899	1,038	955	786	768	734	731	726	732	738	743	791	703	666	649	655	650	637
Net amortization of investment securities premiums and discounts
-383	-363	-541	-455	-379	-409	-414	-377	-402	-422	-457	-444	-515	-615	-656	-262	-320	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sales of investment securities
695	13	33	7	1	0	0	0	10	5	7	21	15	31	30	413	44	697	296	181	91	78	0	415	142	439	1,426	1,339	185	14	9	24	258	-	-	-	-
Other-than-temporary impairment of equity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4	6	3	5	1	3	7
Net gain on mortgage banking activities
2,744	1,038	1,629	796	483	713	754	942	716	465	908	1,537	1,113	1,092	2,006	1,711	1,218	1,090	1,123	1,367	1,258	698	616	519	349	476	935	1,416	1,696	1,571	2,171	1,074	1,272	652	913	328	-25
Net gain on sales and write-down of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-181	-621	-1,071	-31	-40	-141	-265	-352
Bank owned life insurance income
734	741	743	743	952	430	865	1,210	669	841	742	1,622	783	1,215	711	535	470	425	306	211	353	461	346	443	378	496	1,555	413	504	365	463	336	1,506	502	554	268	344
Net accretion of acquisition accounting fair value adjustments
-	-	-	-	-	-199	-343	-349	-146	-450	-1,064	-744	-764	-1,832	-644	-203	-100	-243	-489	-773	-543	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
435	430	662	679	577	178	660	872	847	616	842	877	831	677	463	493	451	387	221	401	412	349	278	124	390	362	354	185	77	344	149	361	413	-	-	-	-
Intangible expenses
330	374	378	417	426	481	479	594	612	687	690	446	759	2,917	854	991	766	178	710	893	786	405	352	650	760	356	275	-683	209	-	-	-	-	-	-	-	-
Other adjustments to reconcile net income to cash provided by (used in) operating activities
-273	1,043	138	256	205	-188	73	-208	18	-206	-7	1,250	-957	2,376	-2,817	-213	-5	-314	768	2	-323	1,681	154	-454	-559	453	648	-940	85	5,638	-2,493	-2,961	-184	-	-680	-1,000	-829
Deferred tax (benefit) expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	714	905	230	49	2,406	1,131	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Originations of loans held for sale
63,730	87,339	70,421	38,901	30,422	39,991	43,411	39,544	35,151	82,515	41,522	39,207	24,828	70,649	82,885	60,254	44,414	55,315	50,077	56,619	47,453	45,004	42,815	26,295	17,347	32,324	57,294	93,529	82,585	109,802	93,246	73,008	49,513	71,114	34,149	26,979	44,261
Proceeds from the sale of loans held for sale
58,959	86,567	70,303	38,858	31,745	39,074	46,020	39,260	37,003	84,211	42,755	39,279	30,568	70,741	85,522	60,682	46,003	56,969	50,862	58,641	46,141	44,451	42,171	27,634	18,022	34,164	58,570	95,496	85,435	111,289	92,426	75,041	50,813	70,578	34,749	26,511	47,576
Contributions to pension and other postretirement benefit plans
68	67	67	66	66	65	3,066	66	67	89	2,068	69	69	80	2,060	61	60	63	63	2,064	81	95	47	56	56	153	2,030	30	30	126	8,030	30	29	-	-	-	-
Increase in accrued interest receivable and other assets
2,752	-927	-662	212	3,709	-4,168	-3,468	-218	3,307	2,764	-55	-489	-851	-4,727	-1,478	1,746	2,503	728	-6,858	2,909	166	4,596	722	-320	-1,761	1,882	-2,865	5	3,851	-7,264	-401	33	-433	-2,159	-128	132	1,463
Decrease in accrued interest payable and other liabilities
-1,750	3,900	2,381	-4,556	-316	2,519	3,207	-1,991	2,805	3,835	-1,655	1,750	-3,715	-3,617	3,993	3,253	-1,469	1,169	-497	3,009	-2,239	1,324	-149	-3,257	1,495	-4,580	7,275	986	-2,580	3,081	1,310	1,302	-3,574	2,736	-620	12,651	-11,921
Net cash provided by operating activities
11,052	19,236	22,355	14,502	17,055	24,700	24,830	18,580	17,896	23,910	12,146	14,917	17,687	9,404	8,448	8,721	6,733	9,601	15,175	9,730	4,837	6,806	5,011	5,256	12,650	3,465	16,106	10,820	2,415	17,395	935	13,055	5,754	11,524	9,316	-2,417	24,275
Cash flows from investing activities:
Net cash paid due to acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,967	0	3,881	-14	5,393	-	-	-	-	-	-	-	-	-	-	-	-
Net capital expenditures
379	799	215	582	850	523	1,249	338	1,009	-1,079	418	2,323	2,299	3,352	5,097	2,018	2,177	2,042	1,594	1,065	1,189	2,437	1,793	703	662	1,063	2,030	646	101	342	-1,101	823	514	820	624	462	395
Proceeds from maturities, calls and principal repayments of securities held-to-maturity
12,475	13,304	9,849	6,766	4,288	3,680	3,593	2,532	1,721	1,469	11,201	569	10,026	4,000	9,000	4,000	4,000	0	2,000	7,000	4,000	2,000	0	9,000	0	-	-	-	-	-	-	-	-	-1	18	4	11
Proceeds from maturities, calls and principal repayments of securities available-for-sale
12,896	17,893	21,343	10,699	17,085	10,099	9,779	15,401	19,423	15,683	19,668	10,821	18,782	-13,551	31,936	35,463	18,693	15,969	22,344	27,594	13,575	11,569	1,917	21,527	23,731	51,702	10,036	10,361	13,106	57,023	26,919	40,355	40,646	59,931	48,015	45,917	59,101
Proceeds from sales of securities available-for-sale
62,276	1,507	9,493	15,003	491	0	0	0	1,010	3,531	506	1,270	1,762	2,025	1,274	20,810	53,181	21,303	18,459	37,275	271	2,681	0	11,677	18,609	18,213	22,733	25,200	10,215	24	0	-4,945	62,107	-	-	-	-
Purchases of investment securities held-to-maturity
43,116	21,814	21,111	31,499	10,309	38,348	15,435	14,708	30,641	11,564	13,087	11,289	18,209	5,071	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of investment securities available-for-sale
32,242	1,996	499	498	0	0	501	-2	1,487	23,360	1,498	-533	9,009	-10,788	10,173	16,074	32,573	35,451	42,164	69,973	15,134	23,895	5,114	16,689	19,517	14,753	10,099	22,181	34,679	43,480	76,413	22,219	84,317	102,192	43,006	18,993	36,834
Proceeds from sales of money market mutual funds
4,753	4,003	509	513	10	10	509	9,690	1,016	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of money market mutual funds
4,644	4,099	111	597	606	90	108	79	6,205	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in other investments
211	-1,000	-3,501	56	4,362	-4,734	303	-33	5,597	-40	-4,262	6,184	453	7,633	-3,143	7,401	-118	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in loans and leases
62,368	134,890	84,284	100,587	61,582	138,228	48,478	141,704	69,830	133,615	-20,816	169,132	56,550	98,012	70,532	161,910	7,507	83,269	-8,607	70,450	35,925	30,637	12,782	37,198	20,364	17,201	31,983	16,572	8,582	14,484	12,277	7,057	16,797	14,267	5,965	2,782	-21,861
Net increase in interest-earning deposits
-	-	-	-	-	-	-	-	-	-	-19,378	819	-3,987	-	10,672	-999	21,156	48,043	-73,623	38,573	-29,947	32,171	-30,021	19,070	8,850	-3,549	8,220	2,055	4,464	-23,384	35,044	6,717	1,430	29,364	-90,103	7,470	3,312
Proceeds from sales of other real estate owned
0	50	71	0	599	128	341	21	0	0	384	1,573	2,039	885	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	1,530	0	0	1,482	-	-	-	-
Net decrease in federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	8,343	9,099	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of bank owned life insurance
-	-	-	-	-	787	0	-1	777	7,271	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from bank owned life insurance
-	-	-	-	-	-	-	-	-	24	21	2,705	211	662	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,415	-	-	-	-
Net cash used in investing activities
-50,560	-125,841	-61,454	-100,838	-55,236	-159,315	-51,852	-127,775	-92,376	-130,799	31,385	-175,386	-57,687	-116,082	22,773	-275,514	54,891	-30,592	-78,530	-22,703	-58,217	-6,407	-41,840	6,698	5,254	40,065	-1,270	-1,623	-15,577	-23,113	-50,323	8,803	6,452	-44,151	-99,165	38,472	47,056
Cash flows from financing activities:
Net increase in deposits
47,229	22,089	215,888	118,974	117,239	65,910	199,297	123,538	-57,575	36,390	170,606	-17,747	108,543	79,228	63,359	42,772	-59,934	21,572	109,938	8,310	7,752	1,198	27,909	-7,526	-4,738	-44,548	16,315	58,441	-50,723	87,403	34,008	13,892	-19,202	24,169	103,769	-43,931	-21,045
Net decrease in short-term borrowings
-265	-290	-20,380	-33,835	-116,583	103,003	-145,088	15,427	110,995	73,340	-199,635	152,360	-116,805	14,835	-127,380	234,112	1,640	3,020	-39,985	19,023	179	3,969	-7,061	3,580	3,729	-9,477	1,345	-58,888	7,994	-15,269	11,417	-21,955	7,349	-12,381	-8,551	-2,519	18,320
Proceeds from issuance of long-term debt
125,000	0	0	25,000	0	-	-	-	-	0	0	40,000	55,000	20,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of long-term debt
65,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of subordinated notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-3	49,270	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of contingent consideration on acquisitions
31	32	32	32	33	64	0	33	34	33	63	33	5,284	33	1,359	260	900	0	1,751	260	620	0	0	310	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of subordinated debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	375	375	375	375	375	-	-	-	-
Purchases of treasury stock
4,438	269	601	225	950	3,600	1,125	604	655	234	863	788	1,634	5,930	378	1,530	521	191	1,841	5,886	5,424	662	685	551	2,707	537	7,946	1,872	1,657	442	431	835	611	719	1,157	1	51
Stock issued under dividend reinvestment and employee stock purchase plans
572	564	534	564	571	556	566	604	569	574	610	612	617	624	617	614	617	598	586	555	695	540	535	511	876	530	529	526	837	528	526	520	941	500	497	517	773
Proceeds from exercise of stock options
94	198	314	170	521	0	420	443	268	149	199	467	861	4,231	323	140	274	156	89	177	112	126	160	24	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid
5,879	5,861	5,857	5,854	5,863	5,880	5,881	5,868	5,866	5,333	5,330	5,326	5,310	5,305	3,912	3,911	3,896	3,866	3,925	3,983	3,237	3,242	3,249	3,249	3,256	-	-	-	-	6,705	3,351	3,355	3,344	3,356	3,348	3,349	3,314
Net cash provided by (used in) financing activities
97,282	6,399	179,866	104,762	-5,098	159,925	38,189	133,507	47,702	125,354	-44,476	164,545	35,988	92,650	-24,215	271,937	-62,720	21,289	63,111	17,933	48,727	1,929	17,609	-7,521	-6,096	-57,368	-13,712	-5,150	-43,924	65,140	41,794	-12,108	-15,242	22,338	107,562	-44,620	-41,957
Net increase (decrease) in cash and cash equivalents
57,774	-100,206	140,767	18,426	-43,279	25,310	11,167	24,312	-26,778	18,465	-945	4,076	-4,012	-14,028	7,006	5,144	-1,096	298	-244	4,960	-4,653	2,328	-19,220	4,433	11,808	-13,838	1,124	4,047	-57,086	59,422	-7,594	9,750	-3,036	-10,289	17,713	-8,565	29,374
Supplemental disclosures of cash flow information:
Cash paid for interest
9,420	10,755	11,722	11,373	10,629	9,228	8,457	6,829	6,361	6,035	5,773	4,956	4,729	4,364	4,585	1,920	3,113	1,996	2,951	1,517	1,635	996	927	944	1,251	1,196	1,312	1,446	2,043	2,007	1,935	2,017	2,742	2,828	2,451	2,486	3,437
Cash paid for income taxes, net of refunds
32	3,023	4,265	9,858	25	707	255	915	145	151	6,506	5,785	157	1,592	2,113	3,663	685	1,440	653	579	-530	711	2,169	2,983	36	1,016	623	3,637	76	382	155	1,206	76	269	751	3,521	85
Non cash transactions:
Transfer of loans to other real estate owned
-	-	-	-	-	-	-	-	-	80	-4	0	653	0	395	155	1,797	320	0	0	0	-	-	-	-	-41	1,797	0	1,729	-	-	-	-	0	3,013	453	3,960
Assets acquired through acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-126	-523	425,834	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities assumed through acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	13	-125	389,907	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Contingent consideration recorded as goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	101	1,424	0	635	1	5,469	0	0	454	0	-	-	-	-	-	-	-	-