Village bank & trust financial corp. (VBFC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash Flows from Operating Activities
Net income

4,477

3,037

-3,096

13,513

646

-1,037

-4,007

-10,399

-11,820

1,430

-12,605

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

644

724

742

765

843

681

1,311

1,366

1,418

1,308

1,250

Amortization of debt issuance costs

32

24

-

-

-

-

-

-

-

-

-

Deferred income taxes

1,197

690

385

813

277

-401

-1,852

-2,174

-4,139

-3,718

-3,031

Valuation allowance (recovery) on net deferred tax asset

-

-

-

-11,997

-277

334

1,781

-

-

-

-

Write-off of deferred tax assets

-

-

4,181

0

0

-

-

-

-

-

-

Valuation allowance on net deferred tax asset

-

-

-

-

-

-

-

-6,229

-3,928

0

0

Provision for loan losses

135

0

-

0

-2,000

100

1,173

9,095

18,764

4,842

13,220

Write-down of other real estate owned

-

-

20

624

690

1,642

0

-

571

294

1,329

Valuation allowance on other real estate owned

-

-

-162

393

35

-

-

-

-

-

-

Valuation allowance other real estate owned

-

-

-

-

-

-720

4,929

623

-

-

-

Write-down of assets held for sale

40

56

20

220

2,649

0

0

-

-

-

-

(Gain) loss on sale of investment securities

101

-89

-

-

-

-

-

-

-

-

-

Valuation allowance other real estate owned

-

-

-162

393

35

-

-

-

-

-

-

Gain on sale of investment securities

-

-

-81

-

-

-

-

-

-

-

-

Write-off of goodwill

-

-

-

-

-

-

-

-

-

-

7,422

Loss on securities sold

-

-

-

162

6

-210

217

1,010

1,217

768

329

Gain on sales of loans held for sale

6,205

5,207

5,415

6,430

6,076

4,449

7,744

8,562

6,522

7,003

5,828

Gain on sale of assets held for sale

-

-

-

504

0

0

-

-

-

-

-

Loss on sale and disposal of premises and equipment

-

-

-

-2

-12

3

598

0

-0

242

-43

Gain on sale of other real estate owned

-

71

380

15

862

142

-381

-240

-266

-96

46

Stock compensation expense

413

199

140

213

262

131

11

7

118

95

157

Proceeds from sale of mortgage loans

203,108

169,237

170,539

218,627

208,479

162,983

285,310

304,857

248,108

279,387

255,007

Origination of mortgage loans for sale

203,497

162,111

158,387

212,608

206,862

160,077

261,749

304,315

237,882

284,749

252,360

Amortization of premiums and accretion of discounts on securities, net

-218

-114

-95

-142

-287

-396

-417

-331

-169

-416

-337

Increase in bank owned life insurance

171

173

175

185

183

182

189

510

193

440

331

Net change in:
Interest receivable

-65

62

326

214

688

-114

-190

-370

-300

-1,019

-133

Income recognized from death benefit on bank owned life insurance

-

-

-

-226

0

0

-

-

-

-

-

Other assets

2,366

-576

-195

-2,660

190

138

-1,110

-3,491

3,810

-5,882

5,554

Interest payable

-

128

23

-1,276

179

74

181

319

187

-96

-513

Other liabilities

2,156

-161

-562

-2,257

505

2,736

-2,279

-1,510

4,135

-402

1,493

Net cash provided by (used in) operating activities

-

-

-

-

-

2,252

18,159

-1,552

-

-

-

Net cash (used in) provided by operating activities

145

7,089

8,242

1,312

-2,350

-

-

-

12,384

-2,648

-204

Cash Flows from Investing Activities
Purchases of available for sale securities

13,352

7,992

-

-

-

-

-

-

-

-

-

Proceeds from the sale of available for sale securities

6,491

9,109

-

-

-

-

-

-

-

-

-

Proceeds from the sale of assets held for sale

-

-

-

7,338

0

0

-

-

-

-

-

Purchases of available for sale securities

-

-

18,366

27,822

6,748

0

54,107

70,732

80,991

52,283

46,117

Proceeds from the sale of available for sale securities

-

-

9,949

21,041

7,566

22,310

15,737

76,167

102,116

51,122

15,373

Proceeds from maturities, calls and paydowns of available for sale securities

5,177

3,752

2,204

1,216

836

-

-

-

3,897

2,279

0

Net increase in loans

14,916

45,923

32,067

26,169

21,181

8,860

-56,562

-39,411

-11,442

1,448

18,109

Proceeds from bank owned life insurance death benefit

-

-

-

448

0

0

-

-

-

-

-

Proceeds from sale of other real estate owned

-

1,333

1,621

3,680

7,037

10,952

5,301

7,281

5,794

5,957

2,875

Purchases of premises and equipment, net

225

197

966

912

1,080

2,587

106

355

807

1,081

1,023

Purchase of restricted stock

374

400

408

-

-

-

-

-

-

-

-

Issuance of common stock

-

-

-

-

-

11

-1,684

-

-

-

-

Net cash provided by (used in) by investing activities

-17,199

-40,318

-38,033

-21,180

-13,570

-

-

-

41,451

4,923

-46,897

Cash Flows from Financing Activities
Issuance of common stock

-

-

-

0

-79

-

-

-

-

-

-

Net proceeds from sale of common stock

-

-

-

0

8,965

0

0

0

0

-

-

Proceeds from sale of premises and equipment

-

-

-

-

-

17

1,681

0

0

377

104

Net cash provided by (used in) investing activities

-

-

-

-

-

21,832

25,068

51,772

-

-

-

Redemption of preferred stock

-

5,027

688

0

0

-

-

-

-

-

-

Payment of preferred dividends

-

113

3,257

0

0

-

-

-

184

736

494

Issuance of preferred stock

-

-

-

-

-

-

-

-

-

-

14,738

Net increase in deposits

4,161

27,423

28,347

18,429

-14,012

-11,768

-45,695

-49,198

-13,491

727

32,053

Net increase in Federal Home Loan Bank advances

-8,000

-8,700

-9,900

3,600

8,000

4,000

-

-

-

-

-

Net decrease in Federal Home Loan Bank advances

-

-

-

-

-

-

10,000

9,750

-9,000

250

-4,000

Net decrease in other borrowings

5,317

-1,560

1,503

-427

-2,794

589

-2,138

-927

1,613

-10,664

-9,133

Issuance of subordinated debt, net

0

5,539

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-

-

-15,190

-56,149

-59,875

-

-

-

Net cash provided by financing activities

17,478

34,962

35,805

14,402

-15,920

-

-

-

-3,062

-10,923

41,163

Net increase in cash and cash equivalents

424

1,733

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

-

-

6,014

-5,466

-31,840

8,894

-12,922

-9,655

50,773

-8,649

-5,939

Supplemental Disclosure of Cash Flow Information
Cash payments for interest

-

-

-

-

-

3,486

4,244

-

-

-

-

Cash payments for interest

5,330

3,780

2,698

3,233

2,688

-

-

5,678

-

-

-

Supplemental Schedule of Non-Cash Activities
Real estate owned assets acquired in settlement of loans

-

-

285

268

461

7,628

7,149

-19,171

-3,781

-7,097

-12,505

Assets moved to held for sale

-

-

-

0

831

0

0

-

-

-

-

Accrual of additions on held for sale

-

-

-

0

547

0

0

-

-

-

-

Bank financed sale of asset held for sale

-

-

-

4,912

0

0

-

-

-

-

-

Real estate owned assets transferred to premises and equipment

-

-

-

-

-

-

-

0

-

-

-

Dividends on preferred stock accrued

-

-

57

737

674

1,386

737

731

552

0

0

Unrealized gains (losses) on securities available for sale

1,117

-696

-391

-

-

-

-

-

-

-

-

Right of use assets obtained in exchange for new operating lease liabilities

1,405

0

-

-

-

-

-

-

-

-

-

Non-Cash conversion of preferred shares

-

-

-

0

4,619

0

0

-

-

-

-

Forgiveness of principal and accrued dividends

-

-

-

0

6,619

0

0

-

-

-

-