Valley National Bancorp VLYPO Cash Flow

Valley national bancorp (VLYPO)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash flows from operating activities:
Net income
309,793	261,428	161,907	168,146	102,957	116,172	131,961	143,627	132,511	130,006	116,061	93,591
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
53,317	27,554	24,845	24,431	21,082	19,465	19,712	18,477	16,380	15,850	15,316	14,662
Stock-based compensation
14,726	19,472	12,204	10,032	7,575	7,489	6,055	4,816	3,156	4,830	5,049	5,531
Provision for credit losses
24,218	32,501	9,942	11,869	8,101	1,884	16,095	25,552	53,335	49,456	47,992	28,282
Net amortization of premiums and accretion of discounts on securities and borrowings
29,512	38,454	46,346	24,310	22,080	26,949	16,229	21,124	11,871	12,443	9,592	-3,013
Amortization of Intangible Assets
18,080	18,416	10,016	11,327	9,169	9,919	8,258	9,783	9,315	7,721	6,887	7,224
Losses on securities transactions, net
-150	-2,342	-20	777	2,487	745	14,678	2,587	32,068	11,598	8,005	5,020
Proceeds from sales of loans held for sale
1,743,470	687,983	813,855	572,439	144,790	85,452	1,083,297	999,380	366,769	385,997	369,917	55,598
Gains on sales of loans, net
18,914	20,515	20,814	22,030	4,245	1,731	33,695	46,998	10,699	12,591	8,937	1,274
Net impairment losses on securities recognized in earnings
2,928	0	0	-	-	-	-	5,247	19,968	4,642	6,352	84,835
Originations of loans held for sale
537,985	406,087	444,290	425,713	134,328	91,463	953,125	923,182	322,281	323,710	381,930	-55,882
Gains on sales of assets, net
78,333	-2,402	-95	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Assets for Financial Service Operations
-	-	-	1,358	2,776	18,087	10,947	-329	426	619	605	518
Net deferred income tax expense
15,228	-11,780	76,848	27,154	-16,453	-11,455	-30,329	-28,398	16,111	-19,334	10,898	-33,956
FDIC loss-share receivable (excluding reimbursements)
-	-	-	-	-	-20,792	-8,427	-7,459	13,403	6,268	-	-
Net change in:
Trading securities
-	-	-	-	-14,233	-31	-7,893	219	-9,956	-1,056	-1,286	-688,341
Fair value of borrowings hedged by derivative transactions
-	-	-	6,158	1,473	1,364	731	-2,574	-1,256	5,841	15,828	-14,049
Cash surrender value of bank owned life insurance
8,232	8,691	7,338	6,694	6,815	6,392	5,962	6,855	7,380	6,166	5,700	10,167
Accrued interest receivable
-1,440	9,183	7,174	3,262	2,480	-423	1,589	-5,446	3,069	-93	-1,472	1,139
Other assets
163,330	33,145	57,353	-47,458	71,263	-15,867	19,199	-49,345	34,977	-9,569	-91,644	-83,478
Accrued expenses and other liabilities
57,882	-7,562	121	-24,313	31,410	-14,868	-4,428	-13,257	9,746	-6,872	-166,768	-1,155
Net cash (used in) provided by operating activities
1,463,950	593,589	619,230	419,177	154,929	183,976	285,364	323,311	191,337	279,014	104,553	935,369
Cash flows from investing activities:
Net loan originations and purchases
2,538,909	3,257,939	1,418,073	1,379,431	1,754,689	778,300	368,724	203,354	444,207	-359,117	-734,544	854,870
Equity securities:
Equity securities:
Purchases
14,776	0	0	-	-	-	-	-	-	-	-	-
Sales
24,748	0	0	-	-	-	-	-	-	-	-	-
Loans purchased
-	-	-	-	-	-	231,008	136,241	33,293	52,279	-	-
Held to maturity debt securities:
Purchases
701,879	264,721	220,356	669,157	239,608	397,186	619,299	360,614	683,056	993,407	967,904	574,991
Sales
-	-	-	-	11,666	0	0	-	-	-	-	-
Maturities, calls and principal repayments
424,475	241,077	290,929	325,766	402,485	347,531	473,362	705,487	582,999	644,810	526,637	118,673
Available for sale debt securities:
Purchases
30,392	289,554	411,788	679,530	594,327	28,415	289,181	455,601	473,119	321,318	503,483	722,640
Sales
271,901	44,377	2,727	4,782	140,640	62,025	57,003	257,497	552,486	425,473	326,096	262,796
Maturities, calls and principal repayments
316,024	255,031	204,684	867,998	142,588	153,673	183,006	248,721	280,046	327,316	333,041	456,871
Death benefit proceeds from bank owned life insurance
9,560	4,220	13,089	2,406	0	0	1,821	1,689	8,469	5,241	1,727	-
Proceeds from sales of real estate property and equipment
109,043	7,786	9,357	20,560	23,861	43,360	18,034	9,337	4,864	4,601	3,713	2,209
Purchases of real estate property and equipment
23,375	26,440	18,117	20,707	34,040	21,862	14,852	22,735	16,402	14,599	25,282	29,877
(Payments to) reimbursements from the FDIC
-	-	-	-	-	5,582	3,812	21,935	28,372	-	-	-
Cash and cash equivalents acquired in acquisitions
22,239	156,612	0	0	201,025	102,025	0	117,587	-	44,228	285	-35,376
Net cash used in investing activities
-2,131,341	-3,129,551	-1,547,548	-1,527,313	-1,700,399	-511,567	-786,026	183,708	-192,841	429,183	428,804	-1,306,453
Cash flows from financing activities:
Net change in deposits
1,808,148	2,734,669	422,754	1,477,157	1,051,660	1,300,011	55,244	210,623	309,488	-837,871	314,362	426,977
Net change in short-term borrowings
-1,036,134	720,307	-332,332	3,969	873,123	-151,470	127,132	-87,526	20,531	-36,517	-424,157	19,735
Proceeds from Issuance of Long-term Debt
950,000	0	1,065,000	385,000	162,792	0	125,000	0	-	50,681	-	391,001
Repayments of long-term borrowings
890,000	750,682	185,000	769,182	970,000	275,000	26,133	28,000	207,000	72,742	60,755	315,480
Proceeds from issuance of preferred stock, net
0	0	98,101	0	111,590	0	0	-	-	-	-	-
Redemption of junior subordinated debentures
-	-	-	-	-	-	142,313	10,000	-	-	-	7,689
Proceeds from issuance of preferred stock and warrant
-	-	-	-	-	-	-	-	-	-	-	300,000
Redemption of preferred stock
-	-	-	-	-	-	-	-	-	-	300,000	-
Cash dividends paid to preferred shareholders
12,688	15,859	6,277	7,188	3,813	0	0	-	-	-	12,980	-
Cash dividends paid to common shareholders
146,537	138,857	115,881	111,813	102,279	88,119	129,271	125,870	116,779	115,190	109,005	102,517
Purchase of common shares to treasury
1,805	3,801	2,645	3,191	2,108	1,688	768	-	-	-	-	-
Tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	106
Common stock issued, net
2,957	2,704	8,207	112,085	7,898	5,096	7,839	7,805	8,027	8,391	140,008	1,993
Other, net
-492	0	0	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
673,449	2,548,481	951,927	1,086,837	1,128,863	788,830	16,730	-32,968	14,267	-1,003,248	-452,527	714,126
Net change in cash and cash equivalents
6,058	12,519	23,609	-21,299	-416,607	461,239	-483,932	474,051	12,763	-295,051	80,830	343,042
Supplemental disclosures of cash flow information:
Cash payments for:
Interest on deposits and borrowings
415,649	290,444	170,614	151,209	159,170	162,762	167,860	183,120	199,565	217,102	288,858	305,216
Federal and state income taxes
106,336	53,587	29,013	26,564	50,027	34,236	15,317	50,111	60,186	50,636	63,021	46,971
Supplemental schedule of non-cash investing activities:
Transfer of loans to other real estate owned
5,100	743	7,301	8,089	8,828	11,012	19,679	14,365	10,707	9,544	-	-
Transfer of loans to loans held for sale
1,234,022	289,633	313,201	174,501	0	27,329	0	124,261	-	83,162	-	-
Lease right of use assets obtained in exchange for operating lease liabilities
312,143	-	-	-	-	-	-	-	-	-	-	-
Transfer of investment securities held to maturity to available for sale
-	-	-	-	-	-	-	-	23,452	-	-	-
Non-cash assets acquired:
Equity securities
51,382	0	0	-	-	-	-	-	-	-	-	-
Investment securities
-	-	-	-	327,152	-	-	-	-	73,743	-	-
Loans
3,380,841	3,736,984	0	0	822,716	1,160,269	0	1,088,421	-	412,331	-	-
Premises and equipment
23,585	62,066	0	0	8,550	11,234	0	9,457	-	133	-	-
Bank owned life insurance
101,896	49,052	0	0	5,090	25,224	0	0	-	-	-	-
Transfer of investment securities held to maturity to available for sale *
-	-	-	-	-	-	-	-	-	-	-	1,059
Accrued interest receivable
11,781	12,123	0	0	3,741	3,792	0	5,294	-	2,788	-	-
FDIC loss-share receivable
-	-	-	-	-	-	-	0	-	108,000	-	-
Goodwill
288,960	394,028	0	0	113,587	148,115	0	109,758	-	21,413	-	-
Other intangible assets
20,690	45,906	0	0	18,616	9,750	0	8,050	-	4,884	224	-
Other assets
50,174	100,059	0	0	49,831	52,349	0	72,137	-	22,558	-	-
Total non-cash assets acquired
4,270,080	4,922,820	0	0	1,349,283	1,634,737	0	1,568,767	-	645,850	950	-
Liabilities assumed:
Deposits
2,924,716	3,564,843	0	0	1,167,725	1,414,843	0	1,380,293	-	654,200	-	-
Short-term borrowings
10,500	649,979	0	0	57,087	16,796	0	29,000	-	12,688	-	-
Long-term borrowings
430,130	87,283	0	0	-	-	-	-	-	10,559	-	-
Junior subordinated debentures issued to capital trusts
0	13,249	0	0	90,738	0	0	15,645	-	-	-	-
Accrued expenses and other liabilities
91,718	26,848	0	0	5,156	13,900	0	52,998	-	12,631	665	-
Total liabilities assumed
3,457,064	4,342,202	0	0	1,320,706	1,445,539	0	1,477,936	-	690,078	665	-
Net non-cash assets acquired
813,016	580,618	0	0	28,577	189,198	0	90,831	-	-44,228	285	-
Cash Acquired from Acquisition
22,239	156,612	0	0	201,025	102,025	0	117,587	-	44,228	285	-35,376
Common stock issued in acquisition
835,255	737,230	0	0	229,602	291,223	0	208,418	-	-	-	167,796
Available-for-sale securities
Investment securities
335,894	308,385	0	0	-	-	-	-	-	-	-	-
Held-to-maturity securities
Investment securities
4,877	214,217	0	0	-	-	-	-	-	-	-	-