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Union Bankshares Corporation
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About Union
Cash Flow Statement
 
 2013 Y2014 Y2015 Y2016 Y2017 Q1 YTD
Source Document12/31/201512/31/201612/31/201612/31/20163/31/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Operating activities 
Net income 34,36652,16467,07977,47619,124
Adjustments to reconcile net income to net cash and cash equivalents provided by (used in) operating activities 
Depreciation of premises and equipment 6,02410,74210,77610,2152,645
Writedown of OREO 7917,6466,0021,017238
Other-than-temporary impairment recognized in earnings 003000NA
Amortization, net 12,31516,33714,95113,5553,396
Amortization related to acquisition, net 1,585(255)1,8231,534144
Provision for credit losses 6,0567,8009,5719,1002,122
Gains on securities transactions, net (21)(1,695)(1,486)(205)(481)
Bank owned life insurance income NA(4,648)(4,593)(5,513)(2,125)
Deferred tax expense (benefit) 2622,644(1,212)243NA
Decrease (increase) in loans held for sale, net 114,51321,5306,489(457)16,511
Gains on sales of other real estate owned, net 461(1,381)(260)(342)(36)
Losses on sales of premises, net 3401848912526
Gains on sale of loans held for investment 00(470)0NA
Stock-based compensation expenses 8899791,3883,2701,148
Issuance of common stock for services 477713564533176
Net decrease (increase) in other assets (27,377)9,8962,692(14,810)2,241
Net increase in other liabilities 6,3484,564(2,780)(1,898)5,347
Net cash and cash equivalents provided by (used in) operating activities 157,029127,220110,92393,84350,476
Investing activities 
Purchases of securities available for sale and restricted stock (300,324)(411,916)(259,761)(259,020)(53,782)
Purchases of securities held to maturity 00(9,830)(2,390)(4,878)
Proceeds from sales of securities available for sale and restricted stock 43,354289,389101,15469,51621,306
Proceeds from maturities, calls and paydowns of securities available for sale 129,942143,656142,644115,67026,167
Proceeds from maturities, calls and paydowns of securities held to maturity 003,6802,6861,001
Net increase in loans held for investment (91,911)(74,753)(356,300)(637,207)(246,258)
Proceeds from sale of loans held for investment 0027,3510NA
Net increase in premises and equipment (4,759)(7,124)(3,870)(6,339)(3,156)
Proceeds from sales of other real estate owned 7,56917,80810,3095,837206
Improvements to other real estate owned (561)(686)(308)0NA
Purchases of BOLI policies 00(30,000)0NA
Cash paid for equity-method investments (2,000)(60)(355)0NA
Cash paid in acquisition NA00(4,077)NA
Cash acquired in bank acquisitions 049,9890207NA
Net cash and cash equivalents provided by (used in) investing activities (218,690)6,303(375,286)(715,117)(259,394)
Financing activities 
Net increase (decrease) in noninterest-bearing deposits 45,77395,664173,55920,68897,174
Net increase (decrease) in interest-bearing deposits (106,698)(164,696)153,450394,865137,532
Net increase (decrease) in short-term borrowings 131,68574,2111,584187,804(9,694)
Proceeds from issuance of long-term debt 2,23400178,000NA
Repayments of long-term debt NA0(10,000)(57,500)NA
Cash paid for contingent consideration NANANANA(2,265)
Cash dividends paid - common stock (12,535)(25,494)(29,082)(33,672)(8,727)
Repurchase of common stock (9,499)(52,599)(16,260)(33,177)0
Issuance of common stock 9271,2309281,429528
Vesting of restricted stock, net of shares held for taxes (105)(1,602)(416)(586)(1,048)
Net cash and cash equivalents provided by (used in) financing activities 51,782(73,286)273,763657,851213,500
Increase (decrease) in cash and cash equivalents (9,879)60,2379,40036,5774,582
Cash and cash equivalents at beginning of the period 82,90273,023133,260142,660179,237
Cash and cash equivalents at end of the period 73,023133,260142,660179,237183,819
Supplemental Disclosure of Cash Flow Information 
Cash payments for 
Interest 21,01328,39427,52629,5768,141
Income taxes 11,50017,50021,40027,9000
Supplemental schedule of noncash investing and financing activities 
Unrealized (losses) gains on securities available for sale (20,586)NANANANA
Transfer from securities available for sale to securities held to maturity 00201,8220NA
Changes in fair value of interest rate swap loss 1,107NANANANA
Transfers between loans and other real estate owned 8,5532,1417001,297(71)
Transfers from bank premises to other real estate owned 98910,9292,2240NA
Issuance of common stock in exchange for net assets in acquisition 0549,5230453NA
Transactions related to bank acquisition 
Assets acquired 02,957,52104,668NA
Liabilities assumed 02,642,12004,807NA


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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