Investor Relations

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD

Cash flows from operating activities

Net income attributable to the Company 70,535 68,815 64,925 71,628 58,871

Adjustments to arrive at net income from continuing operations

Net income attributable to noncontrolling interests 3,948 4,750 4,407 4,157 3,190
Less - Net income from discontinued operations (13,913) (11,258) (11,234) (9,452) (3,881)
Tax expense from discontinued operations 6,121 5,098 4,823 3,911 NA
Net income from continuing operations 66,691 67,405 62,921 70,244 58,180

Adjustments to reconcile net income from continuing operations to net cash provided by/ (used in) operating activities

Depreciation and amortization 19,107 19,378 22,187 23,441 15,835
Net income attributable to noncontrolling interests (3,948) (4,750) (4,407) (4,157) (3,190)
Stock compensation, net of cancellations 6,747 6,239 9,820 4,112 6,183
Impairment of goodwill NA 0 0 9,528 NA
Provision/ (credit) for loan losses (10,000) (6,400) (1,555) (6,935) (6,727)
Loans originated for sale (231,539) (71,858) (153,445) (80,539) (38,099)
Proceeds from sale of loans held for sale 254,345 71,440 153,679 85,814 39,972
Gain on the repurchase of debt (620) NA NA NA NA
Gain on sale of Pacific Northwest offices (10,574) NA NA NA NA
Gain on sale of offices NA 0 0 (2,862) NA
Deferred income tax expense/ (benefit) 10,313 5,058 (4,575) 2,777 4,141
Net decrease/ (increase) in other operating activities 5,861 14,387 2,852 (817) (9,407)
Net cash provided by/ (used in) operating activities of continuing operations 106,383 100,899 87,477 100,606 66,888
Net cash provided by/ (used in) operating activities of discontinued operations 7,792 6,160 6,411 5,541 3,881
Net cash provided by/ (used in) operating activities 114,175 107,059 93,888 106,147 70,769

Cash flows from investing activities

Available-for-sale investment securities

Purchases (243,359) (335,404) (506,529) (422,315) (138,623)
Sales 4,062 6,450 34,160 50,049 119,238
Maturities, calls, redemptions, and principal payments 227,973 190,926 208,467 165,768 100,065

Held-to-maturity investment securities

Purchases (112,391) (48,835) 0 0 (14,945)
Maturities and principal payments 325 19,263 23,741 22,522 23,541
(Investments)/ distributions in trusts, net 154 (385) (165) (508) (747)
Purchase of additional Bank Owned Life Insurance (“BOLI”) NA NA NA NA (50,000)
(Purchase)/ redemption of Federal Home Loan Bank and Federal Reserve Bank stock 3,369 6,331 (2,900) (8,896) (17,637)
Net (increase)/ decrease in portfolio loans (310,834) (221,256) (452,675) (403,670) (298,304)
Proceeds from recoveries of loans previously charged-off 7,731 11,163 6,253 10,461 4,082
Proceeds from sale of OREO 2,455 1,102 277 1,337 1,644
Proceeds from sale of portfolio loans 9,449 58,568 0 0 NA
Proceeds from sale of Pacific Northwest offices 123,693 NA NA NA NA
Distributions related to sale of offices NA 0 0 (98,517) NA
Capital expenditures, net of sale proceeds (8,311) (9,705) (5,419) (9,011) (10,769)
Cash received from dispositions, net of cash divested/ (cash paid for acquisitions, including cash paid for deferred acquisition obligations, net of cash acquired) 0 (44,845) 0 0 NA
Cash provided by/ (used in) other investing activities of continuing operations (224) (1,601) 0 0 NA
Net cash provided by/ (used in) investing activities of continuing operations (295,908) (368,228) (694,790) (692,780) (282,455)
Net cash provided by/ (used in) investing activities-discontinued operations 0 0 0 0 NA
Net cash provided by/ (used in) investing activities (295,908) (368,228) (694,790) (692,780) (282,455)

Cash flows from financing activities

Net increase/ (decrease) in deposits 199,381 343,509 586,558 148,303 177,201
Net increase/ (decrease) in securities sold under agreements to repurchase (13,966) (71,857) 27,719 1,409 279
Net increase/ (decrease) in federal funds purchased NA 0 0 80,000 (10,000)
Net increase/ (decrease) in short-term Federal Home Loan Bank borrowings (40,000) 10,000 40,000 310,000 110,000
Advances of long-term Federal Home Loan Bank borrowings 120,000 55,000 123,636 134,779 50,110
Repayments of long-term Federal Home Loan Bank borrowings (120,867) (62,104) (72,462) (171,898) (81,542)
Repurchase of debt (35,536) NA NA NA NA
Proceeds from issuance of Series D preferred stock, net 47,753 NA NA NA NA
Repurchase of Series B preferred stock, including deemed dividend at repurchase (69,827) NA NA NA NA
Dividends paid to common shareholders (19,129) (25,829) (29,608) (33,110) (27,739)
Dividends paid to preferred shareholders (2,660) (3,475) (3,475) (3,475) (2,606)
Proceeds from warrant exercises NA NA NA NA 1,879
Repurchase of common stock NA 0 0 (9,323) 0
Tax benefit/ (deficiency) from certain stock compensation awards (663) 1,294 (1,262) (620) 0
Proceeds from stock option exercises 2,332 1,807 1,206 1,725 827
Proceeds from issuance of common stock, net 1,230 (353) (515) 842 632
Distributions paid to noncontrolling interests (3,416) (4,426) (4,611) (4,054) (3,197)
Other equity adjustments 238 (1,669) (199) (82) (275)
Net cash provided by/ (used in) financing activities of continuing operations 64,870 241,897 666,987 454,496 215,569
Net cash provided by/ (used in) financing activities-discontinued operations 0 0 0 0 NA
Net cash provided by/ (used in) financing activities 64,870 241,897 666,987 454,496 215,569
Net increase/ (decrease) in cash and cash equivalents (116,863) (19,272) 66,085 (132,137) 3,883
Cash and cash equivalents at beginning of year 308,744 191,881 172,609 238,694 106,557
Cash and cash equivalents at end of period 191,881 172,609 238,694 106,557 110,440

Supplementary schedule of non-cash investing and financing activities

Cash paid for interest 29,377 30,043 27,749 27,415 23,681
Cash paid for income taxes, (net of refunds received) 32,332 30,072 33,318 33,078 32,051
Change in unrealized gain/ (loss) on available-for-sale securities, net of tax (7,169) 3,740 (1,488) (11,689) 7,295
Change in unrealized gain/ (loss) on cash flow hedges, net of tax 1,206 (160) 800 518 418
Change in unrealized gain/ (loss) on other, net of tax (358) (80) (115) 123 12

Non-cash transactions

Loans transferred into other real estate owned from loan portfolio (372) 56,967 0 0 0
Loans charged-off (5,417) (5,296) (2,036) (3,949) (559)
Loans transferred into/ (out of) other real estate owned from/ (to) held for sale or portfolio NA 298 0 1,944 NA
Reversal of contingent consideration into income 0 0 2,026 0 NA
Equity issued for acquisitions, including deferred acquisition obligations 0 21,007 0 0 NA
Premises and equipment transferred into/ (out of) other assets held for sale NA NA NA NA 0
Deposits transferred into/ (out of) held for sale NA NA NA NA 0
Data shown on this page is extracted directly from the company’s documents. S&P 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, S&P, as always, stands by its commitment to the quality of the data.

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