Investor Relations

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Cash flows from operating activities

Net income attributable to the Company 64,925 71,628 40,591 80,384

Adjustments to arrive at net income from continuing operations

Net income attributable to noncontrolling interests 4,407 4,157 4,468 3,487
Less - Net income from discontinued operations (11,234) (5,541) (4,870) (2,002)
Tax expense from discontinued operations 4,823 NA NA NA
Net income from continuing operations 62,921 70,244 40,189 81,869

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

Depreciation and amortization 22,187 23,441 21,023 23,129
Net income attributable to noncontrolling interests (4,407) (4,157) (4,468) (3,487)
Stock compensation, net of cancellations 9,820 4,112 8,275 6,676
Impairment of goodwill 0 9,528 24,901 0
Provision/ (credit) for loan losses (1,555) (6,935) (7,669) (2,198)
Loans originated for sale (153,445) (80,539) (53,287) (37,631)
Proceeds from sale of loans held for sale 153,679 85,814 52,508 39,773
(Gain)/loss on sale of affiliates or offices 0 (2,862) 1,264 (18,142)
Goodwill and intangibles on sale of affiliate NA 0 0 18,919
Deferred income tax expense/ (benefit) (4,575) 2,777 22,845 5,829
Net decrease/ (increase) in other operating activities 2,852 (817) (8,466) (23,240)
Net cash provided by operating activities of continuing operations 87,477 100,606 97,115 91,497
Net cash provided by operating activities of discontinued operations 6,411 5,541 4,870 2,002
Net cash provided by operating activities 93,888 106,147 101,985 93,499

Cash flows from investing activities

Investment securities available-for-sale

Purchases (506,529) (382,827) (111,755) (39,747)
Sales 34,160 11,135 81,221 53,412
Maturities, redemptions, and principal payments 208,467 165,768 120,546 120,523

Investment securities held-to-maturity

Purchases 0 0 (14,945) (21,752)
Principal payments 23,741 22,522 32,912 25,598

Equity securities at fair value

Purchases NA (39,488) (65,266) (63,791)
Sales NA 38,914 67,186 70,357
(Investments)/ distributions in trusts, net (165) (508) (952) 224
Purchase of BOLI 0 0 (50,000) 0
Contingent considerations from divestitures NA 0 0 1,233
(Purchase)/ redemption of FHLB and FRB stock (2,900) (8,896) (15,896) 10,710
Net increase in portfolio loans (452,675) (403,670) (390,003) (390,884)
Proceeds from recoveries of loans previously charged-off 6,253 10,461 5,197 3,266
Proceeds from sale of OREO 277 1,337 1,644 108
Sale of affiliates, offices and related deposits 0 (98,517) 0 52,981
Capital expenditures, net of sale proceeds (5,419) (9,011) (14,204) (20,643)
Net cash (used in) investing activities (694,790) (692,780) (354,315) (198,405)

Cash flows from financing activities

Net increase in deposits 586,558 148,303 425,100 270,924
Net (decrease)/ increase in securities sold under agreements to repurchase 27,719 1,409 (27,455) 4,759
Net increase/ (decrease) in federal funds purchased 0 80,000 (50,000) 220,000
Net (decrease)/ increase in short-term FHLB borrowings 40,000 310,000 40,000 (220,000)
Advances of long-term FHLB borrowings 123,636 134,779 50,110 116,444
Repayments of long-term FHLB borrowings (72,462) (171,898) (130,634) (169,981)
Repurchase of Series D preferred stock, including deemed dividend NA 0 0 (50,000)
Repurchase of common stock 0 (9,323) 0 (20,000)
Dividends paid to common shareholders (29,608) (33,110) (37,054) (40,685)
Dividends paid to preferred shareholders (3,475) (3,475) (3,475) (1,738)
Tax benefit/ (deficiency) from certain stock compensation awards (1,262) (620) 0 0
Proceeds from warrant exercises 0 0 3,003 372
Proceeds from stock option exercises 1,206 1,725 882 1,661
Proceeds from issuance of common stock (515) 1,579 1,601 1,866
Tax withholding for share based compensation awards NA (737) (1,430) (2,430)
Distributions paid to noncontrolling interests (4,611) (4,054) (4,360) (3,354)
Other equity adjustments (199) (82) 26 3,786
Net cash provided by financing activities 666,987 454,496 266,314 111,624
Net increase/ (decrease) in cash and cash equivalents 66,085 (132,137) 13,984 6,718
Cash and cash equivalents at beginning of year 172,609 238,694 106,557 120,541
Cash and cash equivalents at end of year 238,694 106,557 120,541 127,259

Supplementary schedule of non-cash investing and financing activities

Cash paid for interest 27,749 27,415 33,727 58,548
Cash paid for income taxes, net of (refunds received) 33,318 33,078 32,159 20,541
Change in unrealized gain/ (loss) on securities available-for-sale, net of tax (1,488) (11,689) 4,497 (9,077)
Change in unrealized gain/ (loss) on cash flow hedges, net of tax 800 518 878 54
Change in unrealized gain/ (loss) on other, net of tax (115) 123 50 296

Non-cash transactions

Transfer of net assets into held for sale 0 0 58,034 21
Loans charged-off (2,036) (3,949) (863) (899)
Loans transferred into OREO from held for sale or portfolio 0 1,944 0 401
Reversal of contingent consideration into income 2,026 NA NA NA
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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