HTBK · As filed with the SEC
Heritage Commerce cash flow statement, by fiscal year
The statement as Heritage Commerce presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF CASH FLOWS · USD thousands
| USD thousands | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net income | 47,830 | 40,528 | 64,443 | 66,555 | 47,700 | 35,299 | 40,461 | 35,331 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Amortization of premiums and accretion of discounts on securities | (819) | (2,582) | (4,822) | (953) | 3,649 | 3,747 | 2,590 | 3,788 |
| Gain on sale of securities available-for-sale | — | — | — | — | — | (277,000) | (661,000) | (266,000) |
| Gain on sale of SBA loans | (215) | (473) | (482) | (491) | (1,718) | (839) | (689) | (698) |
| Proceeds from sale of SBA loans originated for sale | 3,145 | 6,469 | 8,035 | 7,689 | 18,324 | 11,154 | 10,096 | 11,765 |
| SBA loans originated for sale | — | — | — | — | — | — | — | (15,214,000) |
| SBA loans originated for sale | (2,615) | (6,166) | (7,302) | (7,767) | (17,274) | (10,962) | (8,504) | — |
| Provision for (recapture of) credit losses on loans | — | — | — | — | (3,134,000) | 13,233,000 | 846,000 | 7,421,000 |
| Provision for credit losses on loans | 1,816 | 2,139 | 749 | 766 | — | — | — | — |
| Increase in cash surrender value of life insurance | (2,213) | (2,097) | (2,031) | (1,925) | (1,838) | (1,845) | (1,404) | (1,045) |
| Depreciation and amortization | 1,304 | 1,341 | 1,115 | 1,121 | 1,072 | 951 | 846 | 753 |
| Amortization of other intangible assets | 1,814 | 2,188 | 2,406 | 2,635 | 2,996 | 3,751 | 2,739 | 1,943 |
| Stock option expense, net | 352 | 516 | 600 | 595 | 579 | 559 | 640 | 708 |
| RSUs and PRSUs expense | 965 | 1,409 | 392 | — | — | — | — | — |
| Amortization of restricted stock awards, net | 621 | 916 | 1,404 | 2,583 | 1,940 | 1,689 | 1,283 | 1,109 |
| Amortization of subordinated debt issuance costs | 152 | 151 | 152 | 172 | 185 | 186 | 185 | 186 |
| Gain on proceeds from company-owned life insurance | 0 | (219) | (125) | (27) | (675) | (20) | — | — |
| Effect of changes in: | ||||||||
| Accrued interest receivable and other assets | (7,336) | 4,044 | 2,411 | 978 | 6,127 | 8,101 | 8,407 | 1,572 |
| Accrued interest payable and other liabilities | 16,874 | (9,193) | 6,065 | (2,078) | (1,084) | (6,641) | (6,492) | 1,219 |
| Net cash provided by operating activities | 61,675 | 38,971 | 73,010 | 69,853 | 56,849 | 58,086 | 50,343 | 48,572 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Purchase of securities available-for-sale | (555,713) | (30,263) | — | (425,721) | — | — | (111,954) | (162,806) |
| Purchase of securities held-to-maturity | — | — | — | (146,548,000) | (474,017,000) | (30,916,000) | (50,041,000) | (31,496,000) |
| Maturities/paydowns/calls of securities available-for-sale | 226,147 | 225,064 | 59,014 | 21,881 | 129,191 | 114,662 | 53,566 | 57,142 |
| Maturities/paydowns/calls of securities held-to-maturity | 59,599 | 59,566 | 63,376 | 88,394 | 110,823 | 97,365 | 59,361 | 50,773 |
| Proceeds from sales of securities available-for-sale | — | — | — | — | — | 56,598,000 | 167,551,000 | 94,291,000 |
| Purchase of mortgage loans | — | — | — | (185,426,000) | (405,752,000) | — | — | — |
| Net change in loans | (161,155) | (142,703) | (52,131) | (21,862) | (60,289) | (85,646) | 33,810 | 38,394 |
| Changes in FHLB stock and other investments | (12) | (16) | (18) | (18) | 1,018 | (3,680) | 1,161 | (4,483) |
| Proceeds from redemption of company-owned life insurance | 0 | 594 | 1,612 | 596 | 2,447 | 369 | — | — |
| Cash received in bank acquisition, net of cash paid | — | — | — | — | — | — | 117,988,000 | 36,028,000 |
| Purchase of premises and equipment | (377) | (1,624) | (1,671) | (783) | (252) | (3,160) | (203) | (187) |
| Net cash (used in) provided by investing activities | (431,511) | 110,618 | 70,182 | (669,487) | (696,831) | 145,592 | 271,239 | 77,656 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Net change in deposits | 83,055 | 441,573 | (11,146) | (369,808) | 844,926 | 499,718 | 2,977 | (262,085) |
| Net change in short-term borrowings | — | — | — | — | — | (328,000) | (114,000) | — |
| Exercise of stock options | 1,652 | 690 | 1,220 | 2,050 | 1,469 | 1,714 | 1,626 | 2,667 |
| Common stock offering costs | — | — | — | — | — | — | (246,000) | — |
| Payment of cash dividends | (31,917) | (31,858) | (31,740) | (31,495) | (31,270) | (31,079) | (22,723) | (18,464) |
| Redemption of subordinated debt | — | — | — | (40,000,000) | — | — | (10,000,000) | — |
| Payment for extinguishment penalty | — | — | — | — | — | — | (300,000) | — |
| Issuance of subordinated debt, net of issuance costs | — | — | — | 39,274,000 | — | — | — | — |
| Repurchase shares of the Company common stock | (4,049) | — | — | — | — | — | — | — |
| Net cash provided by (used in) financing activities | 48,741 | 410,405 | (41,666) | (399,979) | 815,125 | 470,025 | (28,780) | (277,882) |
| Net increase (decrease) in cash and cash equivalents | (321,095) | 559,994 | 101,526 | (999,613) | 175,143 | 673,703 | 292,802 | (151,654) |
| Cash and cash equivalents, beginning of period | 968,123 | 408,129 | 306,603 | 1,306,216 | 1,131,073 | 457,370 | 164,568 | 316,222 |
| Cash and cash equivalents, end of period | 647,028 | 968,123 | 408,129 | 306,603 | 1,306,216 | 1,131,073 | 457,370 | 164,568 |
| Supplemental disclosures of cash flow information: | ||||||||
| Interest paid | 72,076 | 77,237 | 46,834 | 8,654 | 7,014 | 8,558 | 9,935 | 7,528 |
| Income taxes paid, net | — | — | — | — | 15,372,000 | 10,640,000 | 17,730,000 | 12,838,000 |
| Income taxes paid, net | 21,458 | 13,219 | 28,340 | 25,175 | — | — | — | — |
| Supplemental schedule of non-cash activity: | ||||||||
| Recording of right of use assets in exchange for lease obligations | 0 | 3,045 | 541 | 2,736 | 2,977 | 26,654 | 9,566 | — |
| Transfer of loans held-for-sale to loan portfolio | — | — | — | 480,000 | — | — | 694,000 | 4,917,000 |
| Transfer of loans held-for-sale to loan portfolio | 738 | — | — | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.