| Cash Flow for Berkshire Bancorp Inc. (BERK) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 5,354 | 4,880 | 5,541 | 7,502 | 7,415 | | Provision for Loan Loss | 355 | 410 | 180 | 180 | 240 | | Depreciation & Amortization | (600) | 727 | 650 | 2,872 | 605 | | Deferred Income Taxes | - | - | - | - | 204 | | Change in Assets (Receivables) | (1,021) | 2,408 | (3,800) | (4,589) | (2,256) | | Change in Liabilities (Payables) | (439) | 3,763 | 3,640 | 538 | (1,054) | | Investment Securities Gain | (86) | (2,336) | (4) | (793) | (2,746) | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | - | - | - | - | - | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | - | (595) | (3) | - | - | | Net Cash from Operating Activities | 3,563 | 9,257 | 6,204 | 5,710 | 2,408 | | | | Proceeds from Sale/Mat. Inv. | 1,357,736 | 581,052 | 404,595 | 1,674,279 | 1,641,304 | | Purchase of Investment Securities | (1,439,103) | (489,737) | (378,781) | (1,740,889) | (1,837,653) | | Net Increase Fed. Funds Sold | - | - | - | - | - | | Purchase of Property & Equipment | (763) | (1,463) | (575) | (602) | (294) | | Acquisitions | - | - | - | - | - | | Other Investment Changes, Net | (63,806) | (61,598) | (22,092) | 7,931 | (19,221) | | Net Cash from Investing Activities | (145,936) | 28,254 | 3,147 | (59,281) | (215,864) | | | Net Change in Deposits | 171,726 | 1,229 | 60,372 | 15,633 | 130,437 | | Cash Dividends paid | (1,252) | (1,099) | (1,020) | (735) | (600) | | Repayment of Long Term Debt | (40,131) | (32,463) | (32,404) | (19,304) | - | | Change in Short Term Debt | 14,190 | (10,392) | (54,703) | 13,356 | 67,718 | | Issuance of Long term Debt | 19,000 | 2,000 | 27,217 | 51,955 | 20,046 | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 1,363 | 433 | 1,686 | 1,271 | 205 | | Purchase of Treasury Stock | - | (790) | - | (532) | (1,350) | | Other Financing Activities | 359 | - | - | - | - | | Cash from Financing Activities | 165,255 | (41,082) | 1,148 | 61,644 | 216,456 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | 22,882 | (3,571) | 10,499 | 8,073 | 3,000 | | | Cash at Beginning of Period | 24,311 | 27,882 | 17,383 | 9,310 | 6,310 | | Cash at End of Period | 47,193 | 24,311 | 27,882 | 17,383 | 9,310 | | | |
