| Cash Flow for Gateway Financial Holdings Inc. (GBTS) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 11,019 | 5,269 | 3,939 | 2,010 | 1,200 | | Provision for Loan Loss | 4,900 | 3,400 | 2,200 | 1,425 | 1,200 | | Depreciation & Amortization | 3,392 | 2,805 | 2,140 | 1,440 | 1,345 | | Deferred Income Taxes | (270) | (1,319) | (185) | (308) | (368) | | Change in Assets (Receivables) | 3,594 | (18,671) | (4,546) | (1,304) | (1,288) | | Change in Liabilities (Payables) | 5,233 | 2,594 | 1,616 | (252) | 300 | | Investment Securities Gain | (518) | (842) | (282) | 14 | (244) | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | (48) | 236 | (6) | (159) | (189) | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | (2,859) | 1,447 | (807) | (401) | - | | Net Cash from Operating Activities | 24,443 | (5,081) | 4,069 | 2,465 | 1,956 | | | | Proceeds from Sale/Mat. Inv. | 130,547 | 38,188 | 26,646 | 37,620 | 32,089 | | Purchase of Investment Securities | (185,064) | (7,621) | (58,113) | (87,212) | (31,925) | | Net Increase Fed. Funds Sold | (4,757) | (2,274) | (5,262) | (271) | (635) | | Purchase of Property & Equipment | (29,195) | (11,522) | (12,408) | (6,033) | (1,971) | | Acquisitions | (9,181) | - | - | - | 11,260 | | Other Investment Changes, Net | (370,907) | (320,385) | (284,415) | (41,035) | (73,409) | | Net Cash from Investing Activities | (468,557) | (303,614) | (333,552) | (96,931) | (64,591) | | | Net Change in Deposits | 307,622 | 277,463 | 240,003 | 41,001 | 47,248 | | Cash Dividends paid | (3,539) | (1,674) | (631) | (95) | - | | Repayment of Long Term Debt | - | - | - | - | - | | Change in Short Term Debt | 18,450 | (47,500) | 21,339 | 4,861 | 18,599 | | Issuance of Long term Debt | 97,274 | 79,764 | 49,400 | 8,817 | - | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 23,298 | 4,485 | 31,250 | 37,337 | 112 | | Purchase of Treasury Stock | (5,600) | - | - | - | (4) | | Other Financing Activities | 476 | 808 | (8) | (10) | - | | Cash from Financing Activities | 437,981 | 313,346 | 341,353 | 91,911 | 65,955 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | (6,133) | 4,651 | 11,870 | (2,555) | 3,320 | | | Cash at Beginning of Period | 26,794 | 22,143 | 10,273 | 12,828 | 9,508 | | Cash at End of Period | 20,661 | 26,794 | 22,143 | 10,273 | 12,828 | | | |
