| Cash Flow for Heritage Financial Group (HBOS) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 2,921 | 2,354 | 2,950 | 3,533 | 2,277 | | Provision for Loan Loss | 1,178 | 695 | 1,015 | 200 | 650 | | Depreciation & Amortization | 974 | 1,046 | 1,244 | 1,292 | 1,263 | | Deferred Income Taxes | (246) | (416) | (720) | 386 | 1,269 | | Change in Assets (Receivables) | (298) | (622) | (241) | 548 | (37) | | Change in Liabilities (Payables) | (1,644) | 299 | 15 | (862) | (472) | | Investment Securities Gain | 355 | 59 | 5 | (139) | (403) | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | 1 | 4 | (3) | 0 | (50) | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | (150) | 751 | - | - | | Other Non-Cash Items | 3,082 | 363 | 115 | 777 | (505) | | Net Cash from Operating Activities | 6,324 | 3,631 | 5,132 | 5,736 | 3,992 | | | | Proceeds from Sale/Mat. Inv. | 57,068 | (35,263) | (35,083) | 25,465 | 32,044 | | Purchase of Investment Securities | (81,182) | 16,221 | 27,863 | (33,600) | (47,987) | | Net Increase Fed. Funds Sold | (2,298) | (5,429) | 5,993 | (7,147) | 2,627 | | Purchase of Property & Equipment | (2,976) | (1,860) | (576) | (439) | (2,029) | | Acquisitions | - | - | - | - | - | | Other Investment Changes, Net | (27,567) | (24,669) | (16,629) | 5,947 | (13,310) | | Net Cash from Investing Activities | (56,955) | (51,000) | (18,431) | (9,775) | (28,655) | | | Net Change in Deposits | 31,441 | 60,548 | (9,902) | (6,778) | 18,027 | | Cash Dividends paid | (763) | (674) | (169) | - | - | | Repayment of Long Term Debt | (5,000) | (35,000) | (21,000) | (5,000) | (5,000) | | Change in Short Term Debt | 9,757 | 5,294 | 237 | - | - | | Issuance of Long term Debt | 15,000 | 25,000 | 20,000 | 16,000 | 10,000 | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 115 | - | 28,011 | - | - | | Purchase of Treasury Stock | (811) | (8,518) | - | - | - | | Other Financing Activities | 64 | - | - | - | - | | Cash from Financing Activities | 49,803 | 46,651 | 17,177 | 4,222 | 23,027 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | (827) | (718) | 3,878 | 182 | (1,636) | | | Cash at Beginning of Period | 9,781 | 10,499 | 6,621 | 6,439 | 8,075 | | Cash at End of Period | 8,954 | 9,781 | 10,499 | 6,621 | 6,439 | | | |
