| Cash Flow for Washington Banking Company (WBCO) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 9,398 | 9,491 | 9,468 | 6,546 | 5,967 | | Provision for Loan Loss | 3,000 | 2,675 | 2,250 | 3,500 | 3,200 | | Depreciation & Amortization | 2,131 | 1,823 | 1,704 | 1,682 | 1,621 | | Deferred Income Taxes | 1 | (684) | 1,440 | (630) | (409) | | Change in Assets (Receivables) | 1,820 | (777) | 2,816 | 880 | (1,205) | | Change in Liabilities (Payables) | (2,212) | 674 | 2,506 | (311) | 399 | | Investment Securities Gain | - | - | 50 | (144) | - | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | (24) | (23) | (123) | 16 | (13) | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | (253) | (229) | 122 | (738) | (1,721) | | Net Cash from Operating Activities | 13,861 | 12,950 | 20,233 | 10,801 | 7,839 | | | | Proceeds from Sale/Mat. Inv. | 5,838 | 5,951 | 6,007 | 12,753 | 13,243 | | Purchase of Investment Securities | (2,635) | (3,675) | (6,110) | (11,500) | (19,370) | | Net Increase Fed. Funds Sold | - | - | - | 368 | - | | Purchase of Property & Equipment | (3,562) | (4,405) | (2,112) | (3,069) | (4,680) | | Acquisitions | - | - | - | - | - | | Other Investment Changes, Net | (94,257) | (91,191) | (50,162) | (81,716) | (72,336) | | Net Cash from Investing Activities | (94,616) | (93,320) | (52,377) | (83,164) | (83,143) | | | Net Change in Deposits | 54,587 | 66,277 | 74,488 | 61,504 | 38,502 | | Cash Dividends paid | (2,168) | (1,858) | (1,607) | (1,521) | (1,303) | | Repayment of Long Term Debt | (15,007) | (10,000) | - | (7,500) | (2,500) | | Change in Short Term Debt | 17,425 | 3,075 | (22,000) | 17,000 | 5,000 | | Issuance of Long term Debt | 25,774 | - | 5,000 | - | - | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 1,049 | 594 | 357 | 208 | 323 | | Purchase of Treasury Stock | (1,851) | - | - | - | - | | Other Financing Activities | 253 | - | - | - | - | | Cash from Financing Activities | 80,062 | 58,088 | 56,238 | 69,691 | 40,022 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | (693) | (22,282) | 24,094 | (2,672) | (35,282) | | | Cash at Beginning of Period | 19,745 | 42,027 | 17,933 | 20,605 | 55,887 | | Cash at End of Period | 19,052 | 19,745 | 42,027 | 17,933 | 20,605 | | | |
