CASH 2018 Annual Report

108 META FINANCIAL GROUP, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows For the Years Ended September 30, (Dollars in Thousands) 2018 2017 2016 Cash flows from operating activities: Net income before noncontrolling interest $ 52,293 $ 44,917 $ 33,220 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and accretion, net 37,722 45,048 35,617 Stock compensation 11,123 10,393 486 Provision (recovery): Loan and lease losses 29,432 10,589 4,605 Deferred taxes 6,530 (6,286) (230) Loans held for sale: Originations (1,691) (685,934) — Proceeds from sales 17,621 685,934 — Net change 952 — — Fair value adjustment of foreclosed real estate 29 18 — Net realized (gain) loss: Other assets 127 406 104 Foreclosed real estate or other assets 19 6 — Available for sale securities, net 8,177 537 326 Held to maturity securities, net — (44) — Loans held for sale (181) — — Lease receivables and equipment (526) — — Net change: Other assets 2,633 (23,408) (1,968) Accrued interest payable 1,933 1,405 603 Accrued expenses and other liabilities (28,610) 30,806 11,237 Accrued interest receivable 2,745 (2,181) (3,847) Change in bank-owned life insurance value (2,591) (2,216) (1,656) Impairment of intangibles 18 10,248 — Excess contingent consideration paid — (248) — Net cash provided by operating activities 137,755 119,990 78,497 Cash flows from investing activities: Available for Sale securities: Purchases (626,575) (848,613) (603,995) Proceeds from sales 596,758 457,306 285,508 Proceeds from maturities and principal repayments 162,118 126,420 116,333 Held to Maturity: Purchases — (932) (298,869) Proceeds from sales — 5,870 — Proceeds from maturities and principal repayments 40,525 45,615 20,465 Bank Owned Life Insurance: Purchases — (25,000) (10,000) Loans and leases: Purchases (165,670) (141,403) — Proceeds from sales 22,611 4,720 89 Net change (493,381) (274,840) (217,985) Proceeds from sales of foreclosed real estate or other assets 244 200 — Federal Home Loan Bank stock: Purchases (961,124) (715,891) (860,902) Redemption 998,880 702,280 837,800 Rental Equipment: Purchases (1,848) — — Proceeds from sales 2,362 — — Premises and equipment: Purchases (8,542) (6,798) (6,979) Proceeds from sales — 58 55 Rental equipment operating lease originations (15,000) — — Cash paid for acquisitions (6) (29,425) —