Harbor Bankshares Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2005	FY 2004	FY 2003	FY 2002	FY 2001
Period Ending	Sep '06 Sep 30, 2006	Dec '05 Dec 31, 2005	Dec '04 Dec 31, 2004	Dec '03 Dec 31, 2003	Dec '02 Dec 31, 2002	Dec '01 Dec 31, 2001
Net Income	1.88	1.88	1.46	1.79	1.08	0.73
Depreciation & Amortization	0.97	0.76	0.49	0.4	0.49	0.94
Gain (Loss) on Sale of Investments	-	-	-0.02	-0.23	-0.23	-0.2
Provision for Credit Losses	0.26	0.41	0.36	0.76	0.34	0.4
Net Decrease (Increase) in Loans Originated / Sold - Operating	0.6	-	0.01	0.05	0.05	0.05
Accrued Interest Receivable	-1.15	0.72	-0.29	-0.15	-1.24	0.26
Change in Other Net Operating Assets	-0.15	-0.15	-0.17	-	-	-
Other Operating Activities	-0.32	-0.32	0.04	-0.16	-0.09	-0.32
Operating Cash Flow	2.52	4.13	2.52	2.71	0.42	1.64
Operating Cash Flow Growth	-32.77%	64.21%	-7.23%	539.55%	-74.19%	102.20%
Capital Expenditures	-1.2	-3.07	-1.83	-3.15	-0.43	-0.24
Investment in Securities	0.01	3.29	9.28	18.25	-4.36	4.57
Net Decrease (Increase) in Loans Originated / Sold - Investing	-6.96	-16.3	-22.48	-29.94	-14.9	5.59
Investing Cash Flow	-8.15	-16.08	-15.03	-14.77	-19.75	9.94
Long-Term Debt Issued	-	-	-	6.79	-	-
Total Debt Issued	-3	-	-	6.79	-	-
Short-Term Debt Repaid	-	-	-	-	-	-2
Long-Term Debt Repaid	-	-	-	-1.94	-0.06	-
Total Debt Repaid	-	-	-	-1.94	-0.06	-2
Net Debt Issued (Repaid)	-3	-	-	4.85	-0.06	-2
Issuance of Common Stock	0	0.17	0.01	0.01	-	0.49
Repurchase of Common Stock	-0.25	-0.78	-	-	-	-
Common Dividends Paid	-0.34	-0.28	-0.25	-0.18	-0	-
Net Increase (Decrease) in Deposit Accounts	11.08	19.62	14.32	2.61	21.76	2.25
Financing Cash Flow	7.49	18.74	14.08	7.28	21.7	0.74
Net Cash Flow	1.85	6.79	1.57	-4.78	2.38	12.32
Free Cash Flow	1.32	1.06	0.69	-0.44	-0.01	1.41
Free Cash Flow Growth	334.71%	54.73%	-	-	-	238.51%
Free Cash Flow Margin	9.88%	8.44%	5.96%	-4.15%	-0.06%	15.06%
Free Cash Flow Per Share	1.82	1.44	0.91	-0.58	-0.01	1.91
Cash Interest Paid	3.46	3.46	2.16	2.32	3.62	6.03
Cash Income Tax Paid	1.08	1.08	0.83	0.68	0.5	0.31

Source: S&P Global Market Intelligence. Banks template. Financial Sources.