WSB Financial Group, Inc. (WSFGQ)

Heartland Financial USA Cash Flow Statement

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

Fiscal Year	FY 2008	FY 2007	FY 2006	FY 2005	FY 2004
Period Ending	Dec 31, 2008	Dec 31, 2007	Dec 31, 2006	Dec 31, 2005	Dec 31, 2004
Net Income	-32.65	-5.2	3.88	2.41	1.34
Depreciation & Amortization	0.81	0.82	0.61	0.37	0.26
Gain (Loss) on Sale of Assets	0.13	-0.41	-	-	0.01
Gain (Loss) on Sale of Investments	0.07	-0	0.01	0.01	0.05
Total Asset Writedown	1.35	0.19	-	-	-
Provision for Credit Losses	16.94	16.24	1.52	1.35	0.65
Net Decrease (Increase) in Loans Originated / Sold - Operating	-	13.85	1.21	-2.32	-
Accrued Interest Receivable	1.56	-0.56	-0.98	-0.56	-0.14
Change in Other Net Operating Assets	-4.98	0.06	-0.85	1.29	-2.44
Other Operating Activities	6.4	-5.72	-0.67	-0.51	0.41
Operating Cash Flow	-10.3	17.3	1.87	-2.13	-2.03
Operating Cash Flow Growth	-	826.82%	-	-	-
Capital Expenditures	-0.44	-2.71	-2.44	-3.84	-1.28
Sale of Property, Plant and Equipment	0.47	1.37	-	-	0
Investment in Securities	-9.39	-0.43	0.03	-3.77	1.66
Net Decrease (Increase) in Loans Originated / Sold - Investing	87.63	-82.25	-132.28	-84.17	-55.65
Other Investing Activities	-	-0.08	-	-0.13	-0.01
Investing Cash Flow	80.81	-83.13	-134.69	-91.91	-55.27
Long-Term Debt Issued	-	-	-	8.25	-
Net Debt Issued (Repaid)	-	-	-	8.25	-
Issuance of Common Stock	-	0.14	41.42	0.54	3.55
Repurchase of Common Stock	-	-	-0.19	-	-
Net Increase (Decrease) in Deposit Accounts	-91.41	106.42	90.86	100.57	55.59
Other Financing Activities	-	-	0.38	0.04	-
Financing Cash Flow	-91.41	106.56	132.47	109.41	59.14
Net Cash Flow	-20.91	40.73	-0.36	15.37	1.83
Free Cash Flow	-10.74	14.59	-0.57	-5.96	-3.31
Free Cash Flow Margin	-	170.95%	-2.91%	-41.41%	-39.47%
Free Cash Flow Per Share	-1.93	2.62	-0.17	-2.04	-1.36
Cash Interest Paid	16.52	16.67	10.91	5.07	1.63
Cash Income Tax Paid	-	2.79	2.55	0.56	0.73

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