XML 17 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 74,466 $ 65,235
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 8,864 9,711
Provision for loan losses 3,700 4,200
Deferred tax expense 640 323
Income on Bank-owned life insurance (5,291) (4,083)
Net amortization of premiums and discounts on securities 7,504 7,908
Accretion of net deferred loan fees (3,673) (2,500)
Amortization of premiums on purchased loans, net 800 936
Net increase in loans originated for sale (18,386) (32,734)
Proceeds from sales of loans originated for sale 19,149 34,709
Proceeds from sales and paydowns of foreclosed assets 4,883 3,717
ESOP expense 3,167 2,341
Allocation of stock award shares 3,702 2,982
Allocation of stock options 150 131
Net gain on sale of loans (763) (1,975)
Net gain on securities transactions (47) (54)
Net gain on sale of premises and equipment (8) (14)
Net gain on sale of foreclosed assets (768) (652)
(Increase) decrease in accrued interest receivable (316) 461
Increase in other assets (2,407) (17,108)
(Decrease) increase in other liabilities (4,846) 10,942
Net cash provided by operating activities 90,520 84,476
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of investment securities held to maturity 42,382 49,245
Purchases of investment securities held to maturity (38,074) (54,059)
Proceeds from sales of securities 0 3,401
Proceeds from maturities, calls and paydowns of securities available for sale 160,436 146,958
Purchases of securities available for sale (149,647) (209,666)
Proceeds from redemption of Federal Home Loan Bank stock 96,040 46,757
Purchases of Federal Home Loan Bank stock (91,210) (39,595)
Death benefit proceeds from bank-owned life insurance 4,428 0
Purchases of loans 0 (28,590)
Net increase in loans (23,888) (325,838)
Proceeds from sales of premises and equipment 8 14
Purchases of premises and equipment (1,690) (3,757)
Net cash used in investing activities (1,215) (415,130)
Cash flows from financing activities:    
Net increase in deposits 37,587 603,511
Increase in mortgage escrow deposits 734 940
Cash dividends paid to stockholders (38,659) (35,141)
Shares issued through the dividend reinvestment plan 1,339 1,176
Purchases of treasury stock (443) (1,557)
Purchase of employee restricted shares to fund statutory tax withholding (726) (1,161)
Stock options exercised 2,534 5,598
Proceeds from long-term borrowings 248,220 291,653
Payments on long-term borrowings (345,387) (395,405)
Net increase (decrease) in short-term borrowings 9,982 (81,512)
Net cash (used in) provided by financing activities (84,819) 388,102
Net increase in cash and cash equivalents 4,486 57,448
Cash and cash equivalents at beginning of period 144,297 102,226
Cash and cash equivalents at end of period 148,783 159,674
Cash paid during the period for:    
Interest on deposits and borrowings 34,127 33,088
Income taxes 27,411 25,546
Non-cash investing activities:    
Transfer of loans receivable to foreclosed assets $ 2,195 $ 3,081