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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 64,849 $ 59,048
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 4,428 4,199
Provision for loan losses 2,985 6,100
Net loss on sale and write down of other real estate owned 0 16
Amortization of loan servicing rights 368 379
Loans originated for sale (43,510) (38,926)
Net gain on sales of loans (1,312) (1,333)
Proceeds from sale of loans 39,013 39,448
Net (gain) loss on sales of premises and equipment (2) 24
Net (gain) loss on sales and calls of securities available-for-sale (94) 6
Net securities amortization 2,917 2,463
Stock based compensation expense 3,626 4,315
Earnings on life insurance (1,246) (1,177)
Gain on life insurance (841) (206)
Tax benefit of stock award issuances (529) (761)
Net change:    
Interest receivable and other assets (5,416) (4,607)
Interest payable and other liabilities 6,638 6,180
Total adjustments 7,025 16,120
Net cash from operating activities 71,874 75,168
Cash flows from investing activities:    
Proceeds from sale of securities available-for-sale 38,544 12,322
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 50,959 42,021
Purchases of securities available-for-sale (91,704) (100,702)
Purchase of life insurance (5,492) (371)
Net increase in total loans (109,286) (29,860)
Proceeds from sales of land, premises and equipment 14 29
Purchases of land, premises and equipment (5,974) (5,430)
Proceeds from sales of other real estate 0 21
Proceeds from life insurance 1,483 569
Net cash from investing activities (121,456) (81,401)
Cash flows from financing activities:    
Net increase in total deposits 239,325 7,269
Net increase (decrease) in short-term borrowings (75,555) 26,700
Net increase (decrease) in short-term FHLB borrowings (170,000) 80,000
Payments on long-term FHLB borrowings 0 (80,030)
Common dividends paid (21,952) (18,700)
Preferred dividends paid (13) (13)
Payments related to equity incentive plans (2,109) (2,435)
Purchase of treasury stock (461) (418)
Net cash from financing activities (30,765) 12,373
Net change in cash and cash equivalents (80,347) 6,140
Cash and cash equivalents at beginning of the period 216,922 176,180
Cash and cash equivalents at end of the period 136,575 182,320
Cash paid during the period for:    
Interest 45,066 31,130
Income taxes 14,825 13,033
Supplemental non-cash disclosures:    
Loans transferred to other real estate owned 0 316
Securities purchases payable 4,892 4,018
Right-of-use assets obtained in exchange for lease liabilities $ 5,483 $ 0