XML 50 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 22,335 $ 23,762
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,256 2,301
Deferred taxes 935 (8,370)
Stock-based compensation 344 335
Excess tax benefits of stock-based compensation 10 42
Provision for loan losses 2,080 5,220
Write-downs of other real estate owned and other repossessed assets 1,161 1,776
Gains on sale of mortgage loans held for sale (478) (2,152)
Losses on sales of securities 111 8
Losses on sale of assets, net 43 92
Proceeds from sale of mortgage loans held for sale 20,310 93,445
Funding of mortgage loans held for sale (19,900) (71,798)
Amortization of securities premiums and discounts, net 1,349 2,217
Change in cash surrender value of bank owned life insurance (711) (704)
Mortgage servicing rights:    
Fair value adjustments 507 (296)
New servicing assets created (145) (562)
Changes in:    
Other assets 1,123 3,472
Other liabilities (684) 4,672
Net cash provided by operating activities 30,646 53,460
Certificates of deposit in other banks:    
Maturity of certificates of deposit 95 240
Purchase of certificates of deposit 0 (4,472)
Securities available-for-sale (AFS):    
Purchase of AFS securities (175,553) (176,783)
Proceeds from the sales of AFS securities 112,949 0
Proceeds from prepayments and maturities of AFS securities 35,776 66,622
Change in loans, net (17,970) (42,740)
Purchase of premises and equipment (702) (603)
Proceeds from sale of premises and equipment 18 38
Redemption of stock by Federal Home Loan Bank 7,746 0
Additional investment in Federal Reserve Bank stock (1) (1)
Proceeds from sale of other real estate and other repossessed assets 3,150 5,730
Additional investment in other real estate and other repossessed assets 0 (48)
Additional investment in bank owned life insurance 0 (7,306)
Net cash used in investing activities (34,492) (159,323)
Cash flows from financing activities:    
Change in deposits, net 32,115 18,325
Change in repurchase agreements, federal funds purchased, and other short-term borrowings, net 12,652 (3,624)
Payments on advances from Federal Home Loan Bank (58) (82)
Issuance of common stock 594 1,272
Excess tax benefits of stock-based compensation (10) (42)
Dividends paid (10,115) (9,787)
Net cash provided by financing activities 35,178 6,062
Net increase (decrease) in cash and cash equivalents 31,332 (99,801)
Cash and cash equivalents at beginning of period 106,641 207,560
Cash and cash equivalents at end of period 137,973 107,759
Supplemental disclosures:    
Income taxes paid 6,720 10,340
Interest paid 5,431 6,474
Non-cash activities:    
Loans to facilitate the sale of other real estate and other repossessed assets 5,225 1,007
Common stock dividends accrued, paid in subsequent quarter 201 4,904
Real estate acquired in settlement of loans $ 3,469 $ 4,655