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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 34,936 $ 27,188
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan and lease losses (13,713) (1,043)
Depreciation and amortization 4,406 4,372
Write down of other real estate, net of gain on sale 26 529
Amortization of other intangible assets 5,347 3,886
Net amortization of investment securities 7,418 6,111
Share-based compensation 1,812 2,100
Net (gain) loss on investment securities 1,866 (240)
Net gain on sales of residential loans (4,775) (4,151)
Proceeds from sales of loans held for sale 304,351 279,641
Originations of loans held for sale (299,679) (268,472)
Equity in earnings of unconsolidated subsidiaries (490) (422)
Increase in cash surrender value of bank-owned life insurance (1,889) (2,402)
Deferred income taxes 19,045 14,701
Net change in other assets and liabilities 3,235 702
Net cash provided by operating activities 61,896 62,500
Cash flows from investing activities:    
Proceeds from maturities of and calls on investment securities available for sale 125,688 104,784
Proceeds from sales of investment securities available for sale 117,496 162,470
Purchases of investment securities available for sale (290,019) (18,993)
Proceeds from maturities of and calls on investment securities held to maturity 19,950 12,046
Purchases of investment securities held to maturity (37,043) (2,443)
Net loan originations (122,479) (183,197)
Purchase of loan portfolios (52,806) (62,648)
Proceeds from sales of loans originated for investment 6,658 0
Proceeds from sale of other real estate 6,687 2,790
Proceeds from bank-owned life insurance 723 481
Purchases of premises and equipment (3,014) (4,425)
Net return of capital from unconsolidated subsidiaries 424 936
Net proceeds from redemption of FHLB stock 31,884 1,736
Net cash provided by (used in) investing activities (195,851) 13,537
Cash flows from financing activities:    
Net increase in deposits 120,203 111,923
Repayments of long-term debt 0 (14)
Net increase in short-term borrowings 117,000 (8,015)
Cash dividends paid on common stock (11,718) (9,841)
Repurchases of common stock and other related costs (93,533) (129,391)
Net proceeds from issuance of common stock and stock option exercises 0 74
Net cash provided by (used in) financing activities 131,952 (35,264)
Net increase (decrease) in cash and cash equivalents (2,003) 40,773
Cash and cash equivalents at beginning of period 86,007 49,348
Cash and cash equivalents at end of period 84,004 90,121
Cash paid during the period for:    
Interest 4,841 4,796
Income taxes 1,280 0
Cash received during the period for:    
Income taxes 0 79
Supplemental disclosure of noncash investing and financing activities:    
Net change in common stock held by directors’ deferred compensation plan 154 11
Net reclassification of loans to other real estate 5,679 1,752
Net transfer of loans to loans held for sale $ 6,658 $ 0