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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 11,181 $ 10,395
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan and lease losses (747) (2,747)
Depreciation and amortization 1,493 1,479
Write down of other real estate, net of gain on sale (189) 0
Amortization of other intangible assets 2,178 2,105
Net amortization of investment securities 2,718 1,918
Share-based compensation 687 829
Net gain on sales of residential loans (1,466) (1,594)
Proceeds from sales of loans held for sale 83,690 96,788
Originations of loans held for sale (79,385) (92,717)
Equity in earnings of unconsolidated subsidiaries (90) (96)
Increase in cash surrender value of bank-owned life insurance (625) (968)
Deferred income taxes 6,067 5,339
Net change in other assets and liabilities (1,362) (5,020)
Net cash provided by operating activities 24,150 15,711
Cash flows from investing activities:    
Proceeds from maturities of and calls on investment securities available for sale 36,427 35,942
Purchases of investment securities available for sale (46,209) (95,716)
Proceeds from maturities of and calls on investment securities held to maturity 6,146 4,807
Purchases of investment securities held to maturity 0 (22,249)
Net loan originations (45,838) (36,803)
Purchases of loan portfolios (52,016) 0
Proceeds from sale of other real estate 891 968
Purchases of premises and equipment (654) (1,033)
Net return of capital from unconsolidated subsidiaries 368 214
Contributions to unconsolidated subsidiaries (5) 0
Net (purchases) proceeds from redemption of FHLB stock (1,814) 490
Net cash used in investing activities (102,704) (113,380)
Cash flows from financing activities:    
Net increase in deposits 63,163 78,342
Net increase in short-term borrowings 37,000 32,000
Cash dividends paid on common stock (4,378) (4,171)
Repurchases of common stock and other related costs (4,750) (9,288)
Net cash provided by financing activities 91,035 96,883
Net increase (decrease) in cash and cash equivalents 12,481 (786)
Cash and cash equivalents at beginning of period 80,194 86,007
Cash and cash equivalents at end of period 92,675 85,221
Cash paid during the period for:    
Interest 1,785 1,599
Income taxes 0 100
Supplemental disclosure of non-cash investing and financing activities:    
Net change in common stock held by directors’ deferred compensation plan 99 50
Net reclassification of loans to other real estate $ 0 $ 1,369