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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 23,318 $ 22,730
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan and lease losses (2,129) (10,066)
Depreciation and amortization 2,974 2,954
Write down of other real estate, net of gain on sale (222) 140
Amortization of other intangible assets 4,601 3,664
Net amortization of investment securities 5,801 4,584
Share-based compensation 635 (343)
Net loss on investment securities 0 1,866
Net gain on sales of residential loans (3,311) (3,224)
Proceeds from sales of loans held for sale 193,848 201,059
Originations of loans held for sale (186,349) (211,071)
Equity in earnings of unconsolidated subsidiaries (274) (325)
Increase in cash surrender value of bank-owned life insurance (1,994) (1,455)
Deferred income taxes 12,398 12,853
Net change in other assets and liabilities 1,373 4,206
Net cash provided by operating activities 50,669 27,572
Cash flows from investing activities:    
Proceeds from maturities of and calls on investment securities available for sale 81,894 81,536
Proceeds from sales of investment securities available for sale 0 117,496
Purchases of investment securities available for sale (46,215) (257,793)
Proceeds from maturities of and calls on investment securities held to maturity 13,289 12,159
Purchases of investment securities held to maturity 0 (37,043)
Net loan originations (115,771) (54,491)
Purchases of loan portfolios (77,702) (28,109)
Proceeds from sales of loans originated for investment 0 6,658
Proceeds from sale of other real estate 1,789 2,567
Proceeds from bank-owned life insurance 1,283 723
Purchases of premises and equipment (2,183) (1,421)
Net return of capital from unconsolidated subsidiaries 412 286
Contributions to unconsolidated subsidiaries (5) 0
Net (purchases) proceeds from redemption of FHLB stock (6,612) 31,803
Net cash used in investing activities (149,821) (125,629)
Cash flows from financing activities:    
Net (decrease) increase in deposits (28,297) 72,022
Net increase in short-term borrowings 157,000 119,000
Cash dividends paid on common stock (8,734) (7,958)
Repurchases of common stock and other related costs (10,544) (89,524)
Net proceeds from issuance of common stock and stock option exercises 199 0
Net cash provided by financing activities 109,624 93,540
Net increase (decrease) in cash and cash equivalents 10,472 (4,517)
Cash and cash equivalents at beginning of period 80,194 86,007
Cash and cash equivalents at end of period 90,666 81,490
Cash paid during the period for:    
Interest 3,986 3,239
Income taxes 0 880
Cash received during the period for:    
Income taxes 1,605 0
Supplemental disclosure of non-cash investing and financing activities:    
Net change in common stock held by directors’ deferred compensation plan 99 154
Net reclassification of loans to other real estate 637 5,037
Net transfer of loans to loans held for sale $ 0 $ 6,648