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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 34,784 $ 34,936
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan and lease losses (2,872) (13,713)
Depreciation and amortization 4,493 4,406
Write down of other real estate, net of gain on sale (251) 26
Amortization of other intangible assets 6,291 5,347
Net amortization of investment securities 9,326 7,418
Share-based compensation 1,360 1,812
Net loss on investment securities 0 1,866
Net gain on sales of residential loans (5,523) (4,775)
Proceeds from sales of loans held for sale 315,348 304,351
Originations of loans held for sale (308,471) (299,679)
Equity in earnings of unconsolidated subsidiaries (456) (490)
Net increase in cash surrender value of bank-owned life insurance (2,772) (1,889)
Deferred income taxes 18,790 19,045
Net change in other assets and liabilities (1,035) 3,235
Net cash provided by operating activities 69,012 61,896
Cash flows from investing activities:    
Proceeds from maturities of and calls on investment securities available for sale 140,258 125,688
Proceeds from sales of investment securities available for sale 0 117,496
Purchases of investment securities available for sale (112,870) (290,019)
Proceeds from maturities of and calls on investment securities held to maturity 22,335 19,950
Purchases of investment securities held to maturity (1,644) (37,043)
Net loan originations (152,906) (122,479)
Purchases of loan portfolios (77,702) (52,806)
Proceeds from sales of loans originated for investment 0 6,658
Proceeds from sale of other real estate 2,850 6,687
Proceeds from bank-owned life insurance 1,506 723
Purchases of premises and equipment (3,574) (3,014)
Net return of capital from unconsolidated subsidiaries 528 424
Contributions to unconsolidated subsidiaries (5) 0
Net (purchases) proceeds from redemption of FHLB stock (3,567) 31,884
Net cash used in investing activities (184,791) (195,851)
Cash flows from financing activities:    
Net increase in deposits 85,139 120,203
Net increase in short-term borrowings 81,000 117,000
Cash dividends paid on common stock (13,695) (11,718)
Repurchases of common stock and other related costs (14,084) (93,533)
Net proceeds from issuance of common stock and stock option exercises 599 0
Net cash provided by financing activities 138,959 131,952
Net increase (decrease) in cash and cash equivalents 23,180 (2,003)
Cash and cash equivalents at beginning of period 80,194 86,007
Cash and cash equivalents at end of period 103,374 84,004
Cash received during the period for:    
Income taxes 6,261 4,841
Supplemental disclosure of non-cash investing and financing activities: 0 1,280
Transfer of Portfolio Loans and Leases to Other Real Estate 1,428 5,679
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 537 154
Net transfer of loans to loans held for sale $ 0 $ 6,658