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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 13,079 $ 11,181
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan and lease losses (80) (747)
Depreciation and amortization 1,537 1,493
Write down of other real estate, net of gain on sale (162) (189)
Amortization of mortgage servicing rights and other intangible assets 1,188 2,178
Net amortization of investment securities 2,966 2,718
Share-based compensation 498 687
Net gain on sales of residential loans (1,312) (1,466)
Proceeds from sales of loans held for sale 86,663 83,690
Originations of loans held for sale (63,375) (79,385)
Equity in earnings of unconsolidated subsidiaries (61) (90)
Net increase in cash surrender value of bank-owned life insurance (208) (625)
Deferred income taxes 6,685 6,067
Net tax benefits from share-based compensation 125 0
Net change in other assets and liabilities (2,373) (1,362)
Net cash provided by operating activities 45,170 24,150
Cash flows from investing activities:    
Proceeds from maturities of and calls on investment securities available for sale 49,204 36,427
Purchases of investment securities available for sale (107,512) (46,209)
Proceeds from maturities of and calls on investment securities held to maturity 6,069 6,146
Net loan proceeds (originations) 2,111 (45,838)
Purchases of loan portfolios (24,121) (52,016)
Proceeds from sale of other real estate 102 891
Proceeds from bank-owned life insurance 782 0
Purchases of premises and equipment (1,582) (654)
Net return of capital from unconsolidated subsidiaries 438 368
Contributions to unconsolidated subsidiaries 0 (5)
Net (purchases) proceeds from redemption of FHLB stock 4,239 (1,814)
Net cash used in investing activities (70,270) (102,704)
Cash flows from financing activities:    
Net increase in deposits 169,243 63,163
Net (decrease) increase in short-term borrowings (114,000) 37,000
Cash dividends paid on common stock (4,922) (4,378)
Repurchases of common stock and other related costs (3,529) (4,750)
Net cash provided by financing activities 46,792 91,035
Net increase (decrease) in cash and cash equivalents 21,692 12,481
Cash and cash equivalents at beginning of period 84,341 80,194
Cash and cash equivalents at end of period 106,033 92,675
Cash received during the period for:    
Income taxes 2,396 1,785
Supplemental disclosure of non-cash investing and financing activities:    
Net change in common stock held by directors’ deferred compensation plan $ 0 $ 99