XML 87 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 32,812 $ 37,195 $ 28,044
Adjustments to reconcile net income to net cash provided by operating activities:      
Net (accretion) amortization on securities 3,492 274 (840)
Provision for loan losses 8,773 5,755 9,200
Securities impairment loss recognized in earnings 11 110 4,260
Securities (gains) losses (886) (6) (1,321)
Depreciation and amortization 5,105 3,897 4,643
Provision for deferred income taxes (143) 624 (5,940)
Net change in accrued interest receivable 923 500 797
Contribution of shares to ESOP 1,439 1,558 1,347
Stock compensation expense 488 0 0
Gain on sale of mortgage loans (4,590) (1,957) (2,206)
Loss on sales of other real estate 69 370 283
Other, net 7,160 (7,739) 10,293
NET CASH FROM OPERATING ACTIVITIES 54,653 40,581 48,560
CASH FLOWS FROM INVESTING ACTIVITIES:      
Sales of securities available-for-sale 25,812 25 12,248
Calls, maturities and principal reductions on securities available-for-sale 142,475 139,179 223,862
Purchases of securities available-for-sale (194,475) (134,770) (211,062)
Loans made to customers, net of payments (137,684) (106,012) (132,997)
Net change in federal funds sold (9,075) 1,044 16,472
Purchase of bank owned life insurance (1,551) (4,500) 0
Redemption of bank owned life insurance 9,180 0 0
Redemption of restricted stock 1,185 4,952 2,527
Purchase of restricted stock (186) 0 0
Purchase of customer list (114) 0 0
Cash received from sale of mortgage loans 167,227 86,601 116,462
Cash received (disbursed) from purchase of business unit 0 14,849 (609)
Sale of other real estate 4,285 4,573 3,727
Additions to premises and equipment (10,945) (1,476) (2,406)
NET CASH FROM INVESTING ACTIVITIES (3,866) 4,465 28,224
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net change in deposits 149 10,202 113,180
Net change in other short-term borrowings (59,471) 36,746 3,670
Dividends paid (12,425) (12,231) (11,940)
Purchases of treasury stock 0 0 (610)
Proceeds from other borrowings 0 0 2,000
Repayments on other borrowings (26,090) (3,994) (208,944)
NET CASH FROM FINANCING ACTIVITIES (97,837) 30,723 (102,644)
NET CHANGE IN CASH AND CASH EQUIVALENTS (47,050) 75,769 (25,860)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 134,280 58,511 84,371
CASH AND CASH EQUIVALENTS, END OF YEAR 87,230 134,280 58,511
Cash paid for the year for:      
Interest 13,837 17,358 28,051
Income Taxes $ 12,638 $ 16,565 $ 15,713