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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Operating Activities      
Net income $ 51,564 $ 45,342 $ 46,502
Proceeds from sales of loans held for sale 138,659 156,835 158,730
Originations of loans held for sale (126,215) (156,036) (155,680)
Items not requiring (providing) cash      
Depreciation 9,120 9,816 10,465
Amortization 2,731 3,656 3,430
Compensation expense for stock option grants 564 483 382
Provision for loan losses 9,100 9,281 5,519
Net gains on loan sales (3,150) (3,941) (3,888)
Net realized gains on available-for-sale securities 0 (2,873) (2)
Gain on sale of non-marketable securities 0 0 (301)
Gain on Redemption of Trust Preferred Securities 0 0 (1,115)
(Gain) loss on sale of premises and equipment 297 (249) (465)
(Gain) loss on sale/write-down of other real estate and repossessions (449) 489 (1,132)
Gain on sale of business units 0 (368) 0
(Gain) loss realized on termination of loss sharing agreements (7,705) 584 0
(Accretion) amortization of deferred income, premiums, discounts and other (1,947) 4,423 10,595
(Appreciation) amortization of deferred income, premiums, discounts and other (28) (66) 43
(Appreciation) amortization of deferred income, premiums, discounts and other 9,423 (3,621) (4,670)
Changes in      
Interest receivable (463) (535) 289
Prepaid expenses and other assets (5,227) 12,655 3,982
Accrued expenses and other liabilities 1,821 (2,720) 3,354
Income taxes refundable/payable (15,278) 7,484 (4,609)
Net cash provided by operating activities 62,817 80,639 71,429
Investing Activities      
Net change in loans 136,596 (145,101) (190,154)
Purchase of loans (133,018) (145,600) (117,634)
Proceeds from sale of student loans 0 368 0
Cash received from purchase of additional business units 0 44,363 0
Cash received from FDIC loss sharing reimbursements 16,246 247 2,599
Cash paid for sale of business units 0 (17,821) 0
Purchase of premises and equipment (7,404) (10,878) (16,697)
Proceeds from sale of premises and equipment 565 1,178 1,883
Proceeds from sale of other real estate and repossessions 33,640 28,362 23,497
Capitalized costs on other real estate owned (117) (146) (20)
Proceeds from sale of non-marketable securities 0 0 351
Proceeds from maturities, calls and repayments of held-to-maturity securities 0 106 97
Proceeds from sale of available-for-sale securities 0 55,000 56,169
Proceeds from maturities, calls and repayments of available-for-sale securities 36,754 60,827 63,463
Purchase of available-for-sale securities (3,852) (71,904) (21,339)
Redemption of Federal Home Loan Bank stock 1,852 2,269 1,590
Net cash provided by (used in) investing activities 81,379 (198,730) (196,195)
Financing Activities      
Net increase (decrease) in certificates of deposit (114,714) 162,763 191,224
Net increase in checking and savings accounts 34,796 36,126 87,113
Proceeds from Federal Home Loan Bank advances 1,420,500 1,793,000 6,509,500
Repayments of Federal Home Loan Bank advances (1,324,435) (2,025,070) (6,517,564)
Net increase (decrease) in short term borrowings (188,888) 168,546 (93,967)
Proceeds from issuance of subordinated notes 0 73,472 0
Advances from (to) borrowers for taxes and insurance 676 (38) (248)
Redemption of trust preferred securities 0 0 (3,885)
Redemption of preferred stock 0 0 (57,943)
Dividends paid (12,894) (12,232) (12,290)
Stock options exercised 3,247 2,110 3,362
Net cash provided by (used in) financing activities (181,712) 198,677 105,302
Increase (Decrease) in Cash and Cash Equivalents (37,516) 80,586 (19,464)
Cash and Cash Equivalents, Beginning of Year 279,769 199,183 218,647
Cash and Cash Equivalents, End of Year $ 242,253 $ 279,769 $ 199,183