XML 85 R9.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net Income $ 41,965,000 $ 39,094,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Originations of mortgage loans held for sale (176,782,000) (157,736,000)
Proceeds from the sale of mortgage loans 168,394,000 159,740,000
Gain on sale of mortgage loans, net of origination costs (3,928,000) (4,126,000)
Provision for credit losses 2,647,000 840,000
Depreciation and amortization expense 2,889,000 2,845,000
Investment securities amortization and accretion, net 2,148,000 2,428,000
Stock-based compensation expense 1,364,000 1,405,000
Amortization of intangible assets 529,000 544,000
Purchase accounting accretion, net (1,180,000) (1,484,000)
Increase in other assets (32,299,000) (6,173,000)
(Decrease) increase in other liabilities (2,897,000) 16,170,000
Net cash provided by operating activities 2,850,000 53,547,000
Investing Activities    
Proceeds from sales and maturities of available-for-sale securities 247,991,000 135,282,000
Purchase of available-for-sale securities (220,696,000) (148,842,000)
Proceeds from maturities of held-to-maturity securities 0 750,000
Net increase in loans (85,817,000) (126,860,000)
Purchase of Federal Home Loan Bank stock (4,340,000) (9,391,000)
Proceeds from sale of Federal Home Loan Bank stock 7,463,000 16,943,000
Purchase of premises and equipment 2,378,000 2,879,000
Proceeds from the sale of premises and equipment 0 749,000
Proceeds from other investments 0 205,000
Recoveries of previously charged-off loans 228,000 361,000
Proceeds from the sale of other real estate owned 554,000 0
Net cash used by investing activities (56,995,000) (133,682,000)
Financing Activities    
Net increase in deposits 153,539,000 220,376,000
Net proceeds from (repayments of) borrowings less than 90 days 2,586,000 (132,098,000)
Common stock repurchases (17,174,000) 0
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings (190,000) (290,000)
Cash dividends paid on common stock 14,004,000 12,482,000
Finance lease payments (79,000) 0
Net cash provided by financing activities 124,678,000 75,506,000
Net increase (decrease) in cash, cash equivalents and restricted cash 70,533,000 (4,629,000)
Cash, cash equivalents, and restricted cash at beginning of period 66,999,000 102,971,000
Cash, cash equivalents and restricted cash at end of period 137,532,000 98,342,000
Supplemental information    
Interest paid 31,402,000 21,434,000
Income taxes paid 9,785,000 8,926,000
Transfer from loans to other real estate owned $ 543,000 $ 55,000