XML 39 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows From Operating Activities:    
Net income $ 18,247,000 $ 18,243,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,036,000 5,171,000
Net gains on sales of securities (23,000) (4,003,000)
Stock-based compensation expense 1,536,000 1,435,000
Provision for loan losses    500,000
Deferred income tax expense 140,000 935,000
Increase (decrease) in income tax liability 293,000 (1,030,000)
Increase in pension liability 1,710,000 1,741,000
Other operating activities, net 506,000 (1,105,000)
Net cash provided by operating activities 28,445,000 21,887,000
Cash Flows From Investing Activities:    
Proceeds from sales of securities available-for-sale 587,000 94,666,000
Proceeds from maturities of securities available-for-sale 8,790,000 10,682,000
Purchase of securities available-for-sale (27,302,000) (83,614,000)
Net (increase) decrease in loans (25,224,000) 51,503,000
Increase in payments in excess of funding (63,559,000) (24,517,000)
Purchases of premises and equipment, net (4,676,000) (3,400,000)
Net cash (used in) provided by investing activities (111,384,000) 45,320,000
Cash Flows From Financing Activities:    
Net (decrease) increase in noninterest-bearing demand deposits (4,443,000) 3,107,000
Net increase in interest-bearing demand and savings deposits 22,878,000 1,549,000
Net decrease in time deposits (15,567,000) (7,527,000)
Net increase in accounts and drafts payable 101,734,000 41,970,000
Cash dividends paid (6,917,000) (6,207,000)
Distribution of stock awards, net (435,000) (880,000)
Purchase of shares for treasury (911,000)   
Net cash provided by financing activities 96,339,000 32,012,000
Net increase in cash and cash equivalents 13,400,000 99,219,000
Cash and cash equivalents at beginning of period 225,262,000 141,088,000
Cash and cash equivalents at end of period 238,662,000 240,307,000
Supplemental information:    
Cash paid for interest 1,871,000 4,328,000
Cash paid for income taxes $ 5,252,000 $ 5,858,000