XML 47 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 12,582 $ 10,806
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 2,215 2,726
Depreciation of premises and equipment 1,937 1,502
Net gain on sales of investment securities (272) (557)
Net gain on mortgage banking activities (2,625) (868)
Net gain on dispositions of fixed assets (143) (40)
Bank owned life insurance income (564) (821)
Stock-based compensation 813 514
Intangible expenses 1,679 1,410
Other adjustments to reconcile net income to cash provided by operating activities 2,685 1,013
Originations of loans held for sale (104,072) (43,642)
Proceeds from the sale of loans held for sale 104,782 45,656
Contributions to pension and other postretirement benefit plans (2,145) (112)
(Increase) decrease in accrued interest receivable and other assets (3,027) 2,081
Increase (decrease) in accrued interest payable and other liabilities 770 (1,762)
Net cash provided by operating activities 14,615 17,906
Cash flows from investing activities:    
Net cash paid due to acquisitions (2,967) (5,379)
Net capital expenditures (2,254) (1,365)
Proceeds from maturities and calls of securities held-to-maturity 11,000 9,000
Proceeds from maturities and calls of securities available-for-sale 41,169 45,258
Proceeds from sales of securities available-for-sale 37,546 30,286
Purchases of investment securities available-for-sale (85,107) (36,206)
Net increase in loans and leases (106,375) (57,562)
Net decrease in interest-earning deposits 8,626 27,920
Net decrease in federal funds sold 17,442 0
Net cash (used in) provided by investing activities (80,920) 11,952
Cash flows from financing activities:    
Net increase (decrease) in deposits 16,062 (12,264)
Net increase in short-term borrowings 19,202 7,309
Proceeds from issuance of subordinated notes 49,267 0
Payment of contingent consideration on acquisitions (880) (310)
Purchases of treasury stock (11,310) (3,258)
Stock issued under dividend reinvestment and employee stock purchase plans and other employee benefit programs 1,250 1,387
Proceeds from exercise of stock options 241 24
Cash dividends paid (7,220) (6,505)
Net cash provided by (used in) financing activities 66,612 (13,617)
Net increase in cash and due from banks 307 16,241
Cash and due from banks at beginning of year 31,995 32,646
Cash and due from banks at end of period 32,302 48,887
Supplemental disclosures of cash flow information:    
Cash paid for interest 3,152 2,195
Cash paid for income taxes, net of refunds 49 3,019
Non cash transactions:    
Transfer of loans to loans held for sale 4,000 8,926
Assets acquired through acquisitions 425,311 0
Liabilities assumed through acquisitions 389,782 0
Contingent consideration recorded as goodwill $ 1,525 $ 5,470