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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 32,547 $ 17,207
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 4,761 17,462
Depreciation of premises and equipment 2,651 2,795
Net amortization of investment securities premiums and discounts 834 779
Net gain on sales of investment securities (8) (10)
Net gain on mortgage banking activities (1,279) (1,658)
Bank owned life insurance income (1,695) (1,879)
Net accretion of acquisition accounting fair value adjustments (247) (495)
Stock-based compensation 1,256 1,719
Intangible expenses 843 1,206
Other adjustments to reconcile net income to cash (used in) provided by operating activities (461) 190
Originations of loans held for sale (69,323) (74,695)
Proceeds from the sale of loans held for sale 70,603 76,263
Contributions to pension and other postretirement benefit plans (132) (133)
Increase in accrued interest receivable and other assets (3,921) (3,089)
(Decrease) increase in accrued interest payable and other liabilities (4,872) 814
Net cash provided by operating activities 31,557 36,476
Cash flows from investing activities:    
Net capital expenditures (1,432) (1,347)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 11,054 4,253
Proceeds from maturities, calls and principal repayments of securities available-for-sale 27,784 34,824
Proceeds from sales of securities available-for-sale 15,494 1,010
Purchases of investment securities held-to-maturity (41,808) (45,349)
Purchases of investment securities available-for-sale (498) (1,485)
Proceeds from sales of money market mutual funds 523 10,706
Purchases of money market mutual funds (1,203) (6,284)
Net increase in other investments (4,418) (5,564)
Net increase in loans and leases (162,169) (211,534)
Proceeds from sales of other real estate owned 599 21
Purchases of bank owned life insurance 0 (776)
Proceeds from bank owned life insurance 0 1,374
Net cash used in investing activities (156,074) (220,151)
Cash flows from financing activities:    
Net increase in deposits 236,213 65,963
Net (decrease) increase in short-term borrowings (150,418) 126,422
Proceeds from issuance of long-term debt 25,000 0
Payment of contingent consideration on acquisitions (65) (67)
Purchases of treasury stock (1,175) (1,259)
Stock issued under dividend reinvestment and employee stock purchase plans 1,135 1,173
Proceeds from exercise of stock options 691 711
Cash dividends paid (11,717) (11,734)
Net cash provided by financing activities 99,664 181,209
Net decrease in cash and cash equivalents (24,853) (2,466)
Cash and cash equivalents at beginning of year 109,420 75,409
Cash and cash equivalents at end of period 84,567 72,943
Supplemental disclosures of cash flow information:    
Cash paid for interest 22,002 13,190
Cash paid for income taxes, net of refunds 9,883 1,060
Transfer of loans to other real estate owned $ 0 $ 402