XML 38 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flows From Operating Activities:    
Net Income $ 25,443 $ 23,247
Provision for credit losses 5,068 5,722
Depreciation and amortization 2,292 2,095
Gains on sale of loans (2,864) (10,417)
Securities premium amortization, net 1,721 1,466
Origination of loans held for sale (221,231) (683,248)
Proceeds from sale of loans held for sale 230,714 815,821
Net increase in cash surrender value of BOLI (624) (189)
Decrease (increase) in deferred income taxes 3,363 (5,755)
Decrease in fair value of other real estate owned 505  
Loss on sale of other real estate owned 100 458
Net gain on sale of investment securities (10) (23)
Stock-based compensation expense 1,915 1,552
Excess tax benefits from stock-based compensation (123) (270)
(Increase) decrease in other assets (11,380) 1,318
Decrease in other liabilities (12,705) (5,290)
Net cash provided by operating activities 22,184 146,487
Cash Flows From Investing Activities:    
Decrease in interest bearing deposits with other banks and short-term investments 43 5
Purchases of available for sale investment securities (26,852) (91,791)
Proceeds from maturities of available for sale securities 11,956 25,869
Proceeds from sale/call of available for sale securities 17,485 22,148
Purchases of Federal Reserve and Federal Home Loan Bank stock (53) (679)
Proceeds from redemption of federal reserve and federal home loan bank stock 699 153
Net increase in loans (336,985) (211,384)
Purchases of BOLI   (15,000)
Purchases of annuity   (10,879)
Proceeds from sale of other real estate owned 108 2,350
Bank premises and equipment acquired (3,194) (3,355)
Net cash used in investing activities (336,793) (282,563)
Cash Flows From Financing Activities:    
Increase (decrease) in deposits 142,513 (8,986)
Decrease in customer repurchase agreements (19,825) (4,011)
Payment of dividends on preferred stock (283) (283)
Proceeds from exercise of stock options 305 757
Excess tax benefits from stock-based compensation 123 270
Payment in lieu of fractional shares   (10)
Proceeds from employee stock purchase plan 298 253
Net cash provided by (used in) financing activities 123,131 (12,010)
Net Decrease In Cash and Cash Equivalents (191,478) (148,086)
Cash and Cash Equivalents at Beginning of Period 306,960 339,334
Cash and Cash Equivalents at End of Period 115,482 191,248
Supplemental Cash Flows Information:    
Interest paid 5,770 6,638
Income taxes paid 20,200 19,125
Non-Cash Investing Activities    
Transfers from loans to other real estate owned $ 330 $ 9,614