XML 31 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Operating Activities    
Net income $ 13,234 $ 12,374
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 3,000 5,000
Gains on sales of loans (2,394) (1,896)
Proceeds from sales of loans 71,205 73,162
Loans originated for sale (65,996) (77,528)
Net gains on sales of other real estate and repossessed assets (235) (305)
Depreciation of premises and equipment 2,177 1,983
Amortization of intangible assets 1,001 1,067
Gain on sale of investment securities (847) 0
Net amortization of premiums and discounts on investment securities 863 1,281
Share-based compensation expense 629 314
Contributions to defined benefit pension plan (15,000) (12,000)
Net decrease in interest receivable and other assets 7,154 14,426
Net decrease in interest payable and other liabilities (7,837) (8,716)
Net cash provided by operating activities 6,954 9,162
Investment securities – available-for-sale:    
Proceeds from sales 33,028 0
Proceeds from maturities, calls and principal reductions 41,165 72,992
Purchases (191,165) (81,537)
Investment securities – held-to-maturity:    
Proceeds from maturities, calls and principal reductions 7,111 8,515
Purchases (34,940) (16,599)
Net increase in loans (24,374) (21,660)
Proceeds from sales of other real estate and repossessed assets 2,701 4,145
Purchases of premises and equipment and branch bank property, net of disposals (602) (2,655)
Net cash used in investing activities (167,076) (36,799)
Financing Activities    
Net increase in interest- and noninterest-bearing demand deposits and savings accounts 125,946 129,749
Net decrease in time deposits (40,031) (35,222)
Net increase in short-term borrowings 37,021 31,296
Repayment of FHLB advances (34,289) (937)
Cash dividends paid (5,791) (5,503)
Proceeds from directors’ stock plans and exercise of stock options, net of shares withheld 229 240
Shares issued, net of shares withheld, for restricted stock performance units (372) (248)
Net cash provided by financing activities 82,713 119,375
Net increase (decrease) in cash and cash equivalents (77,409) 91,738
Cash and cash equivalents at beginning of period 656,135 381,940
Cash and cash equivalents at end of period 578,726 473,678
Supplemental Disclosure of Cash Flow Information:    
Interest paid 4,890 6,577
Loans transferred to other real estate and repossessed assets 2,191 4,299
Closed branch offices transferred to other real estate 382 0
Federal income taxes refunded $ (3,500) $ (8,000)