Schedule of condensed statements of cash flows of Parent Company |
(Dollars in Thousands)
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2015
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2014
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2013
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Operating activities:
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Net income
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$
|
136,726
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$
|
153,151
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$
|
126,351
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Adjustments to reconcile net income to net cash provided by operating activities:
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Impairment charges on available for sale securities
|
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385
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|
254
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|
754
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Stock compensation expense
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1,172
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|
|
1,058
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|
414
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(Decrease) increase in other liabilities
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(1,998)
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|
416
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(969)
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Equity in (undistributed) distributed net income of subsidiaries
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(83,486)
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(79,695)
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(93,089)
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Net cash provided by operating activities
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52,799
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|
|
75,184
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|
33,461
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Investing activities:
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Principal collected on mortgage-backed securities
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|
474
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|
1,301
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|
1,207
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Net decrease in notes receivable
|
|
|
105
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|
|
109
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|
|
96
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|
(Increase) decrease in other assets and other investments
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(1,830)
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(7,008)
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|
432
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Net cash (used in) provided by investing activities
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|
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(1,251)
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(5,598)
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|
|
1,735
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Financing activities:
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Repayment of trust preferred securities
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(14,000)
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(15,310)
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|
|
—
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Proceeds from stock transactions
|
|
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1,370
|
|
|
555
|
|
|
265
|
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Payments of cash dividends - common
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(38,515)
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(34,762)
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(28,894)
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Purchase of treasury stock
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(6,678)
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(18,923)
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|
—
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Net cash used in financing activities
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|
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(57,823)
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|
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(68,440)
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|
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(28,629)
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Increase (decrease) in cash
|
|
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(6,275)
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|
|
1,146
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|
|
6,567
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Cash at beginning of year
|
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9,252
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|
|
8,106
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|
1,539
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Cash at end of year
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$
|
2,977
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$
|
9,252
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$
|
8,106
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