XML 35 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net income $ 10,941,000 $ 16,684,000 $ 17,574,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion, net 18,503,000 13,174,000 16,110,000
Provision for (recovery of) loan losses 14,097,000 339,000 (4,410,000)
Bank owned life insurance income (598,000) (106,000) (56,000)
Net gain on investment securities (729,000) (398,000) (489,000)
Loss (gain) on debt extinguishment 520,000 (67,000) 0
Loans originated for sale (53,570,000) (51,458,000) (68,323,000)
Proceeds from sales of loans 56,532,000 49,218,000 74,049,000
Net gains on sales of loans (1,005,000) (943,000) (1,544,000)
Deferred income tax (benefit) expense (1,582,000) 3,835,000 4,627,000
Decrease in accrued expenses (4,412,000) (631,000) (13,000)
Decrease in interest receivable 704,000 139,000 313,000
Excess Tax Benefit from Share-based Compensation, Operating Activities (51,000) (85,000) (79,000)
Increase (decrease) in other assets 4,623,000 (1,505,000) 8,058,000
Other, net 3,909,000 3,299,000 (5,353,000)
Net cash provided by operating activities 47,882,000 31,495,000 40,464,000
Available-for-sale investment securities:      
Purchases (196,599,000) (143,184,000) (223,979,000)
Proceeds from sales 57,415,000 108,092,000 125,658,000
Proceeds from principal payments, calls and prepayments 126,401,000 79,830,000 99,372,000
Held-to-maturity investment securities:      
Purchases 0 (1,017,000) (5,216,000)
Proceeds from principal payments 2,261,000 1,325,000 885,000
Net increase in loans (77,893,000) (76,100,000) (109,609,000)
Net expenditures for premises and equipment (9,429,000) (7,105,000) (6,604,000)
Proceeds from sales of other real estate owned 971,000 219,000 1,036,000
Proceeds from bank owned life insurance 0 6,322,000 43,100,000
Business combinations, net of cash received 97,277,000 17,081,000 (4,536,000)
(Investment in) return of limited partnership and tax credit funds (1,514,000) 374,000 (120,000)
Net cash used in investing activities (1,110,000) (14,163,000) (80,013,000)
Financing activities:      
Net increase in non-interest-bearing deposits 99,341,000 18,367,000 61,935,000
Net decrease in interest-bearing deposits (125,360,000) (26,713,000) (84,344,000)
Net increase (decrease) in short-term borrowings 72,109,000 (29,373,000) 65,821,000
Proceeds from long-term borrowings 0 5,269,000 0
Payments on long-term borrowings (72,446,000) (10,288,000) (7,025,000)
Cash dividends paid on common shares (10,065,000) (6,767,000) (5,419,000)
Purchase of treasury stock (741,000) (520,000) (228,000)
Proceeds from issuance of common shares 0 40,242,000 8,000
Excess tax benefit from share-based payments 51,000 85,000 79,000
Net cash (used in) provided by financing activities (37,111,000) (9,698,000) 30,827,000
Net increase (decrease) in cash and cash equivalents 9,661,000 7,634,000 (8,722,000)
Cash and cash equivalents at beginning of period 61,454,000 53,820,000  
Cash and cash equivalents at end of period 71,115,000 61,454,000 53,820,000
Supplemental cash flow information:      
Interest paid 11,541,000 10,766,000 11,839,000
Income taxes paid $ 672,000 $ 6,726,000 $ 7,473,000