XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities    
Interest and dividends received $ 138,664 $ 137,747
Service charges and other fees received 16,908 13,840
Interest paid (4,030) (5,768)
Net cash paid to vendors, employees and others (69,730) (68,710)
Income taxes paid (23,000) (27,000)
Payments to FDIC, loss share agreement (203) (460)
Net cash provided by operating activities 58,609 49,649
Cash Flows from Investing Activities    
Proceeds from redemption of FHLB stock 1,423 7,750
Net change in interest-earning balances from depository institutions 3,755 2,740
Proceeds from repayment of investment securities available-for-sale 228,070 202,162
Proceeds from maturity of investment securities available-for-sale 56,006 54,601
Purchases of investment securities available-for-sale (97,368) (236,451)
Proceeds from repayment and maturity of investment securities held-to-maturity 128,497  
Net (increase) decrease in loan and lease finance receivables (54,623) 35,862
Proceeds from sale of loans 6,417  
Purchase of premises and equipment (2,045) (485)
Proceeds from sales of other real estate owned 621 1,538
Cash used in sale of branch, net (8,217)  
Cash paid for County Commerce Bank (CCB) acquisition, net of cash acquired (7,504)  
Net cash provided by investing activities 255,032 67,717
Cash Flows from Financing Activities    
Net increase in other deposits 512,784 430,912
Net decrease in time deposits (58,754) (41,690)
Repayment of FHLB advances (5,000) (200,000)
Net decrease in other borrowings (46,000) (46,000)
Net (decrease) increase in customer repurchase agreements (99,818) 98,699
Cash dividends on common stock (25,700) (23,340)
Repurchase of common stock (408) (511)
Proceeds from exercise of stock options 2,254 4,500
Tax benefit related to exercise of stock options 86 742
Net cash provided by financing activities 279,444 223,312
Net increase in cash and cash equivalents 593,085 340,678
Cash and cash equivalents, beginning of period 106,097 105,768
Cash and cash equivalents, end of period 699,182 446,446
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities    
Net earnings 48,905 42,646
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Gain on sale of loans 1,101 0
Gain on sale of branch (272)  
Gain on sale of other real estate owned (14) (232)
Increase in bank owned life insurance (2,275) (2,670)
Net amortization of premiums and discounts on investment securities 10,192 9,749
Accretion of PCI discount (1,569) (2,012)
Recapture of provision for loan losses 0 (2,000)
Recapture of provision for unfunded loan commitments 0 (500)
Valuation adjustment on other real estate owned 337 162
Payments to FDIC, loss share agreement (203) (460)
Stock-based compensation 1,307 1,371
Depreciation and amortization, net 1,685 292
Change in other assets and liabilities 1,617 3,303
Total adjustments 9,704 7,003
Net cash provided by operating activities 58,609 49,649
Supplemental Disclosure of Non-cash Investing Activities    
Securities purchased and not settled 44,723 59,693
Transfer of loans to other real estate owned   $ 3,666
Issuance of common stock for CCB acquisition $ 21,642