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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities    
Net income $ 19,814 $ 17,621
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 1,655 2,060
Depreciation and amortization 3,287 3,208
Stock-based compensation expense 1,007 858
Pension expense (income) (225) (300)
Net amortization of premiums/accretion of discounts on investment securities 1,911 1,741
Gains on sales of investment securities (24) 0
Originations of loans held for sale (42,935) (59,541)
Net gains from sales of loans held for sale (1,181) (1,464)
Proceeds from sales of loans held for sale 49,381 56,816
Deferred income taxes 0 2,313
Decrease (increase) in interest receivable (2,471) (2,354)
Decrease (increase) in cash surrender value of life insurance (493) (480)
Decrease (increase) in indemnification asset (1,374) (2,269)
(Decrease) increase in interest payable (1,353) 0
Increase (decrease) in other assets (15,305) (13,435)
(Decrease) increase in other liabilities (3,923) 5,790
Net cash provided by (used in) operating activities 10,519 15,102
Investing activities    
Proceeds from sales of securities available-for-sale 42,696 25
Proceeds from calls, paydowns and maturities of securities available-for-sale 31,974 26,103
Purchases of securities available-for-sale (36,851) (55,005)
Proceeds from calls, paydowns and maturities of securities held-to-maturity 22,881 27,155
Net decrease (increase) in interest-bearing deposits with other banks 18,152 (2,720)
Net decrease (increase) in loans and leases (117,755) 8,883
Proceeds from disposal of other real estate owned 2,035 4,557
Purchases of premises and equipment (4,900) (2,255)
Net cash provided by (used in) investing activities (41,768) 6,743
Financing activities    
Net (decrease) increase in total deposits (2,847) 58,848
Net (decrease) increase in short-term borrowings 31,474 (69,750)
Payments on long-term debt 0 (532)
Cash dividends paid on common stock (9,760) (9,745)
Proceeds from exercise of stock options 111 124
Excess tax benefit on share-based compensation 105 99
Net cash provided by (used in) financing activities 19,083 (20,956)
Cash and due from banks:    
Net increase (decrease) in cash and due from banks (12,166) 889
Cash and due from banks at beginning of period 114,841 110,122
Cash and due from banks at end of period $ 102,675 $ 111,011