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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income $ 45,839 $ 30,506
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 14,083 2,303
Depreciation and amortization 6,489 3,076
Stock-based compensation expense 2,996 1,954
Pension expense (income) 375 (156)
Net amortization (accretion) on investment securities 2,649 2,801
Net (gain) loss on sales of investment securities 178 0
Originations of loans held for sale (41,227) (22,383)
Net gains from sales of loans held for sale (1,890) (588)
Proceeds from sales of loans held for sale 39,273 24,542
Deferred income taxes 12,625 (1,736)
Amortization of operating leases 1,826 0
Operating Lease, Payments (1,823) 0
Decrease (increase) cash surrender value of life insurance 1,534 (786)
Decrease (increase) in interest receivable (3,109) (1,687)
(Decrease) increase in interest payable 322 (1,013)
Decrease (increase) in other assets (30,168) 15,414
(Decrease) increase in other liabilities (8,908) (1,491)
Net cash provided by (used in) operating activities 37,996 52,328
Investing activities    
Proceeds from sales of securities available-for-sale 0 0
Proceeds from calls, paydowns and maturities of securities available-for-sale 95,114 52,252
Purchases of securities available-for-sale (143,290) (77,037)
Proceeds from calls, paydowns and maturities of securities held-to-maturity 2,398 19,718
Net decrease (increase) in interest-bearing deposits with other banks (12,486) 23,774
Net decrease (increase) in loans and leases 438 (89,526)
Proceeds from disposal of other real estate owned 183 2,222
Purchases of premises and equipment (1,268) (4,979)
Net cash provided by (used in) investing activities (58,911) (73,576)
Financing activities    
Net (decrease) increase in total deposits (6,379) 115,458
Net (decrease) increase in short-term borrowings 6,724 (156,233)
Payments of long-term debt 25,187 0
Proceeds from FHLB borrowings 0 50,000
Cash dividends paid on common stock (21,550) (22,183)
Proceeds from exercise of stock options 90 137
Net cash provided by (used in) financing activities (46,302) (12,821)
Cash and due from banks:    
Change in cash and due from banks (67,217) (34,069)
Cash and due from banks at beginning of period 236,221 150,650
Cash and due from banks at end of period 169,004 $ 116,581
Supplemental schedule for investing activities    
Goodwill $ (524)