XML 20 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flow From Operating Activities:    
Net income $ 58,758 $ 51,207
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 3,240 417
Depreciation and amortization 5,363 4,707
Change in deferred taxes 6,889 3,363
Share-based compensation 1,883 1,687
Tax benefit from stock options exercised (41) (70)
Loans originated for sale (280,769) (286,414)
Proceeds from sales of loans held for sale 293,519 296,302
Gains on sales of loans held for sale (4,338) (4,596)
Gain on sale of insurance subsidiary (8,265)
Gain on cancellation of subordinated debentures (1,250)
Gains on sales of securities available for sale (2,542) (2,047)
Change in interest receivable 763 (1,772)
Change in interest payable 641 480
Other adjustments (501) 301
Net cash provided by operating activities 82,865 54,050
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits (1,488) 21,331
Purchases of:    
Securities available for sale (161,962) (166,645)
Securities held to maturity (94,309) (55,415)
Proceeds from sales of securities available for sale 104,821 70,114
Proceeds from maturities of:    
Securities available for sale 52,019 47,664
Securities held to maturity 86,281 69,629
Change in Federal Reserve and Federal Home Loan Bank stock 19,589 7,710
Net change in loans (286,125) (296,602)
Net cash and cash equivalents paid in acquisition (12,004)
Net cash received from sale of insurance subsidiary 15,155
Proceeds from the sale of other real estate owned 8,105 8,294
Other adjustments (3,800) 1,264
Net cash used in investing activities (276,869) (289,505)
Net change in :    
Demand and savings deposits 195,395 106,597
Certificates of deposit and other time deposits (41,973) (38,028)
Borrowings 647,935 414,197
Repayment of borrowings (594,350) (270,497)
Cash dividends on common stock (16,023) (11,448)
Stock issued under employee benefit plans 338 351
Stock issued under dividend reinvestment and stock purchase plans 605 487
Stock options exercised 309 1,422
Tax benefit from stock options exercised 41 70
Stock redeemed (841) (1,635)
Net cash provided by financing activities 191,436 201,516
Net Change in Cash and Cash Equivalents (2,568) (33,939)
Cash and Cash Equivalents at beginning of period 102,170 118,616
Cash and Cash Equivalents at end of period 99,602 84,677
Additional cash flow information:    
Interest paid 19,567 17,845
Income tax paid 4,499 15,000
Loans transferred to other real estate owned 665 3,244
Fixed assets transferred to other real estate owned 360 1,166
Non-cash investing activities using trade date accounting 1,341 3,332
In conjunction with the acquisition, liabilities were assumed as follows:    
Fair value of assets acquired 141,724
Cash received (paid) in acquisition (14,500)
Less: Common stock issued
Liabilities assumed $ 0 $ 127,224