XML 19 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flow From Operating Activities:    
Net income $ 47,329 $ 37,699
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 5,260 1,340
Depreciation and amortization 3,669 3,604
Change in deferred taxes 3,697 5,571
Share-based compensation 1,061 1,235
Loans originated for sale (127,275) (199,281)
Proceeds from sales of loans held for sale 136,014 190,321
Gains on sales of loans held for sale (2,220) (2,658)
Gains on sales of securities available for sale (1,165) (1,703)
Increase in cash surrender of life insurance (1,715) (1,878)
Gains on life insurance benefits (2,154) (895)
Change in interest receivable (750) 1,064
Change in interest payable 123 (41)
Other adjustments (4,379) (1,704)
Net cash provided by operating activities 57,495 32,674
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits (23,554) (30,218)
Purchases of:    
Securities available for sale (104,956) (96,873)
Securities held to maturity (30,220) (76,395)
Proceeds from sales of securities available for sale 41,180 85,081
Proceeds from maturities of:    
Securities available for sale 32,838 32,286
Securities held to maturity 36,150 54,810
Change in Federal Reserve and Federal Home Loan Bank stock 40 19,537
Net change in loans (257,201) (102,735)
Net cash and cash equivalents received in acquisition 48,528
Proceeds from the sale of other real estate owned 4,703 4,633
Proceeds from life insurance benefits 5,415 1,895
Other adjustments (608) (1,671)
Net cash used in investing activities (247,685) (109,650)
Net change in :    
Demand and savings deposits 127,901 173,705
Certificates of deposit and other time deposits 79,922 (56,969)
Borrowings 697,727 279,518
Repayment of borrowings (688,153) (290,687)
Cash dividends on common stock (14,001) (10,264)
Stock issued under employee benefit plans 246 216
Stock issued under dividend reinvestment and stock purchase plans 446 384
Stock options exercised 2,082 211
Stock redeemed (1,257) (837)
Net cash provided by financing activities 204,913 95,277
Net Change in Cash and Cash Equivalents 14,723 18,301
Cash and Cash Equivalents at beginning of period 127,927 102,170
Cash and Cash Equivalents at end of period 142,650 120,471
Additional cash flow information:    
Interest paid 15,235 13,555
Income tax paid 10,000 3,155
Loans transferred to other real estate owned 7,556 320
Fixed assets transferred to other real estate owned 360
Non-cash investing activities using trade date accounting 7,759 4,414
In conjunction with the acquisition, liabilities were assumed as follows:    
Fair value of assets acquired 338,725
Cash paid in acquisition (4)
Less: Common stock issued 82,588
Liabilities assumed $ 256,133 $ 0