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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities    
Net Income $ 12,473 $ 14,221
Provision for credit losses 6,526 1,159
Deferred tax expense 1,200 4,219
Depreciation and amortization 1,740 1,899
Net losses (gains) on securities and other assets 218 (267)
Net amortization of premiums and discounts on securities 1,102 441
Income from increase in cash surrender value of bank owned life insurance (1,296) (1,354)
Increase in interest receivable (911) (127)
Mortgage loans originated for sale (22,269) (15,382)
Proceeds from sale of mortgage loans 22,858 15,472
Decrease in interest payable (26) (92)
Increase in income taxes payable 2,811 290
Other-net (4,834) (4,748)
Net cash provided by operating activities 19,592 15,731
Investing Activities    
Proceeds from sale and maturity of held-to-maturity securities 6,924 0
Payments to acquire held-to-maturity securities (19,695) (29,616)
Proceeds from Sale of Available-for-sale Securities 0 0
Proceeds from maturities and redemptions of available-for-sale securities 35,815 50,568
Purchases of available-for-sale securities (29,930) (500)
Purchases of FHLB stock (10,281) (13,801)
Proceeds from the redemption of FHLB stock 12,636 11,270
Proceeds from bank owned life insurance 0 291
Proceeds from sale of other assets 2,101 1,008
Net (increase) decrease in loans (118,137) 9,540
Purchases of premises and equipment (2,251) (1,665)
Net cash (used in) provided by investing activities (122,818) 27,095
Financing Activities    
Net (decrease) increase in federal funds purchased (4,000) 6,000
Net increase in other short-term borrowings 11,917 13,644
Net increase (decrease) in deposits 105,873 (21,761)
Repayments of other long-term debt (139) (25,134)
Dividends paid (6,224) (6,407)
Purchase of treasury stock (488) (18,421)
Net cash provided by (used in) financing activities 106,939 (52,079)
Net increase (decrease) in cash and cash equivalents 3,713 (9,253)
Cash and cash equivalents at January 1 69,452 74,538
Cash and cash equivalents at March 31 $ 73,165 $ 65,285