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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net Income $ 78,513 $ 80,500
Provision for credit losses 9,638 11,032
Deferred tax expense 2,613 2,969
Depreciation and amortization 7,777 5,620
Net gains on securities and other assets (8,545) (15,816)
Net amortization of premiums and discounts on securities 2,871 2,343
Income from increase in cash surrender value of bank owned life insurance (4,405) (4,364)
Increase in interest receivable (110) (2,483)
Mortgage loans originated for sale (178,911) (129,552)
Proceeds from sale of mortgage loans 173,961 139,685
Increase in interest payable 1,180 1,672
Decrease in income taxes payable (556) (3,412)
Distribution from unconsolidated subsidiary 0 9,000
Other-net (7,193) (3,655)
Net cash provided by operating activities 76,833 93,539
Investing Activities    
Proceeds from sale and maturity of held-to-maturity securities 35,163 37,007
Payments to acquire held-to-maturity securities (200) (5,506)
Proceeds from Sale of Available-for-sale Securities 0 15,939
Proceeds from maturities and redemptions of available-for-sale securities 134,453 111,800
Purchases of available-for-sale securities (17,401) (292,249)
Purchases of FHLB stock (29,538) (38,947)
Proceeds from the redemption of FHLB stock 50,103 43,754
Proceeds from Life Insurance Policy 0 2,140
Proceeds from Sale of Loans Receivable 28,098 32,745
Proceeds from sale of other assets 5,390 2,486
Acquisition, net of cash acquired 332,465 705
Net increase in loans (256,168) (109,060)
Payments for Purchase of Other Assets (14,060) (6,862)
Net cash provided by (used in) investing activities 268,305 (206,048)
Financing Activities    
Net (decrease) increase in federal funds purchased (4,000) 6,500
Net decrease in other short-term borrowings (634,088) (126,160)
Net increase in deposits 308,976 173,553
Repayments of other long-term debt (473) (23,443)
Repayments of Long-term Capital Lease Obligations 300 279
Proceeds from Issuance of Long-term Debt 50,000 98,026
Dividends paid (29,562) (25,868)
Proceeds from reissuance of treasury stock 211 208
Purchase of treasury stock (6,200) (1,136)
Net cash (used in) provided by financing activities (315,436) 101,401
Net increase (decrease) in cash and cash equivalents 29,702 (11,108)
Cash and cash equivalents at January 1 98,947 107,292
Cash and cash equivalents at September 30 $ 128,649 $ 96,184